Stop in for a cup of coffee

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I’m telling you though, now is a BAD time to buy property. Wait it out.

Harvard Business news had an article Tuesday, it’s behind a paid firewall or I’d link it. Anyway, right now, an estimated 22% of American mortgage holding citizens would be at the start of foreclosure IF TRUMP had not signed that first EO putting a pause on evictions and foreclosures. State Governors took it further to include renters from having to pay rent. Now I’m not praising Trump here, Biden has extended that until September 30th.

the problem is, those 22% aren’t just going to suddenly get caught up whenever that finally does expire. There’s going to be another housing market bubble burst here like in 08/09. Banks have already instituted policies to try and avoid it but eventually, they’re gonna want their money. One such policy is suspending the interested from accumulating from March of 2020, until this expires. But the principal is still gonna be due.
Now some people might say “oh, they’ll just pause everything, forgive the late fees and add the missed payments on to the end of the loan, no harm no foul” . Some banks might, but most won’t. Reason being, Banks have to show cash flow in. Just like in 08, they’re not going to take a zero, they’ll foreclose and sell it as what ever they can get out of it, just to get it off their books and not show a bad loan. There’s also laws that congress would have to change to let them modify those loan terms even if they did want to move them to the end and forgive the missed/past due.

in short, this is why getting a loan for a construction of a house is soooo difficult right now. The banks are for seeing a housing value burst in the next 6-9 months. And they have said as much when we’ve tried.
 
I’m telling you though, now is a BAD time to buy property. Wait it out.

Harvard Business news had an article Tuesday, it’s behind a paid firewall or I’d link it. Anyway, right now, an estimated 22% of American mortgage holding citizens would be at the start of foreclosure IF TRUMP had not signed that first EO putting a pause on evictions and foreclosures. State Governors took it further to include renters from having to pay rent. Now I’m not praising Trump here, Biden has extended that until September 30th.

the problem is, those 22% aren’t just going to suddenly get caught up whenever that finally does expire. There’s going to be another housing market bubble burst here like in 08/09. Banks have already instituted policies to try and avoid it but eventually, they’re gonna want their money. One such policy is suspending the interested from accumulating from March of 2020, until this expires. But the principal is still gonna be due.
Now some people might say “oh, they’ll just pause everything, forgive the late fees and add the missed payments on to the end of the loan, no harm no foul” . Some banks might, but most won’t. Reason being, Banks have to show cash flow in. Just like in 08, they’re not going to take a zero, they’ll foreclose and sell it as what ever they can get out of it, just to get it off their books and not show a bad loan. There’s also laws that congress would have to change to let them modify those loan terms even if they did want to move them to the end and forgive the missed/past due.

in short, this is why getting a loan for a construction of a house is soooo difficult right now. The banks are for seeing a housing value burst in the next 6-9 months. And they have said as much when we’ve tried.
Oh forgot to mention, the percentage of folks behind on their mortgages in 2008 at the start of the burst, 10.8 percent. That number hit 23% in March of 2009.....
 
One side welded in. That took too long. Ground it off, almost ready for first layer of filler,fiberglass filler. Better hang door and see how far off i got it.
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Better hang door and see how far off i got it.


If you hang the door to see how far off you had it, you need to take it off again so you got it all the way off... If you already took it off, it was fully off in the first place... You can't get it more off than that....
 
:wtf: The 3rd or 4th thread I have deleted today, parts for sale and wanted in a general forum. Don't people see all the bright colored boxes "for sale" and "wanted"?:BangHead::BangHead::BangHead:
 
If you hang the door to see how far off you had it, you need to take it off again so you got it all the way off... If you already took it off, it was fully off in the first place... You can't get it more off than that....
You said get off!!
 
Job offer follow up..
3 days a week,8.5 hours a day. i accepted.
 
A couple of recent acquisitions. Both 45 Colt's. Lower is a special run of Turnbull 45 Colt Ruger's and the lower is a Standard Manufacturing. Both great shooters.

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Do you Cowboy action shoot? Either of them tuned? I compete with a pair of 45LC. pix are from last match of season this year. Our thumbs were numb! Looks like a great looking pair of pistols you got there, but I may be a bit biased!

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I may mention something political but I don't have a conversation.
 
An actual photograph of my Highway 61 1:18 diecast model placed over a photo of a real building.

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