Ken came by last night, even called be before and asked if I wanted a convenience store sandwich, I said Nah I'm OK (why spend whatever Godawful prices they charge now for a sandwich when I've got food here?) and he came over with a hot dog and a sugary donut for himself (I might have said yes to a hot dog and they weren't expensive it turns out) and I made him a tea.
He brought over beat-up rack mount oscilloscope with 3 plug-ins and some boxes, and I got my check but he dated it for Tuesday next week. It *should* be OK to deposit, he said, and I said my bank doesn't allow me to deposit a check before it's dated so no worries about my depositing it early.
We talked about the usual random shit but also, I asked him how he figures he's going to vacation in Scotland in July or so, when he's having trouble (he still hasn't paid the landlord their $1000 what a stupid hill to die on) and by the way, how's the debt consolidation going?
He said he's still working on it .... he mentioned the name of the company he's dealing with and that was a huge red flag because I'd never heard of them. I'm as advertising-saturated as any Good American, and there are a ton of companies out there and that he's going to a no-name rings all kinds of alarm bells with me.
He said it's some setup where "They don't want the house until we're dead" so basically whatever they're calling it, it sounds like some kind of reverse-mortgage deal.
No paying off the house which should have been long paid for. No leaving it to their children. Two sons and a daughter, one son doing well, daughter doing well-ish for now, one son doing OK I guess but he'd better get used to the idea of "urban camping". Something could happen with any of their kids and now, once they're gone, no family wealth to lean back on.
Ken's wife has savings, but any medical problems and those will be gone quick.
And also, Ken's leaning more on what I can bring in for him on Ebay than before. Before, this Ebay business just kind of puttered along, if the money was good that was good, if it wasn't so good it was still OK. But now he's playing things super close, hence being given a check last night, a Wednesday, and being told not to deposit it until next Tuesday.
The end result of all of this is, as always, for me to sell things off, give things away, conserve my money as best I can, and be prepared to jet out of here.
Ken's assuming things will keep going the way they've been since about 2010. Real estate going up and up and up some more. In reality the real estate bubble's pumped up even higher than it was in 2005.
2006 was a slow deflation and that's when I had guys coming up to me at the ham radio flea market saying if they hadn't waited to sell their house that 6 months, they'd have gotten $50k more, etc.
To put not too fine a point on it, we're setting up for another nice real estate crash. And for Ken, it doesn't even have to be a crash. He's got his finances stacked up like a Jenga tower where the slightest financial wind will tip it over.