old school also said to check my notebook when Dow was on the up and up...down 700 as I type this. That makes 1300 loss since Sunday night.

My sister got an email from her mortgage broker last week. Basically saying "don't submit an application for a mtg or refi without 20% down/equity and a 700+ score." She just closed on a new house last year and it was a blanket email to all of their clients. Banks don't want to write "no profit mortgages" at 3-3.5% so by only picking their best applicants they will likely get the best out of their worst returns.


I don't see real estate being viable for a while. Buyer pool just shrunk and I think the qualified buyers that are left are thinking they will wait for a better deal (prices fall with less activity). Cars/trucks will have sales based on the 0% stuff but even then, if you aren't working you don't need/want a new car.


Neighbor leased their kid a new Jeep Wrangler yesterday as a graduation present. I didn't think the deal was a steal, it was ok but kind of like the loss leader deal they used to put in the newspaper to get traffic into the dealership. I've got a 2018 Yukon, I've been looking for a 2020 replacement if the deal is great. I put 33K on my 2018 and I don't love the 2021 body style change so a 2020 would interest me now. I saw a 2021 at a gas station in my exact color and didn't like the grill/sides at all. Truck had MI manufacturer tags on it so I've seen the new model in person.

PSTI ! $9.57 today still moving based on their other products also.I think I will sell on Thursday,

OK

New generation after this will be going back to home ownership if & when this virus ends! Detached homes!

About 7 years ago I bought my place, 15 year mtg, 20% down no points 3.25% Credit consisted of 2 credit cards, first time buyer. never financed a car before so that was on very limited credit. Looking at it that way, not much has changed.

Son in law works for a major tier 1 supplier and they furloughed 54% of the front office today.
Retiring soon and sent in our pre qualification -- over 800 credit rating and 100%+ in fixed funds to cover the cost--got approved in less than 10 minutes.
We plan on sitting back and letting things go down the drain-and leveraging the market.

Hoping the economy tanks? No doubt that you really have your **** together and have worked hard at it your whole life (congrats for that!), but damn!

At what point does a guy buy into "energy"? There are many companies that have been hit hard, but at least some will thrive out of it.

Wow, you ought to be proud.

Not necessarily "hoping" but given the economic data it seems inevitable.
The odds of a "w" shaped recovery are getting higher by the day if you believe the financial news. Mortgage forbearance, consumer loan relief, and the federal unemployment subsidy are currently set to expire in early fall.
The work from home movement stands to take a heavy toll on commercial real estate and related support businesses with estimates that over 1/3 may never return to the conventional office environment. Airlines and hotels may never recover from the loss of business travel.
It will be an interesting election season--and a important one for investors IMHO.