New housing boom = another recession?

[Hinotori]

Don't you just love the ring of fire?

I wouldn't even buy a house in the valleys around here because lahars are a threat even without an eruption.

 

[sumi]

DS would love that, he's obsessed with volcanos, but I think it's quite scary

 

[Hinotori]

Just a reminder that this is what I see everyday looming over us. There are lahar early warning systems in the valleys. Siren tests are a bit loud.

My worry is that it will start bulging like St Helens did. If it does that on our side I'm packing up birds and dogs and leaving. I'll be back to see what's left later

 

[sumi]

That is beautiful, but way too close for comfort!

 

[Britesea]

I still prefer volcanoes and earthquakes to tornadoes, yet I have relatives who live in Tornado Alley and tell me they find that easier to deal with than the threats from the Ring of Fire; either one is preferable to me compared to the constant threat of violence in Big Cities. I guess it's what you grew up with. There is nowhere on earth that is free of the threats of disaster of one sort or another.... which is why we prepare for emergencies!

 

[sumi]

That is true,@Britesea! Even here, where we got lulled into feeling everything is fine, we got caught out by the storm and no electricity for that period. I was talking to a friend in the village here yesterday and she brought it up. Said she could not heat her house or cook anything during that time and she has 3 kids (one 4yo and one I think about 18 months old). The local supermarket saved us all by being able to use back-up electricity and having hot water on tap for everyone that needed it.

 

[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.

 

[Wannabefree]

I'm good actually. I'm putting a ton away this year, food and cash, and while not particularly looking for recession...not going to be too bothered by it if one rears its ugly head. I won't get into the politics aspect, but...just watch.

 

[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.

 

[CrealCritter]

I still prefer volcanoes and earthquakes to tornadoes, yet I have relatives who live in Tornado Alley and tell me they find that easier to deal with than the threats from the Ring of Fire; either one is preferable to me compared to the constant threat of violence in Big Cities. I guess it's what you grew up with. There is nowhere on earth that is free of the threats of disaster of one sort or another.... which is why we prepare for emergencies!

I live in Tornado Alley myself and would rather have it that way honestly. We need to shelter 3 or 4 time a year during spring / summer. I can usually get a good guess on how strong the storm is by the approaching wall or anvil clouds. And when the air turns yellow green it's time to head for shelter like right now.