Pick up a credit application at a gas station that you use. Your first credit app. should be a card for gas. Use it, and pay the bill early every month.
You will start building credit. They will start sending you credit applications. Get one or two cards. Check out MONEY magazine, they have recommendations every month on which cards are cheapest.
And check out Dave Ramsey’s book about how to avoid getting buried in credit debt.
I think what’s happening is people and BANKERS have seen a LOT of debt paid down over the last 4 years…At some point, as in ALL RECESSIONS…People simply get TIRED of being AFRAID!!!
Once that SHIFT takes place it fires up millions of small economic ENGINES…
A family buys a new car…The salemans see’s dozens of these “families” come in and do the same…That saleman goes out and buys new furniture, or a TV, or maybe even a HOME…CONFIDENCE slowly starts to get a toe hold…Once that happens the economy wakes up, and it BUILDS from there.
I just had central air put in a rehab I’m finishing up…3 of the guy’s working on the system had all purchased homes within the last 6 months.
They also said they can work as much over time as they want these days.
The HVAC business (construction) is definitely picking up around here.
I also counted 2 new FORD PICKUPS , and one new GMC on the job site yesterday.
Even though my local newspaper has new foreclosure listings every day. However, this economy here has always lagged 2 years behind the faster moving western economies of California, Arizona, and Las Vegas. There was no real bubble, and there is no real crash.
Here my occupancy is now 95% week after week. Every Monday morning we ask ourselves, “How many homes are getting rent TODAY?” This takes out the units that are booked, but awaiting arrivals. We no longer keep them vacant for 2 weeks, but ask the customer to pay for half of that vacancy. They are doing that, so I know that those companies are also more flush now.
Fewer companies are asking for discounts, and our whiteboard with the “paycheck to paycheck” rent payors has also shrunk.
I am out looking for new units as we are turning away too many tenants. We also upped the rent on studios and 1-bedrooms by $1.50/day. The first increase in a LOOOONG time.