Rolling US Economy Into The Shitbin Thread

Sorry ez. FWIW we have an open house across the road and I checked it out today. aside from the fact that no one is taking the free snacks they set out, it seems like the insanely cheap money is leading to a little boomlet in this market at that price point (first time buyer, young family, etc.) I’m not sure the sellers would choose to sell in this environment in an ideal world though.

Meanwhile

BREAKING: U.S. 10-year Treasury yield plunges below 0.5% https://t.co/2AGkdlQhDL pic.twitter.com/X7A4qiXNKc

— CNBC Now (@CNBCnow) March 9, 2020

So what you’re saying is if I don’t lose my job I should buy a house?

tbh it seems like both a buyer’s and seller’s market? no reason to invest in stocks unless you’re banking on the recovery as there are no immediate gains and mortgages are cheap. as a seller you might be able to move a house faster. idk, lots of variables

i am supposed to sell my place in a couple of months. It's bumming me out a little because I really wanted to sell it for the past two years but my friends have been renting it from me and I kind of was trying to let them organically move out on their own time. And then I just kind of realized that was never going to happen without me giving them a timeframe. The timeframe being in 2 more months given to them over 8 months ago. C'est le putain covid la vie or something. Oh well.

I wouldn’t go that far, but if you own a house you should probably refinance in a month or two.

love to clean my bathrooms for a stranger to put a dollar amount on how well i cleaned my bathrooms

During uncertain times people tend to hang onto their money, avoid purchases and accruing debt, so that the pace at which money circulates slows down markedly. The Fed tracks this as a measure of economic fears. If this scenario continues to generate uncertainty in large quantities, I'd look for plenty of refinancing of loans, but a slow housing market... up to the point where buying looks so much better than renting that the risk of buying in a weak or falling market seems worthwhile.

xpost is that a new startup idea?

I don't have a mortgage (honestly it's luck and being stupid frugal about things). I just don't want the responsibility of a place i don't really live in anymore.

I am considering a refi but I just did so less than two years ago, owe less than $150k, and have a below 4% rate already

I guess instead of paying cash I could pull more mortgage money for a kitchen remodel, but it seems like a lot of churn

refinancing is almost as much work as closing on a house, so don't do it for the lols. but at our balance (lol california) we'd be talking a $500+/month saving over the lifetime of the loan if things keep up like this.

had no clue expedia bought them years ago

ahhh so that explains the jank

Hey guys

i refinanced my first place and went from 6.0% to like 4.25%. It was very, very annoying to do and then I annoyingly ended up selling maybe two years later.

I bought a negligible amount of tvix before close last week, even though I hate tvix. I should've had more faith about no good luck USA + world.

I used some online calculator, and given we have less than ten years left on a mortgage already locked in low at a little over 3.25%, a refinance would save us monthly but ultimately end up costing thousands extra, plus closing costs and stuff.

In my opinion, it’s a great time to buy stocks or into your 401K. I would be all in... let’s see if I’m right...

— Eric Trump (@EricTrump) February 28, 2020

so irresponsible.

So Wish I could !!! But your Absolutely Right. Tempted to Borrow 💰!!!

— Christine Van Beveren (@ChristineVanBe3) February 28, 2020

Every dumbass has the right to do a "oohhh teh stocks r down, I'd buy now!" hey-look-at-me-all-savvy-and-wallstreet-like-amirite I suppose.

ridiculous when they halt trading.

Yikes

minus 1900 today so far LMAO

let's throw out this bread

15 minute halt?

how’s that free market working out

It's free falling, I'll give it that.

Thanks for your thoughts/takes yesterday (dad passed away, mom needs assisted living, likely selling their house). Open houses nearby were busy yesterday and they’re in a non-touristy small-ish town 90 minutes north of the Bay, affordable compared to towns south of here, so I’m curious to see how the market + virus + etc. affect things in the next few months.

OXY down 43% today.

I guess one problem with tech-dominated housing markets (not sure if your place is one of these) is the stock market directly impacts the income of the people buying, since they get paid in stock. So even if rates are low, they may be taking a 40% pay cut this month too (very bad news for the state of California btw, which has insanely low property taxes and depends on income tax).

refreshing the Dow Jones page on Business Insider is kinda fun tbh. line go boom!

the only time I ever look at a yahoo web page is yahoo finance, which updates the market slaughter in real time

Ugh, can I say that front page of Business Insider is like a big bad news bomb.

The CDC just released a warning to all Americans over 60: Stock up on food and medications and avoid venturing outside

Coronavirus: Italy lockdown plan leaked, thousands tried to flee

'A nuclear f---ing warhead': A former hedge-fund manager says coronavirus panic will bring the global economy to its knees — and a depression is now his 'base case'

i've been waiting for a black swan event. It sucks that it's this.

The CDC just released a warning to all Americans over 60: Stock up on food and medications and avoid venturing outside

And please for the love of god steer clear of crowded places, such as post offices and voting sites!!

I'm not sure that warning is particularly new, I think it's actually just the standard line for any disaster: hurricanes, quakes, heat wave, et al.

i did not sell any of my bear positions.

might regret it. Who knows!

bear positions say hi to u

a pal went to full treasuries position last month, and i was like “US treasuries, or like somewhere else?” because that crown, some trumpy day...

Lmao markets gonna be up 1000 today bc literally all this country cares about is juicing the stock market

kind of lol about the quick stimulus when supposedly the markets had been so strong for so long.

incredible free market, just the best

I know they have to report on it somehow, but to go from the market "cratering" to the market bounce back or surge or whatever might be accurate, but ... a market that swings overnight between cratering and surging is a sign of something fundamentally amiss. If not in the market, then def. in the reporting.

My 401k performance YTD. That divide between the green and red is ~Feb. 20. This represents about a 10% dip in overall value.

When I posted this on FB, one of my friends glibly commented, "Time to buy!" I'm not a fucken day trader, this is my retirement plan!

https://pbs.twimg.com/media/ESr8vhAXQAEBSLH?format=jpg&name=medium

what does your chart look like from 4Q2016 to now.

it just went negative because the rally was due to Trump floating some tax cuts and shit until eager investors had their coffee and realised he has no fucking plan in place to do any of it.

BREAKING: Dow completely erases 945-point gain, turning into the red https://t.co/q4MhIKA07O pic.twitter.com/EnYQuNomB5

— CNBC Now (@CNBCnow) March 10, 2020

Did I say surge? I meant crater!

yeah, i don't really talk about positions here so much because I don't want people to take any advice off the internet about their own finances but I saw the green in premarket and just walked away until it tanked. and now I am happy.

i was bad and ignored the advice of everyone and moved my retirement money (public sector version of 401k) out of stocks over the weekend. i know that i have been bad i am glad that i did it