Congratulations to the Dow hitting 40,0000
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Inflation also inherently makes the rich richer and everyone else poorer.
Just have the government destroy the currency and your competition at everyone else's expense. Does sound like the new Dem platform. I support huskybuck saying it out loud.
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Rich always get richer. This isn't new. Trump said in 08 that he could clean up on the housing market after the crash
Which became Trump crashed the housing market so he could get rich off the misery of others
Now we are back its a GOOD thing for the rich to get richer off the misery of others
Same shit different day
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record number of people with a full time and part time jobs. Personal savings plummeting on a monthly basis and credit card debt at record high. buy now pay later programs its estimated 43% of people are behind on payments.
Premera blue cross is blaming inflation on not being able to renew contracts with multi care. But inflation is fake and isn’t happening.
I love the argument that inflation is global 😂😂. Who is the brain trust that ruined keystone pipeline project along with demonizing drilling for oil? -
No one can read the following facts and say this is a good economy. No one but brain dead rats who evidently like to kiss his hairy balls.
The dark reality of Bidenomics is 19.2% inflation under the President’s watch, which is 5.9% annually. When he took office, inflation was at just 1.4%. Since March 2021, it has stayed above the Federal Reserve's 2% target (38 consecutive months.).
Under Biden, the federal debt has increased by $6.9 trillion. The Federal Reserve printed money out of nothing to finance his spending spree. The increased money supply without a corresponding increase in goods and services reduced the value of each dollar, causing prices to rise quickly and leading to high inflation, effectively acting as a hidden tax on everyone.
Prices have increased by 19.2%, while real wages have declined by 2.6%. Average hourly earnings for all employees dropped 2.6% to $11.09 in April 2024 from $11.39 in January 2021 when Biden took office.
According to Mark Zandi, the chief economist at Moody's Analytics, the typical U.S. household now requires $1,069 more each month (equivalent to $12,828 annually) compared to three years ago, $784 more per month compared to two years ago, and an additional $227 per month compared to last year.
As a result, credit card debt and delinquencies are surging amid high interest rates. According to TransUnion data published on Thursday, the average credit card debt of an American borrower ballooned to $6,218 in Q1 2024, an 8.5% rise from the previous year. This collectively increased total debt to $1.02 trillion as the credit card delinquency rate, defined as 90 or more days late, climbed to 8.9%, the highest since 2012. The average credit card APR hit a record 20.72%.
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but I work for Amazon! I’m rich!!!!
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The stalk market and the middle class American's welfare have been disconnected for at least 30 years. Even people making $160,000 per year are feeling it. Cuck boy is rich at 29 and has schooled all Tuggers on everything. Just ask him/her/it.
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”Half of the office space in major US Cities will be empty 4 years from now but look at the stock market!”
JFC -
Yeah, my net worth went up mostly because my house value doubled. Now my real estate taxes and insurance cost double. Couple that with how the price of everything else has skyrocketed, and my standard of living has taken quite a hit.
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Bob said he bet against me that day. You took half that action. You owe me half of what I invested. I'll settle for the membership fees for HH as a pay off.
Bob wasn't a fool to listen to my stock advice?…..he certainly was (and everyone else) in the case of NVDA that day if they didn't heed it. I mean, that explains a lot if you guys think that delivering a 10% win in 24 hours after I gave said advice was a negative.
But then again, Pawz knows there's a reason Fox settled with Dominion for $787 million dollars, he just can't articulate it.
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Your personality is the negative. What a putz!
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Fender, if the price of your house has doubled, I don't think any of those added costs come anywhere near the price of your house doubling. Trust me, I know. I've done the actual math.
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You don't have to ask me Bill….i've demonstrated my ability to this board for everyone to see. I know y'all hate it, but its time you all accept it.
Some of you have demonstrated your ability as well. Jimmy "TheCompensationPackage" Clapp up there had no clue how a compensation package worked until I educated him. Now he can give his employees bonuses and stocks going forward now! Youre welcome.
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Of course your house value going up only means something if you are planning to sell. You'd also be an idiot to sell and trade a 2.3% mortgage for a 7% one. But those extra costs impact your cash flow in the moment.
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Even I knew that
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You are a child.
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$100 monopoly money says you'd rather have your home at the high price in 2024 than the lower price in 2020…..am I right?
Only an idiot like EverettChris would say No, for various reasons.
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Unless you are planning on leaving the area and going somewhere cheaper, it hardly matters in the short term.
So I should be happy that if I sell my house that I bought in 2012, refinanced at 2.3% in 2021 right now and use the equity to buy something with 500 more square feet down the street and double my payment because interest rates are over 2.5x vs 2020? And then pay capital gains tax on the profit from 2012 prices to 2024?
These price increases combined with high rates (relative to 2020) has caused most people to hunker down in place.
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History says we'll see a deep housing price drop as well. Mine has gone up tremendously four to five times what I paid to build it but Idaho has been through booms and busts before they don't skyrocket taxes here because of that but there certainly was a pretty good increase. Most of that increase in housing prices and taxes was caused blue staters running here to escape. Real estate has cooled here but we'll see what summer holds. I own mine outright. No house payments here but I am financially illiterate according to some here.
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Yeah it is coming. It's completely unsustainable as it is now. The irony is that Bidenomics has reversed the way the market normally operates. As we all know high rates should bring lower prices, but are not do to supply constraints cause by the fast increase in rates. It's gonna be wild that when rates begin to drop, that prices are actually going to go down as well as pent up supply will go up dramatically. Totally healthy economy. Put that one on the scoreboard right now.
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The housing bubble is going to affect places like Marin Co, Atherton, Bellevue, and Calabasas somewhat, but appetite for that kind of RE will always exist.
It’s places like Camas, Riverside, and Modesto that will get absolutely crushed….
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Hey Bob, you need a finance lesson. You will not pay a capital gains tax on the first $500,000 if you lived in the house 2 out of the last 5 years. If you did make more than $500,000 then you pay the long term capital gains on what's over that.
And you can do what a lot of your colleagues did, sell that house move to another state, buy a house fully and pay 0% interest. Isn't it nice to have that option?
Not being a dick, just wanted to inform you in case you wanted to do just that.
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Thanks for the finance lesson. My pretend equity has increased well over $1m in 12 years.
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Prices are not going to drop. There is not nearly enough housing supply and new starts are declining right now. Rates drop = more buyers in the pool competing and bidding prices up again.
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Normally you are totally right. It'll be area specific for sure. But what about what is happening right now indicates that we are operating in a rational market, most would have thought that going from 2.5% to 7% mortgages would have cratered prices, but that didn't really happen.
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Prices are set at the margin. There is still plenty of wealth in the country and the wealthy are doing well. Portland suburbs and Bend are doing well. My daughter has had three friends and two groups of friends parents move to Bend from the Bay area since covid hit. When the average working family can't move up due to the mortgage rate increase they stay put. So, you get a few sellers and a very thin market. That was true of mortgages in 2008. The Fannie Mae purchases of subprime mortgages at face value established the market for those loans. However, when the sellers became greater than the Fannie Mae purchases, the wider market resulted in the mortgage market blood bath. What can't go on forever, won't.
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Somehow I know how all this works. I used to have 8 rental homes around the country. I'm down to the last one. Been selling them off about 1 per year for tax reasons. But hey I did all this while HuskyCuck was in diapers. I like getting to pull the cash out now and I'm just done messing with them. Besides prices are up and I'm taking advantage. But then I am stupid and have no idea what I'm doing. Ask HuskyCuck. That dude needs to get laid. By a chick.
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I watched the Big Short again
Recommend
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Good parallels to 2008, but sort of the reverse is happening interestingly. Currently, the people with real equity have no incentive, and a real disincentive, to sell which creates the lack of supply. Following 2008, the people that were broke and underwater were the ones who weren't selling because they couldn't. At least in the case of 2008, those people were forced out eventually which helped the market bottom out an eventually stabilize. In the current situation, what is the forcing mechanism to get us back on track to a normal market?
