Thread: Money Investing megathread extravaganza
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Old 08-02-2024, 03:47 PM   #13836
lewdog lewdog is offline
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Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $-1348100
Quote:
Originally Posted by Hog's Gone Fishin View Post
Get ready for Mortgage defaults to start hitting. People that bought 4 years ago with variable rate loans bought what they could afford at the time. Now they are struggling if they got an adjustment. I've got 5 mortgages left on rentals that all adjusted in the last 12 months from 5% to 8.75%. I can raise rents, but people with a home mortgage just have to get a 2nd job. Meanwhile the property taxes have increased as well as fuel and groceries. Banks are going to get wrecked shortly or another bailout. Never ends.
I agree. Most signs point to that repeating. It is cyclical and it's coming soon (1-2 years), IMO.
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