But you probably already know how bad things are.
What are you doing differently now than you were, say, a year ago? Are there ways you’ve cut back that you hadn’t expected?
VP Biden says the recession is worse than originally thought
July 5, 2009 · 13 Comments
Categories: Economy
13 responses so far ↓
Vegas710 // July 5, 2009 at 10:44 pm |
We’re getting hit in the housing market. We bought a teeny, tiny house about 6 years ago, right before we had our first baby. Now we have three and 782 sq ft ain’t cuttin’ it! But the value has gone way down and we probably won’t even break even.
datingjesus // July 5, 2009 at 10:55 pm |
That’s raggedy. Are you actively looking? The housing market here in Connecticut is deflated, but of course that means that if you’re selling a house to buy another house, you’re not turning the fat profit you might have expected — or, rather, that I expected. In all my years of home ownership, I’ve managed to buy in a seller’s market, and sell in a buyer’s one. I’m a financial genius.
Vegas710 // July 5, 2009 at 11:02 pm
We are now. Our realtor says if he can help us break even it is very much worth it to be able to buy right now. He is willing to take half his commission but I really hope it doesn’t come to that. We will move even if we don’t break even just to get out of here. We hope to get our house listed this week.
Cynical Susan // July 5, 2009 at 10:58 pm |
My one house so far was bought in a buyer’s market. It was only several years later that I realized that’s what happened — otherwise I’d never have been able to afford what I bought. We’ll see what happens if there’s a next time….
datingjesus // July 6, 2009 at 6:17 am |
I intend to continue my pathetic, economy-wrecking march to the sea.
Carol // July 5, 2009 at 11:41 pm |
I’m buying locally and from individuals as much as possible. If I see locally made or grown items in the grocery store, I purchase those.
datingjesus // July 6, 2009 at 6:12 am |
I started doing that, myself. Do you find that local food just tastes better? I don’t know if it actually tastes better, or if I’m feeling all holy about myself.
datingjesus // July 6, 2009 at 6:15 am |
Wll, good luck to you, Vegas. We are under contract with our own palatial mansion and are out there looking and it’s a mixed bag, truly. You just might find people like us who are looking to downsize, or new home buyers who want to get their toe in. You just never know.
leftover // July 6, 2009 at 6:57 am |
Be sure to check the foreclosures. You can get good deals. RE agents rarely show foreclosures but most banks, (out here anyway) will provide a list. Newspapers usually publish notices.
datingjesus // July 6, 2009 at 8:04 am |
That’s good advice, actually, though I’m squeamish about doing that and I don’t know why.
leftover // July 6, 2009 at 8:15 am |
…probably because it’s not the usual setup.
Foreclosure carries an image of families being forced from their homes. These days there’s “creative foreclosures” and Bank repos and investments gone bad, all sorts of situations that don’t carry such bad connotations. A fair settlement in foreclosure can even aid financially strapped families get back on their feet.
And participating in a foreclosure settlement can earn you points with a friendly bank.
RE agents don’t much like it though, at least out here. Less profit with the same expense in time and paperwork.
datingjesus // July 6, 2009 at 9:38 am |
No, it’s the same here. Our local paper just announced it would be running lists of foreclosures. In the past, you had to go to town hall, etc., which felt even more ghoulish to me. Or something. Vampire-ish, maybe?
leftover // July 6, 2009 at 9:39 am |
…vultures circling, perhaps?