financial melt down has already began

[grandpaknowall]

Wow, this thread has drifted

Drop & Drift! Now that's gun talk!

 

[PDXbiker]

So where does a fellow that owns a 400K home and two paid for vehicles, 6 figures in savings and zero CC debt fit in here. Should he be worried? WTF over if we're not in good shape now we never will be. Kick back, put on some good tunes, have a drink, smoke a bowl and let 'er buck.

Do you know me?

 

[CLT65]

A $400k home isn't really any big thing nowadays. Not that long ago it was something special, but now a regular old family-sized house in a regular neighborhood in town, on a 1/4 acre lot, can go for that much.

The accompanying property taxes is killing me. I was talking to my sister in the Midwest, and mentioned property values and taxes. She said their entire mortgage is about what my property taxes are, month for month.

Does this crazy high value of my house help me? Not in the slightest! The only way it would benefit me at all would be if I sold and moved to a region where land is cheaper.

 

[titsonritz]

Yeah it feels like 2008.

 

[titsonritz]

It's already happening in the classifieds, guys and girls.

View attachment 641498

That they over paid for when Obama was in office.

 

[Nick Burkhardt]

We need more dollars in circulation to keep the economy expanding

 

[zofoman]

...for the night is dark and full of terrors.

 

[notazombie]

A $400k home isn't really any big thing nowadays. Not that long ago it was something special, but now a regular old family-sized house in a regular neighborhood in town, on a 1/4 acre lot, can go for that much.

The accompanying property taxes is killing me. I was talking to my sister in the Midwest, and mentioned property values and taxes. She said their entire mortgage is about what my property taxes are, month for month.

Does this crazy high value of my house help me? Not in the slightest! The only way it would benefit me at all would be if I sold and moved to a region where land is cheaper.

Yup. Those high taxes were a driving factor in my relocation. Once I got the new place built and settled in, wouldn't you know it, I got a letter from the county that taxes are being "recalculated" due to a state-wide mandate. Because of the series of good decisions, dumb luck, and market changes, and fortunate timing, I'm still ahead of the game. Current house has market value of close to 4x what I paid for former house and current property taxes about the same as former house in 2005. But you're right, it's only worth more when you cash out. I like the land but my wife has no interest outside the walls so she's been instructed to sell and buy a condo when I die. Should leave her with a nice extra cushion to supplement the rest of the retirement nugget. If I was a single guy I'd probably live in a small apartment built inside a large shop on some secluded acreage.
/Complaining, not complaining.

 

[308]

Yup. Those high taxes were a driving factor in my relocation. Once I got the new place built and settled in, wouldn't you know it, I got a letter from the county that taxes are being "recalculated" due to a state-wide mandate. Because of the series of good decisions, dumb luck, and market changes, and fortunate timing, I'm still ahead of the game. Current house has market value of close to 4x what I paid for former house and current property taxes about the same as former house in 2005. But you're right, it's only worth more when you cash out. I like the land but my wife has no interest outside the walls so she's been instructed to sell and buy a condo when I die. Should leave her with a nice extra cushion to supplement the rest of the retirement nugget. If I was a single guy I'd probably live in a small apartment built inside a large shop on some secluded acreage.
/Complaining, not complaining.

You should see the crap they have listed in Star/Middleton/Emmett/New Plymouth in excess of $300K
Freaking real estate photographers with their photoshop and wide angle lens can make a pig look like a runway model

 

[notazombie]

Haha, mine actually worked the other way. It was a sale by seller listing with horrible photos listed only on one site. Pure dumb luck that I found at all. That was 3 1/2 years ago and the values down here have increased pretty noticeably. Like I said, good timing and dumb luck. I'll take what I can get.

 

[oremike]

I have not read the whole thread so if this was said before I'm sorry. If property was bought as a short range investment then the fluctuations large and small affect you. But there are other reasons to buy a house, we bought our house and plan on it being paid for by the time my wife retires. That way when our income drops there will be no more mortgage payment basically making it that much easier to live with in our means. When I pass she will be able to stay here for the cost of utilities and taxes. I do like seeing that the value of my house keeps inching up but like what was said before that is only if I sell. Lastly and most important to me is when you own property you have property rights like water, mineral, trespass, search and seizure. Living in an apartment you have none of that.

 

[308]

Haha, mine actually worked the other way. It was a sale by seller listing with horrible photos listed only on one site. Pure dumb luck that I found at all. That was 3 1/2 years ago and the values down here have increased pretty noticeably. Like I said, good timing and dumb luck. I'll take what I can get.

3-1/2 yrs ago makes a difference. My dad bought his place for $250K...nice home with 2-acres out of town now showing $450 on zillow

 

[WaGuy52]

The reality is nobody knows what this means. We are in an unprecedented period of growth. It is true that the Trump tax cut to corporate oligarchs used the $1.4T deficit spend tax gimmies to purchase back $1T in stock. This is artificially inflated stock prices without increases in productivity, sales, or capital investment… However, the long range economic fundamentals are quite strong, unemployment continues to decrease, construction permits (future growth) continue at record levels.. I remember prior to the '08 crash, everyone and their brother was mortgage broker. I had friends coming out of the woodwork trying to get me to refinance (never did). People without jobs and insufficient income were getting loans… aka NJNI (pronounced ninja loans) no job, no income. The secondary or sub-prime market was selling garbage loans as AA & AAA rated investments. When the economy lost steam, as it does cyclically, there was nowhere to go but topple. (watch the move "The Big Short"). None of those pre-2007 indicators are in place. Sales of durable goods are also strong. Again, these are uncharted, unprecedented times. Anybody can guess anything. I will say that so long as hiring and durable goods remains strong, we've got at least 12 months of good economy.
None of the really relates to firearms… other than there's never a better time than now to purchase what you've always wanted….

 

[DizzyJ]

Sucks on the glooming market side of things.

On a positive note, I got an offer I can't refuse from a foreign prince needing help moving his money to the US! Sounds like I'll be able to hit retirement in a couple weeks just by loaning him a couple thousand dollars to secure his money in an account here!!!!

Woo hoo! Life is good!

 

[Certaindeaf]

Sucks on the glooming market side of things.

On a positive note, I got an offer I can't refuse from a foreign prince needing help moving his money to the US! Sounds like I'll be able to hit retirement in a couple weeks just by loaning him a couple thousand dollars to secure his money in an account here!!!!

Woo hoo! Life is good!

Instill panic, profit! op'd be proud

 

[Neostratos]

. . . commensurate unsecured debt (for which would be impossible to collect, and in the "end" your credit score is meaningless) versus zero debt and zero goods. Right?!

And, also, if you buy $50,000 in goods with today's dollar and stock them, and then the end comes and the dollar becomes worth say 1/10th, it would be easy to repay that as it would only be $5,000 in "value." Or if the dollar becomes "worthless" you can easily repay it with discarded $100 bills. "Here ya go, here's that $50,000 I borrowed..." Meanwhile you're sitting on useful goods.

And for unsecured loans, the lender is toast, really. Nobody from a credit card company or the student loan folks are going to come knocking for their cash, which will be presumably worthless anyway...

I thought as you do and made some self-preparedness purchases on credit. I don't regret it as harder times are coming for sure. We can see the hyperinflation already in food prices. But after listening to Lynette Zang I believe it's best to be debt-free if possible. The banksters are ruthless and will likely come after every dollar.

At some point banksters will transfer dollar-based debt to their new monetary scam, likely a crypto-currency based on the SDR since electronic money is easier to track, tax, and steal. Debts will likely be transferred to the new currency and the interest rate raised to match the effects of hyperinflation. If your debt is fixed-rate then your plans have a better chance of success. But you still want to get rid of it since the banks do not forget or forgive and work hard to make us all debt-slaves. Any debt leaves us vulnerable to them screwing with us.

I paid off my variable-interest rate loan and negotiated my outstanding debt to a 1.25% fixed-rate loan.

As for mortgages, the banks have the right to call in any mortgage in full and foreclose if the bank needs your cash. The more equity you have, the more you stand to lose if you cannot pay off your entire mortgage overnight. In 2008 the banks did this and reaped an incredible amount of assets.

According to Quantum physics we're all just avatars in a virtual world. So we'll all do the best we can, and I'll see you all post-game to compare notes.

 

[Neostratos]

And merchants set prices with the expectations of getting card purchases so if you pay with cash and don't get the cash back, or a discount for paying cash, you're getting double screwed.

Using cash will cost more because the banks want us to go electronic. Strong evidence the banks developed crypto-currencies and are letting people get used to them for now. When they want us to (voluntarily) give up cash and go entirely digital then everything paid for with cash will cost increasingly more.

What happens when cash is no longer accepted and I'm dependent on my bank chip (either in the credit card or in my body).
Well, one day I call them 'banksters' on a NWF post and the next day my chip won't work and I can't buy food, gas, or pay my bills.

This is a real problem facing us. Should I pay attention and maybe try to play some small part towards doing something about all this? At least talking about it while we can? Much easier to leave such problems for our children to deal with (good luck with that). So how is the 9mm vs .45 conversation going?

.
They milk us like cattle.

I think maybe that's why there's such a drive to confiscate guns before the monetary reset. People with nothing more to lose, sometimes lose it.

 

[Member 34319]

I tell you what, I'll sell the first 1,000,000 members my book on how to make a million dollars for only a dollar.

 

[ob1]

​

 

[American123]

Using cash will cost more because the banks want us to go electronic. Strong evidence the banks developed crypto-currencies and are letting people get used to them for now. When they want us to (voluntarily) give up cash and go entirely digital then everything paid for with cash will cost increasingly more.

What happens when cash is no longer accepted and I'm dependent on my bank chip (either in the credit card or in my body).
Well, one day I call them 'banksters' on a NWF post and the next day my chip won't work and I can't buy food, gas, or pay my bills.

This is a real problem facing us. Should I pay attention and maybe try to play some small part towards doing something about all this? At least talking about it while we can? Much easier to leave such problems for our children to deal with (good luck with that). So how is the 9mm vs .45 conversation going?

.
They milk us like cattle.

I think maybe that's why there's such a drive to confiscate guns before the monetary reset. People with nothing more to lose, sometimes lose it.

I'm not saying get rid of cash. That WOULD be terrible, but I am saying that its a choice to use it. I have no desire to use crypto-currency. It boggles my mind that some people would assign value to that.

Like me making my own currency and then having people start to assign value to it.