Grit dog wrote:

One thing is for certain, we have yet to fully realize the downstream effects of the mess created by the pandemic.
I don’t claim to be a smart man or have the answers and those that do claim to understand it are likely posturing, as we all should be in our own way.
Not a zombie apocalypse prepper. But also not an ostrich.
Been bit by recession and also capitalized on it, and yes something still smells a little different about the current situation. (Maybe it’s my sense of smell after having the Rona, but everyone would be well served to stay a bit aloof and protect their own interests the best way they see fit.) Remember, you can only control what YOU do.

cptqueeg wrote:

"most will be completely wiped out" - That is some doom and gloom right there.

I'm conservative financially, but we've had mortgages and we've survived multiple layoffs, dot com bust, 9/11, the collapse of 2008, bad years in business, etc, etc. I'm blessed by a hard working wife that has strong business skills, I owned a dependable business, and good health. We now have zero debt, it feels great! (used to be a big Dave Ramsey fan, although he turned out to be a creep) Most people not only do fine w mtg debt they prosper. Those who have a mtg(s), college loans(theirs or kids), multiple car loans, and pile consumer debt on top of that, well they're reckless. And I've seen many others that take a lot more risks than me and they've actually come out way further ahead financially. Like they say "there is more than one way to skin a cat."

cptqueeg wrote:

"most will be completely wiped out" - That is some doom and gloom right there.

I'm conservative financially, but we've had mortgages and we've survived multiple layoffs, dot com bust, 9/11, the collapse of 2008, bad years in business, etc, etc. I'm blessed by a hard working wife that has strong business skills, I owned a dependable business, and good health. We now have zero debt, it feels great! (used to be a big Dave Ramsey fan, although he turned out to be a creep) Most people not only do fine w mtg debt they prosper. Those who have a mtg(s), college loans(theirs or kids), multiple car loans, and pile consumer debt on top of that, well they're reckless. And I've seen many others that take a lot more risks than me and they've actually come out way further ahead financially. Like they say "there is more than one way to skin a cat."

cptqueeg wrote:



Perhaps using the the phrases "zero debt" and "For somebody like me who purchases things in cash" would give one the impression that mortgage debt was included.

As for now people have mtg rates that are very cheap and they have jobs so as long as they stay on the treadmill it will work out. There isn't sufficient housing anywhere so that market is very stable.(read today there are only 2 places in the US with 10% or more of the housing stock under 150K)

Some will have health issues, and/or astronomical medical bills or lose their job, or gad forbid lose their partner but by in large most will get through it.