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Feel the booming economy

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  • SFGbob
    SFGbob Member Posts: 33,183

    SFGbob said:

    SFGbob said:

    1,1 million? Maybe if I died 2 years after retirement.
    Depends on where you live. 1.1 Million along with your Social Security and a paid off mortgage. You're not taking month long trips to Europe, but you're not eating cat food either.
    So live in south western Georgia and don’t travel. Sounds awesome.
    For you maybe it would suck. For others, they'd be fine with it. C'est la vie
    Yes..I realize a lot of people live in shitty houses in shitty places and spend time in the above ground pool from Walmart while listening to Molly Hatchet and working on there 1978 ford ranger and are happy. I’m sure that person could retire on less than 1.1 million.
    Now you're Flirtin' with Disaster
  • Pitchfork51
    Pitchfork51 Member Posts: 27,662

    SFGbob said:

    1,1 million? Maybe if I died 2 years after retirement.
    Depends on where you live. 1.1 Million along with your Social Security and a paid off mortgage. You're not taking month long trips to Europe, but you're not eating cat food either.
    So live in south western Georgia and don’t travel. Sounds awesome.
    What about a month long trip to the bar
    That’s doable
    It'll be like leaving lost Vegas. But with crappy chicken wings
  • TurdBomber
    TurdBomber Member Posts: 20,039 Standard Supporter
    SFGbob said:

    This recession will be much easier to deal with knowning that we have a women Treasury Sec, a gay immigrant Press Secretary and a Trannie at the HHS.


    No love for ButtPlug at DOT?
  • TurdBomber
    TurdBomber Member Posts: 20,039 Standard Supporter

    SFGbob said:

    SFGbob said:

    1,1 million? Maybe if I died 2 years after retirement.
    Depends on where you live. 1.1 Million along with your Social Security and a paid off mortgage. You're not taking month long trips to Europe, but you're not eating cat food either.
    So live in south western Georgia and don’t travel. Sounds awesome.
    For you maybe it would suck. For others, they'd be fine with it. C'est la vie
    Yes..I realize a lot of people live in shitty houses in shitty places and spend time in the above ground pool from Walmart while listening to Molly Hatchet and working on their 1978 ford ranger in the front yard might be happy. I’m sure that person could retire on less than 1.1 million.
    How did you find my retirement goal sheet?
  • UW_Doog_Bot
    UW_Doog_Bot Member, Swaye's Wigwam Posts: 18,095 Founders Club

    SFGbob said:

    SFGbob said:

    1,1 million? Maybe if I died 2 years after retirement.
    Depends on where you live. 1.1 Million along with your Social Security and a paid off mortgage. You're not taking month long trips to Europe, but you're not eating cat food either.
    So live in south western Georgia and don’t travel. Sounds awesome.
    For you maybe it would suck. For others, they'd be fine with it. C'est la vie
    Yes..I realize a lot of people live in shitty houses in shitty places and spend time in the above ground pool from Walmart while listening to Molly Hatchet and working on their 1978 ford ranger in the front yard might be happy. I’m sure that person could retire on less than 1.1 million.
    I could retire overseas comfortably on 1.1 million np.
  • pawz
    pawz Member, Moderator, Swaye's Wigwam Posts: 22,467 Founders Club

    SFGbob said:

    SFGbob said:

    1,1 million? Maybe if I died 2 years after retirement.
    Depends on where you live. 1.1 Million along with your Social Security and a paid off mortgage. You're not taking month long trips to Europe, but you're not eating cat food either.
    So live in south western Georgia and don’t travel. Sounds awesome.
    For you maybe it would suck. For others, they'd be fine with it. C'est la vie
    Yes..I realize a lot of people live in shitty houses in shitty places and spend time in the above ground pool from Walmart while listening to Molly Hatchet and working on their 1978 ford ranger in the front yard might be happy. I’m sure that person could retire on less than 1.1 million.
    I could retire overseas comfortably on 1.1 million np.
    This. And more Americans than ever are choosing that route.




    *Don't make me go find the article.
  • Swaye
    Swaye Moderator, Swaye's Wigwam Posts: 41,739 Founders Club
    Costa Rica here I come bitches!
  • Pitchfork51
    Pitchfork51 Member Posts: 27,662
    Swaye said:

    Costa Rica here I come bitches!

    I actually plan on chilling in Panama City for a few months next year
  • 46XiJCAB
    46XiJCAB Member Posts: 20,967
    A recent list of the Top-5 places to retire if you're pour? or just want to live very well.

    Panama
    Costa Rica
    Mexico
    Portugal
    Colombia

  • BleachedAnusDawg
    BleachedAnusDawg Member Posts: 13,236 Standard Supporter
    There's a reason why I'm fine watching Caribbean life with the wife. Long-game for the retirement move.
  • greenblood
    greenblood Member Posts: 14,560

    High mortgage rates are good


    The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
  • BleachedAnusDawg
    BleachedAnusDawg Member Posts: 13,236 Standard Supporter
    Bob_C said:

    High mortgage rates are good


    The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
    And don’t feel like trading in their 3% mortgage for a 5-6% one.
    Yep. Hoping to HELOC in to our next one in a couple years, too. Anybody who sells out of their 3% rate is a fool.
  • BleachedAnusDawg
    BleachedAnusDawg Member Posts: 13,236 Standard Supporter

    High mortgage rates are good


    The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
    Inventory has doubled from historic lows, but is still extremely low versus a balanced market. No more 20% annual appreciation and bidding wars, but don't expect to see huge drops, either. Will be interesting to see how appraisals shake out as many comps the past year were bidding war prices and not actual values.

    Also, new home starts are already dropping so that harms supply further.
  • PurpleThrobber
    PurpleThrobber Member Posts: 48,082

    High mortgage rates are good


    The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
    Inventory has doubled from historic lows, but is still extremely low versus a balanced market. No more 20% annual appreciation and bidding wars, but don't expect to see huge drops, either. Will be interesting to see how appraisals shake out as many comps the past year were bidding war prices and not actual values.

    Also, new home starts are already dropping so that harms supply further.
    All valid points - my personal belief is the slowing of real estate will be much more regionalized than in the past. The exodus of workers to more friendly climes will maintain demand in those areas enough to offset more historic interest rates (the crack of 3% mortgages the last decade will need to be sent to rehab).

    Overpriced shitholes like PDX, SEA SF and LA will feel the pain much more than Texas, Utah, Idaho and other more moderately priced markets.

    They'll also bounce back faster if and when the adults get back in charge but we've seen this boom bust cycle in the past.

  • Sledog
    Sledog Member Posts: 37,774 Standard Supporter

    High mortgage rates are good


    The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
    Inventory has doubled from historic lows, but is still extremely low versus a balanced market. No more 20% annual appreciation and bidding wars, but don't expect to see huge drops, either. Will be interesting to see how appraisals shake out as many comps the past year were bidding war prices and not actual values.

    Also, new home starts are already dropping so that harms supply further.
    All valid points - my personal belief is the slowing of real estate will be much more regionalized than in the past. The exodus of workers to more friendly climes will maintain demand in those areas enough to offset more historic interest rates (the crack of 3% mortgages the last decade will need to be sent to rehab).

    Overpriced shitholes like PDX, SEA SF and LA will feel the pain much more than Texas, Utah, Idaho and other more moderately priced markets.

    They'll also bounce back faster if and when the adults get back in charge but we've seen this boom bust cycle in the past.

    Yes it has cycled wildly here in Idaho before. We'll see how some of these transplants do with winter. It's funny to watch but hard to get anywhere.
  • PurpleThrobber
    PurpleThrobber Member Posts: 48,082
    Sledog said:

    High mortgage rates are good


    The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
    Inventory has doubled from historic lows, but is still extremely low versus a balanced market. No more 20% annual appreciation and bidding wars, but don't expect to see huge drops, either. Will be interesting to see how appraisals shake out as many comps the past year were bidding war prices and not actual values.

    Also, new home starts are already dropping so that harms supply further.
    All valid points - my personal belief is the slowing of real estate will be much more regionalized than in the past. The exodus of workers to more friendly climes will maintain demand in those areas enough to offset more historic interest rates (the crack of 3% mortgages the last decade will need to be sent to rehab).

    Overpriced shitholes like PDX, SEA SF and LA will feel the pain much more than Texas, Utah, Idaho and other more moderately priced markets.

    They'll also bounce back faster if and when the adults get back in charge but we've seen this boom bust cycle in the past.

    Yes it has cycled wildly here in Idaho before. We'll see how some of these transplants do with winter. It's funny to watch but hard to get anywhere.
    Fuck Steve Kerr and anything north of Appleway on 95.

  • theknowledge
    theknowledge Member, Swaye's Wigwam Posts: 5,634 Founders Club

    SFGbob said:

    SFGbob said:

    1,1 million? Maybe if I died 2 years after retirement.
    Depends on where you live. 1.1 Million along with your Social Security and a paid off mortgage. You're not taking month long trips to Europe, but you're not eating cat food either.
    So live in south western Georgia and don’t travel. Sounds awesome.
    For you maybe it would suck. For others, they'd be fine with it. C'est la vie
    Yes..I realize a lot of people live in shitty houses in shitty places and spend time in the above ground pool from Walmart while listening to Molly Hatchet and working on their 1978 ford ranger in the front yard might be happy. I’m sure that person could retire on less than 1.1 million.
    Have you been to my house? Switch out the Ranger with a Bronco and you have described my real life Shangri-la.
  • BleachedAnusDawg
    BleachedAnusDawg Member Posts: 13,236 Standard Supporter

    High mortgage rates are good


    The only reason housing prices haven’t cratered is because there’s very little inventory. People are not wanting to sell their homes, With more and more jobs being done remotely, people don’t have to move for new jobs as much.
    Inventory has doubled from historic lows, but is still extremely low versus a balanced market. No more 20% annual appreciation and bidding wars, but don't expect to see huge drops, either. Will be interesting to see how appraisals shake out as many comps the past year were bidding war prices and not actual values.

    Also, new home starts are already dropping so that harms supply further.
    All valid points - my personal belief is the slowing of real estate will be much more regionalized than in the past. The exodus of workers to more friendly climes will maintain demand in those areas enough to offset more historic interest rates (the crack of 3% mortgages the last decade will need to be sent to rehab).

    Overpriced shitholes like PDX, SEA SF and LA will feel the pain much more than Texas, Utah, Idaho and other more moderately priced markets.

    They'll also bounce back faster if and when the adults get back in charge but we've seen this boom bust cycle in the past.

    I had a real estate friend mention that the Elon effect of forcing his employers back to work could also come in to play here. The rest of tech are watching.