invaderzim
Super Member
Yet again I show my skill with timing. We are in the market for a car and a new A/C system for the house.
Prices.... Going Up!!!
- Thread starter musichal
- Start date
Yet again I show my skill with timing. We are in the market for a car and a new A/C system for the house.
Trying to buy a home right now. And it sucks............
In my opinion the cost of goods rising has little (or nothing) to do with lack of employees. **** wages and the businesses trying to recoup what they lost from the Covid disaster. I have not stopped working since this started. Nor have I gotten a raise in over 2 years and I am highly skilled (over 35 years) at my job. I actually made 20% more doing the same job in 2008 than I currently make. The downward spiral for the general public has not stopped since The Great Recession. Sure business is making profits..........on the backs of underpaid employees. They have changed the way they (they being the gub'ment) measure unemployment,inflation and wage increases several time in recent decades while no one paid attention.
I also believe the people collecting the increased UP benefits in overplayed. Even so can you blame people for trying to get more for less? Business does it all the time and no one says a thing.
Apologies for the rant but damn I'm sick and tired of hearing business complain about workers while pocketing huge sums on their backs.
In my opinion the cost of goods rising has little (or nothing) to do with lack of employees. **** wages and the businesses trying to recoup what they lost from the Covid disaster. I have not stopped working since this started. Nor have I gotten a raise in over 2 years and I am highly skilled (over 35 years) at my job. I actually made 20% more doing the same job in 2008 than I currently make. The downward spiral for the general public has not stopped since The Great Recession. Sure business is making profits..........on the backs of underpaid employees. They have changed the way they (they being the gub'ment) measure unemployment,inflation and wage increases several time in recent decades while no one paid attention.
I also believe the people collecting the increased UP benefits in overplayed. Even so can you blame people for trying to get more for less? Business does it all the time and no one says a thing.
Apologies for the rant but damn I'm sick and tired of hearing business complain about workers while pocketing huge sums on their backs.
Olive oil is great, and very healthy. I use coconut oil as a substitute for shortening/butter in baking good. Not sure if Olive oil would work in that application.
understood, but the reality is what the reality is. most states cap out UC so a person who made a lot, sees this weekly add-on as a little help, but still not much. But those on the lowest rungs of the pole - part time, unskilled, mostly teen or college workers, this is a godsend and *that* who is missing from the labor pool and *those* are the ones these help wanted signs are for. My kid was one of these people. he made more salary this winter, on UC, than he does in the summer. his bank account has never been higher. hell he went and got a car loan. but altho PA allows you to work up to 20 hours and not lose one dime, at 21 hours you lose it all so since he is conscientious, he went back to work. but there are online FB groups and twitter feeds from young people doing this and bragging about it, quitting on purpose as PA waived the requirement, and collecting. its free money till september. wouldnt you?
we cannot pretend that what everyone is saying is happening, isnt. I know its in vogue, but we cant.
YUCK. There is a place near lawrencville pa that uses olive oil for baking. they also dress bohemian, have free wifi, weird coffee and randomly shout Che Guevera slogans...but we tried the cake. YUCK. and we use ELOO and EVOO in EVERYTHING we do on the stove
Now is not the time to buy a house. Sell one, yes. We are in the midst of a massively inflated bubble, that's going to burst sooner than later. I'm old enough to have lived through a few bubbles (oil, stock market, dot com, housing, etc.), and the aftermath is not pretty.
I'm in the process of remodeling my house and hope I can get it done, and sold, before things head South.
There's a saying in the stock market; "Buy when they're crying, sell when they're yelling". The housing market is yelling, loudly.
we actually thot of that. sis just sold her house, in 3 days, for 15% over ask with the remodel jobs not finished!!!!!!!!....they are moving like asap to get into a place in FL. FL and TX are booming. montanna, the dakotas and idaho are boomed out of reach....avg small home in MT is 400K on no land. so we missed that bubble.
we could damn near sell our for 180% of purchase, today, hell this afternoon and we aint done. plus the flipper next door just knocked over its detach garage half an hour ago...making there exactly *5* multi car detach garages in this plan of over 500 homes and we got one of them (insert evil grin here)
ps - why did he knock over a large 4 car which adds 25K easy to his ask? needs a lot of work and lumber and the materials got quoted as $20000. and he has not paid a single helper yet
Many places in Colorado are like that too. At least along the front range (Denver & North and South). The closer you get to the mountains, the higher the prices.
Currently unemployed, but even with what I was making, I couldn't afford to buy my current house, at today's prices. It's more than doubled in the 20 years I've been here. With the majority of that in the last 2.
With my minuscule budget that doesn't really matter. It's just that it's a do it now or cannot do it situation. So we do it.
YY1
Addicted Member
My question is:
Who is buying these $280,000 1200 sq/ft houses that were $120,000 two years ago (and $80,000 two years before that), and now require $54,000 as a down payment?
Certainly not the unemployed droves.
Certainly not frequent "Amscott" cash advance customers.
Certainly not the 85% of Americans that have $300 or less in savings.
Certainly not the "move back to mom and dad's basement" crowd.
Certainly not the "can't find a job with my new liberal arts degree I owe $120,000 for" crowd.
How are there enough buyers to fuel the bubble?
Who is buying these $280,000 1200 sq/ft houses that were $120,000 two years ago (and $80,000 two years before that), and now require $54,000 as a down payment?
Certainly not the unemployed droves.
Certainly not frequent "Amscott" cash advance customers.
Certainly not the 85% of Americans that have $300 or less in savings.
Certainly not the "move back to mom and dad's basement" crowd.
Certainly not the "can't find a job with my new liberal arts degree I owe $120,000 for" crowd.
How are there enough buyers to fuel the bubble?
YY1
Addicted Member
Are you referring to the stimulus?
If so, I don't see lenders considering that stable income.
...and where would that 20% down payment come from?
Try $8400. 3% down, 30 fixed, 740+ credit score with proper income. non existent interest rates have an effect....
this neighborhood, for example, flat 2000-2015, well established, older population (essentially the parents of all my HS friends). ultra low taxes, ultra safe living.
in 2017 when we bought, the typical list was 145-150K. ours was 149900 that we won at 156500 and was on the market 1 day. today the typical new list is 225-230K, typical on the market is < 1 day, so fast the realtors are offering 4% fees...they literally do NO WORK, guaranteed sale. with our porch, garage, and extra legal 800-900sf downstairs, we are appraising at 270-275k. its insane.
every builder here QUIT making 250-300 starters as the cost of materials makes it they cannot bury the cost. so all of them are dong 500K and up homes a few miles from here and everyone is PRESOLD from the model with 20% down to hold the price. you are right, where is that money come from
and now this
US fuel pipeline hackers 'didn't mean to create problems'
https://news.yahoo.com/biden-declares-state-emergency-over-234018924.html
It doesn't take much to jack the price of gasoline and diesel fuel . This might .
US fuel pipeline hackers 'didn't mean to create problems'
https://news.yahoo.com/biden-declares-state-emergency-over-234018924.html
It doesn't take much to jack the price of gasoline and diesel fuel . This might .
YY1
Addicted Member
I wonder how many new home sales are to institutional buyers?
The last time we were shopping 4 out of 5 sales in the existing homes neighborhood we were looking in were to real estate holding companies.
...and I can't go a week without getting a letter from an "I'll buy your home CASH" company.
The last time we were shopping 4 out of 5 sales in the existing homes neighborhood we were looking in were to real estate holding companies.
...and I can't go a week without getting a letter from an "I'll buy your home CASH" company.
not really, after we (the taxpayers) paid for it, they are still doing 3-5%. when the market is hot underwriting wants the sale...even if the bubble bursts, there is a true housing shortage as problem states like CA, MI, NY etc shed citizens. with credit and income checks now the norm and FHA rules very strict, the previous type of collapse is low risk
