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Inflation sucks bruh: JPow's Jihad

mclumber1

By mclumber1
in The Political Re-Education Camp

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osxmatt

osxmatt

Posted
Posted

I’m no expert in monetary policy, and it’s been a few months since I’ve heard Powell speak, but during today’s news conference it really struck me that he has absolutely no idea what he’s doing or what is happening in the economy. 

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Commissar SFLUFAN

Commissar SFLUFAN

Posted
Posted
1 hour ago, osxmatt said:

I’m no expert in monetary policy, and it’s been a few months since I’ve heard Powell speak, but during today’s news conference it really struck me that he has absolutely no idea what he’s doing or what is happening in the economy. 

 

It's entirely possible that the constructs that have underpinned economic theory for several decades simply no longer apply to the degree they once did.

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S3xB0t

S3xB0t

Posted
Posted
6 hours ago, CitizenVectron said:

Based on corporate profits, I don't see how greedflation can be denied by anyone.

We don’t have to look any further than the cost of a bag of Funyuns. $5.49?! Are you kidding me? I’d do anything to go back to the days where I thought $3.99 for a bag of onion-flavored air was expensive.

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TUFKAK

TUFKAK

Posted
Posted
1 minute ago, CastlevaniaNut18 said:

I never completely understood the idea of a starter house. Love my house and I’ll live here forever, unless I decide to move to another state. 

That’s the reason lol

 

as soon as I retire I’m leaving the bay.

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stepee

stepee

Posted
Posted
1 hour ago, TUFKAK said:

My starter house is fast becoming my forever house. My mortgage with todays rates would make me house poor, I have no idea how anyone is buying anything right now.

 

I’ve completely abandoned the idea of home ownership in the bay area once I looked further into it. Even looking at paying all at once, which I wouldn’t do, the total monthly payment is beyond not worth it; especially since I barely even want a house itself. Ill do nice conservative investments elsewhere that Ill feel more comfortable with and not be stuck with something where I can’t even realize the gains anyway.

 

Right now, I’m selfishly happy about this because I’m busy and  don’t want to put together the whole plan just yet and it’s easy money.

 

edit: oh and then there’s the insurance issue now

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Remarkableriots

Remarkableriots

Posted
Posted
7 minutes ago, CastlevaniaNut18 said:

I never completely understood the idea of a starter house. Love my house and I’ll live here forever, unless I decide to move to another state. 

starter-home-vs-forever-home-hero.jpg

Starter Home Vs. Forever Home: Which Is Right For You? | Rocket Mortgage

WWW.ROCKETMORTGAGE.COM
A starter home is a small, affordable home for first-time buyers. Find out if it makes...
Quote

A starter home is a smaller home or condominium bought as a first home. Properties typically have two bedrooms or fewer (or are a small three-bedroom). They also don’t usually have all the amenities you might want or they might be in a less-than-ideal location. This is a popular option with younger homebuyers because it’s less expensive and you can get it without waiting years to save up for a down payment.

Buying a starter home can give you the chance to save money and build home equity in a property at the same time – something you can’t do when you rent.

 

A forever home is one that you can imagine living in for a very long time. Unlike a starter home, a forever home has everything (or almost everything) that you might want. For example, it may have a larger kitchen, more bedrooms, a backyard, easy access to public transportation – whatever you envision. Forever homes are more expensive but also have a higher resale value than starter homes.

 

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TUFKAK

TUFKAK

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11 minutes ago, stepee said:

 

I’ve completely abandoned the idea of home ownership in the bay area once I looked further into it. Even looking at paying all at once, which I wouldn’t do, the total monthly payment is beyond not worth it; especially since I barely even want a house itself. Ill do nice conservative investments elsewhere that Ill feel more comfortable with and not be stuck with something where I can’t even realize the gains anyway.

 

Right now, I’m selfishly happy about this because I’m busy and  don’t want to put together the whole plan just yet and it’s easy money.

 

edit: oh and then there’s the insurance issue now

I bought for exactly two reasons. Rates were so low during Covid and therefore my mortgage became less than my rent, yeah love that Bay Area life, and as a result I gained an additional asset I can pull from when I retire. Property values are not going down in the bay any time soon and even after this little hiccup I’m right back to being up 10+% since purchase. 

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stepee

stepee

Posted
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8 minutes ago, TUFKAK said:

I bought for exactly two reasons. Rates were so low during Covid and therefore my mortgage became less than my rent, yeah love that Bay Area life, and as a result I gained an additional asset I can pull from when I retire. Property values are not going down in the bay any time soon and even after this little hiccup I’m right back to being up 10+% since purchase. 

 

Oh yeah there definitely were good times, I only meant as someone going in right now, it looked incredibly unappealing. Glad you were able to get the timing right!

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PaladinSolo

PaladinSolo

Posted
Posted
12 hours ago, CastlevaniaNut18 said:

I never completely understood the idea of a starter house. Love my house and I’ll live here forever, unless I decide to move to another state. 

From experience you don't buy the starter house thinking of it as a starter house, it becomes a starter house once you realize its too small after you have a kid, if you don't have kids you probably won't have the feeling of your house is too small.  The supply of "starter" home sizes is basically gone anymore though, its like everything built in the last 25-30 years is at least 1500 sq ft., and in the last 10 years it seems nothing under 2000 sq. ft. just isn't built anymore, at least around here.

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CitizenVectron

CitizenVectron

Posted
Posted
3 hours ago, PaladinSolo said:

From experience you don't buy the starter house thinking of it as a starter house, it becomes a starter house once you realize its too small after you have a kid, if you don't have kids you probably won't have the feeling of your house is too small.  The supply of "starter" home sizes is basically gone anymore though, its like everything built in the last 25 years is at least 1500 sq ft., and in the last 10 years it seems nothing under 2000 sq. ft. just isn't built anymore, at least around here.

 

It's crazy to me. When my wife and I started looking for our house, we knew exactly what we wanted: 1,000-1,200 sqft one-storey (with basement). In our city, that means homes built between 1940 and 1980, basically, because since then all the similar-sized homes are all two-storey. My wife has MS, and though her treatments appear to have halted her progression in the last couple of years (🥳), there's still the real possibility that she will have difficulty with mobility in the future, so less stairs = good.

 

I know that Canada doesn't have quite the same sqft inflation in homes that the US does, but it's still bad, and most new suburbs/infill are giant homes. Our home is 1,060 sqft, 1964...and someone bought the lot across the street, split it in two, and built two 2,000 sqft two-storey homes there. I am okay with this because I support dense urban infill (not a NIMBY), but it's also ridiculous how large these are, especially for the neighbourhood. You've got houses like ours going for $300,000-$400,000, and then those going for $700,000+.

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