Money

Credit is starting to sour. Another of many signs 2019 could be the year of the next recession.

Citibank / Finance$$>RSU
5d

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  • HPE Bvth
    Not a good sign. Each day there seems to be more indicators of a recession in the equity and housing markets :(
    5d4
  • Mphasis / ProjectWaitbutY?
    If you’ve money saved up this could be the opportunity to finally buy a single family home in Cupertino or Sunnyvale and such.

    If you already own a home, don’t panic - stick with and make payments. Recession come and go, but the survivors are those who follow a discipline.

    As long as your mortgage is lesser than or equal to rent for a comparable home, any reduction in property valuation is only a notional loss as you aren’t selling it, and you always need a place to stay
    5d6
    • Citibank / Finance$$>RSU
      OP
      True for homeowner but your assuming TC and unemployment rates will remain stable. Highly unlikely in a recession. Tech in particular is bubbly and prime for major cutbacks.
      5d
    • New DuQvV7x
      *you’re
      5d
    • Citibank / Finance$$>RSU
      OP
      How are you a “builder”. Shouldn’t you be on a site chewing/spitting tobacco or something.
      5d
    • Mphasis / ProjectWaitbutY?
      You are right Citibank and that’s why I always take TC quoted on Blind with a pinch of salt. Cash component trumps everything. Home buyers budget should be decided by actual salary and not ‘TC’.
      5d
    • Citibank / Finance$$>RSU
      OP
      Couldn’t agree more. Unfortunately many banks (mine included) decided to use RSUs as Income for qualifying purposes. Stupid.
      5d
    • Airbnb jim.hodlen
      good thing my stock isn’t liquid😂
      5d
  • Airbnb jim.hodlen
    why aren’t people paying their credit card? shouldn’t you only buy things you can afford /s
    5d3
    • Mphasis / ProjectWaitbutY?
      That’s the biggest problem - ppl buy way more than they can afford thinking they can keep delaying paying and only make do with minimum payment required. Credit card companies don’t like ppl who pay in full every billing cycle.
      5d
    • Airbnb jim.hodlen
      they still make money off transactions though
      5d
    • Mphasis / ProjectWaitbutY?
      But as end consumer I’m not charged unless the merchant is charging his 2% commission to me. Often merchants upfront tell customers that they’ll give a 2% discount for debit or cash transaction (their way of avoiding to pay commission to credit card processing)
      5d
  • New 0hedge
    Got 4 trillion of QE to unwind.....at the current pace it would take 30 years.
    5d7
  • New monomo
    Never trust the bullshit from business insider
    5d0
  • Amazon / MgmtKYuG83
    Millenials are about to get killed again
    5d4
    • Citibank / Finance$$>RSU
      OP
      Only millennials? How so?
      5d
    • Oath / Engfat
      I think you mean boomers and their retirement money
      5d
    • Citibank / Finance$$>RSU
      OP
      Recessions are one of the few things that don’t discriminate in the US
      5d
    • New 0hedge
      Government pensioners are recession proof. And also billionares.
      4d
  • Cisco randynash
    Cmon man. This ain't nothing yet. Our systems can handle plenty of delinquencies.

    This rate of delinquency is nothing. Until we start seeing real major defaults by funds and real month over month brutal layoffs, nothing is going to happen.

    Asset values might drop but who cares (except over leveraged folks)
    5d1
    • New 0hedge
      You know our credit system failed big time right?

      Fed swept ptivate corporate failures under the QE rug..basically rolled over into state obligations..next domino will be natiin states failing....then only global institutions like world bank, imf, BIS can save us....then WW3 to reset the world order.
      4d
  • Microsoft rLLA40
    Source?
    5d1
    • Citibank / Finance$$>RSU
      OP
      Added.
      5d
  • Facebook public2
    Yay
    5d0

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