Loading ...Are You Ready For A Real Recession?
In a real recession, what seemed safe and rock-solid melts into air.
We haven’t had a real recession in forty years (1981-82) and so only those who were in the workforce back then have any experience of how far and how fast things we think are solid can unravel. What’s a real recession? In the most basic terms, a real recession is an organic, i.e. unmanipulated by central banks, completion of the credit cycle, also known as the business cycle.
http://charleshughsmith.blogspot.com/2023/05/are-you-ready-for-real-recession.html
Sir Kewl2,
This was the most sobering read for me today.
I still have 10, may be 15 years or working life ahead, but I’m prepared for rainy days/months/years.
But we have millions of Gen Z’ers who have no realization of what the next decade or two could look like.
And what about the retirees whose “income” never planned for this sticky inflation?
While there’s still a debate about whether the recession has started or not, I look around for info from the trenches: I’m in the SVB prime zone.
I just cannot fathom how this CRE situation improves in the next 18 months or so: Milpitas, CA and San Jose, CA links below: all I see is more and more buildings going vacant.
https://www.loopnet.com/search/commercial-real-estate/milpitas-ca/for-lease/?sk=c3880b85e5d83eb80b7451cdb4e11657
https://www.loopnet.com/search/commercial-real-estate/san-jose-ca/for-lease/?sk=f5d6b7a75fcf52425f2412bf7e58f872
GL
By the time this depression is in full swing you might be able to buy a high rise for pennies but you may find that you can’t afford to pay the property taxes and maintain it. The fall in CRE values has barely begun.
Retiree’s on fixed incomes are f****d!