EEEWWWW... anyone else watch the stock market lately?

[BIGBICEPS]

Thanks for the info... that's another good possibility. The market in our area has died. Three of the top carpet manufactures in the world are located in this town, and they are hurting. Laying off people and those who are out of work are moving out of the area to find jobs. Turning a slow housing market into a dead one.

I got divorced in 2001 and we had to sell our brand new home. We lost money on it because of 9/11 and the mess it created in the economy. I'd rather hold on to this house than to lose again. I just haven't had any luck with real estate. I did much better with stock market.

And you always will!

Despite the SPX being down 15% from the high from Oct 9 2007, and the current credit mess with the CDO's, and housing recession which is weighing on the markets , stocks are ALWAYS going to be more efficient than real estate. (assuming a long time horizon, of course)

 

[Sassy]

House for lease

Well, we decided to give leasing a try. Actually I put a "For Sale" by owner sign with another sign attached that says "For Lease". I've had more calls off the "For lease" than the "For Sale". A couple of folks even wanted to come see it, but they have followed up on it. If the person's credit check out, then lease to own might be an option. We'll just see.

Hopefully, something will workout soon. We are coming up on a year now, and paying all the extra bills are really hurting. When we first started renovating our new place, we never dreamed it would take this long to sale either one of our houses. I put the appliances for the kitchen on a credit card thinking at least my house would sale. Grant I got a 0% for 12 months Home Depot card... we are now coming up on a year and I haven't got it any where near being paid off. Lucky, my other credit card offered at balance transfer at 3.99%, so I've transfered the balance over to it.

Still I HATE paying interest on credit cards. Normally, if I don't have the money to pay my card off at the end of the month, then I don't buy it until I can pay it off. Unless it's an emergency like some major, major with my car... house, etc.

For now, I'll have to wait before I can invest any more in the stock market. Kind of sad... I had several stocks picked out that I've been watching trying to decided which ones I wanted to buy.

 

[BIGBICEPS]

Sassy,

you are faaaaaaaaaaaaaar from alone in the credit crunch that has plagued 07, will plague 08, and even 09. Everyone got a 0% card a year ago+ Now, it's coming back to haunt the lender, credit card holder-as they are strapped for cash, and anyone who sold the debt off to investors.

As far as the homes, are you leveraged up as far as you can go? Meaning, if your home is worth $550,000 (current mkt. value), and you owe $670,000, the bank will NOT forclose. Yes, it will ding your credit to be late, and yes, even default. We're far from a housing "bottom," and my advice is to hang in there for now.

Try this:
Call the creditors, and tell them your situation. Work out an arrangement with them ahead of ever becoming late with a payment. You'd be surprised to see what they'll do for you if you ask.

As for the markets, they are "on sale" right now for long term investors.

As for your picks, I would think twice about individual equities right now. We're going to re-test new lows for the next few months, and if you look at it technically, we're probably going to form an inverted head and shoulders. Again...

I'm only trading individual equities with very, very strong signals at the moment. Therefore, buy ETF's and use stops. Take care!

 

[Sassy]

Actually I'm in a lot better shape than most people. That's the only credit card that I owe on. As long as I have my job, I can make that and my house payment. My car is paid off. I'll drive it until the wheel fall off, and then Everlast said we'll just put some more on it.... so I guess I'll have it for a long time. lol

I think I made another good financial move recently. I was sick of what little I have in saving making next to nothing off the bank's money market interest rates. Very sad. I moved it all over to Vanguard's Prime money market fund. I can still wright check off it if I need too, and I can transfer money to my checking when I need too. I'm making a lot more off it than the banks money market.