Drunkle, thank you. This is the type of exchange I was hoping for. While not a J6P I am hard pressed to see the potential silver linings and bright future when I am looking at some of the same current day situations you mentioned (home prices, credit, jobs, consumer confid, etc).
When it comes down to it, I am a little fish that is smart enough to know a storm is brewing. I just don’t know how bad or how safe my position really is.
By little fish, I mean I am not an active investor. I have $100K in a 401K (employee program) and it is managed by a firm (Principal). No real choice, just shares of their canned portfolios. I have a house bought in ’98 for $250K on a 6.5% 30yr fixed in a nice part of town that allows me salty sea breezes and nightly sea world fireworks. East of I5 but only by a few blocks. A $100K second on a variable spend on some fixups and a couple frivolous vacations.
So I sit here and wonder just how bad it will be and which demographic will get stung the hardest.
