@POTUS46 please raise interest rates ASAP
Just got into the market last week and I'm all in with the re s at wsb. Bought CCIV and BB to start things last week, then plunged into GME during the dip after the Citron tweet.
@POTUS46 please raise interest rates ASAP
No, thank you. I already bought a house at the low interest rates. But now I'd prefer make some of that down payment money back in the market. And, unless I'm mistaken, higher interest rates would affect the market negatively.
Higher interest rates means you can make risk-free money on CDs.
Why? Weren't you interested in real estate?
Yes. Anyone with experience in the industry knows that lower interest rates = higher home prices. That confounded with the extremely low inventory due to renters wanting houses due to covid and mortgages getting approved at record rates even more than we saw in the 2005-2007 housing bubble. It's bound and determined to pop soon especially as the foreclosures start to hit hard and fast early this spring and get worse and worse as we head into the summer.
I worked in the banking mortgage industry from a IT database perspective and I personally can assure you that the COVID forbearance plans were 3 months max. Unemployment and underemployment is still sky high and these tiny little stimulus payments are little band-aids on a severe, deepening gash. Foreclosures are going to come fast and furious in 2021. Housing prices (in the short term) literally have nowhere to go but down. It's the top of the market and it's teetering on a cliff. Literally the worst buyer's market in all time history. But that is bound to change soon. Very soon. It has been a seller's market for far too long and this bubble is soon to pop and explode. Inventory will finally rise at long last, driving down home prices.
Mortgage requirements are nowhere near as lenient as they were in the mid 2000s. Requirements have become even more stringent due to the rona too. I wasnt old enough then, but I've heard stories of banks giving mortgages to people based on projected incomes. That's unheard of today.
I do agree that we're near the top of the market, but from what I've been told/researched, we shouldn't expect a huge drop like what we saw in the mid 2000s. Historically, that hasn't been the norm in real estate. We'll see a drop sooner rather than later, just nowhere near that level, imho. I was kind of hesitant to get in the game for fear that I'd miss out on the next housing bubble but I just ended up pulling the trigger on two properties in the second half of 2020. The rates were definitely a plus, tbh.
Correct, we won't see the ENORMOUS drop off that we saw in 2009-2010, and it won't last nearly as long this time (i.e. pretty much Obama's full first term) but the post-COVID buyer's market should still provide a good window for buyers and investors even if interest rates don't e back up to W.Bush era levels (which they likely won't in the short or medium term).
It's going to come soon and fast. We've never seen such a dead point in the real estate market in terms of record low inventory of single family homes. Apartments are going to be getting back to enforcing evictions soon enough and banks that were in the business of forbearance due to the spring COVID shock in early-mid 2020 are definitely NOT in the business of "forgiveness" so there will be foreclosures big time from March-August 2021 which will definitely increase supply/inventory and reduce prices back to earth, at least for the short term.
We might not see those $8K and $4K flip homes in prime real estate territory like we saw in 2010 but we'll definitely see a drop off in price per square footage/acreage in SFH in 2021, probably lasting in 2022 before trending back towards seller's market. Also apartment complexes are on the down trend right now since renting hasn't been ultra profitable during the pandemic due to anti-eviction laws but that will be returning to normal soon after the pandemic is over.
Twas a good day to be a wsb re . GME, BB, CCIV & PLTR all big in green.
It's not too late to jump on the GME gain train. If you've got a spare buck then feel free to join in.
is there a big inventory of PS5/XSX soon?
There should be, but it's irrelevant. This is a short squeeze and it really hasn't even started. There's still north of 65 mil shares shorted. Those interest rates are bleeding Melvin Capital and other wall street bigs dry, they'll have to cover at some point. Easy projection of 100+.
To add to my previous post the added inventory could be the catalyst to the ultimate squeeze. GME earnings are due in late march/early april. If the shorts are still holding on until that time then beating the earnings report, thanks to a healthy resupply of consoles, could be what finally sinks the shorts.
And trust me, the re s at wsb will do everything they can to make it happen if this battle of will goes until late march.
Another wild day on the GME ride. Topped at 155 but fell back immediately, and it's at 82.10 as I write this. I'mma ride this till at least 500, tbh.
Closed 90% of my positions on GME earlier today. Rode it from 39 to 310 in less than two weeks. Robinhood living up to is name, tbh.
I'll have to remind my friend to sell off his gamestop stocks now
He bought 100 shares 2 weeks ago. How much do you think he approximately made?
Bb, AMC, spce, abnb, express
What a day
Buy or sell Tesla stock, tbh?
I think it's still a good buy for a long term hold. But there's just quicker ways to make money right now.
I did buy one share today as a thank you to Papa Musk for his "gamestonk" tweet being the catalyst.
At least 20k, assuming he bought and sold around the same range I did.
Missed the AMC liftoff due to being locked into GME, but I was able to hop in at 14.00 after closing my GME positions.
WSB may now more powerful than any firm or hedge fund out there. It's pure insanity.
Oh, today I just put the $6000 for 2021 into my roth IRA so I have 24k and change in there since I've been doing it since 2018 but it collects very little interest.
My inlaws got wealthy on medium income and being frugal. Never touched equities, just put their savings into tax exempt bonds and CDs. Always pisses me off when he talks about how he used to get over 12% on CDs risk free.
Sure Andy, 400k income previous year, max roth ira contribution following year
I don't itemize. Itemizing gets you audited, especially at my bracket. Standard deduction FTW.
100% agree with this post. ZIRP is cancerous, encourages more borrowing which adds to the gargantuan ~30T national debt pile of manure, and thus should be outlawed. There should be a minimum Fed interest rate floor, but the keynesian s will blast me for that even though I'm right. I don't believe one should have to gamble in order to potentially get lucky or potentially fail and lose everything. the stock market.
Yes, should be around 3% minimum Fed rate. They should be allowed to go below that to deal with a crisis but only for 24 months max. An economy that can't support a 3% interest rate is a structurally unsound economy imo.
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