One reason to think strongly no - you are required to put up real money and UW standards for banks are at least in existence today vs 2007. I don’t know if I think this is a bubble or not, but in looking at houses recently, it seems a lot of them are being sold after 2017-2019 purchases. Literally first time home buyers of two years ago have $50-100k in equity in their houses and have decided to immediately trade up. They are buying homes a step up from people who also bought two years ago - who are going to do the same. All perpetuated by low rates and a creeping “house values can’t come down” mentality. I don’t know if that’s a bubble that will burst, but the above is definitely a cycle that leads to unnatural value inflation at a rapid pace.
Built last year/this year. Signed in June and closed in February. Same house, same neighborhood would be $172k more to build now.
I’m probably going to build in the next few months in a significantly cheaper market (~$55/sq ft difference). This will be fun I’m sure.
The Milkman when is it safe to invest in China again? BABA is so far off its high that I’m getting intrigued but it’s just continuous bad news. Gotta end sometime right?
Me too. But I’m still holding out hope for Viacom after it too went through a “non fundamental” correction.
i know i haven't been that active in here recently just bought 200 $BABA calls that expire next Friday for $0.68 each.
Doubled my position in LVS yesterday. Gonna be awhile before I see green on it though, if I do at all.
Advice on what to do with my emergency savings as I have $40K between my regular bank and online bank. With the current low savings account interest rates (Emergency savings is in the Amex High Yield Savings Account), would I be better off putting 2/3 of that into - Vanguard LifeStrategy Income Fund (VASIX) or Vanguard LifeStrategy Conservative Growth Fund (VSCGX)? I've run the numbers, and even if we have another massive drop in the stock market like last Feb/March and I had put $20K in at the top, I would have only lost ~$2K to $3K. I could live with that number.
these arguments never make any sense, theres no comparison to '08 from a functional standpoint the solution to our housing price problem is building a lot more housing, because having diminished supply largely from nimby's being a political force isn't something that causes a crash when there's plenty of people able to afford all the housing still. maybe we'll see a massive demand drop once everyone gets resorted post covid? that's not going to cause a crash though.
Agreed with this. Massive drop is going to be a lot of forced liquidations. I don't see that happening in this environment.
If it's emergency savings, it's there for an emergency (loss of job). At most, I would look at CDs or Ibonds/Treasuries. At least that's how I see it. I keep 6-8 months worth of expenses untouched, plus some more for normal use of things popping up. But I'm the sole income for a family of 5. If I was single or no kids, I would probably not have as much and could be more aggressive with it.
Talked with a guy that flips houses yesterday. A friend of his up in DC area is a home appraiser/inspector and BoA asked him how many he could handle a month and he was confused then they asked if he could do 200 a month as they anticipate a huge inventory of foreclosure coming once the moratorium is lifted. That’s where we could see a drop.
You put 20k on a two week call? my god man, good for you coming out green. I'm always amused when GK makes his profit off the things he lambasts frequently, first Tesla and Elon now Cathie Wood. If he wagers on Arsenal I'm going to have to jump on it.
Yeah. GK basically bought his house option trading against Tesla. I'm 100% behind any of his suggestions.
How did I miss these baba calls when I’m pretty sure I’m the one who brought up baba in here last week??
Friends of ours close on a new build today. The guy told me their builder has been dicking them around on agreed upon finishings hoping that they'd break their contract because they'll have $60-80K in equity the moment they get the keys.
We signed for our new build in January. Base price was $509k. Wife wanted nearly all of the upgrades that the model house had, so we did about $150k in upgrades. Moved in August 1st and the final price was $675k. The model house just listed for $778k and it's damn near identical to ours.
Nothing immediate unless both 6-year-old AC units die in the next few years. Potentially looking at a wedding, kids, and buying a house/moving to Denver 3-5 years from now.
Dual income, no kids. I own the house but we agreed that if I lost my job, we would get a travel nurse to rent out one of our furnished extra bedrooms to replace my portion of mortgage/utilities. I think I will put $20K of it into VSCGX and keep the rest of it as cash.
Hi. I'm Long big banks GS WFC BAC JPM, industrials DD DOW XLI, materials FCX HBM, energy XOM, Disc AMZN CMG TSLA, Coms FB plus COIN ARKK. What do you think on KWEB? Ready or more downside?
I thought you were a robot that just posted SJU nudes. Although I guess even bots need funding to pay for onlyfans