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Hi Christopher,
thanks for your reply. seems like maybe there’s some miscommunication. i wasn’t replying to Jack’s follow up to Nicole in his recent show. in fact, i didn’t listen to Jack’s follow up.
my interest is in what Nicole says about how to prepare for the deflationary times. i found Jack’s show by the link on The Automatic Earth.
I don’t remember Nicole explaining specifics about having cash on hand. like, a rough idea of how much and where to keep it (certainly not in a bank). i don’t expect her to give specifics since everyone’s situation is different. maybe she’s already explained this in prior presentations and I’ve just forgotten.
and i understand what Nicole says about why carrying a mortgage can be bad, especially in these and future times. i don’t have a mortgage and would not take one on for the reasons she has explained in several of her recent presentations. however, I’d never judge someone else for carrying a mortgage.
it sounds like you’ve found having a mortgage is appropriate in your situation, especially given the things you’ve done to enhance your resiliency.
But i am wondering if an option to renting for some people would be to invest in a travel trailer to live in. that would mean no mortgage, allowing people to move around but still have their own place rather than renting. i know this wouldn’t work for everyone. If Nicole thinks this is a bad idea, I’d be interested in understanding her reasons. I’ve been learning a lot from her and value her expertise. but I’ve never found a way to ask her questions directly and doubt she can answer a specific reader or listener’s questions. hence i wondered if her other readers might be able to give input.
truly, it doesn’t matter to me if Jack adopts Nicole’s ideas and that wasn’t why i wrote my 1st posting. like most people, Jack sounded very committed to his own point of view during that presentation. I’m not sure how my 1st posting gave the impression that i want him to adopt Nicole’s point of view or vice versa. but I’m hoping this 2nd posting clarifies what i was trying to say. Thanks.This is my first time posting on TAE. I’ve listened to many of Nicole’s recording, as well as read every post of hers i could find. And I’ve found i need to listen or reread her stuff about 3 times for it to really sink in. Plus, i learn much from the postings by her other readers and listeners.
here are my questions:
1. what kind of cash is Nicole talking about keeping on hand? is she talking about dollars, like US dollars? And does she mean hidden somewhere on one’s property, like people did in the Great Depression? does she mean 3 to 6 months’ worth of living expenses?
2. what about the possible downsides of renting vs buying? downsides such as the landlord evicting you without notice or raising the rent too high or having terrible neighbors? or just being a horrible landlord? what if there are many more renters than available properties to rent?
3. what about the idea for at least some people living in some places of investing in a trailer (like those pulled by trucks by vacationers) to live in? that would give the person a place to live of their own but could allow them to be mobile, too, if they need to move to a different part of the country. in our community, which is poor, rural, and not densely populated with a fairly mild climate, there are lots of people already living in these kinds of trailers, some in trailer courts, others parked in unused parking lots where they must pay some kind of rental fee to park, and others in the parking lot of a storage rental facility. these trailers have been in these locations for several years, maybe dating back to the last Recession.
my husband and i own (no mortgage) our small farm. we have good neighbors. the closest town has several thrift stores, a shoe repair shop, a public library, several food banks, and used bookstores. we’ve tried to make our farm as resilient as possible. one idea i have is for my sibling who has a lot of debt and lives in another state to get rid of her debt and relocate to our farm, live in a trailer on our property. in addition, i have a friend who may end up living with us when her husband dies. this friend has skills that are different from, but compatible with, ours.
it would seem to me that suggesting options to taking on a mortgage or just renting might appeal to more people. that’s why I’m suggesting the idea of owning a travel trailer as one option.
I’d appreciate responses from the other TAE readers. Nicole probably doesn’t have time to respond to an individual reader’s posting. And maybe she’d like us to help each other work through the ideas she presents. Thanks.
