Investing megathread extravaganza

[DaFace]

A place to talk about investing stuff.

[BigBeauford]

My Casper stocks are slaying.

[Discuss Thrower]

2008 recession blasted construction, manufacturing and financial / professional sectors employment.

I think an economic depression would mean construction falls off a cliff, if you're bearish then short homebuilders but probably not Lowe's / Home Depot types.

Big Finance I could imagine will have layoffs which will ultimately improve their bottom line as IB was already purging entry / early tenured professionals. I think working from home will expose IB and big corp management to the idea that their headcounts are inflated.

[Halfcan]

I like having Green days in my account. I hope it keeps rolling.

[ChiefRocka]

Originally Posted by Halfcan

I like having Green days in my account. I hope it keeps rolling.

4000+ days wasn't enough.

[Discuss Thrower]

Not that I think anyone will be buying houses who aren't already in the position where they are immune from the depression, but it's looking likely mortgage rates will go up as lenders raise minimum FICO scores and thus will need higher yields to meet the bottom line.

[O.city]

Originally Posted by Discuss Thrower

Not that I think anyone will be buying houses who aren't already in the position where they are immune from the depression, but it's looking likely mortgage rates will go up as lenders raise minimum FICO scores and thus will need higher yields to meet the bottom line.

So it’s a good thing I got locked in at 2.9 percent this month?

[Discuss Thrower]

Originally Posted by O.city

So it’s a good thing I got locked in at 2.9 percent this month?

If you're going to stay in the house for a time where the amount you spent in fees is saved in cheaper mortgage payments, sure.

[KCUnited]

My attorney told me he has 15 closing scheduled for next week then crickets. I've been monitoring the list of properties we were interested prior to buying and nearly all are price slashing, one slashed their price twice yesterday.

[blake5676]

Originally Posted by Discuss Thrower

Not that I think anyone will be buying houses who aren't already in the position where they are immune from the depression, but it's looking likely mortgage rates will go up as lenders raise minimum FICO scores and thus will need higher yields to meet the bottom line.

Care to elaborate on this or link to any reasoning?

Wife and I are currently building a house. Two months ago I was thinking, "Great...market is doing well and we shouldn't have trouble selling current home AND interest rates are pretty damn low and not expected to rise much if at all."

In the past few weeks, rightly or wrongly I've thought that while I'm still not terribly worried about interest rates rising too much by the time our build is complete, I've started being a little less confident in the ease of selling our current home.

As it stands, construction hasn't slowed down and builder doesn't foresee much change in original timeline, which is targeted at a late October completion.

[O.city]

Originally Posted by Discuss Thrower

If you're going to stay in the house for a time where the amount you spent in fees is saved in cheaper mortgage payments, sure.

My mortgage guy covered all the fees

And My next address after this one will be the cemetery

[Discuss Thrower]

Originally Posted by blake5676

Care to elaborate on this or link to any reasoning?

Wife and I are currently building a house. Two months ago I was thinking, "Great...market is doing well and we shouldn't have trouble selling current home AND interest rates are pretty damn low and not expected to rise much if at all."

In the past few weeks, rightly or wrongly I've thought that while I'm still not terribly worried about interest rates rising too much by the time our build is complete, I've started being a little less confident in the ease of selling our current home.

As it stands, construction hasn't slowed down and builder doesn't foresee much change in original timeline, which is targeted at a late October completion.

Talk to a mortgage lender as soon as it's convenient. If your FICO score is above 650 you'll probably be fine.

[blake5676]

Originally Posted by Discuss Thrower

Talk to a mortgage lender as soon as it's convenient. If your FICO score is above 650 you'll probably be fine.

It's been a few weeks since last contact but we've spoken to a few. Wife has perfect credit and mine comfortably in the 7's but not as good as hers.

We aren't planning on paying to lock super early but I guess we'll just be playing it by ear over the next few months and see what happens. My main priority right now is talking her OUT of selling the house in a few months and moving into a short term while the build finishes. That sounds like hell on earth to me.

[ChiliConCarnage]

Corporate Insiders bought the dip



I've also seen prominent hedge fund types who seem to have done the same. Sort of surprised, but I guess it should be obvious by how fast we shot up that large buyers had to be moving it.

[KCUnited]

Had to provide a handwritten letter to my mortgage underwriter stating my employment/income has not been affected by covid-19...1 business day before closing.

[Rain Man]

Originally Posted by ChiliConCarnage

Corporate Insiders bought the dip

Very interesting.

One thing I've thought about in the past (2009-2011) is that recessions are good for the big investors as long as they're short. Big investors can sit on losses for a while and buy when everyday people are desperate and worried about losing everything.