Dollar Devaluation

[Smitty-48]

come a depression, I would suggest that you will probably not want to be answering to landlords nor banks

so step one is two own your property outright, no mortgage

you should also pick a property where you are happy to live out your days,

someplace you are prepared to hunker down indefinitely

[Zlaxer]

come a depression, I would suggest that you will probably not want to be answering to landlords nor banks

so step one is two own your property outright, no mortgage

you should also pick a property where you are happy to live out your days,

someplace you are prepared to hunker down indefinitely

Or those foreclosed can collectively tell the banks to fuck off and squat in their homes. Banks can afford to police all homes at all times. Fuck’em.

[Smitty-48]

come a depression, I would suggest that you will probably not want to be answering to landlords nor banks

so step one is two own your property outright, no mortgage

you should also pick a property where you are happy to live out your days,

someplace you are prepared to hunker down indefinitely

Or those foreclosed can collectively tell the banks to fuck off and squat in their homes. Banks can afford to police all homes at all times. Fuck’em.

that is only for one class of homeowner

those who cannot afford their mortgage

who also live in a bad location, so can't just sell their house to access the liquidity

those who can afford their mortgages and/or own at desirable locations, will be fine

location, location, location

if you own at a desirable location, you will always be able to a) stay put and/or b) get your money out

[Smitty-48]

I do not actually project a massive correction in real estate

price to earnings the real estate market is at most 25% overvalued

that correcting is not going to put most homeowners underwater, most homeowners will simply ride it out

but furthermore, supply & demand

there is a severe shortage of fully detached homes, there will be plenty of buyers even in a correction

[Smitty-48]

with the money printing in play, what you actually have is called Biflation

otherwise known as the "K-shaped" recovery

certain classes of Americans, those with income, assets & property are doing well and will continue to do well

those without income, assets nor property are doing worse and will continue to do worse

[Smitty-48]

and again, inflation & higher interest rates is actually a good thing

in terms of your losses on equity, you could simply shift to fixed income to offset that

[Smitty-48]

the main thing to stay away from of course is credit card debt

that's where the Fed gives the banks free money at 0%

then the banks turn around and charge the poor 28% interest

a homeowner however need not turn to credit cards

instead you access your liquidity through a low interest line of credit

[Smitty-48]

there are essentially four pillars of debt servicing in America

mortgages, student loans, car loans & credit cards

mortgages is the only appreciating asset

student loans are dubious of course, going to college in of itself doesn't guarantee much these days

automobiles depreciate rapidly, soon as you drive them off the lot

and credit cards is of course usury

[Smitty-48]

now I would actually assert that having a car in America is an essential

you simply cannot shut the hood down taking the bus

these sad single Millenials often cannot find a wife simply because they don't drive

so the investment in an automobile is more intangible than its gross value

net net, it is best to pull up in a tight whip in America