I remember selling our house about 2 1/2 years ago: In our first meeting with the realtor, he asked us if we had heard about the "turn" in the housing market. We hadn't. Homes had been snatched up within hours of being put on the market the summer before. It took us 63 days to sell ours, but we did. Got what we thought to be a good deal on the house we bought too---$19,000 under appraised value. Not that the resale value mattered much to me because I never saw myself leaving here.
Fast forward to this fall, and friends of mine started to lose their jobs and/or take voluntary lay-offs and pay cuts. Other friends were scrambling to find second jobs doing things they never would have normally (pretty hard to get hired on as a pizza delivery man right now because of all those second job guys). Still others started to feel a definite, sustained slump in the businesses they owned. Lots of shops in my neighborhood--coffee shops, cafes, and cell phone dealers mostly--went out of business. Bigger ones too---car dealerships, Mervyns, Circuit City. The tension in our area grew as a few of the major employers talked about moving more and more of their work overseas. So, so many of my friends trying to get out of their homes right now---trying to get a fresh start somewhere else, trying to pay off debt----and unable to.
And then the foreclosures started.
Do you know every time one happens within a few miles of you--it effects your home price? Do you know that my city--and maybe yours-- currently has a 7 year supply of homes on the market? Do you know you can pick up a million dollar home around here at auction for about $475,000?
Finally it came full circle---
Some of us may or may not like the option of moving on at some point, and may have found out that not only can they not make any money on their home, they can only get back maybe HALF of the hard-earned money they put down in the first place?
Is it just me, or does there not seem to be this aura of fear just hovering over our country right now? Personally, I am in love with my budget and working it like nobody's business. I don't like the feeling of my money getting away from me. But little things come up, and add up, that eat away at my savings----tuition, microwave repairmen, plumbers, mice exterminators.... I try not to personally contribute to the **scary vibe** going around, but I do hate the feeling of wondering how long? How long till things turn for the better? How long can I hold on providing for my boys and their future expenses? If this economy does turn into the next Great Depression, am I ready to weather the storm eating bacon lard sandwiches the way my grandparents did?
Bluck.
--I don't like it.--
Everything about it. Including the thought of bacon lard between slices of bread.
I like to joke that I'm just a typical woman....always finding something to worry about. But do any of you worry too? Has this financial situation moved just a little too close to home for your liking?
If you are struggling like me, I find myself taking a lot of comfort in the second verse of Abide with Me!. Maybe it will help you a little today too:
Swift to its close ebbs out life's little day.
Earth's joys grow dim;
it's glories pass away.
Change and decay in all around I see;
O thou who changest not,
abide with me.
~Wishing you all Peace. Patience. Inspiration. Ability.~
38 comments:
I worry about it too, there are so many people out there losing there jobs and houses (I'm one of those who call themselves laid-off but it doesn't sting so bad because I was only at the job for a little over a month before I got the boot)... But our grandparents got through it, I think we can too... Blessings to you Jennifer P.!
I honestly thought we would always have job security, both of us are teachers, but things are so bad in education, too, that teachers are getting cut left and right. Thankfully I think we're both safe for a little while longer...
At the beginning and end of everyday, GOD is in control. Put on the blinders, look up, and don't let worry creep in. It's all about trust that provisions will be made daily, and you are a great witness to that in all that you have endured in the last year...big hugs to you...
I agree with Debbie to an extent. I think the Lord will provide but I do believe that He expects us to do all we can do first. And since we've been told forever to be prepared for times like these I think it should come as no surprise to us. But dang it...it still smarts a little! Also, like my doctor likes to tell me about the onset of a bad cold...it will get worse--much worse--before it gets better. I think we need to be ready to dig in and make camp for awhile and prepare ourselves for that which is to come.
I think a person would be crazy not to worry about it, at least in a proactive way such as yours - budgeting, spending carefully.
But then, there are always those who it really doesn't affect at all. Those who continue spending at break-neck speed. I myself marvel at all of the people I know who continue to travel to exotic destinations every year. I don't know what we're doing wrong, but I don't know if we will ever be able to spend like that. College is looming for my fourteen year-old in a few years, and anything extra we can save will go to preparing for that.
I feel blessed to have what we do, but know that things can change at any moment. We all need to have a new awareness of our finances...
It definitely is scary. Foreclosure practice is booming, and it's a little sad to know that one person's downfall is what feeds my family, but it is what it is.
And I agree with the first commenter that GOD is in control. Recessions are almost 100% media-driven, and the problem is people are believing it and not spending, which causes business to fail. Employees lose their jobs and then the foreclosures begin.
You just can't let this be your mindset. You have to push on like nothing ever happened.
Let go and let GOD.
I think a lot of people are very nervous and if they aren't in trouble yet, they are taking steps so they don't get there.
I feel blessed to have been weathering this storm fairly well so far but I have watched approximately 10 homes in my small somewhat upscale neighborhood go through foreclosure and sell for a fraction of what we bought ours for. Ours still appraises for more than we bought it for but what good does that do when the $700,000 homes are going for $300,000. It is depressing and I find myself panicking almost daily and wondering when it will be me struggling to put food on the table (if you've watched Zach eat you know that is a BIG concern).
I'm thankful that when we were trying to sell our home it wasn't because we had to, but because we wanted to. It made it easier to take it off the market when the prices tanked and be thankful for what we have.
I definitely am thankful that my husband still has a job and the product he works on for his company is a moneymaker not a moneypit (should I knock on wood at this point??).
I have faith that God is in control and cares about my smallest needs, but it is easy to forget that when you see chaos all around you.
In our small town paper there are 3 and 4 pages of foreclosures. That is HUGE. And we have seen people we know listed.
There is no where to go to escape as it is everywhere. I pray that my husbands business will sustain us this year. But, in actuality, God will sustain us!
Lisa Q
that is my favorite hymn----has been for years and it is a greats comfort to me as well.
we are struggling like no one's business (not that we're alone or antyhing....) my husband has a great job that does not pay enough to cover our expenses. he continues to work at target with whatever hours they give him---which is on the weekends...and usually only a total of under 15 hours a week. PLUS he donates his plasma twice a week so that we can get needed items that (yes---oh so thankful) we cannot get at the bishop's storehouse....i am one truly grateful woman that is thankful for a wise Father in Heaven that instigated the welfare program during the LAST depression. it is a true blessing in our lives---and extrememly humbling. :)
we're just trying to pay our bills and not get into debt. i refuse to use a credit card. (we're already trying to get out of that hole---no need to dig deeper)
i pray every day in thankfulness for the blessings in our lives and pray that we might be worthy to continue to receive them....
possibly a little TMI for you---but you asked :)
i guess that i should be counting my blessings that we don't own a home right now, eh?
Times like these I GUESS I'm glad we live in a dinky house with a smallish mortgage and that the company my husband works for is still doing well.
My Grandpa ate peanut butter and jelly all through the Depression and had only eaton one since--the one my dad made him because he didn't know better. My Grandpa's such a nice man--he ate it and then politely asked my dad not to make it again.
I'm still not sure why he didn't make his own lunch, but whatever. So, hopefully none of you have peanut allergies and can eat that instead of bacon lard. But apparently with the recent scare, we should all start growing our own peanuts.
These are scary times. I feel like I'm tempting something by saying that it hasn't affected us or anyone we know - yet. We live in an area of the country that seems to be in a little bubble. There have been a few layoffs in bigger companies, but nothing major. And there are still tons of "little" jobs openings. I do feel like I'm waiting, though. I read the news, I know other people are really hurting, and it all feels surreal. I heard someone say that it will start to turn around later this year. I have since felt like I was holding my breath for that. I don't think our generation could handle another Great Depression. We're not tough enough.
But, all that said, I do believe God is in control. He will keep His people. I love the hymn you quoted. Great reminder.
I didn't read everyone's comments here. Out of time. And this is going to sound very dreary and bummer, but I don't think we are going to see life as it was ever again. Well not until Christ comes again. But with that in mind, I think personally I am making better decisions which will result in more security and peace.
You are right, it's hovering. Right now, just out of reach, but I feel that at any moment it could come crashing down on us. And it scares the living crap out of me.
I saw a sign recently that said, "Preventing Going Out of Business Sale!" Kudos to that company. Yes times are hard for many and will most likely get worse before they get better. I believe there was 30% unemployment during the 'Great Depression' - we're pretty far from that.
I DO agree with Debbie... God is the one in control with this... all of this. If the recession turns to depression, then He knows of it and it is still part of his Master plan. Those who TRUELY trust in Him have no need to fear.
I think it is normal to worry...I never thought I would need to do things like :: make my own dish washer det. or make my own laundry det. or eat the leftovers for several days because we can not afford to throw it out...but I am thankful that I know how to do these things and that my husband is still working.
I believe we are just returning to a time where we can no longer live above our means...we say it all the time "make every penny count"... now we are!
I'm worried too. I'm okay with the occasional up/down cycle, but this one seems like it's here to stay. Just read this morning that the stimulus package is not a miracle (kinda wish it was!) and that we are looking at seven years before things look up. We just don't have that sort of time.....
Luckily we're not too affected. As long as the parent's of the kids I work for stay emplyed than I stay employed...and most of their jobs SEEM pretty secure.
I am apalled at what is going on around me though. People losing their homes, businesses shutting down, friends claiming bankruptcy...it's really scary. Especially scary because I know that I could easily be in the same situation.
We just have to wait...
Luckily we're not too affected. As long as the parent's of the kids I work for stay emplyed than I stay employed...and most of their jobs SEEM pretty secure.
I am apalled at what is going on around me though. People losing their homes, businesses shutting down, friends claiming bankruptcy...it's really scary. Especially scary because I know that I could easily be in the same situation.
We just have to wait...
I blog for the Silicon Valley Mom blogs under their NJ Mom Blog & I just wrote an entry entitled...Ecomonic Stress...all about my worries.
Sigh
It stinks!
You know, when you look around and you see others suffer it is hard to maintain the optimism. How can I be happy when others aren't? I try to trust that downsizing is best for some. I try to trust that losing something material will strengthen something spiritual. I try to trust. Thanks for bring this topic to the forefront of my mind. It isn't something to ignore.
I love Jericho Road. Abe was at Time-Out for Women and Girls last September. Awesome guy! I am lucky enough to be married to an RN, so we haven't felt the recession like most people have, but I see friends suffering and I worry more each day. I think bacon lard sandwiches sound really gross, so if it comes to that, I will share with you, or anyone else really, that needs ANYTHING. (California Dreamin' - just now got that. I need sleep...)
I hear ya! Trying not to complain....or worry. But still, realizing that I'm in the midst of building an EXPENSIVE house, when my husband just took a pay cut, and MANY have no jobs. Should we really be doing this?
I think I should stock up on lard!
I like to be a person that sticks my head in the sand and just waits for it to pass. I don't like to watch the news and I don't always want to know what's going on. But in these past months I have had to put on my big girl pants and get the budget in line. There are things I want, and things I need and I have to know the difference. And yes, a microwave repairman would certainly count as a "need."
I'm just praying that people still will want their teeth straightened :) hee hee! I say this under my breath...here in Oklahoma...things don't seem to be as bad as other states. I'm wondering when it's going to hit...I'm hoping it's AFTER we sell our house! YIKES! I wish you peace, patience, inspiration and ability right back :)
You know those bacon lard sandwiches are a favorite in Austria. They're called Schmartz (I think). Ralf's grandmothers eat them. And they are hardy women. I think they're pretty gross myself.
We are thankful every day for a job and having enough to make ends meet. Anyone who isn't tightening the belt right now probably should be.
I've heard that by the time Christ comes again, things will be so bad that we will be begging for Him to return. I hope that's not true but it's certainly looking possible.
But it's also so important to rely on faith and not on fear and live with joy. Have faith and hope and carry on. :)
Glad to see you back! I always look forward to you posts.
We are unfortunately right in the middle of all this economic mess. We have already lost our home, my husband has lost his job, and I do not make enough to pay everything. I just got off the phone telling the car company to come take my car back. Boy did they try to talk me out of it!
But even though it looks bad, really bad, I know that as long as we support each other in all ways we will make it through this. Sure doesn't feel like it now but I just keep praying. I know God is listening, he's just a little busy right now. :)
Mindy
Oh, that cartoon made my stomach flip-flop.
It's scary times, indeed. But also a chance for God's people to put faith into action...to fully rely in Him, even when it's hardest.
We've noticed lots of businesses closing in the Tucson area as well..It's sad:( I am just trying to stay "in the moment" and trust in the Universe to guide my steps in the right direction for my family. I am trying to stay out of fear. (not an easy thing to do!)
My husband had 3 heart attacks last year and had to drastically change his workload. It's been a scary time, but we just take one day at a time...we have shelter, we have food and we have each other...
I hear you ... there is a general sense of anxiety in the air. And way too many people I know are struggling. We are doing OK for now ... but there is the definite sense of waiting for the other shoe to drop. But I went through some personal financial crises about 8 years ago and learned quite a bit then about how you can live without too much money so I'm not afraid of it. I'll do what it takes but I hope I don't have to face it myself. It is so hard to tell what is going to turn this around in this country.
It is so scary right now. My friend bought a new home over a year ago but has never sold her old home. She is struggling to pay for two homes. She hasn't even been able to rent it out. I hope they don't end up losing both.
I'm fortunate that I don't have to worry about my home for the moment. I left my home when I divorced my first husband and ever since I left him I am a live in at work and do not pay rent. But if I ever lose my job, I am out of a home also.
I honestly pray and hope that things will get better for you and your country! I am also scared for another Great Depression. My dad has been telling me how people are frequently losing jobs where he works and stuff like that. Canada has not been as greatly affected quite yet but we seem to be heading there...
I'll be praying...
God Bless
Lots of Love,
Carla
i worry, but i also hope.
i hope we as a nation have learned from our mistakes. and that maybe grandpa burying his money in a coffee can in the backyard and only paying cash was the smart one after all :)
Yes, I've been worried. This is a scary time right now for a lot of people and it has hit our home as well. It is NOT fun.
It has definitely hit close to home for us. Layoffs, stocks dropping, running out of money and yet somehow not thanks to the Lord. This is quite an experience and yet we are learning SO much. I really appreciate these heart-to-heart posts you are doing!
We're in a tough situation because we're selling our house but it's not because we have to. We just want to move. We have a few bank owned homes in our neighborhood and, yes, it definitely affects our home's price. So we've had to drop the price to compete. I'm trying to stay hopeful, though. God can do big, big things.
Money never leaves my mind....never. I'm a continual worry wart, even before all of this mess happened.
We've always budgeted, but now, our goal is to have 8 months of emergency money saved up to pay for living expenses in case things go sour.
We've only managed to save up 7 months worth of mortgage so far, and that doesn't include utilities or the like, so we'll be pinching for the better part of this year to meet that goal.
Even if we meet that goal, I'm still very nervous, but glad that we're at least trying to prepare for the worst. The hard part is obtaining enough food and water!!! Where to store it all, and how much, and to not waste it once we've bought it.....
It's on my mind a lot, and we're trying to do our part to prepare.
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