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WookieMan says
Yet to meet a millionaire that didn't use debt to make their wealth.
Personal debt and investment debt are two different things. Borrowing to buy rental property or company equipment is not the same as borrowing to buy that 'vette.
I'm a guy who didn't use debt to achieve wealth.
I'm a weirdo to my friends however.
What do you do to stay productive and live a fulfilling life?
I like my financial independence. I don't need more money or care to work for more money. Life is short. I don't want to spend all my time adding digits to a banks account working like a dog.
We are going to see Realtors and Banks grovelling before the Fed very soon.
What do you do to stay productive and live a fulfilling life?
What do you do to stay productive and live a fulfilling life?
"My favorite Central Banker was Paul Volcker. He was not worried about nailing the soft landing. He put us into a terrible recession and we got 20 years of prosperity because of the pain we took for 18 months. And I’d like to remind those who think this has been in their political interests, Reagan won 49 states in 1984 after the economy was absolutely in the tank in 1982 because he did the right thing."
However, household wages and/or income for the demographic that would buy this townhome has gone up about 25% since February 2020.
And that's in a vacuum without considering the cost of groceries, gas, and other non-delayable, immediate regular expenses.
Nah, it wasn't me
porkchopXpress says
What do you do to stay productive and live a fulfilling life?
Hey porkchopXpress I was watching my usual Sunday night, "Viva and Barnes", and I saw a guy named porkchopexpre55 post a question in the super chat. Was that you?!
However, household wages and/or income for the demographic that would buy this townhome has gone up about 25% since February 2020.
And that's in a vacuum without considering the cost of groceries, gas, and other non-delayable, immediate regular expenses competing for the household's budget.
And that's in a vacuum without considering the cost of groceries, gas, and other non-delayable, immediate regular expenses competing for the household's budget.
AmericanKulak says
And that's in a vacuum without considering the cost of groceries, gas, and other non-delayable, immediate regular expenses competing for the household's budget.
Lot of it to do with "keeping up with Joneses" .. The pressure especially from women/children is forcing the families to live on financial edge.
Responsible men are worse off in this society as they shoulder most responsibility but little say and still get blamed as cheapstakes.
If people live 1990s lifestyles they will live much better.
if people lived a 1980s lifestyle
Not possible with $420k homes and $75k incomes at 7%.
Hell, if people lived a 1980s lifestyle and were debt averse they would be much better off. Don’t live beyond your means, invest for retirement, and pay your house off 15 years of less so you’re spending less on interest.
ForcedTQ says
Hell, if people lived a 1980s lifestyle and were debt averse they would be much better off. Don’t live beyond your means, invest for retirement, and pay your house off 15 years of less so you’re spending less on interest.
Most of the world outside our country follows this philosophy today, I reckon.
In 1980s there were mostly single earners and the womyn cooked at home from scratch = no daycare and no inflated food costs to Uber over some shit sandwiches to their place. That alone freed up most of the cash to buy a home they don't have today,
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.