we are on a fixed income ! we make every pennie count . my '31 is almost perfect . will be by march . waiting on a new motor . i do most all myself , but motor work . no machines !! we are very lucky here . all is paid for , so just have to survive . i think it will get worse b 4 it gets better . hang on & keep your overhead low ...................... steve
PS to my previous post: I grew up poor and stayed that way - so I feel like I've been prepping for this my whole life. My driver is an '80 Malibu beater that was given to me (blown engine), 11 years ago. I eat PB&J every day. Not afraid of crappy hard dirty work, etc. No credit cards (except for my Craftsman card). So nothing has really changed for me. I feel for the people who are new to this lifestyle and making a big adjustment. Ultimately, my hope is that we get humbled enough to lose some of the arrogance that got us here - and the road ahead will be that much brighter...
Actually it's on topic, (for the thread, not for traditional hotrod! LOL), because it's how I keep my perspective. I did all of the work, including the upholstering, welding, wiring, on the truck except for the rebore on the motor, don't have a boring machine! Paint is Imron, never wax, just wash with clear water and wipe down with terry towel. Original gas tank held only 10 gallon, a friend welded up another with 15, now that gas is cheap again I keep it full! Grenade box in the back was given to me by my son, used to be a combat arms instructor. He's a wood worker too, just built a guitar amp from scratch, gave me a lot of help tooling up to do the spoke work. I like to brag about how much money I didn't spend on the car, save my money for beer. Labor of love, not to anybody's specifications. Channeled 2 inches, radiator is 3 inches down from original, doors are suicided, drove it for a year without doors whilst I was making them to fit the holes as they ended up when I built the body from derelict sheetmetal. Radio/tape deck, Heater, AC, front discs, power rack and pinon, big rig air horns, old timey spot lite, two heat gauges one on the radiator, one to calibrate it by on the dash, 250 motor with carburetor twice on offy manifold. Goes like, and as fun as, hell.
29Nash - Thanks for the pics. Great car ya got there. My 2 favorite pics are the one with the air horns on the top and the last pic with the matching trailer. Those wood spoke sheels are really cool also. Thanks!! Mike
That's what the girls at the scrap yard said when I pulled in a month ago with my 'garage cleanup' wares. One of them gave me the old hand in the air pump sign, when I obliged she ran out and ask if she could try it herself, then wanted to know if the stuff in the back was 'really scrap metal'.
Times are pretty good at the moment, see everybody's tight for cash and trying to save a buck or two when their late models break down. So my phone's ringing off the hook with folks wanting me to roll the toys out in the snow and make room to repair their late models. Since funds generated in the garage stay in the garage, that's good news for the toys. You don't have to have fancy diagnostic capabilities for most late model work, a leaking water pump or silent fuel pump isn't rocket science, just good old fashioned wrenching. Let that garage pay it's own way.
I wasnt gonna get in on this post ,but what the hell. things lookin kinda grim around here. I work in studio industry and with this writers strike looming no studios r willing to put their necks on the line.This is the first time in 15 years i dont have a job to come back to after the holidays.Not lookin so good. With my truck almost done im finding it hard to put money into it. Now i have time and no cash.This post is great thou makes me want to keep the chin up. thanks
I gotta agree with Big T on this one. If you signed your name to the mortgage and agreed to make the payments, then make the damn payments or sell the house. A lot of people did this in areas where the property values dropped, not because they lost their jobs or couldn't afford it, but because they owed more than they could get and figured they were better off. That makes you a liar and a thief in my book and it's a big part of why a lot of banks failed, taking down a lot of other businesses with it. Not only that, but it destroys your credit history. Credit history didn't mean much in the last 10 years, if you wanted a car or a house there was a bank or a dealer who'd find a way no matter what your credit looked like. But that shit stopped, it's hard to get anything even with good credit. Some employers even check credit history before giving people a job, it's a good indicator of how trustworthy a person is. Walking away from a mortgage isn't going to look good to anyone who checks. I wasn't going to write a response here but I felt I had to. I can't believe someone would suggest defaulting on a mortgage like that. What ever happened to personal responsibility?
Saving all my metal scrap - using the most of it, hand making more parts, barting parts to get other parts. Moving parts for 'more than fair prices'...and taking my time. Passing on the 'add-ons' that I would normally buy. Getting only what I need. If it gets any worste, Ill be saving gas
think about this................. a first time credit card applicant usually gets approved for a card with lets say....40% yearly intrest rate. so owe $100 for a year and *BAM* you now owe $140,next year goes by and *BAM* ,you get the idea now lets say a person with established credit has a card with 2% ARP.....well that sounds pretty good right? and most people would be happy with that............. Now what if a person with established credit was to to choose to get the 40% APR card; and without ever swiping that card(and racking up debt,and the card balance staying at zero),send the credit card company monthly payments. What happens is this....... you change from the fool who has the high intrest card that is swiping his way into a bottomless pit,To the genious who outsmarted the company by reading the fine print at the bottom of your monthly bills. With a 40% intrest rate, your new founded ''savings account'' is making you rich.
I guess what I do isn't too scary for the clients. I just brought in 2-3 years worth of work. What's already there is moving along at the right pace. Cash flow is close to perfect. The down side is it takes all of me to keep it alive. Personal projects suffer. Lots of time invested. That's about to change for the better. Sad thing is that what I do is not one of life's requirements. Who (besides me!) really needs a 34 Packard? I gotta work on that idea...
. Believe it. ...and, what's this "I wasn't going to write a response here but..........."?? Get down off your high chair and participate. Are you implying that you are too good to participate in such drivel, so superior that you can't reply to a discussion without trying to sound superior to the banter? Be a 'man' get if off your chest! Yes, of course you are correct , if, (GREAT BIG IF), we were living in the past. But just try to get a home loan (today) where the bottom line is a true reflection of the true value of the house. It don’t happen anymore. Regarding a home loan of more recent years, a man’s word has been diluted by SOCIAISM trends in the mortgage process. Congress has, in the interest of making home-owners bear the burden of the banking industry, through back-door manipulation of the market. Everything, including the cost of the backyard fence of our legislators, not to mention the welfare and medical bills of illegal aliens, is piled onto the cost of a newly constructed house through manipulation of the system. Realtors/wall street money brokers/investore/ etc., relish the opportunity to foreclose, because they get the benefits of yet another sale, and when the banking industry gets in a bind, guess what? Congress bails the money changers out! What about the man stuck with a lopsided mortgage where his house is worth less than the loan? That is exactly what’s been happening in the last several years, since SLICK WILLIE started the trend with Fannie Mae and Freddie Mac, the blueprint of which we are faced with today when getting a home loan. These people have created a ‘paper shuffling industry’ where they ride on the backs of families paying for a house. If they went away, one could still buy a house. They are merely ‘money middle men’, (the evil money-changers you read about in the good book.) In 1960 (traditional hot rod term! Here!)............... most home loans matured in twelve years. I bought one of those houses, (in a MANS WORD time in history). WE had a MORTGAGE BURNING PARTY when the loan was paid off. Been to any mortgage burning parties lately????? Not likely, not even a recognized term in today’s world. Why? Because along the way some financial genius figured out that if they took the extreme amortized (THIRTY YEAR) loan and made it the norm, they could feed on the backs of most citizens for the rest of their lives! Consequently in recent years most people that take a mortgage are being encouraged to sign up for a thirty year deal. They are suckered in, not really thinking it through and then they are fucked. The leeches at Fannie Mae and Freddie Mack (backed up by the Congress because of the inherent greed is intoxicating) are reaping (raping) the benefits. They pay for several years of virtually INTEREST ONLY, with very meager pennies going to the principal. Just to repeat my assertion, bailing out of a (young) mortgage is merely playing the game, and certainly not breaking any ’mans’ word. The right to bail out is a legal maneuver, is part of the promise. Hey Thefingerisout, didn't intend to sidetrack your thread, I'm gone.......29nash .
well the plant is now closed. it was supposed to be two weeks, now they say if they need us they will call us. Merry Christmas. We are poor people and I have no idea how we are going to make it. Been trying to get ahead for years,and something always happens to put us behind.
Just to repeat my assertion, bailing out of a (young) mortgage is merely playing the game, and certainly not breaking any mans word. The right to bail out is a legal maneuver, is part of the promise. Hey Thefingerisout, didn't intend to sidetrack your thread, I'm gone.......29nash .[/quote] No problem Nash......I have to say I am still pleased that I started this post, even though my intentions were to put of positive spin on a bad subject. Seems people need to unload, and hey,,,if it feels good to do it here, and the mods don't mind, go for it. Without pulling out the soap-box, gotta say that the main reason I am able to make it in this economy is simply being happy with what I have. I have only wanted a car bad enough to make payments on one, that was 1979, and that's all the lesson I needed. I have never made car payments again. The wife and I have five credit cards, no balance on any of em. When we have extra, we pay down our mortagage instead of buying more crap we don't need. Most weekends you will find me hitting at least a few yard sales. I'll buy some old crappy table and redo it, put it in the house to use, and when its not needed anymore, sell it for a tidy profit. I'm not ashamed to admit 90% of my furniture is yard/estate sale stuff. I have the best home audio system of all my friends (some of these guys have bucks too), mine is an amalgamation of parts and pieces that I have assembled into what rocks the foundation. When I got laid off almost two years ago we adjusted our spending to make do. My best friend got laid off in May, and I took him in, part to help him, part to help with our expenses. Thats what we do........right? I'm happy to read when one of us needs to un-burdon, and I'm happy to hear the good news too. Most of all keep the dialogue going, we can all learn something here that might just make the difference for one of us.
I took up a contract as a government hit man, it pays the bills. Or was that went on un-employment?? Doc
I shop at the 99 cent store for cheap food, bread is 40 cents cheaper per loaf than at safeway...and with 4 kids we go through a lot of bread! I also do side work for people ...got 3 cars lined up right now to work on.....then there's the pinstriping when I can get it....hustle hustle hustle and don't spend much time in front of the tube. I still have a real job too...wife just got done with school at 42 years old...now she's doing intern work for free to get her certificate in sterile processing....cant beat the medical field. Good luck to all of you guys with no jobs.
This has been a kinda crappy morning. I got temp. laidoff for two weeks or who knows how long, so no work today. Thought I would start the wifes car this morning it was 5 deg. and icey ,so I let it run and went back to check it out and gas was running down the front of the intake. this o/t peice of crap needs a fuel rail monted presser regulater, guess what ,no one in town has it.The dealer can get it in a "couple of days" for twice what the part stores can get it!Then I worked on me and my dads unemployment (he's fired after 36 years at his job) I still dont know if I got his straitened out yet after 2 hours! took a break to look on the hamb and feel better now! The good Lord always supplys what I need, and Im not going to worry any more!! thanks fer listening to my rant, later, cobe/om71
rant away if it helps, i hope it can help you in same way, went out to the plant to make a part or two for the car,wierd with the place being deserted on a monday. been up and down that road for 9 years, sometimes walking the four miles,so strange to not know if it will ever open again. went ot the unemployment office, waited two hours to change my check to direct deposit, they never got to me. place was packed full of non english speaking sombrero wearers. someone was out behind the building smoking crack. this SUCKS.
Regarding the discussion about walking away from a mortgage just because you are upside down..........isn't this what we are faced with on other things..............like a new car? What if you restored/built a car for someone and the owner needs to sell and he can't get his money back out and decides to walk away from paying you? Is that OK? The problem now is that everyone (including corporations) want to walk away from their losses or get the big gov handout. Why should the gov't give taxpayer money to prop up Chrysler when their owners (Cerebrus) won't? Nobody wants to be responsible.
From what I gather, as far as the housing thing goes, it was a gamble. A person buys a home and gambles that it will be worth more in the future. Those shows on television about buying a home for cheap and fixing it up to sell for a profit exposed something. It exposed greed. A gamble is just that... a gamble. Try this. Go to Vegas and drop all your money on the spin of the wheel. When it comes up black and you bet red, tell the house you want your money back because you didn't win. The curb will be waiting for you. Think of your banker as the dealer in a casino. He's gonna tell you anything if it gets you to place a bet. Whether you win or lose, he still gets paid at the end of the day. Back in the day, if you couldn't save up enough to put 20% down on a home or car, you weren't supposed to have it. A good down payment makes for small monthly notes. People need to stop trying to jump into things. If you see something you like, save up for it. The American dream of having a home in the burbs is nice, but plan for the unexpected. Build a nest egg in case your economic status changes. Get back to basics! I have a hard time feeling sorry for the guy who can't make ends meet, while he's sitting on a leather sofa wating a plasma TV.
Yeah, but I couldn't keep up with demand and I started walking funny....... PS, Please stop calling for an appointment!
it used to be that people could buy crappy homes,work hard to fix them up, then sell them for a decent profit,nothing wrong with that, it's called work,then the capitol gains tax came along and said WHOA!! you caqn't work hard and make money, the goverment wants almost everything you made.
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