Americans Are Still Spending Like There’s No Tomorrow

Re:Americans Are Still Spending Like There’s No Tomorrow by basementcat on Monday October 02, 2023 @09:42PM (#37746908)

IANREE (I Am Not a Real Estate Expert) so please take the following with a grain of salt. If you want to buy a house and believe you can afford one (even at an "inflated" price) along with the cost of maintenance, property taxes, assessments, etc. then go ahead and do it. Best case scenario, real estate values continue to rise and you’re glad you made the move. Worst case, there’s a 2008-style crash and you and millions of other voters get government bailouts.

If you’re happy in your current situation, that’s great too!

[ Parent | on HN ]

Re:Americans Are Still Spending Like There’s No Tomorrow by woodruffw on Monday October 02, 2023 @09:46PM (#37746936)

> Worst case, there’s a 2008-style crash and you and millions of other voters get government bailouts.

I don't think individual mortgage holders, as a class, got government bailouts during the GFC. The closest thing I can think of is the Troubled Asset Relief Program which, to my understanding, largely benefited the banks themselves (by allowing them to offload toxic assets). Am I missing something?

[ Parent | on HN ]

Re:Americans Are Still Spending Like There’s No Tomorrow by basementcat on Monday October 02, 2023 @10:35PM (#37747266)

https://en.m.wikipedia.org/wiki/Home_Affordable_Refinance_Pr... https://en.m.wikipedia.org/wiki/Making_Home_Affordable

[ Parent | on HN ]

Re:Americans Are Still Spending Like There’s No Tomorrow by huytersd on Monday October 02, 2023 @09:47PM (#37746939)

No one got government bailouts during the 2008 crash. People had their houses foreclosed on and the big boys got the bailouts, not regular folks. What on earth are you referring to?

[ Parent | on HN ]