The Conservative Cave
Current Events => The DUmpster => Topic started by: Texacon on April 01, 2021, 05:55:32 AM
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https://www.democraticunderground.com/100215290944
TreasonousBastard (37,469 posts)
All those years of economics courses and I am still dumbfounded...
Maybe I should have gone for the PhD.
Anyway, here we are dumping trillions into the economy to help small businesses and people rubbing their last dimes together. I see the poverty and the lines at food banks.
But, somehow there's a whole bunch of people bidding housing prices sky high. Just saw a listing where in one day there were a dozen or so cash bids and went to contract as soon as the lawyers could get off their asses. There's a huge building boom around here, and the builders are so busy they won't answer the phone. Start thinking of a half million to get a bungalow.
This does not add up.
Moostache (8,595 posts)
2. Bubbles are obvious post-fact...
The housing market is currently inflated beyond all reason, but I fear that the inflated prices cannot last much longer. I think the peak is either right now, or just past us...but either way the OP is right - this does not add up.
Hugh_Lebowski (20,483 posts)
3. Easy credit and super-low interest rates ...
And foreign investors buying US properties cause it's a safe investment.
And the perception that prices will keep going up.
Which they will as long as those conditions hold.
For however long that is.
BigmanPigman (41,282 posts)
4. A local realtor in San Diego said that the inflated prices
are not sustainable and he expects them to come down soon.
KPN (11,958 posts)
7. Did you hear or see this in the media or in a
personal conversation? Realtors here where I am are all saying the housing market and houses always increase in value. But this market seems irrational, just like the stock market. Or, the dollar is already worth that much less — which means consumer staples, goods and services are going to see similarly inflated costs as well?
Will wages keep up?
Are we condemning entire generations of working class people to a life of relative poverty?
These are the questions that run through my mind.
Oh, here's a smart question! I wonder if $15/hour is actually a living wage now? I wonder if this DUmmie can realize the more you increase the minimum wage, the more things are going to cost and the rise continues from both sides until someone yells uncle and makes it stop.
stopdiggin (4,369 posts)
5. And .. let's not forget that the past year or so
has been awfully darned good -- for a percentage of people. True, it hasn't been spread around very evenly -- but that was never really the point.
(having said that .. would I be buying a house, or condo, in certain parts of the country today? Not hardly!)
KPN (11,958 posts)
6. This is a serious issue. Rental homes are being put on the market
here in coastal Oregon at twice the price they were sold for just two years ago -/ and 25-30% of that increase had occurred in the past couple months alone. Renters who are already paying exorbitant and often barely affordable rates are having their shelter pulled out from under them in an already tight rental market. They can’t afford to buy a home at these inflated prices, and if they do will be paying a higher monthly and property taxes that reflect the new market (sale) value!
I don’t see how this is not going to end up a catastrophe in one form or another.
It’s discouraging. America seems to have become totally overwhelmed with greed — especially in this past year, the year of the pandemic.
Well now, they are SO close to actually coming out and saying it, aren't they. MAYBE we shouldn't have been giving out all this 'free' money. MAYBE inflation is real and this is how it starts.
They are also so close to having an understanding of what is happening, but since they didn't "get the Phd" ...
Welcome to Joe Biden's America, DUmmies.
LOL. Smartest people on the internet, yes sir.
KC
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What would DU be without economic envy?
Dunno where TreasonousBastard lives, but in some cities, such as SF and NYC, rents and housing prices have fallen significantly as people move away. Maybe TreasonousBastard lives in an area to which blue state refugees are moving. Or maybe TreasonousBastard is making :bs2flag: up for DUmp-cred.
Price increases and decreases due to local supply-demand changes and imbalances are unrelated to "stimulus" trillions, but DU needs to feed its economic envy incubus.
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KPN (11,958 posts)
...
Will wages keep up?
Not with you inflating the labor market with tens of millions of foreign invaders.
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I'll say something that maybe DU can understand.... " You can print money, but you can't print property. "
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I come to determine that life in general dumbfounds the libs. Some things that are quite simple and noticeable to people with common sense is completely missed by the self-proclaimed smartest people on the planet.
The gov’t is printing money and I’m positioning myself to grab much, much more than my fair share. If they’re stupid enough to overprint it, I’m going to grab all I can with both hands.
.
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I'll say something that maybe DU can understand.... " You can print money, but you can't print property. "
You can print money, but you can't make it worth anything. Ask Venezuelans and Zimbabweans about that.
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You can print money, but you can't make it worth anything. Ask Venezuelans and Zimbabweans about that.
And the Weimar Republic.
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DUmmies, the gubmint DOES NOT produce anything. IT TAKES. We cannot tax ourselves into prosperity.
GET IT?
No you DUmmies don't. :bird:
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But, somehow there's a whole bunch of people bidding housing prices sky high
you see DUmmies, there is a whole bunch of people outside your bubble of existence who have taken the effort to better themselves and get high paying careers and not rely on the minimum wage and government handouts to get them thru life and can afford to buy things you can only dream of.
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The gov’t is printing money and I’m positioning myself to grab much, much more than my fair share. If they’re stupid enough to overprint it, I’m going to grab all I can with both hands.
Until such time that there is a credible government in this country, this is exactly what I suggest all decent and civilized people do.
It might sound selfish, but self-preservation is no crime; better this side have it than the primitives.
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America seems to have become totally overwhelmed with greed
That's what we used to say about unions just before U.S. Steel went belly-up.
By the 1970s, more than 5,000 people worked at the site. As the years wore on, U.S. Steel slashed thousands of positions and in 2001 closed the majority of the site.
http://levittownnow.com/2020/12/29/large-u-s-steel-site-in-falls-twp-sold-for-160-million/
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TreasonousBastard (37,469 posts)
All those years of economics courses and I am still DUmb...
FIFY, ingrate. :tongue:
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FIFY, ingrate. :tongue:
Meh, don't be so hard on her she could have received an economics degree from the same university that AOC graduated from. Boston University.