How are you guys doing?

My family and I have been blessed over the past couple years. Started my own company with a great client base (and still growing) and I do not think they would be affected by a recession. We have been very busy as well to the point of my brother in law working with me on a seasonal basis.

We are living within our means, putting away what we can for the kids college fund, Jeep fund, retirement and house projects fund.

I feel for those affected as being laid off in any economy is difficult. My wife and I have been through a roller coaster of jobs over the past 5 years, being laid off or left due to terrible work environment. Luckily now she can stay home with the kids.
 
Im noticing an increase in food, gas and everyday expenses but not struggling too much. Have a little debt but paying them off. Only thing I wish I had was a house. Now thinking should have bought that first before my Jeep but wasn’t the right timing with prices high and now interest rates. So In the mean time I’m just taking it day by day. Saving where I can and trying to enjoy life.
 
CalSgt said:
Even after recent promotions & pay raises we're feeling more broke now than ever before in our 20+ years together.
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Yea this. I’m definitely grateful to have everything I need, but honestly I’ve advanced quite a bit in my career over the past 8 years and it’s not really keeping pace with inflation.

Brute said:
Every generation goes through a period that presents economic challenges…you figure it out and adjust accordingly. I’ve got no complaints…
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This is wise…
 
Bullwinckle said:
Im noticing an increase in food, gas and everyday expenses but not struggling too much. Have a little debt but paying them off. Only thing I wish I had was a house. Now thinking should have bought that first before my Jeep but wasn’t the right timing with prices high and now interest rates. So In the mean time I’m just taking it day by day. Saving where I can and trying to enjoy life.
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Every market has a cycle…bide your time, the housing market will rebound, interest rates will drop again…they always do
 
Bullwinckle said:
Im noticing an increase in food, gas and everyday expenses but not struggling too much. Have a little debt but paying them off. Only thing I wish I had was a house. Now thinking should have bought that first before my Jeep but wasn’t the right timing with prices high and now interest rates. So In the mean time I’m just taking it day by day. Saving where I can and trying to enjoy life.
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Once interest rates drop home prices will go back up. Buy now if you can and then refi when the rates go back down.
 
OverlanderJK said:
Once interest rates drop home prices will go back up. Buy now if you can and then refi when the rates go back down.
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its all about timing...inventory is low now since most sellers are waiting for more favorable conditions to sell...when the rates drop and more people are interested in selling, more choices for homes and locations will become available...loans will be easier to get, more home choices can mean better competitive offers...but waiting too long in the cycle gives the advantage to the seller...
 
Brute said:
its all about timing...inventory is low now since most sellers are waiting for more favorable conditions to sell...when the rates drop and more people are interested in selling, more choices for homes and locations will become available...loans will be easier to get, more home choices can mean better competitive offers...but waiting too long in the cycle gives the advantage to the seller...
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Inventory being low helps out sellers.
 
Brute said:
I can only speak from my own personal experience, having bought a few residential & commercial properties over the years...and I've done mostly well...
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Do you think prices will drop like it did in 07-09? .... That was crazy. Took me a while to recover from that crap.
 
Brute said:
I don't think so...but predicting the economy is like predicting the weather...
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True... It seems to me the risk is always for the ones looking to flip.... for those that want to buy and plan on staying for a while (5+ years)... you can't lose. Just can't over extend yourself... and low fixed rates are obviously ideal. Always a little easier to qualify for 1st time buyers as well.
 
JAGS said:
Most generations will go through several. 😉 If this is a first for some, learn something from it. The first time is always the hardest. That’s what she said. Lol.
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I remember my parents having double digit mortgages. I remember gas stations running out of gas. My dad remembers watching police forcibly remove his Japanese American neighbors from their homes and locking them up in holding camps. It wasn’t that long ago that young men were forced to go fight and die in a bullshit war with no real plan for success.
TrailHunter said:
Do you think prices will drop like it did in 07-09? .... That was crazy. Took me a while to recover from that crap.
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I don’t. That was caused by a mortgage situation that was unsustainable and largely driven by people buying homes that they could never afford in a normal market. There is no shortage of demand right now and most purchases (at least in the two locations/states in which I live) are still cash purchases. The big change is that the bidding wars seem to have disappeared.
 
Sharkey said:
I remember my parents having double digit mortgages. I remember gas stations running out of gas. My dad remembers watching police forcibly remove his Japanese American neighbors from their homes and locking them up in holding camps. It wasn’t that long ago that young men were forced to go fight and die in a bullshit war with no real plan for success.

I don’t. That was caused by a mortgage situation that was unsustainable and largely driven by people buying homes that they could never afford in a normal market. There is no shortage of demand right now and most purchases (at least in the two locations/states in which I live) are still cash purchases. The big change is that the bidding wars seem to have disappeared.
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Our parents generation was known as “the greatest generation”…they lived through the Great Depression as children, fought in a world war, worked through the worst recession of our time in the mid 70’s (I remember as a teen going through the even/odd license plate gas lines)…they would have compared what we are experiencing now as a piece of cake in comparison…
 
I can't see how a young 20ish year old person even with a 6 figure annual income can afford to purchase a basic starter home near a major city right now with these crazy high prices. Even without a car payment, the cost of a mortgage, taxes, insurance, utilities, food costs, etc. I just see the current situation as unsustainable and I think the soon future will show that.

Too many dicks without enough holes. It's just not sustainable.
 
Well, as some of you know my wife has stage 4 liver cancer. I haven’t worked as much since last year when it was diagnosed, which has taken a toll financially. I’m glad because I have been able to spend a lot of time with her. I don’t look at tomorrow, only today. The future is what we see daily with the ones we love. Nothing else really matters. Luckily we don’t have much debt but the groceries are still stupid high and fuel is crazy still.

I’ve been with FedEx for 25 years and we are so slow that they are currently closing 30 terminals and laying off hundreds of employees, but for FedEx this is just the beginning of it. Much of this isn't reported in the so called ”news”. We are the barometer for the economy. Most people have no clue what’s happening. This is much worse than 2008-9. Even then, it didn’t have near the effect on package/freight. We are headed for some really bad times unfortunately.
 
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