Prices?

[landshark99]

My home is so over valued what difference will it make if the bubble burst, and it falls 20%, it will not matter to us, we are not going anywhere at this time. Although come to think of it that 20% is what we paid for it to begin with, crazy

Sponsored

 

[FloridaSon]

I am truly impressed and encouraged by the depth of thought many have expressed in this discussion. I like several lines like: A rising tide won’t float all boats. Or the self described millennial saying cursive has added 0 to my life.

There are 3 maybe 4 generations represented here based on comments - that is great.

Lots to be aware of, some are being squeezed out of their neighborhoods, elderly parents left to the assisted living and nursing homes, we all rely on ‘just in time’ inventory even now after seeing what this did during Covid and our Jeep orders. What happens if the MickeyDees stops receiving food? Wild rabbits will become scarce pretty fast, take a lot of squirrel meat to feed a small family.

Are we as a country self sufficient enough to survive a shortage of imported food, fuel and technology? How about keeping our stuff when others want to take it?

The basics have always been food, shelter and clothing. I would add personal safety. Do a little prep, have a network of others to share burdens and enjoy what you can.

Not much we can do to alter the path we are on, regardless of who is in the Oval office. People could worry about this stuff til they go nuts.

Or they could do what I did, buy a Jeep!

Regards, all

 

[kenp1985]

I am truly impressed and encouraged by the depth of thought many have expressed in this discussion. I like several lines like: A rising tide won’t float all boats. Or the self described millennial saying cursive has added 0 to my life.

There are 3 maybe 4 generations represented here based on comments - that is great.

Lots to be aware of, some are being squeezed out of their neighborhoods, elderly parents left to the assisted living and nursing homes, we all rely on ‘just in time’ inventory even now after seeing what this did during Covid and our Jeep orders. What happens if the MickeyDees stops receiving food? Wild rabbits will become scarce pretty fast, take a lot of squirrel meat to feed a small family.

Are we as a country self sufficient enough to survive a shortage of imported food, fuel and technology? How about keeping our stuff when others want to take it?

The basics have always been food, shelter and clothing. I would add personal safety. Do a little prep, have a network of others to share burdens and enjoy what you can.

Not much we can do to alter the path we are on, regardless of who is in the Oval office. People could worry about this stuff til they go nuts.

Or they could do what I did, buy a Jeep!

Regards, all

Bitcoin. I’d encourage everyone on this thread to do some research and learn about Bitcoin, each person has made their case for it’s purpose without knowing it.

 

[Sean L]

I am truly impressed and encouraged by the depth of thought many have expressed in this discussion. I like several lines like: A rising tide won’t float all boats. Or the self described millennial saying cursive has added 0 to my life.

There are 3 maybe 4 generations represented here based on comments - that is great.

Lots to be aware of, some are being squeezed out of their neighborhoods, elderly parents left to the assisted living and nursing homes, we all rely on ‘just in time’ inventory even now after seeing what this did during Covid and our Jeep orders. What happens if the MickeyDees stops receiving food? Wild rabbits will become scarce pretty fast, take a lot of squirrel meat to feed a small family.

Are we as a country self sufficient enough to survive a shortage of imported food, fuel and technology? How about keeping our stuff when others want to take it?

The basics have always been food, shelter and clothing. I would add personal safety. Do a little prep, have a network of others to share burdens and enjoy what you can.

Not much we can do to alter the path we are on, regardless of who is in the Oval office. People could worry about this stuff til they go nuts.

Or they could do what I did, buy a Jeep!

Regards, all

Seafood and luxury food items are the main food imports. The US is VERY self sufficient with farmed meat, grains and produce.

 

[Deleted member 59498]

After a day my vote is still with the Lizards.

 

[Deleted member 59498]

Seafood and luxury food items are the main food imports. The US is VERY self sufficient with farmed meat, grains and produce.

Yep, as long as we can get it to market.

 

[CT_LFC]

A lot of these massive bids are from investment firms looking to turn as many single family homes into rentals as possible. You'll own nothing and like it.

I live in a sleepy town of about 18,000 people on the shore of CT (about 2 hrs from NYC) and we've had a significant inflow of NYers. Traditionally there haven't been many houses for rent and if i look in Zillow right now there's only 1 house for rent year-round in town. The rentals here are mainly academic rentals and then weekly/monthly during the summer, but those are all within walking distance of the water.

 

[CT_LFC]

I am truly impressed and encouraged by the depth of thought many have expressed in this discussion. I like several lines like: A rising tide won’t float all boats. Or the self described millennial saying cursive has added 0 to my life.

Reminded me of this meme

 

[Shibadog]

The more I think about it, one decimal place ought to work. That 60,000 Jeep is now $6k, the 200,000 house is $20k, $3.89 gas is 38.9, and $20/hr is now $2.00. Welcome to 1970?. Of course there WERE no $6k Jeeps-a Jeep was $2500-3k. Heck my top of the line ‘72 Vette with the LT1 was only $5400?

 

[mnjeeper]

We have been in the market to upsize our home but every month it just gets worse and worse with house prices going up a ridiculous level and that not even being enough as then they are bid well over asking price. Now prices are high and rates are way up so double whammy.

Yes, our current home has appreciated, but so has every other one to an even greater extent so it makes it difficult. Being a first time home buyer must be demoralizing unless you come from money.

At some point something has to give. With rates now approaching 5% demand has to cool down at some point, but what will happen to supply? will people sell? why would they? tons refinanced into lower rates (we did into a 20yr loan @ 2.6%) so why sell to go buy at high prices, higher rates with few options? If the market starts whispering words of a bubble, will that trigger FOMO and make people sell to cash in before a market decline?

With prices so damn high i wonder if banks were giving out loans at a high debt to income ratio where now those people are in a financial bind due to inflation, which could increase supply but not in the near term.

What a mess.

Around here, there are years of buyers without houses to buy. The demand will outpace supply for quite a while.

I wouldn't worry so much about a 2008 style bubble. Price growth will slow, but we don't have the conditions from 2008 looming. As you said, so many have refinanced below 3% so that makes us even less likely to see that type of bubble. Right now there is FOMO for buyers, wanting to jump in fast while they can afford the current interest.

 

[GearWhore]

Yeah, but the real debate is the Harvard comma. Yes or no?

I don't know if the "Harvard" was intentional or not, but it did make me chuckle! My wife is an English Professor and it seems like there is Oxford comma discussion at almost every dinner party.

 

[johnnyj]

Prices are indeed insane - a big reason I sold my JL and went back to a Tacoma. I figured I'd grab a TJ for a project in the next few years, but at this rate who knows. Inflation coupled with supply is a huge factor as many have stated here. A quick look at offerup this morning yields TJs for 10-12k and 200k plus miles. Honestly at that price I'd rather look for one with a blown engine and buy a 4.0 long block to swap in myself.

What I really appreciate here is the sentiment some share about downsizing in preparation for what's to come. The just in time economy really is just that...and man if we haven't seen how it can get bumpy after this year I don't know if we will. Getting debt zeroed if you have any, getting a nice stocked emergency fund (and pantry), and readjusting to a perspective of getting repairs done asap when you see supplies available (especially if you can find it private party, e.g. lumber) instead of counting on the stores to have it is probably really smart.

 

[Mtrctylarry]

I’m so old I remember taking a $20, filling the car, taking a girlfriend to a movie, then going out for burgers, fries and a shake and still having MONEY left over. THAT was a LONG time ago….

Good old day's for sure, and yes not that long ago...Our Great Country was also energy independent just a couple of years ago...rise of Inflation will always tied to the cost of energy.

Does anybody remember the 70's?

 

[Uncommon Sense]

Reminded me of this meme

The lack of comprehensive personal financial education being taught to middle and high schoolers is a crime (or maybe it is intentional by nefarious lizard people of the new world order).

 

[Sean L]

The lack of comprehensive personal financial education being taught to middle and high schoolers is a crime (or maybe it is intentional by nefarious lizard people of the new world order).

They made Home Economics an elective instead of a required course. I remember they taught us about stuff like Jury Duty, and making a budget and all of these life skills that Mr Parallelogram is crying about not getting taught.

Sponsored