Current Events > Stock Market General #41

(+) Yeah! (+)

Zillow crashing hard

Woooooooo

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Thanks for making this. I didn't want the pressure lol

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When are we retiring
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Everyday im just waiting for CRSR to get above $30 so I can sell and move money into a 3x leveraged FAANG ETF :/

Shoulda sold when it was at $40

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I sold the puts I bought on RKT yesterday. Was thinking of holding through earnings (on Thursday) but a 30% profit is good enough for me. The expiration was this Friday and I don't usually have good luck when holding options.

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Cokewave posted...

Everyday im just waiting for CRSR to get above $30 so I can sell and move money into a 3x leveraged FAANG ETF :/

Shoulda sold when it was at $40

Haha same just sitting here at $31 waiting to exit

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tag

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Hope to God Zillow isnt going to drop prices on houses more. Literally just got my keys to my first house literally yesterday lol

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So whens a good time to buy into Zillow?

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Makeveli_lives posted...

Hope to God Zillow isnt going to drop prices on houses more. Literally just got my keys to my first house literally yesterday lol

You got bogged, bro.

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Even if it hurts the market a little (and prob only in areas where they have a lot of homes) there's not gonna be like an 08 crash

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I'm hoping to buy a house in the coming few months so hopefully this is good news for me!

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theAteam posted...

Even if it hurts the market a little (and prob only in areas where they have a lot of homes) there's not gonna be like an 08 crash

No, it's going to be worse.

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1337toothbrush posted...

You got bogged, bro.

Still a supply and demand issue bro. Hopefully they rise enough to not fuck be over completely. I can take a 10-15k loss. Thats like 9 months of rent max. 25-30 would really suck. More then that would be terrible. I bought at 318 lol

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1337toothbrush posted...

No, it's going to be worse.

Literally no one is predicting that. The 08 crash was fueled by unqualified buyers which isnt whats happening right now. And even then Zillow only bought like 10k homes, thats not enough to send every housing market in every state up.

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Any hot buys right?

Makeveli_lives posted...

Literally no one is predicting that. The 08 crash was fueled by unqualified buyers which isnt whats happening right now. And even then Zillow only bought like 10k homes, thats not enough to send every housing market in every state up.

I am. The housing market is literally a house of cards right now. Once supply chain issues are resolved, everyone will wish it was only as bas as '08. Houses appreciating 50-100% is not normal.
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TheChariot posted...

I am. The housing market is literally a house of cards right now. Once supply chain issues are resolved, everyone will wish it was only as bas as '08. Houses appreciating 50-100% is not normal.

There are still zoning laws to consider. Lot sizes and such plus residents fighting tooth and nail to resist apartments and condos being built. There isnt enough space to feed the demand.

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Makeveli_lives posted...

There are still zoning laws to consider. Lot sizes and such plus residents fighting tooth and nail to resist apartments and condos being built. There isnt enough space to feed the demand.

That's what landlords want you to think. The reality is that there are a lot of empty homes.

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Buy high, sell low.

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Makeveli_lives posted...

Hope to God Zillow isnt going to drop prices on houses more. Literally just got my keys to my first house literally yesterday lol

Are you looking to sell and move again?

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Dat_Cracka_Jax posted...

Are you looking to sell and move again?

Yeah this is something I wonder - people seem always concerned about how much their house costs, but unless they're planning on moving within a year or two, does it really matter? The market will always fluctuate

Not asking from a place of hostility, just ignorance. I don't own a home so I don't see the reasoning as to why the cost matters once you own it (again, unless you were in the process or thinking of moving soon). If anything, if the value drops, couldn't you feasibly refinance to lower the monthly payment on the mortgage?

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PatrickMahomes posted...

Yeah this is something I wonder - people seem always concerned about how much their house costs, but unless they're planning on moving within a year or two, does it really matter? The market will always fluctuate

Not asking from a place of hostility, just ignorance. I don't own a home so I don't see the reasoning as to why the cost matters once you own it (again, unless you were in the process or thinking of moving soon). If anything, if the value drops, couldn't you feasibly refinance to lower the monthly payment on the mortgage?

Kinda makes sense why one would care.

I'm still waiting for the market to come down to actually buy a home mind you. With that said, if I had one, I'd be in my feels if I closed at say 300k, but the market says my house is worth say 200k.

PatrickMahomes posted...

Yeah this is something I wonder - people seem always concerned about how much their house costs, but unless they're planning on moving within a year or two, does it really matter? The market will always fluctuate

Not asking from a place of hostility, just ignorance. I don't own a home so I don't see the reasoning as to why the cost matters once you own it (again, unless you were in the process or thinking of moving soon). If anything, if the value drops, couldn't you feasibly refinance to lower the monthly payment on the mortgage?

People get scared when they dump a ton of money into an asset that's supposed to appreciate and then it goes down. Especially in the event they have to move like a job or something.

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theAteam posted...

People get scared when they dump a ton of money into an asset that's supposed to appreciate and then it goes down. Especially in the event they have to move like a job or something.

This, plus the thought that you could've had the same thing but for less money.

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PatrickMahomes posted...

Yeah this is something I wonder - people seem always concerned about how much their house costs, but unless they're planning on moving within a year or two, does it really matter? The market will always fluctuate

Not asking from a place of hostility, just ignorance. I don't own a home so I don't see the reasoning as to why the cost matters once you own it (again, unless you were in the process or thinking of moving soon). If anything, if the value drops, couldn't you feasibly refinance to lower the monthly payment on the mortgage?

I dont get to just drop tens of thousands off the price because the value goes down lol. If it was that easy everybody would do it.
1337toothbrush posted...

This, plus the thought that you could've had the same thing but for less money.

This. A year ago for this much money I could have added a garage or basement. Maybe an extra bedroom and half a bathroom with a little luck.

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PatrickMahomes posted...

Yeah this is something I wonder - people seem always concerned about how much their house costs, but unless they're planning on moving within a year or two, does it really matter? The market will always fluctuate

Not asking from a place of hostility, just ignorance. I don't own a home so I don't see the reasoning as to why the cost matters once you own it (again, unless you were in the process or thinking of moving soon). If anything, if the value drops, couldn't you feasibly refinance to lower the monthly payment on the mortgage?

You can take loans out based on the equity in your house, or refinance it and take out cash.

For example: say my house is bought for 250k at a 5% rate and then Covid happens and rates drop to 2% and the value shoots up to 330k, all just a year later. I can refinance it for $300k and have a check for $50k (-closing costs) dumped in my bank account and my mortgage payment will be cheaper

Then I take that 50k and pay off my car and student loan and with the low mortgage payment I now have an extra several hundred bucks a month that can be invested instead of thrown away on debts

or I can blow it on hookers and drugs

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littlebro07 posted...

You can take loans out based on the equity in your house, or refinance it and take out cash.

For example: say my house is bought for 250k at a 5% rate and then Covid happens and rates drop to 2% and the value shoots up to 330k, all just a year later. I can refinance it for $300k and have a check for $50k (-closing costs) dumped in my bank account and my mortgage payment will be cheaper

Then I take that 50k and pay off my car and student loan and with the low mortgage payment I now have an extra several hundred bucks a month that can be invested instead of thrown away on debts

or I can blow it on hookers and drugs

thanks for the example, this makes sense

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theAteam posted...

PatrickMahomes posted...

Yeah this is something I wonder - people seem always concerned about how much their house costs, but unless they're planning on moving within a year or two, does it really matter? The market will always fluctuate

Not asking from a place of hostility, just ignorance. I don't own a home so I don't see the reasoning as to why the cost matters once you own it (again, unless you were in the process or thinking of moving soon). If anything, if the value drops, couldn't you feasibly refinance to lower the monthly payment on the mortgage?

People get scared when they dump a ton of money into an asset that's supposed to appreciate and then it goes down. Especially in the event they have to move like a job or something.

I hope we get to a place where homes aren't people's main source of wealth (not sure how that would look like though). It creates bad incentives regarding both there being affordable housing and housing that appreciates
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Future_Trunks posted...

any good yolos? @emblem_boy

Tesla calls were the yolo these past 2 weeks. I didn't take advantage of it enough.
Not sure what's happening with gme and AMC right now
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Rivian

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how much have you guys invested in stock and how much have you made?

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emblem boy posted...

Tesla calls were the yolo these past 2 weeks. I didn't take advantage of it enough.
Not sure what's happening with gme and AMC right now

AMC might go to 60s again soon.

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post

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Arcanine2009 posted...

how much have you guys invested in stock and how much have you made?

12k and about +9% so far.
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emblem boy posted...

I hope we get to a place where homes aren't people's main source of wealth (not sure how that would look like though). It creates bad incentives regarding both there being affordable housing and housing that appreciates

Yeah, we moved into our first and only house 8+ years ago and I don't see myself ever having to move so the home values going up only hurts me with property tax going up

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Tag

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Blue_Thunder posted...

12k and about +9% so far.

I see. And when did you start investing in stock?

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Arcanine2009 posted...

I see. And when did you start investing in stock?

Beginning of the year. How about you?
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Blue_Thunder posted...

Beginning of the year. How about you?

I wanna say write when we got shut downs last year. March 2020? I've made a decent amount.

if only I sold Moderna when it was $420 last month

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Arcanine2009 posted...

how much have you guys invested in stock and how much have you made?

Opened a Roth IRA back in July, and a brokerage in August. Principal (I think that's the right word) is $191,987.02 so far, and I've made $8,355.29 in interest for a return of +4.35%. It's been a lot of fun, I wish I'd started earlier rather than always putting it off because I'm dumb and the prospect of learning about it intimidated me.

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Arcanine2009 posted...

I wanna say write when we got shut downs last year. March 2020? I've made a decent amount.

if only I sold Moderna when it was $420 last month

Bruh, I sold MRNA at $70

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https://twitter.com/drgauravchandra/status/1455923489089667079

ENZC to the moon again?

Narrator: ENZC did not go to the moon

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i been stocking a little over a month now and up 11.5%

anyone wanna jump on Uranium UUUU???
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RIP today's gains.

RIP AMC

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the market is ripping hot and there may be no better time to sell my leveraged qqq and small cap dailys. I'm past 100 percent since I started in March 2020 and it may be time to take profit. I'm paralyzed.

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