Recession?

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Dgflorida
Posts: 3430
Joined: Wed Oct 07, 2015 8:10 pm

Re: Recession?

Post by Dgflorida » Mon Sep 09, 2019 2:40 pm

Good points to ponder Frugalmom. I agree with a lot of what you said. I feel the uncomfortable feeling that we are setting the stage for a "pull back". And I don't like the national debt situation. And yes, China holds a lot of our loans and they have substantial investment in the US. Yes, I agree with you on a housing downturn. Even though home loans are priced low, restrictions are tight. I occasional look at Zillow to see what my little house is worth. Right now, it matches the highest value it has had since before 2008. During that recession, it lost a 1/4 of its value. For anyone who bought during the bubble, their house value was underwater. I was so sad for the many people who got trapped. I agree with you that we need to make affordable homes.

Here in Florida, we are seeing absolutely wild growth of businesses. When I lived in Texas a few years ago, I recall the malls going downhill. Online sales are contributing to the store closings. Other things as well. Things certainly seem to be in a state of flux.

icfrugal1
Posts: 2368
Joined: Fri Aug 28, 2015 12:54 am

Re: Recession?

Post by icfrugal1 » Tue Sep 10, 2019 1:54 pm

Dgflorida wrote:
Thu Aug 22, 2019 7:34 pm
I agree with ohjodi and Bev. The problem is ugly. Those who can afford to move to escape higher taxes are moving. This leaves those who cannot afford the higher taxes as the only ones left to financially depend on. So due to their fewer numbers, taxes increase again until the only ones left are those who are on welfare and on the streets. This breaks the public service sector. It is not sustainable.
So true, my sister owns a condo and so many people were not paying the HOA fees that they raised the fees on those who were paying them !!!!!!!! And they stated that that was the reason.

I assume that there is a lien against the probertites, but that would take the people selling their units to sell them for the liens to be paid .(I think)

IC

Dgflorida
Posts: 3430
Joined: Wed Oct 07, 2015 8:10 pm

Re: Recession?

Post by Dgflorida » Wed Sep 11, 2019 7:37 am

Wow ICfrugal. I didn't realize it was already happening.

icfrugal1
Posts: 2368
Joined: Fri Aug 28, 2015 12:54 am

Re: Recession?

Post by icfrugal1 » Wed Sep 11, 2019 6:05 pm

Dgflorida wrote:
Wed Sep 11, 2019 7:37 am
Wow ICfrugal. I didn't realize it was already happening.
I'll have to ask her, but this was a few years ago.

IC

LogicsHere
Posts: 482
Joined: Sat Aug 29, 2015 9:49 am

Re: Recession?

Post by LogicsHere » Wed Sep 11, 2019 6:24 pm

When talking with my broker about 2 weeks ago, I asked them what were "their" thoughts were on a recession. He said that they don't believe Trump will allow that to happen and will manipulate the market to avoid a temporary recession in the hopes of being re-elected. But if he did end up winning again :(, he would have NO further incentive to help the little guy and that there would be a very strong possibility of a recession in 2021.

BevMoore
Posts: 694
Joined: Thu Aug 27, 2015 11:04 pm

Re: Recession?

Post by BevMoore » Wed Sep 11, 2019 6:47 pm

That all makes sense. Second term recession does sound like a strong possibility. I am keeping a close eye on my small 401k and 457 accounts. I will have to start making minimal withdrawal in 2021 but may start sooner if it shows signs of tanking. My concern would be how much of a loss would I have vs how much I would be taxed if I took it all out at the top.

This is why I have been aggressively paying as much as I can on my mortgage. I hope to have that and my van both paid off by 2023. Recessions don't usually affect me one way or another other than its easy to find good help for home maintenance. But I want to hold on to everything for the family.

Like everyone else I am watching things.....

Bev

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