New housing boom = another recession?

[baymule]

Buy extra on consumables, toilet paper, shampoo, toothpaste and so on. Catch sales and stock up. On Black Friday, Walmart ran canning pint jars for $5 a dozen, I got 2. Stock up on jar lids and rings, ziplock bags, things you need for preserving your produce. Sugar, spices, pasta, and other foods that you can package and keep.

 

[milkmansdaughter]

@Britesea, yes, we have had beans that had been stored too long, and were no longer usable. Unfortunately, I couldn't tell you how long they had been stored. They were at the house when my dad died, and honestly could possibly have been there as far back as my grandmother's time. But no amount of soaking softened them, and they wouldn't grow. That being said, I have stored beans without a problem for quite a few years. I agree with you also about banks. I did try to start a savings plan years ago for my kids, but unless you put money in on a regular basis, the accounts eventually COST me money, and I closed every one of them. There is no bank that I know of that gives you any kind of incentive now to really put money in to save and "earn interest." I'm another that just focused on being debt free.
@Chic Rustler, are you paying your mortgage every month? or half every two weeks? Paying every two weeks will cut years off your final bill.
And I agree with @tortoise. There's always going to be something.
I don't worry about a recession. I plan for them. I expect them. When money is good, get all the hours you can, get debt free, and buy those things you will need. Don't spend it all on consumables or new tv's, more clothes, eating out, or whatever. (tv's don't work when there's no power anyway...) I don't stock for years and years ahead. But I don't spend money foolishly either. I think you're on the right track keeping track of the times, and not buying into the hype that it's always going to be this way...

 

[baymule]

I lived in hurricane country all my life. Glad we moved and got to skip hurricane Harvey that put 7 feet of water in my sister's house. She is just now getting it finished up, has a new house downstairs, but that sure is the hard way to get a remodel. Now we live in tornado country, I have a root cellar/shelter on my list. No matter where you live, its' going to be something....

Back to the OP, interest rates are low, real estate prices are high. When interest rates go up, prices will come down, either gently or in a crash. Texas is relatively stable, I've been through this before. In the early 1980's, interest rates on mortgages went as high as 22%! You could get 18% on Certificate of Deposit at the banks. It was crazy. Even with all that going on, Texas didn't take a dive to the bottom of the economy. It was rough, but others had it a lot worse than we did. If you have a variable interest loan, NOW is the time to convert it to a fixed rate. When interest rates go to the stratosphere, people with variable rates are so screwed.

 

[Britesea]

I was particularly struck by the story I read of someone's grandparents who lived through the Great Depression... They had always lived a frugal lifestyle because they were poor; and apparently the only difference the depression had on them was that Grandpa switched to a muzzle loader for hunting because ammunition became so expensive and he could make his own black powder and bullets.

 

[NH Homesteader]

I don't know that much has changed here, the builders are busy and all but the real estate market is still slow in this area. We owe so little on our mortgage and have so few bills I don't think it would affect us anyway. I try to live like we're broke even when we're not. It gives us a little cushion.

 

[Chic Rustler]

It's the length of the note that bothers me. I only had 3 years left on the last house when we sold it. But it was just too small for us anymore.

I have 4 kids. 12 year old girl, 10 year old boy, 8 year old girl, and a 4 year old boy. The wife is totally on board with putting back. We have spent many a evening packing bulk food stuff in Mylar bags. Mainly because it saves us money to buy in bulk. That reminds me, we are out of beans. Gonna need to get a few sacks soon.


I'm so hopeful we can actually produce enough to put back a stash of good tasting food this year. I plan on doing alot more dehydrating next summer as well. All I did last time was one quart bag of okra. That's ALL of okra but still. Not much there in the way of meals.

 

[CrealCritter]

I'm glad to see the economy booming. Plus one on stocking up. 5 gallon food grade buckets with screw lids are great for dry goods storage and also double as a fermenting bucket.

 

[Britesea]

I've been told that dry beans can eventually become so hard during storage that no amount of cooking will soften them up. Does anyone have any experience on this?

 

[Chic Rustler]

We only keep them for about a year before they get eaten. Never had any issues though.

 

[sumi]

That is a wonderful gift, Britesea. It's nice to have that cushion for when the SHTF and you just never know what may happen when. I remember when we had that big storm here a few weeks ago and lost power for 24 hours. Not long after that we lost water for about 3 days. Most of us got caught out unprepared.