Investor · Tampa, FL · Member since 2013 · 2k+ posts · 1k+ votes
So it seems that the state of Indiana went and passed a law which may or may not allow certain businesses to discriminate against others based upon religious belief. Multitudes of Businesses have come out against the law and it looks like it may hold up the economic growth of Indianapolis and other areas.
Here's a link to some news as to what's happening there:
It's disappointing when things like this happen, but as we saw in Arizona these are last ditch efforts that won't win in the long run. However as an investor it does make me less happy and less likely to spend my dollars in a state that promotes this kind of discrimination. I guess when I sell my flip this month I'll have to spend all my profits somewhere else :)
This law does not allow discrimination and they are already looking at changing a couple things to clarify it. This is nothing more than a media push to get some ratings since there isn't anything else going to get the entire country ruled up about right now. GenCon says they won't do business here in the future but they have a contract through 2020 and Angie's list pulled their bid for expansion but they are on the way to being out of business anyway. We have no doubts as a resident and real estate investor that this is media hype that will disappear as soon as the next big thing happens and that the bill, even as written will not affect anyone, especially the citizens and the places they do business in. I was downtown this past weekend and it was business as usual and we have a big final 4 weekend coming up that is going to show everyone that nothing has changed.
It's disappointing when things like this happen, but as we saw in Arizona these are last ditch efforts that won't win in the long run. However as an investor it does make me less happy and less likely to spend my dollars in a state that promotes this kind of discrimination. I guess when I sell my flip this month I'll have to spend all my profits somewhere else :)
I think the bigger issue is the national attention that Indiana is getting from this from Businesses. Other states may have "similar" laws however it doesn't' seem that they've received the backlash from Businesses that Indiana has, and there to me is the big issue. What drives our ability to make money in REI is economics. Without businesses expanding in an area driving demand for housing then long term in my opinion why would anyone want to live there or stay there?
I think those who'll just shrug this off are in for a long term rude awakening that may hurt their bottom line. Sure, will some still be able to make money, yes. I'm sure of it. But further out as long as this is the place where the line is drawn in the sand for Business it's not a place I would like to have a buy and hold.