Spooooooky!!! Anyone else feel like we're in eerily similar times today as we were in 2007-2008. Only top 20% have more savings than pre Covid

[dtownreppin214]

I do...but I'm also hilariously more financially able to weather this storm than 08...so I don't feel anywhere near as much angst...

Actually...I'm kind of looking forward to some property I might be able to get my hands on...courtesy of some people around me having to learn the hard way that they are not in fact...middle class...

I'm trying to flip my house early next year. I wish I did it spring '18. DFW market starting to snow a bit.

 

[Meta Reign]

No recession will be happening. . . BUT the Fed is definitely proving just how politicized they are. They would never be doing this under HRC as president for a fact. Apple doesn't like Trump, Google doesn't like Trump. . . But I bet that when I say the Fed and their respective banks hate Trump, everyone will say I'm crazy. The banks don't care if the American people have to suffer short term pain to send a political message.

 

[GnauzBookOfRhymes]

No. Banks are well capitalized, Fed has created sufficient room to cut rates as stimulus if necessary and the US economy is largely insulated from foreign economic triggers causing a more than mild recession here.

Whether I'd have risk on right now in the market is an entirely different question...

I think there’s a danger in assuming the next recesssion will be exactly like the last one. It’s like whack a mole.

They cut rates like crazy and gave the banks free money to play with but they didn’t turn around and increase loans to small businesses etc bc fundamentally they weren’t confident they would be repaid.

The next recession will be based on the realization that most Americans are not just flat broke but completely drowning in debt that they will never be able to climb out of. The trillions in school debt that will never be repaid. The trillions in consumer debt. The trillions in unfunded pension obligations. The trillions that we will continue to dump into an inefficient health care system. Job losses due to automation. Meanwhile those with assets/capital will continue to hoard until the system demands a correction.

 

[Meta Reign]

I think there’s a danger in assuming the next recesssion will be exactly like the last one. It’s like whack a mole.

They cut rates like crazy and gave the banks free money to play with but they didn’t turn around and increase loans to small businesses etc bc fundamentally they weren’t confident they would be repaid.

The next recession will be based on the realization that most Americans are not just flat broke but completely drowning in debt that they will never be able to climb out of. The trillions in school debt that will never be repaid. The trillions in consumer debt. The trillions in unfunded pension obligations. The trillions that we will continue to dump into an inefficient health care system. Job losses due to automation. Meanwhile those with assets/capital will continue to hoard until the system demands a correction.

You're right, but that's going to take at least a decade to fully be realized. . . There isn't the underlying game of securitized bad mortgage debt being sold to internationally rich investors this time around. There's def a sort of housing bubble right now, but it isn't as systemically threatening right now. Wall street knows they can't get away with shyt right now. That too big to fail crap won't work as well under Trump. Not saying he's sort sort of hard ass on Wall street, but if there's anyone petty enough to stick it to banks who he thinks may not like him, it's him.

No recession. In fact, stock losses are opportunities to buy.

 

[GnauzBookOfRhymes]

I'm trying to flip my house early next year. I wish I did it spring '18. DFW market starting to snow a bit.

Breh I flipped a cpl properties this year and it has definitely slowed a bit in Chicago. Even in the very ritzy neighborhoods. Going to be a buyers market next year.

I tell people if you’re interested in real estate rental property is the way to go. The rental market will be very strong FOREVER. We will NEVER build enough housing (mostly bc we will always be spooked about the 08 crash) to meet the demand. Also many millennials and Gen Y have decided they will never buy a home. It can be a pain in the ass but honestly if you do it correctly it can be a nice cushion and a way to offset income taxes.

 

[Futuristic Eskimo]

I think there’s a danger in assuming the next recesssion will be exactly like the last one. It’s like whack a mole.

They cut rates like crazy and gave the banks free money to play with but they didn’t turn around and increase loans to small businesses etc bc fundamentally they weren’t confident they would be repaid.

The next recession will be based on the realization that most Americans are not just flat broke but completely drowning in debt that they will never be able to climb out of. The trillions in school debt that will never be repaid. The trillions in consumer debt. The trillions in unfunded pension obligations. The trillions that we will continue to dump into an inefficient health care system. Job losses due to automation. Meanwhile those with assets/capital will continue to hoard until the system demands a correction.

Hard to make a point that I am assuming the next recession will be anything like the previous one when my first post in a thread titled "Anyone else feel like we're in eerily similar times today as we were in 2007-Early 2008?" is "No"

Seems to me that a lot of educated people without sufficient understanding of markets have made it a habit in the last decade to predict when the next huge crash will be along with a mixed bag of causes that are always thrown around. While your points are valid and are problems, the next recession will most likely be real rates rising a bit higher and the credit cycle reaching its natural end following an undetermined amount of additional Fed hikes, or a credit collapse in China (unlikely in the short term).

 

[duckbutta]

I'm trying to flip my house early next year. I wish I did it spring '18. DFW market starting to snow a bit.

No doubt it has slowed but it is still pretty easily the best housing market in the US if you are a seller...from 15 to 17 it was arguably the greatest sellers market in us history...supply is s tarting to catch up with demand now...but you should still make out pretty good...

I would DEFINITELY make flipping your house a priority...I would also take that money and look to invest in some land or property in Denton...if you can take that money and buy a house around TWU or UNT area...do it...even if the price seems high I would do it...both those colleges are growing at a record rate...but university housing demand can't keep up...get something within 10 miles of those areas and you might as well pull out the progressive name your price tool when it comes to what you charge for rent...

If you look at some of the real estate sites and the pricing on some 1500 - 18000 square foot homes in Denton shyt is

Just don't start looking at property TO FAR down 35...cause that is the stuff I'm working on and I don' share

 

[hashmander]

No recession will be happening. . . BUT the Fed is definitely proving just how politicized they are. They would never be doing this under HRC as president for a fact. Apple doesn't like Trump, Google doesn't like Trump. . . But I bet that when I say the Fed and their respective banks hate Trump, everyone will say I'm crazy. The banks don't care if the American people have to suffer short term pain to send a political message.

HRC would never have appointed Jerome Powell you dipshyt so of course they would never be doing this (whatever this is to you). you hear trump crying about the fed today and come here talking about "see my man said it's the fed's fault, so it must be politics." Jerome is his guy. stick to posting about pedo signs at antifa marches.

 

[Meta Reign]

HRC would never have appointed Jerome Powell you dipshyt so of course they would never be doing this (whatever this is to you). you hear trump crying about the fed today and come here talking about "see my man said it's the fed's fault, so it must be politics." Jerome is his guy. stick to posting about pedo signs at antifa marches.

On God I've been saying since the first rate hike of this year at least that the Fed was playing politics with monetary policy because they hate Trump. Probably never voiced it in HL (maybe I have). Admittedly, Trump voicing his opinion on it today, def gave me some vindication I feel.

Secondly, if you think HRC's appointment of ANYONE would be the reason to keep rates low, you're an idiot. HRC would have been so friendly to Wall street they wouldn't have dared to touch rates, nut as under Obama.

 

[North of Death]

Breh I flipped a cpl properties this year and it has definitely slowed a bit in Chicago. Even in the very ritzy neighborhoods. Going to be a buyers market next year.

I tell people if you’re interested in real estate rental property is the way to go. The rental market will be very strong FOREVER. We will NEVER build enough housing (mostly bc we will always be spooked about the 08 crash) to meet the demand. Also many millennials and Gen Y have decided they will never buy a home. It can be a pain in the ass but honestly if you do it correctly it can be a nice cushion and a way to offset income taxes.

Im on that wave bruh, looking to cop my 4th unit next year when fukkers panic and dip low on the asking price..My main concern is interest rates though

 

[Futuristic Eskimo]

No recession will be happening. . . BUT the Fed is definitely proving just how politicized they are. They would never be doing this under HRC as president for a fact. Apple doesn't like Trump, Google doesn't like Trump. . . But I bet that when I say the Fed and their respective banks hate Trump, everyone will say I'm crazy. The banks don't care if the American people have to suffer short term pain to send a political message.

You don't know anything about what you're commenting on. The Fed's mandate is to control prices. When you pass massive, unnecessary fiscal stimulus into a strong economy already in late stage expansion, they are going to raise rates to stop inflation. Pick up an Econ 101 book.

 

[Meta Reign]

You don't know anything about what you're commenting on. The Fed's mandate is to control prices. When you pass massive, unnecessary fiscal stimulus into a strong economy already in late stage expansion, they are going to raise rates to stop inflation. Pick up an Econ 101 book.

I understand all of that. . . None of that contradicts or even combats anything I have said. Also, the Fed's mandate is to control the price of money as well. To say that it is currently -- at least for the past year -- politcizing said mandate isn't crazy to conclude imo.

 

[hashmander]

On God I've been saying since the first rate hike of this year at least that the Fed was playing politics with monetary policy because they hate Trump. Probably never voiced it in HL (maybe I have). Admittedly, Trump voicing his opinion on it today, def gave me some vindication I feel.

Secondly, if you think HRC's appointment of ANYONE would be the reason to keep rates low, you're an idiot. HRC would have been so friendly to Wall street they wouldn't have dared to touch rates, nut as under Obama.

what are you talking about? you and trump brought up the fed playing politics. well trump got rid of yellen and replaced her with his hand picked conservative chairman, jerome powell. and now you're over here bytching about his political motives to fukk with trump. jesus fukkin christ you all are a special bunch.

 

[Futuristic Eskimo]

I understand all of that. . . None of that contradicts or even combats anything I have said. Also, the Fed's mandate is to control the price of money as well. To say that it is currently -- at least for the past year -- politcizing said mandate isn't crazy to conclude imo.

It can't be both rational monetary policy and a political conspiracy at the same time. If you understand what I wrote, you would see that.

I'll leave you to posting paraphrased rebuttals from zerohedge or the mises institute, though

 

[Meta Reign]

It can't be both rational monetary policy and a political conspiracy at the same time.

It could very well be.

what are you talking about? you and trump brought up the fed playing politics. well trump got rid of yellen and replaced her with his hand picked conservative chairman, jerome powell. and now you're over here bytching about his political motives to fukk with trump. jesus fukkin christ you all are a special bunch.

No, I'm not. In fact, I'm saying that irregardless of who is the Fed chair the Fed would be raising rates under Trump. . . The problem here is that you all really believe the Fed chair matters. . . The Fed chair is a puppet, Trump may too dumb to know that. . . The primary dealer banks and their banking family shareholders run things at the Fed. . . Always have. Call me whatever conspiracy nut, blah, blah you want.