Financial Turmoil Abound

[arakboss]

Another terrible day in the markets. Revlon going bankrupt. No amount of lip stick is going to make the Crypto pig look good. An analyst on CNBC said we could see $175 a barrel oil this year.

If something positive is happening with your investments please share?

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[Alexx1401]

The only positive I see here is "maybe" voters will get a good wake up call. I have gotten REALLY sick of being called in on my days off, asked to stay late at the last second and such due to people who do not want to get out of bed and come to work. We need a good crash, we need people suddenly not finding jobs going begging. "Maybe" a little pain will wake some up. Sadly maybe not but, this was easy for anyone with a brain to see coming.

 

[Bam]

Gas will be near $7/gal if not over by September.

With Commieland reopening, demand for gas will only go up. Not sure how people draining their savings are going to weather this.

 

[Alexx1401]

Gas will be near $7/gal if not over by September.

With Commieland reopening, demand for gas will only go up.

Isn't it already over that in some places in CA? When I see them mention how high it is there I have to laugh. They have not seen anything yet. Wait till the summer heat gets going good and they keep losing power for their AC. Enjoy what you have been voting for people.

 

[RicInOR]

I think we may already have a thread on this topic:


Stock market on fire

 

[Mikej]

Another terrible day in the markets. Revlon going bankrupt. No amount of lip stick is going to make the Crypto pig look good. An analyst on CNBC said we could see $175 a barrel oil this year.

If something positive is happening with your investments please share?

What we have came from my depression era parents working their azzes off to the point I really wasn't raised much by my parents. It's in Morgan Stanley's hands with the same guy that did very well for them for 30 years before they passed. A real good guy. His passions are fishing and making people money. I haven't dared look at the account for two months now.
FJB twice, with the same board.

 

[TTSX]

It's a nice country we had, once. If the bottom really falls out, there will be many more homeless which will create more crappy neighborhoods which will tank housing prices which will cause further financial turmoil which will create more homeless....

 

[Alexx1401]

It's a nice country we had, once. If the bottom really falls out, there will be many more homeless which will create more crappy neighborhoods which will tank housing prices which will cause further financial turmoil which will create more homeless....

There is a HUGE difference though is "homeless" who choose that life, and those who just are up against it. For those who it happens to who do not want to live that way there will be work and help. Almost all the current crop of homeless are just scum who want to live like that. Sadly we seem to need a good wake up call here.

 

[arakboss]

I think we may already have a thread on this topic:


Stock market on fire

That thread was mostly focused on Stock market and is cursed. Evidently there was some less than excellent behavior in the thread and now each post has to reviewed before being posted to thread. Not my cup of tea.

 

[arakboss]

The housing situation is not likely to improve anytime soon, even with downturn.

Portland-area renters feeling the strain as housing costs soar

Portland metro rents have risen 8% over the past year.

www.google.com

 

[gryghin]

The housing situation is not likely to improve anytime soon, even with downturn.

Portland-area renters feeling the strain as housing costs soar

Portland metro rents have risen 8% over the past year.

www.google.com

If you think it's bad for renters, it's worse for small time rental owners. If a person bought another house in the Portland city limits to rent out to generate additional income stream, they generally still have a mortgage on the property.

With the "renters protection" a person could break lease wait 30 days to be served eviction and then stay rent free for 90 days.

That means 4 months or more of no rental income.

Ugh, I'm so fed up with the city & county management.

 

[Bam]

Ten years ago, if you told me houses in Hillsboro would go for this much, I'd call you nuts.

$669,990 for a 1,783 sq ft home, tiny 2,178 sq ft lot https://www.zillow.com/homedetails/4156-SE-75th-Ave-Hillsboro-OR-97123/2063408556_zpid/

$629,990 for a 1,596 sq ft home on a tiny 2,178 sq ft lot! https://www.zillow.com/homedetails/6843-SE-Treat-St-Hillsboro-OR-97123/334674579_zpid/

$680,000 tiny home next to a sewage treatment plant! https://www.zillow.com/homedetails/3762-SE-McKenzie-Ave-Hillsboro-OR-97123/186388499_zpid/

 

[BBQ Guy]

Another terrible day in the markets. Revlon going bankrupt. No amount of lip stick is going to make the Crypto pig look good. An analyst on CNBC said we could see $175 a barrel oil this year.

If something positive is happening with your investments please share?

Buy low, sell high.

In side hustle news, i hear that fentanyl is in high demand.

 

[Lilhigbee]

If you think it's bad for renters, it's worse for small time rental owners. If a person bought another house in the Portland city limits to rent out to generate additional income stream, they generally still have a mortgage on the property.

With the "renters protection" a person could break lease wait 30 days to be served eviction and then stay rent free for 90 days.

That means 4 months or more of no rental income.

Ugh, I'm so fed up with the city & county management.

And don't forget the $60/unit tax, and the business tax. And the fact that they figure the income from rentals in other states towards your income tax, even if you aren't an Oregon resident and they have no legal right to the money. And the fact that the "90 days" is a pipe dream. They'll be there until they decide to leave, with the Covid rules that are never going away. Our Portland rental has a good excellent tenant that has been with us for over fifteen years. If he moves out the For Sale sign will be up so fast he'll be able to see it in his rearview mirror. Our Vancouver rental has been empty since the new Covid rules came about in Washington. No way am I going to have deadbeat tenants and have to pay their utilities also and not be able to throw them out. Anyone want to buy a nice house in Orchards??

 

[Bam]

We shouldn't be worried. Biden said everything is okay and there is no way a recession can happen.

 

[arakboss]

Buy low, sell high.

In side hustle news, i hear that fentanyl is in high demand.

The fentanyl is like societies rat poison and it's working well.

 

[Alexx1401]

If you think it's bad for renters, it's worse for small time rental owners. If a person bought another house in the Portland city limits to rent out to generate additional income stream, they generally still have a mortgage on the property.

With the "renters protection" a person could break lease wait 30 days to be served eviction and then stay rent free for 90 days.

That means 4 months or more of no rental income.

Ugh, I'm so fed up with the city & county management.

Up here king jay let renters stay for a couple years due to the great hoax. Even now they have thrown up all kinds of hurdles the owner has to jump to kick out scum. Soon when none of them can rent anything the screaming will start. Then here will come gov with a "solution" that will of course make things worse.

 

[bkroger86]

The only positive I see here is "maybe" voters will get a good wake up call. I have gotten REALLY sick of being called in on my days off, asked to stay late at the last second and such due to people who do not want to get out of bed and come to work. We need a good crash, we need people suddenly not finding jobs going begging. "Maybe" a little pain will wake some up. Sadly maybe not but, this was easy for anyone with a brain to see coming.

Voters got a wake up call in 2020 when the markets crashed. Trump got booted 6 months after the markets got creamed. Biden could see the same fate, but Biden won't be in the ballot until November 2024…over 2 years from now. I think the current crash will definitely have an effect on midterm Congressional races though, which are on the ballot this year.

 

[arakboss]

We haven't even entered into recession yet and the car loan payments aren't getting paid. I should have sold my Ford shares when the price was over $20 a share.

 

[arakboss]

We haven't even entered into recession yet and the car loan payments aren't getting paid. I should have sold my Ford shares when the price was over $20 a share.

Somebody must be making bank to take on a $650 car payment.