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So. How’s the recession treating Everyone?

I’m sympathetic towards acquaintances who bought homes in the past year for unrealistic prices.

They chewing threw savings like wild fire and reaching out to everyone they can for help 👀

I’m curious how many others are actually fuqed like they are?
Budwick · 70-79, M
acquaintances who bought homes in the past year for unrealistic prices.

I suppose they got the expensive home at low interest rate - so that's good.

We're paying more for everything. So, we try buying less than we used to.
Every trip to the grocery store means a new story of complaint of how much stuff costs, and the amount you get for the inflated price is less.

I worry that either the Biden regime doesn't understand economics so they keep spending money. Or worse, that they DO understand economics and keep spending money.

I don't know what they have up their sleeves, but it's all contrary to a leadership that cares about it's citizens.
Budwick · 70-79, M
@JimboSaturn The inflation in OUR our country is principally due to our leadership.
JimboSaturn · 51-55, M
@Budwick Poor Budwick no the sharpest knife in the drawer.
Budwick · 70-79, M
@JimboSaturn
Poor Budwick no the sharpest knife in the drawer.

MAybe not - but I AM IN the drawer!
Torsten · 36-40, M
I was kicked out of my rental end of last year due to a couple buying the place. They lied bout me staying and out of no where evicted me and my son.
I hear they are bankrupt now after trying to renovate the place and getting no where with it.

so due to almost making me and my son homeless, I couldn't be happier for them.

Others who bought a house during this time and doing it really rough, have my sympathies
chrisCA · M
I am doing fine.
I still have a job, I live modestly.
My net worth increases, except when equities are up, and down.
DeluxedEdition · 26-30, F
Personally by the grace of god I’ve been fine it’s been hard because I’ve been living paycheck to paycheck with a little money left over. Some people don’t even have that. I’m so grateful. My work has been pretty consistent. I cannot complain

I see others struggling who rushed to buy a home when the market was bad though :(
Graylight · 51-55, F
Rule: Don't buy a home for an unrealistic price.

This is how life works. Unanticipated expenses, unforeseen emergencies and prices rising no matter what under any president. Sorry if the truth of it stings.
JimboSaturn · 51-55, M
I am very luck since I paid off my house before interest rates shot up. Our jobs were not affected by covid, so I count myself lucky.
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JimboSaturn · 51-55, M
@swirlie I would have to agree. Housing prices were in a bubble in my opinion when a shitty war era townhouse can sell for $1.3M in my neighbourhood. Imagine a huge interest rate hike carrying that kind of mortgage? Brutal.
Carla · 61-69, F
The people that bought those houses weren't thinking clearly.
Someone will be buying these homes in foreclosure.
DeluxedEdition · 26-30, F
@Carla with all due respect yes. I had so many friends rushing to buy houses during the shit economy who very easily could have waited

There’s a lot of people though who couldn’t wait who didn’t have a choice
SW-User
It's causing a lot of uncertainty for me and the cost of everything going up isn't awesome
Hanging in there, inflation hasn't had too much of an affect on me, at least not yet.
could be better, could be worse
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eli1601 · 70-79, M
Here in AZ I haven't seen any sign that the housing boom has slowed down. The first indicator would be a large increase in the number of spec homes on the market. At least until and unless people start getting laid off.
JimboSaturn · 51-55, M
@eli1601 Housing prices have decreased 25% over last month where I live; I presume because of inflation and interest rates.
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SW-User
Thanks for rubbing it in 😐
My wages cover the utilities now. Im glad there's no mortgage left to pay
SW-User
I’m aware of what it’s done/ still doing to some folks … I count my blessings everyday.

It doesn’t mean I’ve never gone through hard times, quite the opposite… it made me more determined to avoid that pitfall

Again, I like to give in anyway I can because I know what it feels like to go without.
MethDozer · M
I'm making due. Doing fine actually other than the realization I will continue to be renting fot the rest kf my life most likely.

Sweet jesus how I pray for a massive property market crash. I don't see it happening though with AirBnB being a thing.
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