Anyone preparing for the bubble to pop?

[SSJ4GOD]

Just curious what if anything you guys may be doing with many economists saying we are heading for a recession or even a depression. I know the housing market has to give at some point. Anyways, just wanted to see what everyone thought about this stuff.

 

[EpiStrong]

Foundation and land is really only where I'm putting my money now. It's sad for my younger family growing up. I gave my niece a budget price on my rental and she's done great going toward her masters now but I unfortunately can't help everyone.. her brother is paying nearly 2k just for rent on a small apartment...Wtf happened I have 4 more growing up in this modern mess.

 

[akboom87]

Originally I planned to buy a house but the housing prices sky rocketed and then interest rates sky rocketed. So I am renting, I can rent a nicer place then I can pay a mortgage in my area, sad as that is. The upside is I have no maintenance or cost involved, downside well it’s just renting.

I still have my 5th wheel and have my back up plan to go back traveling doing construction if all hell breaks loose, if that’s an option.

I feel like a lot of people where I live are going to be in a bad spot if things take a bad turn. Mortgages that no one can afford if the job markets tank, everyone has 2 vehicles and the payments to match. I got to witness it going through the 08/09 bubble and collapse.

 

[SSJ4GOD]

Originally I planned to buy a house but the housing prices sky rocketed and then interest rates sky rocketed. So I am renting, I can rent a nicer place then I can pay a mortgage in my area, sad as that is. The upside is I have no maintenance or cost involved, downside well it’s just renting.

I still have my 5th wheel and have my back up plan to go back traveling doing construction if all hell breaks loose, if that’s an option.

I feel like a lot of people where I live are going to be in a bad spot if things take a bad turn. Mortgages that no one can afford if the job markets tank, everyone has 2 vehicles and the payments to match. I got to witness it going through the 08/09 bubble and collapse.

Many people say this bubble will be worse than the 08/09 bubble. Hopefully all prices crash this time. Everything is is ridiculously priced now. Average car payment now is like $750 a month. I was looking at buying a house as well but I’m not about to jump into a $400000 mortgage only for the bubble to pop and go upside down real far

 

[akboom87]

Many people say this bubble will be worse than the 08/09 bubble. Hopefully all prices crash this time. Everything is is ridiculously priced now. Average car payment now is like $750 a month. I was looking at buying a house as well but I’m not about to jump into a $400000 mortgage only for the bubble to pop and go upside down real far

Same here I’ll rent for the foreseeable future. Some f150 pickups are 850 a month depending on your down payment of course. Insurance prices are ridiculous high. Also property taxes just keep going up.

I’m hearing the same thing in this could be one of the worst ones coming. Honestly don’t see how it’s avoided

 

[subweevil]

I used to say that if you wanted to make sure you had money, live below your means. That all went out the window, as even a decent living wage form a couple years ago won't even cut it now, it's flat out ridiculous. This has been a long time coming, just got white washed along the way. As was already said, walk a car/ truck dealership lot and take in the prices, it's mind boggling. Furthermore, house prices are minimum 15% above market and don't even get me going on interest rates. I cannot for the life of me remember when you could be upside down for so long on a house. Not only will this have an impact coming, but the aftermath will last as well. This didn't happen overnight, so guess what, it ain't going away overnight either.

 

[Rad83]

^ meanwhile #fjb is on vacation, again, this week

 

[SSJ4GOD]

^ meanwhile #fjb is on vacation, again, this week

Yup all while US troops in the Middle East get a new attack every day against them. Everything is falling apart so fast

 

[GreenMachineX]

^ meanwhile #fjb is on vacation, again, this week

What's fjb?

 

[cronikgains]

Keeping cash on hand and trying to earn as much as possible doing extra side work - I'm buying something at a discount, that's all I know. A house, maybe, more stock, more crypto, little bit of everything, idk yet.

 

[SSJ4GOD]

The debt crisis in America is absolutely crazy. I’m not speaking about national debt, but the American population consumer debt is absolutely wild! I don’t know how some people afford to live (I mean has to be credit at this point). I know people paying $1000 for a car/insurance with a $2000 mortgage and they make $4000 a month.

 

[xR1pp3Rx]

I've been screaming "Brace for Impact" for some time.

I am in the construction industry. which obviously, the bottom has fallen out of starting in 2020. Even in 08' the construction industry was still largely mom and pops outfits doing most of the work in the field outside of major cities. They scrounged their work and just barely hung on. It was rare back then to work for nationwide builders or subs. Lately they are the only ones doing anything.. even the remodel market has dropped off so far that it's not even possible to continue RN.

The ones left standing are just barely able to keep the lights on if there isn't big, big money behind em.

Another thing to note is while no one supposedly wants to work, that all the businesses are shuddering, instead of hiring. Odd that there isn't a giant vacuum being filled with the 10's of thousands of illegals pouring across the border every day. I'm sure they are looking for work, no? what are they all going to do when their pre-loaded debit cards are empty? Hunger makes people do funny things.

I think it's prudent to prepare as much as you can for your personal situation. The predictive programing coming from chomo-w00d is enough to tell you that something big is going to happen soon.

BTW ... the national debt is now 100% unsustainable. The interest will now be so burdensome that we will keep falling further into the abyss.