Joe Biden's First 270 Days - Off the Charts

GopherWeatherGuy

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It's just crazy stupid right now. I'm looking at property, interested in another house in a different location, and for a TON of them, when you look at the graph of the house value, many of them show a 50% spike in the last 6-9 months. It would just plain stupid to buy at this point, at least one would think anyway.

Yeah it's just not sustainable. I'm currently selling my house and renting for the next year. The only way I'd consider buying right now is if you knew you were never going to leave that house.
 

Wally

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Both parties need low interest rates. Imagine how much interest the government, including your kids and grandkids, will owe if rates were 4-5% right now.
For sure, only problem is that the perpetual easy/free money sets us for the boom and bust cycles our economy has been going thru for a while.

As long as you don't get burned when the next bubble pops its probably ok I guess.
 

Wally

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Yeah it's just not sustainable. I'm currently selling my house and renting for the next year. The only way I'd consider buying right now is if you knew you were never going to leave that house.

You think housing prices correct soon?
 

Ogee Oglethorpe

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Yeah it's just not sustainable. I'm currently selling my house and renting for the next year. The only way I'd consider buying right now is if you knew you were never going to leave that house.
Ballsy move, and that's what I would really like to do right now but it's a big gamble things are going to tank if they don't. I have zero doubt I could put a crazy number on my house right now, especially with 1.5 acres, and somebody would pay it but it's a big gamble it's going to tank. And some of the gains would be offset by getting hammered on taxes.
 

stocker08

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Ballsy move, and that's what I would really like to do right now but it's a big gamble things are going to tank if they don't. I have zero doubt I could put a crazy number on my house right now, especially with 1.5 acres, and somebody would pay it but it's a big gamble it's going to tank. And some of the gains would be offset by getting hammered on taxes.

Hold onto your 1.5 acres of Mars land. That NFT could be worth a bundle someday.
 


Wally

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Ballsy move, and that's what I would really like to do right now but it's a big gamble things are going to tank if they don't. I have zero doubt I could put a crazy number on my house right now, especially with 1.5 acres, and somebody would pay it but it's a big gamble it's going to tank. And some of the gains would be offset by getting hammered on taxes.
Yep, my house isn't worth enough for selling it to pay off.

You don't pay capital gains on $500k in profit if married when selling your primary residence. If your house went up over $500k since you bought it, then you call the tax man.
 

GopherWeatherGuy

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Ballsy move, and that's what I would really like to do right now but it's a big gamble things are going to tank if they don't. I have zero doubt I could put a crazy number on my house right now, especially with 1.5 acres, and somebody would pay it but it's a big gamble it's going to tank. And some of the gains would be offset by getting hammered on taxes.

When you see a steady increase in prices for years, then see an exponential increase in one year, it's not sustainable. I'm in a position where I know I don't want to be in this house long term and I can take a gamble. I've actually only lived here for 2 years, and what I'm selling it for is insane compared to just 2 years ago.

There are so many dominos being stacked against the economy right now, it's only going to take one event to knock them all over.
 

Wally

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There are so many dominos being stacked against the economy right now, it's only going to take one event to knock them all over.
Any predictions on what it will be?

Lot's of things happening in China economically right now, not sure how much those reverberate around the world tho.

Raising interest rates would smack the housing market hard, that's maybe the biggest short-term risk.
 

John Galt

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Yeah it's just not sustainable. I'm currently selling my house and renting for the next year. The only way I'd consider buying right now is if you knew you were never going to leave that house.
The problem is that rents are also sky high.
 




GopherWeatherGuy

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Any predictions on what it will be?

Lot's of things happening in China economically right now, not sure how much those reverberate around the world tho.

Raising interest rates would smack the housing market hard, that's maybe the biggest short-term risk.

Hard to say, I'll be surprised if we don't see it happen over the winter. But maybe it'll take longer than that. The more this administration tries totalitarian tactics, the worse it's going to get.
 


Section2

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When you see a steady increase in prices for years, then see an exponential increase in one year, it's not sustainable. I'm in a position where I know I don't want to be in this house long term and I can take a gamble. I've actually only lived here for 2 years, and what I'm selling it for is insane compared to just 2 years ago.

There are so many dominos being stacked against the economy right now, it's only going to take one event to knock them all over.
No doubt there are, but I don’t see prices going the other way. Inflation is here and will get worse. Make sure you diversify your assets. Owning my house is probably the one thing i feel confident in.
 



Bob_Loblaw

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For sure, only problem is that the perpetual easy/free money sets us for the boom and bust cycles our economy has been going thru for a while.

As long as you don't get burned when the next bubble pops its probably ok I guess.
Or if you plan on owning your home THROUGH the bubble.
 

Bob_Loblaw

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No doubt there are, but I don’t see prices going the other way. Inflation is here and will get worse. Make sure you diversify your assets. Owning my house is probably the one thing i feel confident in.
I actually think people who had been owning homes as investments should switch to investing in land. If you can find lake property within an hour of a metro area, buy it. If you can buy farm land within an hour of a metro area, buy it.
 

GopherWeatherGuy

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No doubt there are, but I don’t see prices going the other way. Inflation is here and will get worse. Make sure you diversify your assets. Owning my house is probably the one thing i feel confident in.

They went the other way significantly in 08. If demand drops, prices will drop. Houses are already sitting longer now than they were just 2 months ago, which is typical for fall, so we'll see if that continues.
 

GopherWeatherGuy

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I actually think people who had been owning homes as investments should switch to investing in land. If you can find lake property within an hour of a metro area, buy it. If you can buy farm land within an hour of a metro area, buy it.

This is definitely what I'm looking to do. I'm just not sure it'll be in MN.
 

Wally

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I actually think people who had been owning homes as investments should switch to investing in land. If you can find lake property within an hour of a metro area, buy it. If you can buy farm land within an hour of a metro area, buy it.
Good idea right there.

If you had cash to do that in 2009, you would be set right now.
 

Wally

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No doubt there are, but I don’t see prices going the other way. Inflation is here and will get worse. Make sure you diversify your assets. Owning my house is probably the one thing i feel confident in.
If interest rates get raised housing prices almost have to fall.

I am curious how much speculation in housing is happening right now, seems like everyone has a guaranteed offer program.
 




bga1

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Yep.
Giving free money for not working drives wages up. Unfortunately, those things also drove the inflation rate to a 13-year high and has made those increased wages worth less than before.


Everyone loses in the Harris-Biden plan.
And the people that lose most are the low income people. Energy cost goes up, used cars go up, food prices go up, as do all the basics. It immediately eats up the raises they credit to the governing nannies. The Dems promise free stuff and it almost always hurts the ones they make the promises to.
 

Wally

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Yep.
Giving free money for not working drives wages up. Unfortunately, those things also drove the inflation rate to a 13-year high and has made those increased wages worth less than before.


Everyone loses in the Harris-Biden plan.
Low wage jobs have wages increasing faster than inflation. That's a good thing.
 

Wally

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And the people that lose most are the low income people. Energy cost goes up, used cars go up, food prices go up, as do all the basics. It immediately eats up the raises they credit to the governing nannies. The Dems promise free stuff and it almost always hurts the ones they make the promises to.
Just have to raise taxes to remove that excess money from the system, boom inflation is over. Its not hard.

Your crying will be hard but that's all.
 

Section2

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They went the other way significantly in 08. If demand drops, prices will drop. Houses are already sitting longer now than they were just 2 months ago, which is typical for fall, so we'll see if that continues.
Yes, but this is a very different dynamic than ‘08. We are seeing shortages now. Maybe housing prices decouple from the prices of other goods but I wouldn’t bet on it.
 

Section2

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Just have to raise taxes to remove that excess money from the system, boom inflation is over. Its not hard.

Your crying will be hard but that's all.
Tell me you don’t understand what inflation is without telling me.
 

Spoofin

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Low wage jobs have wages increasing faster than inflation. That's a good thing.
Not according to the article I linked. 🤷‍♂️
Take your debate to Bloomberg.
 

Wally

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Tell me you don’t understand what inflation is without telling me.
You are saying removing money from the system won't reduce inflation?

Where does the FED's liquidity come from?
 





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