A friend of mine was wondering how bad it's going to get.... (Full Version)

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Griswold -> A friend of mine was wondering how bad it's going to get.... (7/9/2008 5:39:10 PM)

(A very good friend).

So I told her....

"You ain't seen nothing yet.

I try to hold back telling you what I see coming, and occasionally I do anyway.

I waver....sometimes I think "I need to tell her exactly what's coming" and then other times I think "don't scare her...she has enough to worry about"...but honest to God (her name)....you ain't seen nothing yet.

Everything you've ever read about the depression of the 30's is literally only months away.  Maybe 18 - 36 months at tops.

I'm signing contracts today with clients I would never have signed with 3 years ago, solely because I want to take every opportunity I can take to get cash in the bank, and maybe the dice will stay on my side.  If they (the clients) fail on me (and several have already), I'll lien their property and possibly end up owning it...at 3 cents on the dollar.

And I'm in an area where things are still quite 'golden'.

Sounds good....own a $350,000.00 piece of real estate for the cost of $11,000.00.

Except no one else may be in a position to buy it...and I'll still be stuck with the taxes.

I've actually avoided being this specific in the past but....if I were you...meaning, if I were living where you live, and I owned your home....I'd sell it.  I'd get out with whatever cash I could get out with and I'd move to a place where I felt comfortable, and I'd resign myself to the fact that, as rotten as it is....I may have to start over.

Starting over...with cash, is a hell of a lot better than being left hanging with debt that may not be able to supported.

I've been in that spot before...twice.  And I got out both times. It hurt, it was debilitating, both physically and to my ego, but I recouped, only because I got out and lowered my costs.

Both of those times were caused by my own stupidity and could have had an entirely different outcome had I not been so incredibly stupid prior to.

This time is very different, and no one can stop it.

It's better to drive a used Pinto, than to walk.  And it was better to live in a one bedroom apartment I could afford, than a 3 bedroom home that someone was going to take away from me had I not let go of my pride and said "I'll live to fight another day".

And in the end, I was stronger because of the decision to step back 3 paces.

The people that don't believe the above, are certain it just couldn't be true...simply will not live to fight another day."

It's gonna get bad.

(Real bad).



odioustoad -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 5:41:39 PM)

Unfortunately, I think you're right.



sunshinemiss -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 5:44:48 PM)

Simplify... It's wonderfully powerful and peaceful. 

I was absolutely adamant that I didn't want to buy or rent a car when I came back to the states.  I bought a bike today from a kid who gets them at yard sales, fixes them up, and sells them.  Yep I paid too much for a used bike (a hundred bucks for a $60 bike), but I helped recycle, helped an independent entrepreneur, and I saved the earth.  Not bad for a hundred bucks.

peace,
sunshine



camille65 -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 6:03:58 PM)

If I'm very lucky I will have a buyer for my house. It is scary to look around and see the foreclosure signs springing up like mushrooms after a rain. I live in a wonderful area and they are everywhere.

The ones that bother me the most say:
Home for Auction
By Owner
Sunday Night, Top Bid Wins

[&o]

Huge swaths of land have the beginnings of neighborhoods but when you take a second look you realize that the empty lots are overgrown and the few model homes standing are empty and echoing inside.

Apparently there are more foreclosures right now than any time in history, add to that the general economic woes which makes it really hard to find optimism. I am desperately hoping that this sale goes through despite how much I love this place. It isn't just a house on a piece of property to me, it symbolized everything that I'd worked for. The rolling hills and deep woods have given me so much, but this potential buyer loves it as much as me and that helps.

I'm rambling.
Sorry [8|].



Level -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 6:12:38 PM)

quote:

ORIGINAL: sunshinemiss

Simplify... It's wonderfully powerful and peaceful. 



Agreed.



Griswold -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 6:40:23 PM)

quote:

ORIGINAL: Level

quote:

ORIGINAL: sunshinemiss

Simplify... It's wonderfully powerful and peaceful. 



Agreed.


(What he said).



leakylee -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 7:06:32 PM)

i know the rental market is bad enough in this area. that two of the tenants in our houses are getting by with paying here and there. never in all the years of having these rental has my family let them slide, but right now some money is better than none. it is really getting scarey.



LadyHibiscus -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 7:26:22 PM)

We live in one of the most depressed areas in the country, Camille!  Mega good beamz for a buyer for your place!!



petdave -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 7:28:25 PM)

quote:

ORIGINAL: Griswold

I've actually avoided being this specific in the past but....if I were you...meaning, if I were living where you live, and I owned your home....I'd sell it.  I'd get out with whatever cash I could get out with and I'd move to a place where I felt comfortable, and I'd resign myself to the fact that, as rotten as it is....I may have to start over.


You'd have to be even crazier than i am to do that if you were me. This house is freakin' sweet.

Besides, we've got one thing we didn't have in the '30s- fiat currency. i'm laying my wager on inflation.

Plus a lot of practical skills

and a bit of hoarding.

Happy hump day!



camille65 -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 7:33:54 PM)

quote:

ORIGINAL: LadyHibiscus

We live in one of the most depressed areas in the country, Camille!  Mega good beamz for a buyer for your place!!


Thank you thank you. I'm so worried it won't happen and I swear to all I hold dear that I won't be stuck out here another winter. This just has to happen.
That way I can have my anticipated nervous breakdown over the whole moving to a strange place concept! [8|]



Daddysredhead -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 7:37:59 PM)

Simplicity has its bonuses.

When I had to sell my house during the days of my divorce, I couldn't believe that I was giving up our home, our nice big home.  But, after the shock of it all, I moved myself, the Things, and my dad into an apt.  We went from 3500 sq. ft. to 1200 sq. ft. of living space (that's why so much shit ended up in storage).  I was stunned at first, then became ok with the fact that we were, at least, together and had a roof over our heads.  I'm also very happy that I don't have any credit cards except for one that has my car repairs on it, and that's all it can be used for, so my spending is limited to what I can pay cash for.  It's really freaking tight most of the time, but I know I don't have debt coming out the wazoo.



mistoferin -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 7:45:03 PM)

I'm seeing the same thing here Camille...just an hour or so north of you I think. People are leaving in droves. I was talking to a realtor friend of mine yesterday about the old neighborhood. It's a place full of beautiful Victorian homes. Compared to some parts of the country, their appraised value would make them a steal. I mean really nice homes with gorgeous Tiger Oak woodwork, hardwood floors, bevelled glass. The state says they are worth $50,000 and as I said, compared to other places that is an amazing price. He said that those homes have been selling for between $10,000 to $15,000 this past year. I've seen $150,000 homes that aren't half the house these places are. Many stand vacant because there are no buyers and the occupants went in search of greener pastures. Lots of them have even had the copper plumbing stolen out of them to be sold as scrap. A beautiful neighborhood is turning into a crack infested ghetto. What a shame.



TheGorenSociety -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 8:36:56 PM)

Hello,  well I agree with Griswald  if you think it is bad now just wait his time frame is right on track, we are prepping like mad men. we will be moving to  remote site in the coming months once there we are planning on living sustain-ably completely off grid.  Imagine Katrina but a 100,000 times worse and every man for himself. Once it really starts and the common man loses everything, the rats, powers that be will lose all control.Good luck.



rook42 -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 8:57:43 PM)

*chuckle* I was going to say, my area's pretty bad as well, LadyHibiscus... But we seem to live in the same spot. Hardly the best job market here, either.



jlf1961 -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 9:12:18 PM)

well the house is paid for, the taxes are rock bottem, there is powder in the barn as well as a few other party favors....  and enough canned goods to open a small country store.



TheGorenSociety -> RE: A friend of mine was wondering how bad it's going to get.... (7/9/2008 9:28:57 PM)

looking pretty good then  I know we are working hard and paying off what's left bills wise for us and those in our group not easy today



jlf1961 -> RE: A friend of mine was wondering how bad it's going to get.... (7/10/2008 12:17:47 AM)

And i forgot to add that if things work out, I will be the proud owner of a couple of horses.   No gas needed....

Uh, I wonder if DA knows how to operate a horse???



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