Sell Off

[OldSchoolBoats]

I bought it hook, line and sinker. Still hurts when I laugh. LOL.

I know people that are in the boat that you described. Then there are the ones who have. A family business worth a substantial amount of money that they will never really spend just because that is the way that they are.

Different strokes for different folks. I applaud people who have fun, spend their hard earned money and enjoy life. My buddy is a dentist in Wyoming and they live it up. They travel all over the world, first class all the way as a family of 4. His kids have been to so many countries it is insane. They take a trip every other month it seems. Then you have people like my FIL who is retired and has more than he knows what to do with but never travels, house could use a remodel, still drives the same Acura CL he had when I first met him almost 20 years ago.

He did sack up and buy a Porsche a few years back but not sure how much day light it actually gets to see.

 

[HNL2LHC]

Different strokes for different folks. I applaud people who have fun, spend their hard earned money and enjoy life. My buddy is a dentist in Wyoming and they live it up. They travel all over the world, first class all the way as a family of 4. His kids have been to so many countries it is insane. They take a trip every other month it seems. Then you have people like my FIL who is retired and has more than he knows what to do with but never travels, house could use a remodel, still drives the same Acura CL he had when I first met him almost 20 years ago.

He did sack up and buy a Porsche a few years back but not sure how much day light it actually gets to see.

Yeah, I have seen people leave a significant amount of money behind when they pass. I just wonder what goes through their minds. Fear of not have the $$$ if needed or to give it to the family members after death. Just really interesting to me.

 

[OldSchoolBoats]

Interesting

Mortgage delinquency rate falls to historic low - HousingWire

The overall mortgage delinquency rate dropped five basis points to 2.75% in May, according to Black Knight. That's the lowest level ever recorded.

www.housingwire.com

 

[Cdog]

The biggest irony of all if you look at the forest from the trees:

Young adults enter the world with 12-16 years of education but zero to little personal finance and economics knowledge. They weren’t given the tools to understand how their decisions with money will directly impact their lives. LOL 12-16 years of history, social studies, art, music, trans studies and maybe a 1/2 semester elective of finance.


When all the basic errors that could have been avoided are made and they crash and burn, then repeat the cycle 15 years later and they have kids that follow in their footsteps, the Academics and liberals will tell them Capitalism isn’t working and left them behind, and that’s exactly where we are today.

1/3rd of their productive life is spent teaching them how to be unproductive.

Rinse , wash & repeat.

The older Gen always needs a new idiot to cash them out of the Ponzi scheme

 

[dnewps]

Who could have seen anything coming?

Tech companies with no profit and 50+ PEs
Daily SPAC IPOs up 200%+ without even a formed company - big wtf
NFTs, lol enough said
Bitcoin imaginary money goes up 400%
Homes up 40-100%
Drunken spending on RV, boats, houses
S&P trading at 35 times earnings.

The Fed rate increases, balance sheet run off and fuel prices were the equivalent of hearing that the neighbors just called the cops on the party in January - time to leave.

The real pain is yet to come because the average American consumer ( who can’t spell economics let alone understand it) won’t adjust until they are spent out, fully leveraged and are in trouble meeting obligations.

If you bought in the last 24 months and are sitting on a 3% fixed and don’t have to move anytime soon then enjoy your home and forget all this bull shit. My guess is, hope not, more people are way out over their skis than we think.

So you think that the inflation happened and now the bubble is bursting...AKA deflation?

 

[dnewps]

Imagine driving a car and needing to turn the wheel 30 seconds prior to the road turnoff. That’s the FED!!! they ALWAYS fuck up!

 

[2Driver]

So you think that the inflation happened and now the bubble is bursting...AKA deflation?

I don’t know but cheap money, investors and speculation fueled runaway housing prices. Investors see the price corrections and affordability issues and are starting to exit. The traditional home buyer is being sidelined with significantly higher monthly cost of ownership for the same house. Seems like it has no where to go, but how much who knows?

2 things major things have been proven wrong in a matter of just 8 weeks: 1.The consumer is strong. 2. The lack of housing supply will hold up the housing market.

 

[dnewps]

Interesting

Mortgage delinquency rate falls to historic low - HousingWire

The overall mortgage delinquency rate dropped five basis points to 2.75% in May, according to Black Knight. That's the lowest level ever recorded.

www.housingwire.com

Isn’t your boat always the fastest when it goes lean? Then it blows up and you are floating.

 

[dnewps]

I don’t know but cheap money, investors and speculation fueled runaway prices. Investors can see price corrections and affordability issues with the increase rates and are exiting. The traditional home buyer is being sidelined with significantly higher monthly cost of ownership for the same house. Seems like it has no where to go, but how much who knows?

2 things proven wrong in a matter of just 8 weeks was 1. The consumer is strong and 2. The lack of supply will hold up the housing market.

I don’t have the answers. I was genuinely asking. You have an excellent point. At sub 3 rates, people don’t have an incentive to move. Stocks AND bonds are down, so institutional money is still attracted to RE. Maybe houses don’t drop much. What do you do for a living, you seem to have insight.

 

[Cdog]

Imagine driving a car and needing to turn the wheel 30 seconds prior to the road turnoff. That’s the FED!!! they ALWAYS fuck up!

It’s more like an accelerator that works like an on & off switch.

Nothing to full retard in a flip of a switch

 

[Cdog]

I don’t know but cheap money, investors and speculation fueled runaway housing prices. Investors see the price corrections and affordability issues and are starting to exit. The traditional home buyer is being sidelined with significantly higher monthly cost of ownership for the same house. Seems like it has no where to go, but how much who knows?

2 things major things have been proven wrong in a matter of just 8 weeks: 1.The consumer is strong. 2. The lack of housing supply will hold up the housing market.

Maricopa county today. Up from 7k just months ago.

 

[2Driver]

I don’t have the answers. I was genuinely asking. You have an excellent point. At sub 3 rates, people don’t have an incentive to move. Stocks AND bonds are down, so institutional money is still attracted to RE. Maybe houses don’t drop much. What do you do for a living, you seem to have insight.

Thanks, retired by but a private money lender for 16 years as a source of investment income. I stopped all new lending in January and wish I had a bit earlier, but we’ll see.

 

[2Driver]

Maricopa county today. Up from 7k just months ago.


View attachment 1131678

At some point back in the crisis we hit like 40k I think. I just need the exclusive area of PV and the large cash buyer market to hold for a bit, but I’m prepared to eat some shit. My only other deal is in Durango and it’s safe….I tell myself

 

[grumpy88]

Yeah, I have seen people leave a significant amount of money behind when they pass. I just wonder what goes through their minds. Fear of not have the $$$ if needed or to give it to the family members after death. Just really interesting to me.

If everything goes right that will be me ! No way do i want to leave a financial burden to my daughter or grandson and i certainly dont want to end up in a state run facility .

 

[2Driver]

Yeah, I have seen people leave a significant amount of money behind when they pass. I just wonder what goes through their minds. Fear of not have the $$$ if needed or to give it to the family members after death. Just really interesting to me.

So I’m sort of in the leave it behind mode.

Fear of running out is there God forbid it can happen, but I look at it like a business. I wouldn't walk away from a prospering business, I’d pass it on to let it make a living for my heirs

If I’m fortunate to have enough money that it creates significant income then I’m happy. So I just assume let the principal do the same for generations to come. As long as it doesn’t end up being blown by someone down the line but that’s not how I raised my kid so I’m not concerned it will create a trust baby.

 

[HTMike]

Did their payment change (increase)? Only downside is resetting the loan back to 30 years.

I imagine. One owed 680 and pulled a million in equity. So 1,680,000. I thought he said his payment was 10 or 12k a month. Bought a house in SWFL at the peak and now that house has lost 300k of value and likely a lot more in the near future.

 

[Havasu blue label]

They don’t look at the resetting of the loan it’s 3 percent and a river house with a 3 percent fun days will come

 

[pronstar]

My philosophy:
Buy when things are cheap.
Sell when things are expensive.

Things have been expensive for quite some time…

Al of this proves once again:
The cure for high prices, is high prices.

 

[OldSchoolBoats]

They don’t look at the resetting of the loan it’s 3 percent and a river house with a 3 percent fun days will come

What loans are resetting? All the 3% and below loans are fixed.....

 

[badgas]

Interesting

Mortgage delinquency rate falls to historic low - HousingWire

The overall mortgage delinquency rate dropped five basis points to 2.75% in May, according to Black Knight. That's the lowest level ever recorded.

www.housingwire.com

Knock it off !

Only articles that predict the end will be allowed in doom and gloom threads.

 

[LargeOrangeFont]

What loans are resetting? All the 3% and below loans are fixed.....

I think we are down to 75 days now..the 50% off sale will happen

 

[OldSchoolBoats]

I think we are down to 75 days now..the 50% off sale will happen

Well I just closed on my HELOC and am ready to pounce on something......

 

[bentprops]

Thanks, retired by but a private money lender for 16 years as a source of investment income. I stopped all new lending in January and wish I had a bit earlier, but we’ll see.

THIS IS WHAT CAUSES CRASHES RIGHT HERE! They give out easy money like its going out of style, than take aways the punch bowl and the hangover begins. BOOM BUST! 100% banks fault 100% avoidable. END THE FED!

 

[bentprops]

My philosophy:
Buy when things are cheap.
Sell when things are expensive.

Things have been expensive for quite some time…

Al of this proves once again:
The cure for high prices, is high prices.

This is great except, when you run out of things to sell and prices keep going up. Than all that cash starts losing value.

 

[bentprops]

My prediction is deflation, they didnt spend the last 40 years getting eveyone into debit up to their eyeballs to bail them out with inflation.

 

[2Driver]

THIS IS WHAT CAUSES CRASHES RIGHT HERE! They give out easy money like its going out of style, than take aways the punch bowl and the hangover begins. BOOM BUST! 100% banks fault 100% avoidable. END THE FED!

LOL one retiree not lending out his savings isnt going to do a thing anymore than you not buying stock right now because you dont want to risk your savings either

Want to see another financial crisis, have banks continue to lend into a high risk market.

 

[gqchris]

My philosophy:
Buy when things are cheap.
Sell when things are expensive.

Things have been expensive for quite some time…

Al of this proves once again:
The cure for high prices, is high prices.

And thats why I sold off EVERYTHING! People think I am crazy, but I am so glad I did last year. Covid Gold!

If you are timing your sell off in relation to RD's toon listing, you are too late!

 

[HTMike]

My prediction is deflation, they didnt spend the last 40 years getting eveyone into debit up to their eyeballs to bail them out with inflation.

100%.

Deflation always comes after inflation. Like in the 80's when a savings account paid 10% interest. NOBODY had money.

 

[Cdog]

I'm starting to see a big push for people to return to office for work. Sayings like WFH = Job. Work at office = Career.

Nasdaq & S&P corrections will eventually = lay offs in tech business's means WFH people have to go back to have a work at office job.

The fall out will be interesting

 

[LargeOrangeFont]

I'm starting to see a big push for people to return to office for work. Sayings like WFH = Job. Work at office = Career.

Nasdaq & S&P corrections will eventually = lay offs in tech business's means WFH people have to go back to have a work at office job.

The fall out will be interesting

This is an interesting one, as it comes down to each firms culture. Many of the workers don't want to go back... the genie has left that bottle for high paying jobs. I know many managers and directors that have been hired that are simply saying no, I'm not going in.

Eventually working from home will be a cost cutting measure as maintaining half full or less leases for office space is stupid.

 

[Cdog]

This is an interesting one, as it comes down to each firms culture. Many of the workers don't want to go back... the genie has left that bottle for high paying jobs. I know many managers and directors that have been hired that are simply saying no, I'm not going in.

Eventually working from home will be a cost cutting measure as maintaining half full or less leases for office space is stupid.

There's a whole campaign to get them back in the office. Saw it on linked in this morning. Once the employers have leverage again it will shift for the average employee.

 

[LargeOrangeFont]

There's a whole campaign to get them back in the office. Saw it on linked in this morning. Once the employers have leverage again it will shift for the average employee.

Yea I’ve seen that. Have fun getting good employees into the office when gas is $5 and your competitors let them work from home.

Most of the firms I deal with are trying 1-2 days a week in the office.

 

[Cdog]

Yea I’ve seen that. Have fun getting good employees into the office when gas is $5 and your competitors let them work from home.

Most of the firms I deal with are trying 1-2 days a week in the office.

Fair enough." Everyones gangsta till it's time to do gangsta shit"

 

[Paradox]

And thats why I sold off EVERYTHING! People think I am crazy, but I am so glad I did last year. Covid Gold!

If you are timing your sell off in relation to RD's toon listing, you are too late!

We sold the So. Cal. house, sold the boat and now, thinking about selling the truck..

Only time will tell if it was the right move..

 

[Havasu blue label]

Will see this month who will announce work from is history

 

[Paradox]

I'm starting to see a big push for people to return to office for work. Sayings like WFH = Job. Work at office = Career.

Nasdaq & S&P corrections will eventually = lay offs in tech business's means WFH people have to go back to have a work at office job.

The fall out will be interesting

Nasdaq is already down almost 32% from its recent high. I really wonder how much lower it will actually go. I’m honestly thinking about modestly buying into a tracking fund (with some longer term money) at this point.

 

[Havasu blue label]

It’s getting close

 

[Kenny D]

You want to own things right now .......houses...boats...planes....cars and income property...I promise, your cash will be worth at least 10% less next year than it is today. All things will be worth more in 2 and 3 years from now.

 

[hallett21]

Wife and I’s house currently would rent at 2X the mortgage.

Can’t wait to move

 

[rrrr]

@2Driver

Read the Bloomberg article at this link it's very interesting and pertains to all of this.

There is no shortage of politicians and media sycophants telling us to shut up and enjoy the wage increases and low unemployment rate.