07-05-2019, 08:29 AM | #45 | |
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07-05-2019, 09:48 AM | #46 | |
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The NH/Mass area was well on its way to becoming Silicon Valley. Housing prices skyrocketed and new developments of high-end ho,es were being build everywhere. Then Digital went bust overnight, wang tried to get into the desktop market but failed, IBM also had a facility in that area. It was an economic and real-estate bust similar to 2007/2008, but primarily affected the New England area. The FAA, also in Nashua, struck and everyone got fired. That also was a blow to the economy because most of the people who worked there had expensive homes with big mortgages. I lived with a guy there for a while who was renting rooms to try to keep his house. When he got fired from the FAA his wife left him, and he had a house that was way under water. It was a mess. |
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07-05-2019, 10:10 AM | #47 | ||
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07-05-2019, 10:19 AM | #48 |
Retired soccer mom
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Lesson from the past: don’t depend on anything or anyone else to assure your future.
Save money, as much as you can. Invest it wisely and don’t touch it. In the US, an IRA is your first line of defense. Max it out every year! You never know when your job, and everyone else’s, evaporates from your town, region, or the world. Or when your home is suddenly worth half of what it is now. Climate change will affect MANY neighborhoods and parts of the world. Don’t put all your eggs in one basket. Only buy a house because you need one to live in, and buy one that is below your means. The idea is to feel you can still survive if you must walk away from it. Real estate just ain’t what it used to be. For the most part, it is not a reliable long-term investment. A lot of real estate will be worthless in the near future due to flooding rains. They will only get worse. Fair warning. Be smart with your money and your life. |
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