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Original headline: ‘I earn $110,000 a year’: I lost my home in the Great Recession. I’m renting in my 50s. Why is that judged as failure?
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- Some people did everything right: I lost my home in the Great Recession. I rent in my 50s. Why is that judged as failure?
A renter in his 50s says he lost his job and home in the Great Recession and still rents while earning $110,000 a year, disputing a mortgage loan officer's view that would-be buyers lack financial discipline. The columnist agrees timing and economic shocks mattered, noting unemployment reached 10% and foreclosure filings hit 2.8 million in 2009. Today the 30-year mortgage rate has reached 7.3% in early October, nearly three times its level five years ago, keeping many first-time buyers out. Lenders prefer housing costs at or below 30% of gross income, so with $9,200 a month before taxes, the columnist estimates the reader could afford a property of about $300,000 before other debts are factored in.
- S&P 500 Stock Casey's Dropped 30% in Its Biggest Pullback Since the Great Recession -- Here's Why I'm Buying More
Casey's General Stores (CASY), the third-largest convenience store chain in the U.S., is down 30% from its June all-time high, its biggest pullback since the Great Recession. Fiscal Q1 2027 sales and EPS rose 24% and 28%, but much of that came from fuel margins widening from $0.41 to $0.478 per gallon, which the author says will be hard to repeat. Inside sales growth slowed to 3.2% from 4.5%, shoppers are shifting to private-label products, and management kept full-year EBITDA growth guidance at 8% to 10% despite 17% growth in Q1. The valuation, once nearly 50 times earnings, has fallen to 31 times, and the author points to plans to add more than 400 stores through 2029 and 25 straight years of inside same-store sales growth as support for the long-term case. The author says he plans to add to his position in two or three tranches through 2026.
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