Posted on 05/03/2022 4:41:33 PM PDT by ChicagoConservative27
The people that think the bankers are bluffing on raising interest rates, are going to be disappointed over the next couple of years.
The era of cheap money and malinvestments with that cheap money is coming to an end.
Good riddance, the central bank left the punch bowl “out so long” that the punch evaporated.
I swore to myself after I paid for my first new car, I would never have a car loan again. Still sticking to that many years later. Secret is being happy with something that is not shiny and new.
I have never owned a new car.
Newest one I ever had was a ‘77 Impala...one year old.
Ran a 2000 Park Avenue (bought at 4 years old) to just under 250K. One of the best cars I ever had.
Never thought we’d ever see the day but in 6 more months we will finally be mortgage free
Oh good. Great job!!! You’ll be so happy the day you make the last payment.
They should have started doing this 3 years ago
This will help.
Not.
L
12 months after that then I will also be free. 👍
I heard on the “economic ninja” they’re planing on opening up a 40 year mortgage.
Buy a house at 20 and you can pay on it until you retire.
Part of the freedom is that you will no longer feel trapped in a less-than-desirable job or hostile workplace.
Mortgage free 9 months ago!!
Buy at 20? lol. Save up until your 30’s, overleverage, flip and upgrade every 10 years, get reverse mortgage, pay mortgage until you die, bank gets house, puts back on market for your grandkids as $2million starter home.
Yeah the Park Aves were one of the best cars ever made. Very reliable. The only bad thing is the plastic upper intake manifold on the 3.8 series II. Yet many of those cars were good for 300,000 miles.
I felt the same way that 5 year car loan was the worst, NEVER AGAIN!! Mortgage is paid off car is paid off I am debt free HAPPY!! I will NEVER have debt again having no debt is such a wonderful joy!!!
“Secret is being happy with something that is not shiny and new.”
indeed ... and the other secret is to buy based on reliability and cost of repair ...
“having no debt is such a wonderful joy!!!”
It’s one of the best feelings in the world.
Gentle on the gas for its size...great economy on the midwestern roads at 75-80 mph.
“Mortgage free 9 months ago!!”
I’ve been mortgage free for 10 years on two properties.(One residential the other commercial)
However, if this trend continues with everybody paying off their real estate debt & not carrying a mortgage.
Do you know what the future holds?
From a historical perspective..... Not inflation..... But massive deflationary pressure has been the norm for the last 200 plus years.
Trump 2024 MAGA!!!!
Jack ‘em up.
“Paid off my 15yr fixed at 4.25% a couple of years back. One of the happier days of my life.”
_____________________________
Same here, it was in Dec. 2017, a 15 year mortgage paid in 13 years. Great Christmas present to ourselves. It was also the first of a number of loans we paid off, snowball method. Today all we have is a car payment and once that is paid (end of the year) we will never borrow again.
The long and short of it is while inflation and recession worries me alot, it’s doesn’t worry me as much as it would if we still had a mortgage.
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