New housing boom = another recession?

[Chic Rustler]

The economy here is absolutely booming. There's more stuff being built than ever. I hate it. More people, higher property taxes etc but what worries me is the last housing boom when bush was president. Not long after we had a problem. In 2010 there wasn't any jobs in Texas at all.


Are you guys concerned? Putting anything back just incase? Seems most are spending as fast as they get it and borrowing more to do it. I'm a little guilty myself. I just signed a 30 year mortgage last year and with all these kids we don't have much to put back.

 

[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.

 

[Britesea]

I busted my butt for several years to get us completely debt-free. It's an amazing feeling, and we have more money to do things with now, because we aren't having to pay big payments and interest. One thing that worries me about having extra set aside is... I don't really trust the banks and the government anymore. Anyone that thinks their money is safe in the bank needs to go back and read their history books. Start with the year 1929.....

 

[baymule]

You have to live somewhere. You paid rent before you bought a house, at least paying a house note means that someday it will be yours. Then you will make payments to a saving account so you can pay the taxes and insurance when due. So don't let making a house note worry you. Unless you were homeless, you still had to pay to live somewhere.

If you are worried about "what comes after the boom" then put back some money each payday, even if it is $20. Put extra groceries in the pantry. You are on the right track with a garden, can and dehydrate all you can, freeze the rest. I got buckets with lids at the Shipley donut shop. I stored rice, beans, wheat, and sugar, sealed in food saver bags. If all else fails, we can eat.

How many kids do you have and what ages? Kids can be expensive, just keeping them fed and clothed can run into money. Here again, you are doing the right thing in raising food for your family. Is your wife on board with you on putting some back for a bust economy?

 

[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.

 

[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.

 

[Chic Rustler]

We got alotnof jars that day too. 4 cases I believe

 

[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.