Current issues with the market - Any ideas on avoiding the end?

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Welp I just got a fascinating letter. My lender is offering a refinance already. After 1 year because my homes value shot up 20%. Pwetty Pwease agree to pay market rate on your mortgage payment, and we'll give you the 20% appreciation in cash!

Yikes. I could do alot with that money....but it would also mean giving up my sexy 2.58% fixed mortgage for whatever its at now lol. At the same time though, if housing values tank I may feel pretty silly not taking em up on it. It would literally wipe out all of my debts with tens of thousands left over.
 
Not to get weirdly metaphysical, but I had a dream last night where someone said "The gift of the black pig is this" and then someone showed me the market crashing.
🤔 What could it mean?
 

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mindlessobserver said:
Yikes. I could do alot with that money....but it would also mean giving up my sexy 2.58% fixed mortgage for whatever its at now lol. At the same time though, if housing values tank I may feel pretty silly not taking em up on it. It would literally wipe out all of my debts with tens of thousands left over.
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That’s interesting— they’ve done the math to make that make sense over the long run. Banks aren’t going to make an offer like that to lose money on it.

Idk what housing market you’re in but I am doubtful that prices fall by too much over the medium term. Supply/demand is still quite out of balance and higher interest rates are driving new housing builds lower.

Anyway, totally unsolicited advice here. Do the math over the long term a few times and get a sense of how the bank is trying to fuck you.
 
RussianParasite said:
That’s interesting— they’ve done the math to make that make sense over the long run. Banks aren’t going to make an offer like that to lose money on it.

Idk what housing market you’re in but I am doubtful that prices fall by too much over the medium term. Supply/demand is still quite out of balance and higher interest rates are driving new housing builds lower.

Anyway, totally unsolicited advice here. Do the math over the long term a few times and get a sense of how the bank is trying to fuck you.
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It's a rural belt around a rapidly growing urban core. Also 10 minutes from an interstate on ramp. I bet the bank thinks the land is going to be worth alot more in 30 years. I think so too lol. Thinking on it, I feel it would be a suckers bargain as it would add hundreds of dollars to my monthly payment. It would give me some cash now but the bank would get it all back and then some.
 
mindlessobserver said:
It would give me some cash now but the bank would get it all back and then some.
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Yup, that would very likely be the case. They know many people (especially those bad with money) will take a “large” some of cash now rather than an a much larger sum later— even when considering the time value of money. It’s similar to why people who can’t pay off their entire credit cards end up funding my hotel stays and travel when I use my points.
 
wtfNeedSignUp said:
Question, if the USA prints billions of dollars that are then funneled into a crypto scam and is then shoah'd out of existence when the scam is discovered, does that reduce the problem of inflation?
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Depends on whether the scammer uses the dollars to bathe in scrooge mcduck style, or to actually intend on spending your dollars.
 
Wood said:
Should I FOMO or nah? I already did. Seems everything is going to moon now that the fed started slowing down.
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I'd FOMO into assets right now. I rebought a whole bunch of Crypto after the FTX meltdown and I am loving the green lines.

Long term though I literally have no idea. This entire economy is fucked. I think right now it's running on borrowed time. Corporations are using the tail end of their debt lines. Consumers are using the last of their savings. A pound of steak costs 15 dollars and a dozen eggs costs six. The 50 Dollar bill is replacing the 20 dollar bill for purchases.

Asset prices are spiking and I see the event horizon. I have no idea what is on the other side. All I know is that on the two year anniversary of this thread I own land, precious metals, crypto, guns and a dog.
 
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