Home › Forums › Financial Markets/Economics › Are savers doomed?
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January 8, 2015 at 5:48 PM #781749January 8, 2015 at 5:51 PM #781750spdrunParticipant
You can do that anyway with leveraged property. If you bought in SD in 2009 or 2010, shouldn’t you already have quite a bit of equity?
January 8, 2015 at 5:52 PM #781751anParticipant[quote=spdrun]You can do that anyway with leveraged property.[/quote]Yeah, but it would take you 30 years to pay off that loan. I want to be able to pay it off in 5. See the difference?
[quote=spdrun]If you bought in SD in 2009 or 2010, shouldn’t you already have quite a bit of equity?[/quote]I don’t care about equity, I want no more debt.January 8, 2015 at 5:58 PM #781752spdrunParticipantGot it. Regardless, I wish you no luck whatsoever.
January 8, 2015 at 5:59 PM #781753anParticipant[quote=spdrun]True. But I don’t feel a shred of empathy for you and I personally hope that your grand plan fails.[/quote]I’m not asking for your empathy. I don’t want it even if you give it. I was stating what I want. As we all know, in life, you don’t always get what you want. I’ll be just fine if I don’t get what I want.
BTW, what grand plan are you talking about? You mean the grand plan of owning rentals and making $ cash-on-cash? So you’re hoping for yourself to fail too? I didn’t know you’re a masochist.
January 8, 2015 at 6:02 PM #781754The-ShovelerParticipantSure anything CAN happen,
But the most LIKELY thing to happen is a repeat of the 1980’s IMO.
The biggest Bulge in population just turned 23, and a large percentage just got out of college.
pretty much where we were in early 1980’s.
USA is for all intents and purposes is much much better off than we were in 1980’s as well.Also for all intents and purposes the USA is energy independent for the first time in 50 or more years LOL.
Sorry your way off.
January 8, 2015 at 6:06 PM #781755spdrunParticipantAN: Difference is, I’m not done buying. So a good crash would give me an opportunity to buy more property, cheaper.
Shoveler: Well, nice thing about the 80s was the S&L crisis in the late 80s. Here’s hoping for a repeat of something like THAT!
BTW- we’re not energy-independent as far as oil, not at present anyway. And a low oil price will delay that for a long time, making us dependent on world market prices.
January 8, 2015 at 6:09 PM #781756anParticipant[quote=spdrun]AN: Difference is, I’m not done buying. So a good crash would give me an opportunity to buy more property, cheaper. With any luck, maybe I’ll even see a few of yours at the sheriff’s auction![/quote]What are you talking about? Who said I’m ever done. I just said I got what I needed. If we see another big crash, I’ll be buying more. Which mean you won’t be seeing any of mine at the sheriff’s auction. But unlike you, I don’t need to buy more. I got enough.
January 8, 2015 at 6:20 PM #781757spdrunParticipantDepends if you keep your job, if tenants stay, etc 🙂 Unless you’re pulling in enough to not work already, which means this whole discussion is moot because you can retire with or without debt (debt service is just another expense). In which case, why are you tempting fate by wishing for inflation that might help or harm you?
Hint: not all goods, commodities, and market inflate at the same rate.
January 8, 2015 at 6:42 PM #781758anParticipantSame reason you’re hoping for a 2008 repeat.
January 8, 2015 at 8:52 PM #781759flyerParticipantJust as I would have liked to have entered the real estate investment market in CA at the turn of the last century, as many of my family members did, I talk to lots of people who wish they had done so 20+ years ago when I did, but were too young, and/or unable to get involved at that point in time, so now, they are doing the best they can with the cards they have been dealt.
Like many of you folks–based upon the time they entered the market–they are doing just fine in that quest. Will it ever be as lucrative as it was for those who got in earlier, and were easily able to retire quite young if they chose to? I definitely think it’s possible, but only time will tell, since, IMO, there are far too many variables in the world to consider it a slam dunk.
January 8, 2015 at 8:53 PM #781760FlyerInHiGuest[quote=AN] What’s in it for me? One simple word: inflation. I’m hoping for a repeat of 70s/early 80s, when wages were inflating like crazy. Look at what happen to rent and housing price then and you’ll understand why I want $15/hr. Better yet, lets go straight to $25/hr.
I got what I needed. Now, lets inflate away my debt.[/quote]
Certain people said that stimulus spending and Fed printing would cause inflation, even though it hasn’t.
So I assume you want a lot more stimulus spending and Fed printing, until we get the inflation you want.
January 8, 2015 at 8:58 PM #781761anParticipant[quote=FlyerInHi]Certain people said that stimulus spending and Fed printing would cause inflation, even though it hasn’t.
So I assume you want a lot more stimulus spending and Fed printing, until we get the inflation you want.[/quote]I don’t know or care how we get inflation, I just hope that we do. Key word here is hope. I don’t plan on hope. However, it doesn’t hurt to hope. Just like I hope that one day, when I decide to pay the lottery, I’ll pick the correct 6 numbers.
I don’t mind another crash either.
January 8, 2015 at 9:11 PM #781762scaredyclassicParticipantI’ve given all hope for anything particular to happen in the world.
January 8, 2015 at 9:30 PM #781763anParticipantI refuse to live in a hopeless world.
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