How far are we from the real economic freak out?

originally posted by: mikell
Real estate dropped a while back but people are still listing high. RV's are dropping fast I expect layoffs in Indiana by the end of the month.

House down the street listed for $399k sold for just over $200k and they let it go in less than a week. People in the know are dumping fast.

2 Weeks to the end of the month and the bottom falling out of lots of things.

I didn’t want to get into a family argument. A family member bought at the absolute peak. He asked me my advice at that time and I said “if it were me I’d wait”. Of course when people ask your advice they really don’t want it they only want confirmation of what they want to do.

So fast forward and now the discussion comes up again and he is now saying he will keep the property because in a decade it will probably go up.

I really wanted to tell him to dump now, take the small profit and wait, but I guess the other 10x I was right (including Covid) wasn’t enough to believe me on anything, so I’m like screw it, some people need to be burnt to learn, and that’s too bad.

a reply to: marg6043

"Some democrats states are all ready calling for the banning for gas powered cars." Too stupid to understand that the so called EV's not only cost more but most towns don't have enough electricity for everybody to power up their EV. And they certainly don't have a clue as to what it costs to create those batteries, windmills, solar panels and that it takes petroleum products to make damn near everything.

I'm not the smartest person in my neck of the woods but I am constantly shocked and amazed how stupid some people are.

a reply to: Ahabstar

Whoa. I had to look up "long pig." I've thought of what would cause people to take that route, and I thought it would have to be very drastic circumstances for someone to do so.
You stated it so casually in your comment. Do you think it would be relatively easy for some people to do that?
That freakin scares me. I've seen it in some apocalyptic movies (The Road and The Day are a couple that come to mind) and it always makes me anxious if our world came to that.