Possible 32% unemployment and 47 million could be out of work- The Fed

[null]

You'd be a fool, unless you don't outright own it. In times like these owning a house and land will always trump imaginary numbers

That depends on how safe your job is and whether we will see deflation or inflation .

 

[AAKing23]

Yal really think the real estate market bout to crash?

I hope so, we need a reset

 

[Ezekiel 25:17]

That depends on how safe your job is and whether we will see deflation or inflation .

If your house is paid off the only thing you gotta worry about is property taxes once a year + utilities. That's basically $600/month to keep a roof over your head. Any basic highschool job can cover that if you lose your main job

The people paying rent or mortgages are the ones in danger

 

[null]

If your house is paid off the only thing you gotta worry about is property taxes once a year + utilities. That's basically $600/month to keep a roof over your head

I thought you were talking of relative value.

In a deflationary scenario the money you earn / have becomes increasingly valuable and that house / assets becomes increasingly less so.

(the opposite of what we have seen since 2008).

People with steady reliable income / cash in the great depression lived like kings.

 

[Robo Squirrel]

Jesus, that's scary, only positive I can see from this is real estate crashing and rent prices going down to what they're really worth.

I hope.

 

[Piff Perkins]

us vs china

Never happening, there is no incentive for nuclear powers to engage in direct war. I do think this could shift supply chains from China elsewhere, which would shake up the global power structure. Given how China handled this situation, and the possibility of it happening again due to wet markets...I wouldn't be stunned to see America attempt to move more supply chain production to India and Mexico.

Not long ago it would have been inconceivable that London would one day no longer be the financial hub of Europe. Well it happened (Brexit). We could be in store for more shocks in terms of China's global role.

 

[Ezekiel 25:17]

I thought you were talking of relative value.

In a deflationary scenario the money you earn / have becomes increasingly valuable and that house / assets becomes increasingly less so.

(the opposite of what we have seen since 2008).

People with steady reliable income / cash in the great depression lived like kings.

A house can only decrease in value in part to the surrounding area. If your area becomes high crime, then yeah it's best to sell. But I don't think that happens in most economic scenarios

Anybody who owns their house right now is in good standing even if they lose their job.

 

[Uitomy]

Should I wait to cop a house

Definitely, prices will fall, give it a year, gonna be alot of agents desperate to land a sale.

 

[Thethirdpew]

Jesus, that's scary, only positive I can see from this is real estate crashing and rent prices going down to what they're really worth.

Breh what stocks did people short during the housing crisis of 2008 . I remember watching "the big short" and wanting to make a come up like that off a housing crash.

 

[Astroslik]

What happened to law school? I guess they locking down firms and summer internships (No shots, serious question)

No they’re didn’t.

 

[BaileyPark31]

Finna get a truck at a lovely price if things continue to slide downhill


THe market will continue to slide I was reading on seeking alpha this morning depsite what JP Morgan and the rest are saying, so we can get in on these rock bottom prices

Hmm,

Imma wait n see if the Traverse comes down to under 30

 

[Uitomy]

Breh what stocks did people short during the housing crisis of 2008 . I remember watching "the big short" and wanting to make a come up like that off a housing crash.

I wish I could tell you that but I was like 13 at the time

But from what I did see tho, pretty much every business that was fairly new or had a recent ipo back around that time, that became a staple buisness today, had some very consistent gains that I do feel will recover now



But I'm pretty sure pharma and precious metals stocks were hitting on the shorts cause they still are now.



Ironically it also seems like most people who shorted btc at those times too all wish they went long lmao.

 

[QuintessentialMan]

I must admit I feel bad but I'm also excited.

Can you spend your way out if this? Well I see yourre going to try..... but a 2nd wave of Covid is just in the cut waiting to hit in the fall and this first wave is just getting started.

You can't go to war with Iran, people wont stand for that so soon after Iraq and Afghanistan. Plus Russia and China can easily step in and stalemate that.

You can't honestly think you can manufacture anything more IN America and stay competitive. Dont even bother.

I think a slow death over 20 years is in order for you Uncle Sam. Dont fight it. This entitled generation gonna learn one way or another.

 

[Payday23]

My apologies if this is off topic.

You think so, breh? I've been interested in buying a 4Runner or a Durango. I got two perfectly good vehicles now, but I'd want a three row vehicle because of my third child on the way. I've been holding off because I really do not want a high ass car note. 730 credit score, and my career is "essential".

Is that how it usually works? Say the economy tanks, and no one is going to dealerships to buy new vehicles. Would they really drop a sticker price/MSRP of $45k down to $35k or less? I never bought a brand new vehicle from a dealership, that's why I'm asking. If that's the case, I'm going to hold off until the market drops a bit more.

Banks may not be willing to loan if the economy tanks

 

[zayk35]

Ppl still going to be sick and in need of testing equipment, Reagents, Conjugates, Negatives, Low positives and High positives etc.....which is exactly what my company manufacturers. As a Booming market leading biotech company I'd like to think we're good. We didn't ramp down production during this time we ramped up and added a 2nd shift which I oversee with employees of my choosing and we've been kicking ass.