Market Sell Off!!

[highhertel]

I for one am not looking for s repeat of 2006 - 2011. I worked for a company involved in making rough in parts for new home construction. Those were tough years! With that said, 1 in 6 jobs in the U.S. are related to new home construction. Rising interest rates and essentially loss of interest write off (most folks will now take higher standard deduction), housing will slow down dramatically. Sell your house NOW if looking to move.

On another note, one of my online trading buddies has netted over $3 million in gains ytd. He is an options guru, and the volatility in the stock market is a traders dream. $300 in a small SPY put position turned into $50,000 in les then a few hours on one trade. Now I need to go that!

Lots of snow around, time to play. Cheers!

HH

 

[chunk06]

I for one am not looking for s repeat of 2006 - 2011. I worked for a company involved in making rough in parts for new home construction. Those were tough years! With that said, 1 in 6 jobs in the U.S. are related to new home construction. Rising interest rates and essentially loss of interest write off (most folks will now take higher standard deduction), housing will slow down dramatically. Sell your house NOW if looking to move.

On another note, one of my online trading buddies has netted over $3 million in gains ytd. He is an options guru, and the volatility in the stock market is a traders dream. $300 in a small SPY put position turned into $50,000 in les then a few hours on one trade. Now I need to go that!

Lots of snow around, time to play. Cheers!

HH

I don't see the loss of the interest deduction affecting the housing market around here. If you can swing a $750k or over house around here it's not much of a worry. I agree on selling now, especially if you have a house that is considered a starter home. There are going to be a bunch of young folks in trouble at the prices they have been paying for the affordable homes, Of course all these buyers are back to the low or No money down programs on a inflated price house! I know a couple that had a house rented for $750 a month and they went and bought a inflated house with a $1300 payment with no money down and essentially borrowed their closing costs! People just cant wait a few years and save some money.