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A HERETIC I AM

(24,891 posts)

5. It's debt on real estate, right? So it's collateralized.

Reply to The Velveteen Ocelot (Reply #1)

Mon Sep 28, 2020, 08:44 PM

Sep 2020

The problem is a lot of it is golf courses, which from what I gather, are depreciating assets, along with the fact that golf has diminished popularity. It isn't attracting enough young people into the sport to keep it sustainable.

So if it is to be collected, it might mean selling the properties, but for what? Who wants to buy 150 acres of high maintenance grass that loses 10% a year?

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Debt can be bought and sold. I wonder what the market is for that $400 million in debt? [View all] tinrobot Sep 2020 OP

Depends on whether there's a reasonable possibility of collection. The Velveteen Ocelot Sep 2020 #1

You can collect in goods or you can collect in services. tinrobot Sep 2020 #2

✔️ blm Sep 2020 #3

It's debt on real estate, right? So it's collateralized. A HERETIC I AM Sep 2020 #5

That's the problem. Real estate itself (the land) doesn't depreciate, but The Velveteen Ocelot Sep 2020 #6

Yup...his name has lost a LOT of the cache it had.... A HERETIC I AM Sep 2020 #8

He has a price. I would donate to pay him out if he and the mob family leave for Russia WA-03 Democrat Sep 2020 #4

Yeah, like China and/or Iran. Baked Potato Sep 2020 #7