President Joe Biden - Kamala Harris Administration

#26,751
#26,751
BreatheUT said:
There's only one argument against that. Supply was high in 08. That is not the case now. So it'll be interesting how this shakes out because investment companies are holding property.
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You also have had all-time historically low interest rates for 5+ years. Everybody with even a small fraction of a brain that purchased during that time frame is locked in at those historically low fixed interest rates. People that held homes before that time frame should have refinanced to those historically low fixed rates during that time period. Finally, home prices have run up so much over the last 7 years (and much of that was over the last two years) that homeowners have a lot of equity built up.
 
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#26,753
#26,753
VolStrom said:
I pulled my money from the stock market a couple of months ago, and I fully expect a really bad crash. The liberal ruling class might try to prolong the agony until after November, but they're going to have a hard time putting it off that long.
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I need to move my retirement funds into something less risky, but I honestly hate investing and finances. I'd rather do almost anything than manage money ... that and fill out forms which makes it a double hit on changing where the retirement funds are. Phones, too. I guess a lifetime of working and trying to fend off bean counters and other administrators will do that to you. And the phone. I remember going in to work and thinking, things are quiet, I'll get that crap job I've been avoiding out of the way. Next thing you know that crap job doesn't even make the list of stuff to handle. Nothing good ever came of answering the damn phone.
 
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#26,754
#26,754
NorthDallas40 said:
New construction will take it in the shorts in the near term until the bottom falls out of material prices again. But then we’ll be in recession so…
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Things are setting up to be much worse for the next Congress and probably next POTUS given the decimating decisions and issues facing the country today. I predict progressives on the board will have a short memory and try to shift the blame to Republicans once democrats are ejected.
 
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#26,756
#26,756
BreatheUT said:
Things are setting up to be much worse for the next Congress and probably next POTUS given the decimating decisions and issues facing the country today. I predict progressives on the board will have a short memory and try to shift the blame to Republicans once democrats are ejected.
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The GOP historically takes the financial hit when the dems are driven out. Generally it starts with rebuilding the shambles the dems have made of the military and then goes from there. Add in the interest payments on all the entitlements and other programs dems put in place, and there's no way even fiscally responsible people can avoid adding to the debt.
 
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#26,757
#26,757
Vol423 said:
You also have had all-time historically low interest rates for 5+ years. Everybody with even a small fraction of a brain that purchased during that time frame is locked in at those historically low fixed interest rates. People that held homes before that time frame should have refinanced to those historically low fixed rates during that time period. Finally, home prices have run up so much over the last 7 years (and much of that was over the last two years) that homeowners have a lot of equity built up.
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Agreed. I totally missed the boat with antiquated thinking of staying in a home or at least not understanding how to leverage the Middle Tn market. When I started looking at it, a year ago the end was near and basically too late. We will probably never see those times again with the mix of supply, rate and price.
 
#26,758
#26,758
BreatheUT said:
Agreed. I totally missed the boat with antiquated thinking of staying in a home or at least not understanding how to leverage the Middle Tn market. When I started looking at it, a year ago the end was near and basically too late. We will probably never see those times again with the mix of supply, rate and price.
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I'm frustrated beyond belief in that respect. I have a house in middle TN, want out of this one in Chattanooga, and couldn't get my wife to move. The other part is she will inherit her dad's house in middle TN ... he's 95 and still spry, and I hope he live to 115, but you know the odds of that are very slim. So the chances are good that we'll have three houses at the bottom of the market.
 
#26,759
#26,759
AM64 said:
The GOP historically takes the financial hit when the dems are driven out. Generally it starts with rebuilding the shambles the dems have made of the military and then goes from there. Add in the interest payments on all the entitlements and other programs dems put in place, and there's no way even fiscally responsible people can avoid adding to the debt.
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I don't just blame the dem's for the entitlements but yeah they know you can't roll them back. Then we're stuck with things we can't afford. For instance the cost of illegal immigration cannot be easily erased. That's just one of many but it's a high avoidable cost.
 
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#26,761
#26,761
Vol423 said:
There should be ZERO tears shed and ZERO bailout money provided to anybody that stupid. Interest rates are the lowest in history. Give me a huge adjustable rate mortgage. While we’re at it, let me put down a $1 million bet on a single number on the roulette wheel.
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Don’t disagree at all. But when money is cheap agents push buying “as much house as you can afford” and they get bigger commissions. Instead of working towards a more manageable and stable payment in the long term people max what they can afford when adjustables are cheap and then wind up in trouble in times like this.

Ultimately the consumer is held accountable (or should be) for their financial decisions. Be it home loans or student loans. But you bet your ass there will be screeching for (stupid) consumer relief.
 
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#26,762
#26,762
Vol423 said:
There should be ZERO tears shed and ZERO bailout money provided to anybody that stupid. Interest rates are the lowest in history. Give me a huge adjustable rate mortgage. While we’re at it, let me put down a $1 million bet on a single number on the roulette wheel.
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It would be hard for me to believe as well. We could ask BB85 but he got laid off under the Biden administration.
 
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#26,763
#26,763
NorthDallas40 said:
Don’t disagree at all. But when money is cheap agents push buying “as much house as you can afford” and they get bigger commissions. Instead of working towards a more manageable and stable payment in the long term people max what they can afford when adjustables are cheap and then wind up in trouble in times like this.

Ultimately the consumer is held accountable (or should be) for their financial decisions. Be it home loans or student loans. But you bet your ass there will be screeching for (stupid) consumer relief.
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Moratorium on home loans till August of 24.
 
#26,765
#26,765
EXCLUSIVE VIDEO: Tour the Ecological Damage from Mass Migration on Texas Border River

EAGLE PASS, Texas — The Texas bank of the Rio Grande is littered with growing mounds of discarded garbage left behind by the thousands of migrants entering the United States. Breitbart Texas retraced the path taken by nearly 500 migrants each day.

EXCLUSIVE VIDEO: Tour the Ecological Damage from Mass Migration on Texas Border River
 
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#26,766
#26,766
Franklin Pierce said:
EXCLUSIVE VIDEO: Tour the Ecological Damage from Mass Migration on Texas Border River

EAGLE PASS, Texas — The Texas bank of the Rio Grande is littered with growing mounds of discarded garbage left behind by the thousands of migrants entering the United States. Breitbart Texas retraced the path taken by nearly 500 migrants each day.

EXCLUSIVE VIDEO: Tour the Ecological Damage from Mass Migration on Texas Border River
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We need to import some Nile crocodiles.
 
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#26,767
#26,767
NorthDallas40 said:
Don’t disagree at all. But when money is cheap agents push buying “as much house as you can afford” and they get bigger commissions. Instead of working towards a more manageable and stable payment in the long term people max what they can afford when adjustables are cheap and then wind up in trouble in times like this.

Ultimately the consumer is held accountable (or should be) for their financial decisions. Be it home loans or student loans. But you bet your ass there will be screeching for (stupid) consumer relief.
Click to expand...

My wife keeps telling me all the things that we should do before selling this house. She watches or at least did watch home improvement shows. I keep telling her look at who sponsors the shows because it's the same people who profit from bigger commissions if you sell your house at a higher price ... even if you don't get anything extra after the "improvement" cost. Maybe I'm an anomaly, but I'd rather pay less for a house and decide on new paint, flooring, cabinets, or whatever than let somebody put in cheap crap and run the price up; but I sure do get how somebody operating on a percentage commission would feel differently.
 
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#26,769
#26,769
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