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Corona Credit Bubble

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SFLSpotter9210
Valued Contributor
‎03-12-2020 08:48 PM
‎03-12-2020 08:48 PM

Corona Credit Bubble

Well has anyone felt the credit crunch yet? I'm sure it's about to start hitting with CLD loan call backs and loans being denied. 

I was just scrolling through NFCU products and rates. And noticed that their not accepting HELOC or any type of loans against your home. Plus they posted a notice in regards to mortgages being delayed. 

i believe this could be the start of the housing melt down on top of the economy in a deep recession. God I hope I'm wrong. What does everyone else think?

NFCU Flagship 32,500 | Penfed PowerCash 8,750 | PENFED GOLD 12,500 | PenFed PL 20,000 | NFCU AMEX Rewards 37,500 | NFCU GoRewards 7,000 | FNBO VISA SIGNATURE 9,400 | Capital One Quicksilver 6,300 | Lowe’s 34,500 | Wells Fargo Propel 19,700 | Barclay Apple1k | Citi Rewards+ 12,100 | Citi Double Cash 14,800 | Citi Simplicity 7,000 | PNC Core VISA 22,500 | USAA AMEX 13,000 | Discover 19,500 | BB&T Rewards 4,500 | BB&T Bright Card 4,500 | GS Apple 6,000 | Chevron 2,500 | Fico 8 Scores EQ=764 | EX=775 | TU=757scores and CL current as of 04/04/24 AAoA years 24 months | AoOA=18yrs
Message 1 of 12
11 REPLIES 11
wasCB14
Super Contributor
‎03-12-2020 09:08 PM
‎03-12-2020 09:08 PM

Re: Corona Credit Bubble

Corporate debt (bad companies with too much leverage) and automotive debt (people spending too much on cars, relative to income) look very bad. I'm not sure how bad mortgage debt is, by comparison.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 2 of 12
Anonymous
Not applicable
‎03-13-2020 05:16 AM
‎03-13-2020 05:16 AM

Re: Corona Credit Bubble

I think we'll start to see housing prices come down significantly in about a month.

 

I'm waiting for the sale and buying my vacation condo in FL.

Message 3 of 12
SFLSpotter9210
Valued Contributor
‎03-13-2020 05:53 AM
‎03-13-2020 05:53 AM

Re: Corona Credit Bubble

Congratulation's on the sale and purchase of your vacation home in Flarida lol that's how the New Yorkers say it. Welcome to Florida the New York State not the sunshine state lol. 

NFCU Flagship 32,500 | Penfed PowerCash 8,750 | PENFED GOLD 12,500 | PenFed PL 20,000 | NFCU AMEX Rewards 37,500 | NFCU GoRewards 7,000 | FNBO VISA SIGNATURE 9,400 | Capital One Quicksilver 6,300 | Lowe’s 34,500 | Wells Fargo Propel 19,700 | Barclay Apple1k | Citi Rewards+ 12,100 | Citi Double Cash 14,800 | Citi Simplicity 7,000 | PNC Core VISA 22,500 | USAA AMEX 13,000 | Discover 19,500 | BB&T Rewards 4,500 | BB&T Bright Card 4,500 | GS Apple 6,000 | Chevron 2,500 | Fico 8 Scores EQ=764 | EX=775 | TU=757scores and CL current as of 04/04/24 AAoA years 24 months | AoOA=18yrs
Message 4 of 12
Anonymous
Not applicable
‎03-13-2020 06:26 AM
‎03-13-2020 06:26 AM

Re: Corona Credit Bubble

@SFLSpotter9210 wrote:

Congratulation's on the sale and purchase of your vacation home in Flarida lol that's how the New Yorkers say it. Welcome to Florida the New York State not the sunshine state lol. 

I'm a Floridian turned New Yorker and most definitely do not say it that way! Hahahaha.

 

I'm a Gulf Coaster . . . we have all of the Midwestern transplants Smiley Wink

Message 5 of 12
SFLSpotter9210
Valued Contributor
‎03-13-2020 11:09 AM
‎03-13-2020 11:09 AM

Re: Corona Credit Bubble

Oh no Floridian turned new yorkin 😳. I'm on the east coast so we see all northeastern transplants. I love the west coast though. 

NFCU Flagship 32,500 | Penfed PowerCash 8,750 | PENFED GOLD 12,500 | PenFed PL 20,000 | NFCU AMEX Rewards 37,500 | NFCU GoRewards 7,000 | FNBO VISA SIGNATURE 9,400 | Capital One Quicksilver 6,300 | Lowe’s 34,500 | Wells Fargo Propel 19,700 | Barclay Apple1k | Citi Rewards+ 12,100 | Citi Double Cash 14,800 | Citi Simplicity 7,000 | PNC Core VISA 22,500 | USAA AMEX 13,000 | Discover 19,500 | BB&T Rewards 4,500 | BB&T Bright Card 4,500 | GS Apple 6,000 | Chevron 2,500 | Fico 8 Scores EQ=764 | EX=775 | TU=757scores and CL current as of 04/04/24 AAoA years 24 months | AoOA=18yrs
Message 6 of 12
Anonymous
Not applicable
‎03-13-2020 12:29 PM
‎03-13-2020 12:29 PM

Re: Corona Credit Bubble

@SFLSpotter9210 wrote:

Oh no Floridian turned new yorkin 😳. I'm on the east coast so we see all northeastern transplants. I love the west coast though. 

All stems from the days of the family road trip. I-95 brought all of the Northeasterners to your neck of the woods for vacations and possible moves, and I-75 took the Midwesterners to the Gulf Coast.

Message 7 of 12
GApeachy
Super Contributor
‎03-13-2020 12:56 PM
‎03-13-2020 12:56 PM

Re: Corona Credit Bubble

@Anonymous wrote:
 I-95 brought all of the Northeasterners to your neck of the woods for vacations and possible moves, and I-75 took the Midwesterners to the Gulf Coast.

My Dad would have the whole family bicycle to the I-95 construction site about 6 miles from our house just to check on the build progress and let us see how road construction was done.  He was so excited cuz driving 2 lane Hwy 17 sucked...and still sux!

" Speed Limit 55, Arrive Alive"   "Double Nickels" .....remember those?

We still like to drive down to the Fla Keys via 95 and then coming back shoot across Alligator Alley to Naples and skirt the Gulf Coast via 75 then hit I-10 back to 95.  We've made great friends from all over the US that way. Plus doing the "Loop" covers all the fun stuff in Florida.  

My Take Home Pay Don't Take Me Home
Message 8 of 12
SFLSpotter9210
Valued Contributor
‎03-13-2020 04:29 PM
‎03-13-2020 04:29 PM

Re: Corona Credit Bubble

I like midwestern people. The beef people lol. 

NFCU Flagship 32,500 | Penfed PowerCash 8,750 | PENFED GOLD 12,500 | PenFed PL 20,000 | NFCU AMEX Rewards 37,500 | NFCU GoRewards 7,000 | FNBO VISA SIGNATURE 9,400 | Capital One Quicksilver 6,300 | Lowe’s 34,500 | Wells Fargo Propel 19,700 | Barclay Apple1k | Citi Rewards+ 12,100 | Citi Double Cash 14,800 | Citi Simplicity 7,000 | PNC Core VISA 22,500 | USAA AMEX 13,000 | Discover 19,500 | BB&T Rewards 4,500 | BB&T Bright Card 4,500 | GS Apple 6,000 | Chevron 2,500 | Fico 8 Scores EQ=764 | EX=775 | TU=757scores and CL current as of 04/04/24 AAoA years 24 months | AoOA=18yrs
Message 9 of 12
Anonymous
Not applicable
‎03-14-2020 07:41 AM
‎03-14-2020 07:41 AM

Re: Corona Credit Bubble

 

@GApeachy wrote:
@Anonymous wrote:
 I-95 brought all of the Northeasterners to your neck of the woods for vacations and possible moves, and I-75 took the Midwesterners to the Gulf Coast.

My Dad would have the whole family bicycle to the I-95 construction site about 6 miles from our house just to check on the build progress and let us see how road construction was done.  He was so excited cuz driving 2 lane Hwy 17 sucked...and still sux!

" Speed Limit 55, Arrive Alive"   "Double Nickels" .....remember those?

We still like to drive down to the Fla Keys via 95 and then coming back shoot across Alligator Alley to Naples and skirt the Gulf Coast via 75 then hit I-10 back to 95.  We've made great friends from all over the US that way. Plus doing the "Loop" covers all the fun stuff in Florida.  

My family is from PA originally (I am still traumatized by 55mph speed limits . . signs of STILL 55 when you entered the state even well into the 2000s)  and it was one of my sisters that moved to FL first. She landed on the East coast, and we were supposed to follow her there, but my parents did the loop and bought a house in Tampa Bay instead. Completely random . . . knew nobody there . . said it just felt right! haha

Message 10 of 12
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