WaPo: 7 ways a recession could be good for you
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https://www.washingtonpost.com/business/2022/09/28/recession-seven-silver-lining-strategies/
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Housing prices may finally come down to reasonable levels. Yes, mortgage rates are higher, but the upside of that is that sellers in many markets will have to lower their asking prices so that buyers can qualify for the loans.
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Savings rates are up. At least one bright side of the Federal Reserve raising rates to fight inflation is banks are paying people more to hold their money. My credit union has a special 20-month offer on a certificate that would pay me a 3 percent annual percentage yield.
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I bonds inflation rate might go even higher. The Series I Savings Bond was created as a hedge against inflation. Until the end of October, the bonds are paying 9.62 percent.
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The dollar is king. Although a lot is in flux, if you have plans to travel overseas, your dollar may go a lot further. This week, the British pound fell to an all-time low against the dollar.
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Unemployment is still relatively low. People with jobs and money to spare can spend on luxuries such as a vacation.
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Your used car is worth more. If you’re looking to upgrade to a newer car, and your car is in fairly good condition, you’ll get more for your trade-in.
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Student loan forgiveness is coming. Roosevelt used his executive power to wage war against the economic emergency gripping the United States.
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More details on how grateful you should be at the link.
Oh, about housing being affordable now (see #1).
The national average on a 30-year 80% loan is 6.43%
$320K loan that's $2291 a month.
A year ago. it was 3.08%
$1646 a month.
Same house is going to cost you $7.7K a year more.
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I'd read this steaming pile of shit, except apparently they want me to pay for the privilege.
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