100 basis point here, another 100 basis points there.
Auto and home sales are getting ready to crater. Warp speed Fed, just might start a panic.
My boy just put his house on the market, hoping to cash in... He's right on the bubble, I think...
If he can pull this off, with the extra value in his home right now, he's gonna cut a fat hog.
Quite the story in it... He bought up an acre (on water) just outside of town last year... Undeveloped but all services are at the road. Paid 40k cash for it, which was a steal. The only bet was on the septic system, which just passed as a sand dome system - Not as cheap as it could have been, but doable.
Now... he was set up to do it out-of-pocket... over couple years... Sell his joint when the new one was ready and carry the difference till then. But the market it topping out and starting to swirl... So he needs to sell while he can keep the crazy profit in the house, and he needs to do that right now.
So he's got the septic going in, electric and cable scheduled... bought a fifth wheel camper (w/ 4 bump outs) to live in for a while, and is fixing to ship up an oversized steel garage... Once that is built he will have a place to store his stuff, and he can fold up into that camper for a year or so... And he will either build a house himself, or get one moved onto the place (if one comes along)
But the prize ain't really the fat hog he's cutting on his current place... The prize is that he will very likely be able to pull this off debt and mortgage free.
I can't begin to tell you how proud I am of him right now.
