Mortgage meltdown 2.0

Captain Rhett Butler

Driving Instructor
My trusted financial adviser has advised me to be totally debt free and tuck away cash in bonds and money markets. Something big is on the horizon...

Americans are in record debt on all levels; home mortgages, credit card, auto loans, and college debt. The political winds are changing and the younger generation wants everything for free. They keep living the high life using credit cards and increasing debt. Folks are taking out 40 year mortgages just to be able to afford the minimum payments. It looks like we may be back in 2007 again. I hate to say it but there is no upside to real estate now. Its all downhill from here. The last recession was a decade ago so people forgot that you can lose everything. 11 million families lost their homes, unemployment was over 12%. People in the stock market know there will be bear markets and recessions. People who have their wealth in home equity always seem shocked when their home value drops by 50% or more.

Brace yourself for hard times ahead...
 
Sounds like now may be the time to sell my house and move while the market is good... I really need to wait until Feb so I can have my oldest car paid off first. I hope the market makes it until then.
 
"Markets" (add specific name here) never continue in one direction. What people often fail to realize is that the "fluctuations" are often planned and organized. There is more money to be made in playing the fluctuations (between the highs and lows) than just on one end alone. Here's the rub though, the "experts" always have a "logical" explanation whenever it happens. Anytime we're approaching all-time highs (or lows), obviously a correction is near.
 
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