We know the housing crash is underway. Many of us have sold our homes and are renting. What else should we do?

February 23, 2007

We know the housing crash is underway. Many of us have sold our homes and are renting. What else should we do?

The floor is yours HP'ers.

52 comments:

Metroplexual said...: We know the housing crash is underway. Many of us have sold "our" homes and are renting. What else should we do?

Just grammar policing.; February 23, 2007 7:52 AM
Anonymous said...: Set aside at least a couple of months worth of food and water. Buy a little gold and silver (or a lot). Learn to be more self sufficient. Get a college education or learn a practical / marketable skill. Read the US Constitution. Read it again. Become politically active and start righting this country.

JAFO; February 23, 2007 7:54 AM
Anonymous said...: read this book: Deflation: What Happens When Prices Fall,(Paperback)
by Chris Farrell

I found the implications fascinating.

Namely, "huge debt," but a deflating dollar so it seems that debt is harder to pay off???

Gotta love it!; February 23, 2007 8:05 AM
Anonymous said...: Actually...being in the heart of Los Angeles...with all the people that DEFINITELY either got burned with a toxic loan or went on a spending spree with a refi...

I'm a bit concerned....

for everybody.; February 23, 2007 9:15 AM
Anonymous said...: If you can, move out of dollars into Yen. All US financial institutions are vulnerable. Gold, silver, anything but dollars.; February 23, 2007 11:13 AM
Anonymous said...: Short the homebuilders (again). Their pump and dump fake bounce is over, they can't deny the truth anymore. Just look at Toll Brothers yesterday; February 23, 2007 11:40 AM
tmaioli said...: Short the market.; February 23, 2007 12:22 PM
Anonymous said...: "our" not "are"

SMALL HAT; February 23, 2007 1:25 PM
Mammoth said...: Got Seeds?; February 23, 2007 2:26 PM
FlyingMonkeyWarrior said...: Go ask Richard.; February 23, 2007 2:31 PM
Anonymous said...: Get a Swiss bank account FAST. Invest in gold. Load up on bottled water. Get ammo. First aid kit(s). An emergency radio. And a one way fly anywhere plane ticket to get out of the sh*t when it all goes down. Like head for a non-industrialized society, as they won't care about financial meltdowns.; February 23, 2007 3:15 PM
Anonymous said...: DAMN!!!

Anyone else see all dem ratz running around the KFC/Taco Bell in Greenwich Village?!?!?!?!/

Crap, they were running up to the windows to look at the press outside taking their video.; February 23, 2007 3:19 PM
Anonymous said...: This comment has been removed by a blog administrator.; February 23, 2007 3:50 PM
Anonymous said...: to do:

1 ammo

2 get a bee colony : http://tinyurl.com/2n3g8k

3 cans of tuna and chicken

4 start a backyard garden

5 donate cash to Ron Paul 4 Presw Fund.

6 get a rosary- pray; February 23, 2007 4:11 PM
Anonymous said...: buy precisous metals!

speciifically: lead, and lead in cased in brass...; February 23, 2007 4:19 PM
Anonymous said...: stock up on T.P.; February 23, 2007 4:21 PM
Anonymous said...: Downsize! Cutback on spending!

SAVE SAVE SAVE!

Cut up those credit cards!

Spend within your means!

Rent for a while

Sell your second, third or...whichever home!; February 23, 2007 4:24 PM
Anonymous said...: It is prudent to have food and water on hand even without the risk of the financial system failing. I do not know if other fiat currencies are any safer. If you have a supply of guns, gold, and grits, have a group of people you can work with who are also well prepared, and no debt you will be better off. This will turn out badly no matter who you are - how badly depends on how well prepared you are. Of course, you need a bit of luck too.; February 23, 2007 4:34 PM
Miss Goldbug said...: Jafo said: "Set aside at least a couple of months worth of food and water. Buy a little gold and silver (or a lot). Learn to be more self sufficient. Get a college education or learn a practical / marketable skill. Read the US Constitution. Read it again. Become politically active and start righting this country".

Thank you Jafo. These are great rules to live by.; February 23, 2007 4:37 PM
Miss Goldbug said...: Anon said:"Get a Swiss bank account FAST. Invest in gold. Load up on bottled water. Get ammo. First aid kit(s). An emergency radio. And a one way fly anywhere plane ticket to get out of the sh*t when it all goes down. Like head for a non-industrialized society, as they won't care about financial meltdowns".

Don't forget to have some cash on hand when those ATM's lock-up.; February 23, 2007 4:39 PM
Anonymous said...: spend less than you earn; February 23, 2007 4:41 PM
Miss Goldbug said...: DAMN!!!

Anyone else see all dem ratz running around the KFC/Taco Bell in Greenwich Village?!?!?!?!/

Crap, they were running up to the windows to look at the press outside taking their video.

I just lost my appetite for KFry.; February 23, 2007 4:42 PM
Anonymous said...: I think the solution is for people to accept the fact that they're poor and then once the entire society adapts to the "poor life" then things will settle down appropriately.

Just look at cities like Erie PA, Columbus OH, Buffalo NY. People in those places don't think that they'll be rich anytime soon. They know that America will never be a manufacturing giant again and that the Asia-Pacific rim will be where all the factories are from here forth. So why is it that mainstreamers from Boston to DC, LA to Seattle, Miami and Phoenix, all believe that homeownership will lead them to a posh bourgeous life? Simple... the faux notion that so-called services (i.e. learning MS-Windows installer/updater) and a financial economy are indicative of a rich society. Sorry, but the truth is that when a society solely subsists on financial products, a.k.a. big bank/hedge fund mentality, that it's at the end of its cycle of prosperity. When the next worldwide recession comes, the next set of nations to arise will be from the east since they'll have a mix of manufacturing, services, and finance.; February 23, 2007 4:51 PM
Anonymous said...: WARNING...

THIS FALL, APROXIMATELY 2 TRILLION DOLLARS OF ARMS AND INTEREST ONLY MORTGAGES RESET...

THIS MASSIVE FORECLOSURE WILL RESULT IN...

THE COLLAPSE OF THE BOND MARKET!!

WHEN THE BOND MARKET COLLAPSES, IT TAKES EVERYTHING WITH IT EXCEPT CASH,TREASURY BILL MONEY MARKET FUNDS, GOLD, AND SWISS AND SINGAPORE BONDS.

YOU MAY WANT TO STOCK UP ON EMERGENCY FOOD JUST IN CASE...; February 23, 2007 4:58 PM
Anonymous said...: If you live around a lot of savages (most anywhere in CA, Atlanta, detroit, ect.) It's a good idea to be armed at all times. If it gets to the point of the fed gov cutting of welfare for the criminal mestizos and groids, I'd advise moving out of the hot zones (multi-cult cesspools) asap.; February 23, 2007 5:00 PM
OwenF said...: Buy nickels. Seriously. Put all yr crap paper dollars into boxes of nickels. One $100 box of nickels is today worth $150 in melt value, and that's just going to keep going up.

http://realcent.forumco.com/; February 23, 2007 5:06 PM
Anonymous said...: I'm an attorney in Chicago... and I had the good fortune of being able to sniff this bust out a while ago.

I've been renting for the past year and a half. Many of my friends mocked me initially... but now I'm primed to cash in.

I stay in my rental place a while longer. Then, when the time is right, plunge into the market like a shark. In the long run, eventually, real estate will return... but if you've bought in the past two years, you're screwed.; February 23, 2007 5:07 PM
Anonymous said...: I live debt free, property paid for, out in the country 28 miles from nearest small town; large garden, much wildlife, good water, firewood, lots of ammo, year's worth of food stocked up, cash, survival know-how. But something's missing. Oh yea, a female companion. Damn.; February 23, 2007 6:44 PM
Anonymous said...: could not get into the britney thread, just look a what shes gotta do for a pair of underpants now a days, and put an end to the pussy show that id not gotten to see yet, damn!; February 23, 2007 7:17 PM
Anonymous said...: BUY GOLD AND SILVER EGLES; February 23, 2007 7:30 PM
Anonymous said...: Silver @ 14.5

Gold @ 683

They seem to be going up in parallel for the past few days.; February 23, 2007 7:39 PM
Anonymous said...: Love the ammo, food, water, metals, cash strategy, but one thing keeps haunting me...

Didn't the government come in after Katrina and confiscate all the firearms from people who were at their homes trying to protect their own stuff?

So all the planning & stocking can (and may have already been) rendered useless by a simple decree that the "authorities" should take away your provisions and protections.

Thoughts on this, please?; February 23, 2007 8:13 PM
Anonymous said...: Do the same thing we should all be doing already:

Putting our faith in Jesus and trusting God!

Proverbs 3:5 ->

This stuff's just going to melt away anyhow...
2 Peter 3:10 ->; February 23, 2007 8:14 PM
Anonymous said...: I'm a bit concerned.... for everybody.

As they say in High School Musical, we're all in this together.

I saw a screening of "maxedout" in Minneapolis and I tried to tell the director that the movie didn't really talk about how some people save and some spend and savers need spenders...

I love it when spenders borrow my money!

That's why savers work on turning "weak savers" into strong spenders.

The universal question: is it harder to be a saver or spender?; February 23, 2007 8:21 PM
Anonymous said...: Might not be that stark, guys. Come on! I'm taking a middle of the road approach; prep for the worst, hope for the best?; February 23, 2007 8:55 PM
Anonymous said...: KEEP RENTING; February 23, 2007 9:15 PM
Anonymous said...: there we go again - honica jewinski and his personal animosity towards the mexicans. honica- suck it up! otherwise, you're gonna die of heart attack.; February 23, 2007 9:57 PM
Anonymous said...: Relax, go see Ghost Riders. Get ready for the Red Sox to have a great season. Bookmark the kitco spot gold market web page and watch your gold portfolio skyrocket. Plant some seeds for a great fall harvest.

In short, just enjoy watching the greedy bastards who caused this mess squirm and spin and spin out of control.; February 23, 2007 10:18 PM
Anonymous said...: This comment has been removed by a blog administrator.; February 23, 2007 10:30 PM
Anonymous said...: "I stay in my rental place a while longer. Then, when the time is right, plunge into the market like a shark. In the long run, eventually, real estate will return... but if you've bought in the past two years, you're screwed."

Wait till the same people laugh at you for wanting to buy, and banks refuse to extend you credit even though you're raking it in doing bankruptcies. Wait till Time has a cover entitled "Why We Hate Real Estate". Wait till you see the whites of the housing crash's eyes.; February 23, 2007 10:39 PM
Anonymous said...: "But something's missing. Oh yea, a female companion. Damn."

That's another thing it's smarter to rent than buy.; February 23, 2007 10:41 PM
Anonymous said...: Honica - it might be too much for you to handle, but it's very likely that Christopher Columbus was... gasp... Jewish!!!

http://www.khouse.org/articles/2004/531/

Other than that issue... if anyone is in the country illegally, then they should be handled as such without regard to their nationality.; February 24, 2007 12:20 AM
Anonymous said...: Anonymous said...February 23, 2007 8:13 PM...

Didn't the government come in after Katrina and confiscate all the firearms from people who were at their homes trying to protect their own stuff?

Thoughts on this, please?

yes. they also have laws in effect against hoarding food.

and martial law is now easier to declare:

http://www.iht.com/articles/2007/02/19/opinion/edlaw.php; February 24, 2007 12:50 AM
Miss Goldbug said...: Anon said:"Bookmark the kitco spot gold market web page and watch your gold portfolio skyrocket. Plant some seeds for a great fall harvest".

Indeed. Gold Silver and Oil did very well this week!; February 24, 2007 2:06 AM
buster hyman said...: i love you honica jewinski; February 24, 2007 3:41 AM
Anonymous said...: They will be drinking dog piss out of rusty hub caps, and burning the telephone poles to stay warm...
It's gonna be Y2K all over again!; February 24, 2007 5:51 AM
Anonymous said...: Two months worth of food, water and wine. And some candles and cards/boardgames.

Batteries and flashlight of course.

Like the idea about studying the Constitution. Thanx.; February 24, 2007 7:28 AM
Anonymous said...: Get a dual citizenship, foreign accounts and property, and have a boggle out bag, just like the special forces. I did.; February 24, 2007 9:12 AM
Anonymous said...: 1) Treasuries
If US Gov goes under money won't be much of a concern.

2) Stop using credit, debit, shopping, or club, and discount cards. It is an invasion of your privacy and it is designed to lure you into a debit trap.

3) Get out of Americas #1 sub prime bank, Wells Fargo. They may have your money tied up while discount buying opportunities abound.

4) Keep making hay while the sun is shining. I am still able to save quite well as the market is flush with cash and we have not recessed YET.

5) LIVE, have fun, and enjoy true freedom. Buy a gun, go shoot it. Carry cash in your pocket and buy what you need without giving your vendor a record of spending habits to sell. Buy things of value that don't depreciate and enjoy them.; February 24, 2007 5:24 PM
Anonymous said...: Just for a laugh I'm going to go over to forbes and see they say.; February 24, 2007 8:37 PM
Anonymous said...: Jewnited States, I love you!; February 25, 2007 2:02 AM
Anonymous said...: My lease was expiring so I bought a condo, rather than wait another year.

Per guns, ammo, and survivalists:

There was an off duty police officer who shot two furniture delivery men in P.G. County, MD. He claimed they were home invaders. One of them died. After some days in ICU, the other one lived. He said the guy was upset with one of the rails and started yelling, then started shooting. One does not have the right to shoot burglars as it is not a crime punishable by death, unless the burglars physically attack. This off duty police officer will have a tought time making his case of self defense as the two were carrying furniture he had ordered.

Guns are not always the best solution, go ask the residents of Baghdad.

It was easier to tear apart a nation than to put it back together again.; February 25, 2007 2:20 AM