Low interest rates are currently limping us along. My job is a good economic indicator. I handle septic permits for my county. The last 18 months have been absolute insanity. Back in august when building material prices doubled and tripled in cost, me and everyone at the building department thought for sure it would end the boom and the economy would start to tank. It never did, even as new home prices should have deterred anyone with a brain from carrying on with their project. We finally realized that with super low interest rates, people could absorb the cost of a much higher loan amount. So if someone wanted to build, the high cost of the home with a low interest rate didn’t phase them. It’s only a matter of time, and we I’ll be back to 2008. All the homes being built right now in my area for $500,000 that would have cost $250,000 back in July, will be worth about $250,000 or less when the market crashes. Anyone who loses their job or income won’t be able to sell because their house is half the value they paid for it and the only option is to default on the loan. This goes for existing homes as well, the prices are super inflated right now. Even my shithole house that’s completely gutted to the studs is worth $100,000 right now and it appraised for $15,000 just 5 years ago. It’s all gonna come down fast and hard once the interest rates go up.
Literally just started a 401k because my company offered to match it. I suspect Biden will crash my state's economy by banning oil production around 2025-30 and ICE cars around 2030-35. Would that wipe out 401k?
Put your money in the money market or bond funds in your 401k. Stay away from the Equity funds especially the S&P index funds, that's my two cents. Take advantage of the employer match.
This. At least get out of equity until we see what direction this is all headed, even though I believe its going down under our dumbass fake president.
Yellen mostly doesnt like Bitcoin because there is no company behind it and theyve said it was used to fund terrorism and other illegal activities.
Crypto is worldwide and is about to pop off.
Isn't it likely that the economy will have a boom as covid restrictions eventually ease up and markets open back up? It won't have anything to do with Biden but he'll take credit and it will be played up massively for optics.
i love your optimism. But hamstringing the energy industry is gonna have a ripple effect. Plus Obama was the king of regulations. Trump erased a lot of that to help businesses. You can bet Biden will start it up again.
Investment guy wanted to take me out of my mutual fund and over into something else late last summer. Told him, I'm not even discussing changing a THING until after the election. Sure as shit wasn't going into something more volatile. Glad I held firm.
Low interest rates are currently limping us along. My job is a good economic indicator. I handle septic permits for my county. The last 18 months have been absolute insanity. Back in august when building material prices doubled and tripled in cost, me and everyone at the building department thought for sure it would end the boom and the economy would start to tank. It never did, even as new home prices should have deterred anyone with a brain from carrying on with their project. We finally realized that with super low interest rates, people could absorb the cost of a much higher loan amount. So if someone wanted to build, the high cost of the home with a low interest rate didn’t phase them. It’s only a matter of time, and we I’ll be back to 2008. All the homes being built right now in my area for $500,000 that would have cost $250,000 back in July, will be worth about $250,000 or less when the market crashes. Anyone who loses their job or income won’t be able to sell because their house is half the value they paid for it and the only option is to default on the loan. This goes for existing homes as well, the prices are super inflated right now. Even my shithole house that’s completely gutted to the studs is worth $100,000 right now and it appraised for $15,000 just 5 years ago. It’s all gonna come down fast and hard once the interest rates go up.
Went to 100% cash last week, except for my physical gold and silver.
Yeah I went into some gold too. Lots in cash. Just being safe, but its not looking good.
I’ve transferred to safe harbor funds. It’s been a good run, I’ll take it.
Literally just started a 401k because my company offered to match it. I suspect Biden will crash my state's economy by banning oil production around 2025-30 and ICE cars around 2030-35. Would that wipe out 401k?
Put your money in the money market or bond funds in your 401k. Stay away from the Equity funds especially the S&P index funds, that's my two cents. Take advantage of the employer match.
This. At least get out of equity until we see what direction this is all headed, even though I believe its going down under our dumbass fake president.
Depends what your 401k is invested in
https://wallstreetonparade.com/2021/01/ten-months-after-stepping-down-as-fed-chair-janet-yellen-became-part-of-the-leadership-team-for-forums-tied-to-the-chinese-communist-party/
Cryptocurrency is gonna pop off. Dont miss the boat before the all the democrats get on first.
Yellen wants to outlaw cryptos. She can't, but she can screw the exchanges.
Yellen mostly doesnt like Bitcoin because there is no company behind it and theyve said it was used to fund terrorism and other illegal activities.
Crypto is worldwide and is about to pop off.
I'm a believer too, but if she starts cracking down on the exchanges, with the help of congress and Biden, it will be tough.
Use a vpn to get to exchanges outside u.s.
Isn't it likely that the economy will have a boom as covid restrictions eventually ease up and markets open back up? It won't have anything to do with Biden but he'll take credit and it will be played up massively for optics.
i love your optimism. But hamstringing the energy industry is gonna have a ripple effect. Plus Obama was the king of regulations. Trump erased a lot of that to help businesses. You can bet Biden will start it up again.
Investment guy wanted to take me out of my mutual fund and over into something else late last summer. Told him, I'm not even discussing changing a THING until after the election. Sure as shit wasn't going into something more volatile. Glad I held firm.
Yep its gonna happen, honestly I see no possible way he doesnt