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Banks are still as greedy as ever in a market that is no longer really theirs, especially in real estate. They have high mortgage rates, yet CDs are approaching
by mattbgates 4y ago
Banks are still as greedy as ever in a market that is no longer really theirs, especially in real estate. They have high mortgage rates, yet CDs are approaching 5% which I haven't seen since 2004-2005. I remember socking some $5000 into one of those for 10 years when I had just turned 18... at the time it seemed like a good idea and I was collecting about $50 - $60 a month, which was a good ROI of around 144%. Although it definitely sucks, as I wasn't able to touch it for that long.
In 2008, I just learned about stock market and investing right as the market crashed. I sent about $250 a month towards a variety of stocks every month. In 2023, I took out all my money from the stock market, having lost a bit, but still over $100k, and I bought a condo outright with a mountain view across the street from a hospital which has now become popular with travel nurses. Since it doesn't carry a mortgage, I'm able to completely profit from it and make a way better return than if I were to have left my money in the stock market or even put it in a CD again.
For now, it is what it is: https://www.cnn.com/2022/11/07/investing/stock-market-biden/index.html https://www.cnn.com/2022/11/07/investing/stock-market-biden/...
Once there is more confidence / new leadership in our economy, I'll start putting my money back into the stock market. For now, I'm working on obtaining a third property for additional passive income though these interest rates are still insane. My latest quote was around 6% - 7%. Everyone and everything just seems to affect the stock market though it's still got a history of decent returns if you invest in the right places and even more slowly over time, as I had done.
- claytongulick 4y agoIf you can swing it, the 15 year rates aren't terrible, I just closed at 5.3