Money & Economics

bigredfish said:
You want local isolated stories?

I sold my place in fall of 2022, 3 years ago, at the top. Not a single house on the street has come closer than $50K from my selling price, and I sold in 4 days (over a weekend) and still had people calling in bids from NY days later. Probably left $30-$50K on the table.

I was down there last week, 4 houses for sale, all have been sitting 60-90 days and dropping price by $10-15K every couple of weeks now.

It very much depends on where you are
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LOL, no I can get my local stories here ;)

Once again my post is not against you nor what you post. Just commenting on what I see myself, hope that is still ok to do here :)
Every year I have seen articles/news that the housing industry will explode, like 2008. Time will tell, we may see another 2008 in our lifetime, who knows. So far our property value is still going up, which being paid off only make us pay more taxes :(

When we were selling our old home we went through, well was eyeing the lawsuit against the NAR, the multi-million $ settlement happened in the middle of our listing. We were hoping it would some how allow us to not have to pay as much to the Buyers Realtor, but the timing didn't work out for us, we still had to pay 6%, our Realtor got her 3% and the Buyers 3%, which in my opinion is too much...now adays Realtors don't work as much as they use to prior to listing now being nationwide on the Internet, or should I say they work differently I guess.

But what do I know, nor do I care much anymore, home ownership isn't cool anymore, if you ask a young person...

We are watching "Justified" where family names meant something and is worth protecting, young people now don't care, they only see the money of the sale of their inheritance not realizing land is solid, money burns...family names mean nothing to them. Out here a family name is proudly welding on entrance gates...this is changing...
 
bigredfish said:
It very much depends on where you are
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Yes. The sad thing is that the liberals with apparently too much money are leaving the big cities they helped turn into hellholes, going to the smaller places, running up the prices, and continuing their mission to create hellholes. My county was solid red until a few years ago, now heavy blue.
 
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tigerwillow1 said:
Yes. The sad thing is that the liberals with apparently too much money are leaving the big cities they helped turn into hellholes, going to the smaller places, running up the prices, and continuing their mission to create hellholes. My county was solid red until a few years ago, now heavy blue.
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Met a guy from the city that moved here complaining about coons and hogs. He said hogs knocked down his feeder, lol I asked him why he is feeding deer, they are not starving...he looked at me puzzled, he did not realize that he is also feeding the coons and hogs with what the deer drop from his feeder. It was a good laugh for me...oh he did say he voted for Trump but is a Democrat, lol
 
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tigerwillow1 said:
Yes. The sad thing is that the liberals with apparently too much money are leaving the big cities they helped turn into hellholes, going to the smaller places, running up the prices, and continuing their mission to create hellholes. My county was solid red until a few years ago, now heavy blue.
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Yeah, these Karens (Libs) like to voice/spew their garbage in POAs/HOAs, town meetings and local Politics.
 
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Best financial advise you will ever get in your life:



Living Debt Free, other than taxes, is one of the best feelings in the world....to actually own something instead of the banks/mortgage companies owning you...need I say more...
 
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^^^ lol

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Funny, just got this today...
 
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bigredfish said:
Yeah those are hilarious.

Mine goes back n forth 25 points every month with no change in spending, debt, or charges.

Pretty sure they throw a dart at a board
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Don't get me wrong, as Dave Ramsey states, you can't get into an Apt. without a good credit score. I miss the days before credit scores where the Creditor decided...instead of a Dart, lol

We still have locks on all three of the Credit Bureaus. We had to unlock them when we opened a new account at a new bank a few years back. We don't borrow anymore so keeping them locked is a good thing for us, plus it is free...

I remember locking both of my parents when they passed, trying to stop the crooks preying on the deceased, great world we live in...this was recommended by the Funeral Director...also had us send the death certificates to all 3 Bureaus...
 
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Yep same on all counts
 
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From my son-in-law:

Gold just hit an all time high! Lots of talk about Trump re-valuing the gold held by the US. Currently, the gold held in the Treasury is valued at $42 per ounce, which was the value in 1973!
Even at that price, the US holds $11 Billion in gold. If Trump revalues to $3500 an ounce, we would have $917 Billion in gold!!!
That would help wipe out the debt and would cause another surge in gold prices!
 
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Hope he does.

Wont put a dent in the $37 Trillion debt we already have, while continuing to spend $2 Trillion more than we take in every year. Which I guarantee will go UP!
 
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Going to try and buy some #GLD today in a stagnant Roth I have sitting
 
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bigredfish said:
But, but, I thought Rates were the problem?

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Lol did not Trump make all the parts and pieces you need to make a house more expensive ? .. iirc lumber from Canada got major tariffs
 
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David L said:
Best financial advise you will ever get in your life:



Living Debt Free, other than taxes, is one of the best feelings in the world....to actually own something instead of the banks/mortgage companies owning you...need I say more...
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From what I can tell he didn't get the first part right. I don't pay attention to my FICO score. Not sure how I got it. It's north of 800 and I haven't paid $100K in interest in fact I've probably paid a lot less than a lot of people who scores are in the 600s. The only money I ever borrowed was for student loan, tractor and home mortgage. Student loan was paid off fairly quickly, the tractor money was borrowed because it had 0 interest for 3 years so I used John Deere's money for free and invested my money. The home mortgage was paid off in 8 years. It was only around a $110K and was paid back by doubling the payments then writing a check after I got tired of sending in money every month. I use CC for everything but pay it off every month so I actually get paid 2-5% to use their money. From what I can tell the FICO score is a result of me paying off my obligations on time mixed in with the credit line I have versus what amount of it I use then pay off every month plus a history of paying off larger loans? Probably could drive my FICO higher by getting rid of CCs I have but never use. Like I said, I'm aware of my score but never took the time to figure it out how/why it is what it is. Who am I to argue with Dave Ramesy but I'm sure he's just generalizing.
 
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Sybertiger said:
Probably could drive my FICO higher by getting rid of CCs I have but never use.
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No... one of the highest impacts on your credit score is credit card utilization... suppose you charge $2K a month on cc's and have total cc limit of $40K... then your cc utilization is 5%... if you close half your accounts because you don't need them, your cc utilization will go up to 10% and your credit score would go down a bit.

Also, a medium impact item is credit age... so if you do close cards, it's best to close the ones you acquired most recently.

Or from google:

"Lowering your credit utilization ratio. This is the percentage of your total available credit that you use. With more cards, you have a higher total credit limit. If your spending stays the same, your utilization rate will decrease, which can improve your score. Ideally, you want to keep this ratio below 30%, and less than 10% for an excellent score."

"Building a longer credit history. Keeping your oldest credit lines open and active increases your average account age, a factor that influences your score."

It's really splitting hairs because for the most part your credit score doesn't matter much if you are financially secure.


EDIT: "Who am I to argue with Dave Ramesy but I'm sure he's just generalizing."... I disagree with lots of his opinions... feels like he has some hidden agenda :)
 
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bigredfish said:
Going to try and buy some #GLD today in a stagnant Roth I have sitting
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My son-in-law said the $100 gold coins sold out quick, may be some $50 left...
 
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