Home Ownership

[Gatordash]

Originally Posted by -TK- [You must be logged in to view images. Log in or Register.]

Did you see the home equity loan numbers from Q2 2020 through now? Big sheesh. That will compound the crash.

I'm locked and loaded with feelers already out to pick up a couple more properties during the coming downturn. Just a waiting game now. My purchases between 2008-2015 were some of my best investments to date. They all have at least doubled in value and each brings in $2,000-$2,600 a month in rent here in CO.

Based on the US Census Bureau alone, 7.4% of homeowners are late on mortgage payments. Of those late on mortgage payments, 18.5% think they are heading to foreclosure in the next 2 months, while 81.5% think they will be able to catch up on payments.

If these numbers are accurate (and its just a government census poll so who knows), then 1.36% of people who own homes are expecting to get foreclosed on pretty soon.

According to Pew Research, in 2008 and first quarter 2009, the national foreclosure rate was 1.8%.

[Bardp1999]

Homes in general are nicer these days so they cost more. Housing is very rarely a bad investment, buy now or forever be a rent cuck

[Jibartik]

When we say, seize the wealth.. we mean homes.

Got to have homes for the workers!

Don't worry you're right though, the one you have now is too nice, you'll be fitted with one more humanitarian.

[Jibartik]

US home prices surge 17% in May, fastest in 17 years

Right before a recession, this is fine.

[Bardp1999]

My friends house in Austin, TX went up almost 200k on Zillow between January and March. I live in Dallas/Ft Worth and we saw a surge, but nothing so dramatic

[Gustoo]

Ya but what is going to set off the next financial catastrophe?

Will it be just creeping inflation making the whole economy tank?

Combined with workers who don't want to do menial under appreciated work for the same pay they got on vacation?

Or will it be an actual burst bubble of some kind?

I've had concerningly good returns in my 401k in the last 6 years, hopefully that doesn't all disappear.

[Jibartik]

I met a guy out in the south once who was a waiter and owned a 500k home lol

That's what is going to cause it [You must be logged in to view images. Log in or Register.]

There was a recession 10 years before the depression.

The housing crash was 10 years ago...

It's no big deal, just inevitable [You must be logged in to view images. Log in or Register.]

If we play our cards right during the crash we can have aa civil war 2 and kids of the future will look to history books wondering what that was about it will say "they just really didn't like each other"

[Jibartik]

Originally Posted by Gustoo [You must be logged in to view images. Log in or Register.]

I've had concerningly good returns in my 401k in the last 6 years, hopefully that doesn't all disappear.

The crash from the depression, among other things, came from people investing too much into a market that seemed to have no ceiling, so the stocks will keep going up and up, oh wait....

This was in itself creating a market, for itself, and it kept going up and up, until like all MLMs it hit a plateau and it all came crashing down....

Compared to today, where we know about all that and dont make the same mistake twice...

EXCEPT that we just invented a brand new digital global market... that seems to have no celling, so the stocks will keep going up and up oh wait.... see the above bolded text...

Basically I think once we hit a cap on this new global market (which we are either close to, or far from) then we will see the next crash.

So much of the boom we've had in the last 20 years is a result of the internet and mobile phones, and giving billions of users access to all kinds of demographics and markets they were previously not able to hit.. sooner or later those markets are going to dry up and the house of cards we built around it will collapse, that's what I think.

[Gwaihir]

Originally Posted by Jibartik [You must be logged in to view images. Log in or Register.]

When we say, seize the wealth.. we mean homes.

Got to have homes for the workers!

Don't worry you're right though, the one you have now is too nice, you'll be fitted with one more humanitarian.

The workers that don't work

Which by merit means the working class gets an automatic promotion to petit-bourgeosie, pay is the same.

[Gwaihir]

Originally Posted by Jibartik [You must be logged in to view images. Log in or Register.]

I met a guy out in the south once who was a waiter and owned a 500k home lol

That's what is going to cause it [You must be logged in to view images. Log in or Register.]

There was a recession 10 years before the depression.

The housing crash was 10 years ago...

It's no big deal, just inevitable [You must be logged in to view images. Log in or Register.]

If we play our cards right during the crash we can have aa civil war 2 and kids of the future will look to history books wondering what that was about it will say "they just really didn't like each other"

They'll talk about how it was crazy that Jesus talked to the Samaritan woman at the well, and how that was totally crazy because she was a SAMARITAN which was like, totally bad.