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Inmate Central Inmate Central, where civil and family-friendly discourse about off-audio topics (other than religion and politics) is welcome. |
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In Reply to: The Times They are A- changin' posted by tweaker456 on May 5, 2022 at 10:01:34:
...and we're there. I have a mortgage, and a secured line of credit at fixed rates. I haven't utilized the line of credit, and have the money to pay-off the mortgage any day of the week, but I'll probably never be able to borrow money at that rate again (during my lifetime). I liquidated a lot of real-estate assets, largely divested myself from the market, and am sitting on cash--which isn't earning shit--right now.
Interest is up (and it will keep climbing), the market is down ~1000 pts yesterday--the bartender is clearing the glasses and making last-call. A year from now (when all of the variable-rate re-fi's start setting-in), I'll get back in the game. Last I read, foreclosures are up 32% over last year, but housing prices haven't dropped yet, due to demand. It will all "catch up" next year. I'll just wait and watch.
"And today is for sale and it's all you can afford. Buy your own admission. The whole things got you bored. Well the Lord chooses the good ones, and the bad ones use the Lord"--a very dear friend for decades Michael Stanley (Gee)--RIP
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- Even the "gravy train" has a final "stop"... - dark_dave56 05/6/2205:37:15 05/6/22 (0)
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