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Post by Dave's Not Here Man on Mar 9, 2023 12:58:07 GMT -5
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Post by minx on Mar 9, 2023 15:21:55 GMT -5
Well, I've been informed by reliable sources on Fox news that if we just cut everyone's social security checks and raise the retirement age there would be no debt!
Why would they lie?
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Post by k9krap on Mar 9, 2023 23:35:27 GMT -5
I think the question is, “why would they tell the truth?”
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Post by Dave's Not Here Man on Mar 10, 2023 13:10:56 GMT -5
The article points out a few things that everyone should be aware of, and beware of, when it comes to the health of our economy. It's NOT a good sign that consumer debt has gone up so much in 2 years. 2008 is all the proof you need of that. Guess what? 100 million people just bought houses for double and triple their pre-pandemic market value. So with most jobs (the ones touted as "added" and lowering unemployment) those aren't the jobs that pay enough for someone to purchase a reasonably priced home even in a two income household. So what happens when they do? Easy. 2008. They pay their mortgage with their wages and everything else on credit cards and loans, and ultimately go bankrupt and the banks, brokers, and everyone else making that money from your debt are all complacent just as they were in 2008.
I don't think the next recession will stop at the cliff.
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Post by minx on Mar 10, 2023 16:55:23 GMT -5
While you are correct, I do my best not to think about it.
The house up the street from me sold for $410K a few months ago. Totally and completely insane. These houses were build in the 80s and are nothing to brag about in terms of quality of construction.
In the past two months we've gone from our usual 10-12 clients at the food pantry on Saturday to over 23. This is my first week since SNAP benefits have been reduced. I'm sure we'll be super busy. Not a good thing.
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Post by k9krap on Mar 11, 2023 1:49:54 GMT -5
Yup. I bought this house for 450k in 2006. I viewed it as an investment and planned to sell it and move to something much smaller before I retired. Two years later, it was worth less than half what I paid and I’ve been stuck here ever since. I never expected to have this much debt (and a 2k mortgage payment) at this stage of my life.
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Post by minx on Mar 11, 2023 12:15:25 GMT -5
We didn't move in the early 2000s because it was too much of a hassle to pack shit up and we didn't have enough liquid cash to pay a moving company. And I was on antidepressants, but the wrong type for people who are bipolar (wasn't diagnosed yet).
Who knew that untreated mental illness and being a slob would save my life?
I wish they still had the HARP program so people in your situation could re-finance Pam. But you know Trump wasn't going to allow ordinary folk to prosper at his expense.
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Post by bobathon on Mar 11, 2023 15:00:22 GMT -5
Yeah, and now I want a small house. Great time to buy, right?
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Post by k9krap on Mar 11, 2023 23:31:27 GMT -5
The biggest fuck you is I put down nearly 200k when I bought this house and I still owe over 200k! I’ve been paying $1800 for 17 years and haven’t paid it down at all.
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Post by minx on Mar 12, 2023 12:46:09 GMT -5
Sounds like a student loan.
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