Dow is Down 900+ points Today 2/24/2020

me32

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This may turn out to be the best time in our lives to purchase a New car.

Say goodbye to Dealer markups and say hello to deep discounts.
Homes wont be far behind. I actually bought my 2008 Gt500 in 2008 when the car market was in the trash. Was the best deal , paid under invoice for the car brand new.
 

jpro

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Homes wont be far behind. I actually bought my 2008 Gt500 in 2008 when the car market was in the trash. Was the best deal , paid under invoice for the car brand new.

Wondering about home purchases. We had planned to purchase this spring and just last week got prequalified for a rate of 3.0%. I have read a couple of articles online from Forbes and other places that say that the housing market may not be affected in the same way that the stock market is. I don’t know how that can be true especially in our city where we are so heavily reliant upon tourism and gaming and travel.


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03Sssnake

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me32

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Wondering about home purchases. We had planned to purchase this spring and just last week got prequalified for a rate of 3.0%. I have read a couple of articles online from Forbes and other places that say that the housing market may not be affected in the same way that the stock market is. I don’t know how that can be true especially in our city where we are so heavily reliant upon tourism and gaming and travel.


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Honestly i dont believe anything thats being said. They said we wont have another market crash and look a 2000 point dump. They really have no idea. If people start to lose jobs you cant pay for your house. It may not be as bad as it was in 2008 but i definitely see house prices comming down in the future. In Ca we hit top of the market like it was in 2005. You can only go up for so long.
 

Weather Man

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Boeing down 50% to 227.17 Yld 3.13%.....but will they support the Div???? Problem is, I think they aren't done bleeding.
 

MG0h3

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Like I said, I would highly recommend treading carefully... I predict it might continue to go down this week. the other concern is that there is a potential for this to liquidate. It's a gamble for sure. Placing money in this is gambling that you think an oil trade truce occurs and oil rebounds before this liquidates or reverse splits.

But with that said, one tweet from Donnie about something positive related to OIL and this will jump up

Liquidate as in dissolve IE shares disappear?

Can they even reverse split a stock like this? It’s not actually tied to a company.


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FIVEHOE

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Liquidate as in dissolve IE shares disappear?

Can they even reverse split a stock like this? It’s not actually tied to a company.


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read the prospectus on it. I believe it had mentioned if it drops over 75% in a day it gets delisted. It came dangerously close to that today. There’s speculation that it could liquidate if prices go too low to the point it’s not worth having in the market. I’m not sure if it’s eligible for reverse split, but that’s what others have speculated, so I assumed it was.

I’m holding my 1k shares but I’m honestly concerned about what’s going to happen with it if barrels of oil hit $25.

If it can survive until OPEC steps in or a trade deal is negotiated, then yes I think it’s going to be a solid hold.
 

MG0h3

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I’ve never played with these but what can screw you is the leverage reset.

These are not buy and hold stocks.

If they get range bound, it will eat your money up.


Why Leveraged ETFs Are Not a Long-Term Bet

You really only want this if it’s going the direction you want.

Example: if it goes down 10% Monday and goes up 10% Tuesday, you’re losing money.


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FIVEHOE

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Just for clarification, when I said "long term", I meant long enough to bounce back. Which in oil's case is typically a few months.

I made out like a bandit on oild today, now just gonna wait and see if oilu rebounds so I can get some of that money back and dump out of it. I'm more so playing that on the hopes/thoughts that they'll come to some kind of agreement with oil in the near future.

It's always a gamble, but thats the price of playing with etfs.
 

Kevins89notch

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Wondering about home purchases. We had planned to purchase this spring and just last week got prequalified for a rate of 3.0%. I have read a couple of articles online from Forbes and other places that say that the housing market may not be affected in the same way that the stock market is. I don’t know how that can be true especially in our city where we are so heavily reliant upon tourism and gaming and travel.

Wish I knew as well. I've been putting off buying for a couple years, so the interest rates are telling me now is the time...or do I wait a couple more months?
 

MG0h3

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Wish I knew as well. I've been putting off buying for a couple years, so the interest rates are telling me now is the time...or do I wait a couple more months?

Most economists will say the right time to buy a house is “now”. Meaning always.

As with anything, there are exceptions.

Take a look at your market and compare rent VS a mortgage. Unless you’re in an overblown market, your mortgage will be close to or less than rent. If that’s the case, you want to buy for sure. Take the mortgage and only look at interest, taxes, insurance and compare that vs rent costs. You can go way deeper and try and calculate appreciation, amortization, etc but that’s the simple method.

Some of the benefits of homeownership (deductions for interest and taxes) were basically deleted with President Trumps tax cuts. Basically your average homeowner doesn’t benefit tax wise anymore than a non home owner would. Major benefit to lower income/non home owners.

First step is getting pre approved with your bank. You don’t need to have a property yet; they’ll walk you through it and tell you how much you can borrow and what your payments will be along with a breakdown of the loan.




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Kevins89notch

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Most economists will say the right time to buy a house is “now”. Meaning always.

Except 2008. ;)

Take a look at your market and compare rent VS a mortgage. Unless you’re in an overblown market, your mortgage will be close to or less than rent. If that’s the case, you want to buy for sure. Take the mortgage and only look at interest, taxes, insurance and compare that vs rent costs. You can go way deeper and try and calculate appreciation, amortization, etc but that’s the simple method.

Well that's where I'm the odd one. I live near a major campus, and rent a room in a house. There's 2 other roommates. My rent is thus cheap, and that's how I've been banking 50% of my income the last couple years. I have no garage though. What I plan to do is buy a 4/3 with a 3 car garage closer to work, and there's multiple large companies near by with 20 something new hires, that really don't want to pay $1,200 for a 1 bedroom apartment, so I figure I'll get 2 roommates at like $600ish, maybe a hair more. 300K house, 20% down, comes out to like $1,500 with insurance, property tax and HOA. Call it 2Kish with utilities, I'm only out $800, and I should be able to pay it off within a couple years if I wanted....but it makes sense to use my money elsewhere.

First step is getting pre approved with your bank. You don’t need to have a property yet; they’ll walk you through it and tell you how much you can borrow and what your payments will be along with a breakdown of the loan.

I'll be fine there. It's finding a 3 car garage near work. That's like 1/15th of the houses for sale.
 

FIVEHOE

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How trustworthy is China though? I wouldn't be surprised if they inflated their stock market's values in a ruse to make everything seem ok.

This lol, China has already covered up so much shit, I really am not inclined to believe anything they're saying at this time.

It hasn't even fully hit the US yet. Just wait, the fun is only getting started.... especially once 1st quarter reports go public.
 

98 svt

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Did you guys actually read the article? Or just the headline?
(A serious question, not being a dick :D )
 

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