Greater Recession Coming??

billy backstay

Backstay, never bought a suit, never went to Vegas
You say “debt” like it’s a bad thing. Look up the economic woes under asset-based money. Think inflation sucks now? Imagine the price swings of consumables if bitcoin was our currency. Remember, debt for one party is an asset for the other party.

And it’s not possible for the Fed to run out of cash. They can literally create it.

Debt is the key to successful real estate investing; the Tenant provides the mortgage payment for the Landlord every month.
 

billy backstay

Backstay, never bought a suit, never went to Vegas
The interesting thing about debt,
If you want to buy a house cash, you earn (working) and pay taxes on money made.
but if you buy a house with a mortgage, it's a tax deduction

And if you own rental property, reasonable expenses for repairs and improvements, maybe even a company car, are tax deductible, but not so with your primary residence or personal vehicle.
 

Peter Andersen

Anarchist
881
206
It’s happening right now


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Zitzy, that article dosnt prove anything. So tell us what is the buyers alternative? The 'good' cryptos are down 75 percent YOY. Chinese govt bonds?
 

Steam Flyer

Sophisticated Yet Humble
45,283
10,109
Eastern NC
When buying gov't bonds, it's important to remember whether that gov't has stiffed it's bondholders.

When a person borrows money, then not just refuses to pay it back but uses threats of violence to prevent complaints, you probably ought not loan more money to them. This applies to the US gov't under Republican leadership too.
 

El Borracho

Verified User
6,825
2,784
Pacific Rim
It’s happening right now


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It’s happening right now? Then why do the writers write “could”? I stop reading such articles when I hit “could” or “might”. A meteorite “could” hit DC. Worthless speculation about the future. The fact is that no other countries but the G7 are presently in a position to have anything but a secondary reserve currency market.
 

slug zitski

Super Anarchist
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worldwide

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billy backstay

Backstay, never bought a suit, never went to Vegas
When buying gov't bonds, it's important to remember whether that gov't has stiffed it's bondholders.

When a person borrows money, then not just refuses to pay it back but uses threats of violence to prevent complaints, you probably ought not loan more money to them. This applies to the US gov't under Republican leadership too.

When have the Democrats ever had a tantrum and threatened to shut down the Government?
 

Steam Flyer

Sophisticated Yet Humble
45,283
10,109
Eastern NC
When have the Democrats ever had a tantrum and threatened to shut down the Government?

I was talking about gov't in general... for example, if you want REAL fiscal treachery then how about Ferdinand and Isabella (the ones who gave Christopher Columbus his big break); they borrowed money from Jews to afford the soldiers to take over what is now Spain, then not only didn't pay them back but confiscated what the Jews had left and expelled the ones they didn't burn at the stake.

As far as I know, no serious Democratic Party candidate or officeholder has proposed the USA default on it's debts, in the past 100 years. Republicans have proposed it several times including this coming session.
 

d'ranger

Super Anarchist
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4,527
I always enjoy the latest whackadoodle news from Sluggo and JT.
It's the end of the world. again. like deva vu again.
fwiw many of us here warned about the collapse in 08, for several years, not that the usual suspects could possibly remember facts and shit.
 

billy backstay

Backstay, never bought a suit, never went to Vegas
I always enjoy the latest whackadoodle news from Sluggo and JT.
It's the end of the world. again. like deva vu again.
fwiw many of us here warned about the collapse in 08, for several years, not that the usual suspects could possibly remember facts and shit.

Last years real estate boom certainly felt like pre-07/08!! Pretty slow right now, but I expect the interest rate shock will ease in good time. Rates were double digit in '84 so owners were instead holding the mortgage with a 5 year balloon.
 

Raz'r

Super Anarchist
63,056
5,820
De Nile
Last years real estate boom certainly felt like pre-07/08!! Pretty slow right now, but I expect the interest rate shock will ease in good time. Rates were double digit in '84 so owners were instead holding the mortgage with a 5 year balloon.
The Zillow for our home had a crazy peak in April, and now down 20% from that moment.

Only people hurt of course are those who bought at the peak. Not a large % of the owners.
 

billy backstay

Backstay, never bought a suit, never went to Vegas
The Zillow for our home had a crazy peak in April, and now down 20% from that moment.

Only people hurt of course are those who bought at the peak. Not a large % of the owners.

Zillow doesn't give us a price but Refin puts our house at 40-50% more than we paid 3 and a half years ago. Probably could have got that in the spring, not that we have any intention in moving, but doubt we'd get that now. I was a broker when Zillow first began, and it was a runnig joke, because they didn't have a deep enough database to give credible estimates. They are much closer to reality now with a much deeper base, but still can't discern between a 40 year old interior with a total newly renovated one. Our accountant had no intention of selling his house when my former partner told him he could get over a million for a home they paid less than half that for ten or so years ago. He banked a bunch of money and is very happy!
 

Raz'r

Super Anarchist
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De Nile
Zillow doesn't give us a price but Refin puts our house at 40-50% more than we paid 3 and a half years ago. Probably could have got that in the spring, not that we have any intention in moving, but doubt we'd get that now. I was a broker when Zillow first began, and it was a runnig joke, because they didn't have a deep enough database to give credible estimates. They are much closer to reality now with a much deeper base, but still can't discern between a 40 year old interior with a total newly renovated one. Our accountant had no intention of selling his house when my former partner told him he could get over a million for a home they paid less than half that for ten or so years ago. He banked a bunch of money and is very happy!
Selling for bank is great, unless that’s where you want to live.
 

billy backstay

Backstay, never bought a suit, never went to Vegas
Selling for bank is great, unless that’s where you want to live.

For sure! We have no interest in selling having already downsized, but our Accountant is building a new 2-family for his daughters family to share with he and his wife, which will allow them one floor living and family onsite when they retire. The house they sold was way too big for just two people once the kids had flown the nest. I don't understand couples needing or wanting much more than 1500 sq. ft., but that's just us. The more and larger the stuff you own, the more taxes, maintenance and cleaning is required.
 

Raz'r

Super Anarchist
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De Nile
For sure! We have no interest in selling, but our Accountant is building a new 2-family for his daughters family to share with he and his wife, which will allow him one floor living and family onsite whenever they retire. The house they sold was way too big for just two people once the kids have flown the nest.
Yep, our house will be too big in 1 1/2 years, but the house isn't the issue around here, it's the cost of the land. They can scrape off the house, and STILL make money building a new one. Old houses can detract from the land value. Crazy, I know.
 




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