You have people with middle class dual incomes taking out 30 year notes at 50. With no means to make that payment at age 80. So the “forever” home is not forever as they realize they have to downsize. Average retirement savings in the US can’t cover a $2300 payment with taxes and no job.

Folks are refinancing from "historic low" interest rates a few years ago, to this new historic low. Friend of mine at a major Bank says their underwriting department is backlogged at least 2 months i.e. your closing date is 2 or 3 months from when your loan application is completed. Cray-cray.

A5S

The effective burden of a payment will definitely go down amidst the inflation we have coming. Although property taxes on a 600k house have a pretty good chance of being significant and inflation-adjusting.

My friend in the industry who is going gangbusters believes they're doing some of their last refinance business for a decade. Lucky for her she's about to retire.

I got margin called bigly back in early COVID times. It took me six months to dig out of the hole, but I have dug out and a lot more. I hear what you are saying, and trading on margin isnt for the faint of heart, but I stick to my statement that all that exotic spreading/ straddles etc etc etc is a waste of time and limits your profits. dyodd, ymmv, etc etc

America's financial literacy rate is well below where it should be. Today that dual income, middle class couple live in a house only rich people could afford a few years ago. The 30 year mortgage is "tomorrow guy's" problem. Inflation may help them make an exit 15 years from now. The problem they could face is downsizing from a 2.25% mortgage to a 5% mortgage, when they realize retirees cant afford $2,300 + Tax, Ins & HOA.

amen to that one! Financial illiteracy is insanely prevalent in American society. People are more fluent at fantasy fooseball than they are budgeting. It’s most likely all by design. Keep society illiterate so the institutions can exploit it. I graduated with a guy that makes tens of millions selling annuities and underperforming mutual funds. He’s licensed to sell insurance but somehow he has become a local financial expert, Calls himself a financial expert and advisor, goes on local tv and radio, has a podcast etc etc. All that matters is that he calls himself an expert so that people can feel like they’re making the right decision. He’s a prime example of someone who has mastered the art of exploiting the financial illiteracy in our country.

This is the perfect person to ask to produce documented performance on an annualized basis versus the S&P. Watch his eyes glaze over when you do.

I guess the main take away in this entire discussion is, nobody cares about your financial future and well being more than you. I’d say everyone that’s participating in this thread is well ahead of the curve. Cheers!

This is what happens when the government runs the schools.

You can trade cash secured puts in the 401(k)/brokerage link. I forget what the selection was on the paperwork, but you can get it approved.

For those of you that bought mid March/April shares, what was the outcome?...sold, hold, buying more etc?.........save, luv, etc......