Ask A Genius 315 – Markets, Mothers, and Climate Change (1)
Author(s): Scott Douglas Jacobsen and Rick Rosner
Publication (Outlet/Website): Ask A Genius
Publication Date (yyyy/mm/dd): 2017/10/09
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Scott Douglas Jacobsen: We were talking off tape about housing markets, your mother in law, and climate change.
Rick Rosner: Yeah sorry, my wife is helping her mom sell her house, to pay for her care in senior living. Which means the mortgages are paid off and everything there will be a chunk of capital that needs to be invested… to pay for her mom’s care for the rest of her life. One of the possibilities we are looking at is… buying a duplex or something in L.A. Getting the rent from the duplex to help pay for Carol’s mom.
I have started to be a little scared about buying L.A real estate, even though we are in the middle of a housing shortage. Because… I don’t know how long L.A will be an attractive city. My wife and I are in our 50’s. So we may end up owning the investment property 20 years from now when we are old and retired and… I don’t know if L.A will still be a cool city to live in 20 years from now. Because of congestion and because of climate change where… I know that there are… you can’t tell on a day to day basis, you can’t tell the difference between statistical fluctuation and temperature, and long-term changes in overall climate. But this summer has been brutal, it was like 106 today.
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