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<blockquote data-quote="beentheredonethat" data-source="post: 325356" data-attributes="member: 4886"><p>Danny,</p><p> I think UPS will do OK, but I don't think we'll do well. By that I mean, I think in many areas, the local economy will affect the purchasing power and reduce deliveries esp to house call areas. Less pkgs and less stops, therefore the less routes put out there. I know a neighbor who bought a house for about 125K about 12 years or so ago. He wants to sell but was asking about 325, which about 2 years ago, he probably could have gotten. However, he tried selling about 8-12 months ago when the economy was starting to go downhill and esp the house prices. He was telling me that he got some offers but nothing for what he was asking. He said he couldn't sell for less since he owed a bit over 300K on the house. That's when it dawned on me how he could afford to drive a nice car and every few years get a new one etc. For the last 10 years he's averaged taking out about 20K/yr of equity out of his house. Now he owes 300K on his house, and can't sell it for that. He also lost his job for about 8 months and now has a job that is about 80 miles away (each way). He wanted to sell to move closer, but he just can't. All that makes me realize there's a heck of a lot of people in debt (to your point Danny - don't get in debt). I see it being a long time before everyone gets out of this problem. I'm just glad that I didn't borrow on my house and have no debt outside of a 100K mortgage that has about 17 years left on it. It won't be fun for at least the next 6 months probably longer.</p></blockquote><p></p>
[QUOTE="beentheredonethat, post: 325356, member: 4886"] Danny, I think UPS will do OK, but I don't think we'll do well. By that I mean, I think in many areas, the local economy will affect the purchasing power and reduce deliveries esp to house call areas. Less pkgs and less stops, therefore the less routes put out there. I know a neighbor who bought a house for about 125K about 12 years or so ago. He wants to sell but was asking about 325, which about 2 years ago, he probably could have gotten. However, he tried selling about 8-12 months ago when the economy was starting to go downhill and esp the house prices. He was telling me that he got some offers but nothing for what he was asking. He said he couldn't sell for less since he owed a bit over 300K on the house. That's when it dawned on me how he could afford to drive a nice car and every few years get a new one etc. For the last 10 years he's averaged taking out about 20K/yr of equity out of his house. Now he owes 300K on his house, and can't sell it for that. He also lost his job for about 8 months and now has a job that is about 80 miles away (each way). He wanted to sell to move closer, but he just can't. All that makes me realize there's a heck of a lot of people in debt (to your point Danny - don't get in debt). I see it being a long time before everyone gets out of this problem. I'm just glad that I didn't borrow on my house and have no debt outside of a 100K mortgage that has about 17 years left on it. It won't be fun for at least the next 6 months probably longer. [/QUOTE]
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