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August, 2024

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Are we headed for a catastrophic economic collapse?

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WoFIowz
Posts: 9788 - Karma: 72,404
Seriously though. Is it me or does everything seem like it's headed right for the shitter and all those eviction moratoriums and stimulus checks and student loan pauses did was prolong the inevitable?

I know they say the housing market won't crash like 2008. OK, so explain how this trajectory will be sustained.

Some other stuff...

Rent prices are astronomical on top of stagnant wages.

People have trillions in student loans, and many can't afford to pay them.

Trillions in auto loans. You've got people driving cars that cost more than they make in a year.

This is all on top of the lavish lifestyles and having to have brand new everything and the gratification that comes with it.

Medical bills? Good luck.

Retirement savings? Americans have practically none.

Emergency savings? LOL


I was bored and took a look at housing prices in a few areas that I've considered moving to in the future. Holy fucking fuck. There are entire cities and towns I can't even afford now, but was able to just 6-12 months ago. I'm neither poor nor rich however my income puts me above the 90th percentile. You're telling me that only that 10% is responsible for these price increases and still buying homes? Doubt it. It's probably that plus kids buying homes they can barely afford with lenders passing out loans on max debt to income ratio applicants. Who the fuck is paying $3-400+/sq ft? That's a great way to buy a house you'll have to live in til you die. Or foreclose... Jesus. Affordability is a relative term to an extent but our spending as a society is unsustainable. The whole reason I bought a house 2 yrs ago was because apartment rent was unsustainably increasing and a money pit.


I looked at current listings in my own city just for shits. Look at this entire screenshot. It might seem affordable but the value is dirt. This is an area I wouldn't buy a house in if it cost half that much and you put a gun to my head. These are prices in literally the most dangerous area of Columbus. Who is paying for this garbage; it's not like the houses are even nice enough or have the bones to rejuvenate like they do in the hoods downtown. The people living here (prior to the increase) can't afford half what these homes cost. This is the type of place where stray bullets fly through windows and kill children. Don't let the Kroger deceive you. That's a bad area.






Idk I felt like ranting but also what the fuck people?!

Tldr: this was all a joke. Go buy a lifted truck and pimp that ride.
Dec 23 2021 4:51AM
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skierman
Posts: 8269 - Karma: 7,149
Its because the market doesn't represent the economy, you stupid fuck. It hasn't represented the economy since "quantitative easing" was implemented during Obama. Now its just propped up by the Fed sinking $80 billion into it monthly, purchasing debt so it frees up money for corporations to do more stock buybacks.

I think people already forgot that Trump and republicans praised the Fed for sinking $2 trillion into the market during the initial COVID wave, the effects of which disappeared literally overnight. These are the people your government works for, corporations and billionaires because their wealth is directly tied to and completely at the mercy of the stock market's performance.
Dec 23 2021 5:45AM
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WoFIowz
Posts: 9788 - Karma: 72,404
Oooo I did forget about that worthless 2 trillion dollar waste of money that went poof overnight. What a great idea..
skiermanIts because the market doesn't represent the economy, you stupid fuck. It hasn't represented the economy since "quantitative easing" was implemented during Obama. Now its just propped up by the Fed sinking $80 billion into it monthly, purchasing debt so it frees up money for corporations to do more stock buybacks.

I think people already forgot that Trump and republicans praised the Fed for sinking $2 trillion into the market during the initial COVID wave, the effects of which disappeared literally overnight. These are the people your government works for, corporations and billionaires because their wealth is directly tied to and completely at the mercy of the stock market's performance.
Dec 23 2021 6:54AM
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Lonely
Posts: 6690 - Karma: 60,728
Was listening to a podcast the other day about covid and it's economic effect/other effects.

If I remember correctly I think the Yale science guy said it's calculated out somewhere to the tune of 17 trillion dollars lost. From the direct economic costs, to the loss of life, to industries failing or nearly failing. That ain't a number to scoff at.

I'm no economist but the economy doing "well" seems to be more of a facade...maybe even more than it was previously
Dec 23 2021 7:37AM
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r00kie
Posts: 5238 - Karma: 59,562
I think you're probably right, but you're making me anxious and you need to stop.
Dec 23 2021 9:30AM
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.frenchy
Posts: 18221 - Karma: 12,313
HypeBeastTldr: this was all a joke. Go buy a lifted truck and pimp that ride.

done
Dec 23 2021 10:25AM
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PacificRimJob
Posts: 24725 - Karma: 29,939
The Economy hasn't really been any good since the Clinton administration.
Dec 23 2021 10:52AM
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TOAST.
Posts: 7397 - Karma: 34,789
I hope I don't regret being financially responsible. Could have had a lot more fun the past few years instead of saving if everything ends up going to shit.
Dec 23 2021 12:19PM
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qazwsxedc34
Posts: 2918 - Karma: 2,182
Maybe the World Economic Forum's vision for 2030 was right:

"You'll own nothing, have no privacy and love it."
Dec 23 2021 2:21PM
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C.R.E.A.M
Posts: 2984 - Karma: 4,546
Part of me wants to say something witty and the other part of me wants to actually chime in on this so instead I will do neither.
Dec 23 2021 2:31PM
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qazwsxedc34
Posts: 2918 - Karma: 2,182
skiermanIts because the market doesn't represent the economy, you stupid fuck. It hasn't represented the economy since "quantitative easing" was implemented during Obama. Now its just propped up by the Fed sinking $80 billion into it monthly, purchasing debt so it frees up money for corporations to do more stock buybacks.

I think people already forgot that Trump and republicans praised the Fed for sinking $2 trillion into the market during the initial COVID wave, the effects of which disappeared literally overnight. These are the people your government works for, corporations and billionaires because their wealth is directly tied to and completely at the mercy of the stock market's performance.

Ginger knows. I also like when right-wingers cry about inflation or those lazy Americans getting a measly 1000 dollars from the treasury but they're totally fine with inflation in stock prices and don't mention 2 trillion looting of middleclass since the declaration of the pandemic. On top of that, right-wingers will always cry about inflation just before a deflationary doldrum.

Stakeholder capitalism is the new lifeline and the only way they can continue to prevent what will be inevitable and to do what ginger has said as well as to create new impact investing markets.

SEE: wrenchinthegears.com for info about stakeholder capitalism.
Dec 23 2021 3:11PM
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arnie_grape
Posts: 3451 - Karma: 11,656
i could buy your whole neighborhood you broke motherfucker
Dec 23 2021 3:46PM
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tri_photo
Posts: 1530 - Karma: 7,195
Not sure. I do have a $300 invested in BitCoin, though, so I feel as though I have an excellent investment portfolio and am insured a secure financial retirement










just kidding I'm terrified hahaha
Dec 23 2021 5:40PM
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ChadThundercock
Posts: 3071 - Karma: 828
Yeah I think its probably gonna happen. But it's essentially a game of blackjack with China and whoever busts first is gonna be the culprit this time, both economies are fucked but we could see the brighter side of a shitty scenario if China was to blame.
Dec 23 2021 8:03PM
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Casey
Posts: 7819 - Karma: 23,890
It’s a tale of two cities man. There isn’t shit for sale in the PNW every home that comes for sale sells immediately for hundreds of K over asking it’s always all cash, waive inspections 15 days close shit is just going off right now on the west coast. There are more tower cranes in formerly sleepy farm and logging towns than you would even fucking believe. Right now they are building light rail to connect Seattle to the outlying cities it’s like a 40 billion dollar project but it’s spurring a metric fuckton of mixed use development everywhere the track is being built and all around every stop. Every metric of economic growth is just absolutely redlining right now and it shows no sign of slowing down. Of course that’s what everyone says right before a giant collapse but IDK I honestly don’t see it for another 5-10 years minimum
Dec 25 2021 9:49PM
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frostedTip
Posts: 93 - Karma: 1,141
What goes up… must also come down
Dec 26 2021 11:28AM
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jstern
Posts: 30 - Karma: 226
People don't seem to understand that the $2T sunk into the economy last year staved off what would have been the greatest economic collapse since the 1837. Just because things didn't fail people will ask what the point was while not recognizing that things didn't fail.

The phrase "it's too expensive" doesn't mean anything when it comes to government spending because the growth created by borrowing literally erases the debt that borrowing causes.
Dec 26 2021 12:08PM
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TRVP_ANGEL
Posts: 12465 - Karma: 115,409
TL;DR. However, looking at the picture, I can tell that Kroger raises nearby prices by 100k. Wait til the real estate agent hear that I'm friends with a Chad Kroger.
Dec 26 2021 1:24PM
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PeppermillReno
Posts: 4780 - Karma: -646
Tyranny is typically followed by a depression. I'm not sure if poeple are going to wake up and see that the boosters are doing more harm than good or just demand more restrictions and more boosters for a couple years until its way too hard to ignore.

The fake war on Iraq ended with an economic depression. The same thing is probably coming. I'd be wary of the investment vehicles that have done phenomenally well since the pandemic hit (crypto and stocks.)

Inflation will hide certain things while at the same time making them worse for every day Americans. (Oh look my house went up in value awesome I'm making money even though my grocery bill just doubled they aren't related lololol.)
Dec 26 2021 1:53PM
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TheDoughAbides
Posts: 1319 - Karma: 4,035
arnie_grapei could buy your whole neighborhood you broke motherfucker


BET YOU WONT FUKN PUSSY
Dec 26 2021 2:02PM
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skierman
Posts: 8269 - Karma: 7,149
jsternPeople don't seem to understand that the $2T sunk into the economy last year staved off what would have been the greatest economic collapse since the 1837. Just because things didn't fail people will ask what the point was while not recognizing that things didn't fail.

The phrase "it's too expensive" doesn't mean anything when it comes to government spending because the growth created by borrowing literally erases the debt that borrowing causes.


OH NO, THE SUPER WEALTHY SCREWING EVERYONE OVER DIDN'T LOSE THEIR WEALTH! THE HORROR!
Dec 26 2021 3:26PM
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Abomber22
Posts: 3053 - Karma: 5,254
... been amazed from day one on this site by "quivers" , $300+ jackets, ... not sure many here are truly month to monthers... so any "economic disaster" pretty much is routine for my homies... come join the club.

It brings focus.
Dec 26 2021 4:39PM
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qazwsxedc34
Posts: 2918 - Karma: 2,182
jsternPeople don't seem to understand that the $2T sunk into the economy last year staved off what would have been the greatest economic collapse since the 1837. Just because things didn't fail people will ask what the point was while not recognizing that things didn't fail.

The phrase "it's too expensive" doesn't mean anything when it comes to government spending because the growth created by borrowing literally erases the debt that borrowing causes.

We get it Howard Stern, you hate poor folks and want to bomb Palestinians.

It saved the repo markets! 2 trillion dollars was looted from the middleclass. We the people taking the bonds of US Inc., are still to get our cut. Where's our 10,000 dollars? Where's our cut?

The phrase "it's too expensive" doesn't make much sense when it comes to government spending, ONLY WHEN, that spending increases productivity, and not the zombie bank kind of 'productivity.' The growth is a relative statistic. Growth for growth sake is retarded. Productivity for productivity sake is retarded. Unneeded emerging markets (impact investing) for growth sake is retarded. Doldrums are literally built into our banking system where multinational corporations loot and offshore most of that productivity anyway. We don't actually need to borrow from the chartered FED. In fact, the US is chartered as a self-funding corporation by Association Inc. A president could simply distribute large sums of funds (US notes) to increase economic autonomy, especially in local areas, such as in farming via low interest loans through PUBLIC banks. The literal erasing of the debt that borrowing causes is not the literal erasing of fictional debt if productivity doesn't offset it.

But then again, the US is a quasi public-private self-funding charter corporation (republic) so just write off these stupid 'debts' on another account book because the US cannot be in debt to itself.
Dec 26 2021 5:36PM
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qazwsxedc34
Posts: 2918 - Karma: 2,182
frostedTipWhat goes up… must also come down


PeppermillRenoTyranny is typically followed by a depression. I'm not sure if poeple are going to wake up and see that the boosters are doing more harm than good or just demand more restrictions and more boosters for a couple years until its way too hard to ignore.

The fake war on Iraq ended with an economic depression. The same thing is probably coming. I'd be wary of the investment vehicles that have done phenomenally well since the pandemic hit (crypto and stocks.)

Inflation will hide certain things while at the same time making them worse for every day Americans. (Oh look my house went up in value awesome I'm making money even though my grocery bill just doubled they aren't related lololol.)

It's okay, I'm a millionaire and I was able to afford this million dollar home in Toronto.


>>>"Inflation will hide certain things while at the same time making them worse for every day Americans."

As a millionaire, we are the underclass, we are the ones hurt more than anybody else. I've made it and I get a shack with black mold. As someone whose always lived off interest, I WILL complain about some decrepit 85 year old grandma on SSDI who tore her ACL while getting in the bathtub. She is not productive anymore and like Biden appointed Zeke Emanuel once said "kill yourself." It's not my fault and it's definitely not the billionaires' fault who works hard to aquire those billions. It's the middle and lower classes who need to learn how to work more efficiently and harder. These plebs don't pay attention to what most economists knew in 2019, and if you didn't have a TV at the time to watch these hard working economists, get some money and buy one! They spoke of “overheating” due to “leverage.” The repo markets were going to go bust! Even the wonderful Bank for International Settlements warned about this. Which is why I warned about inflation because it is always very bad that treasury money is given to regular folks! Especially a mere 1000 dollars, which should have gone to us, which most of it did anyway.

I love inflation in the stock market but I often cry about inflation when a deflationary crisis is about to hit because I'm smart about economics. I'm actually really smart! I love inflation in the stock market and in financial assets because I'm smart! Strong inflation in the financial sector is great! Strong economy!

It's your fault middle-class for lowering your own purchasing power! I'm a real estate agent and I'm doing just okay with the increase in asset prices. Hopefully I can afford a two room house in the future. My friend, a banker, is doing quite well with the increase in private and public debt.

Sure, as someone who has dual-Israeli citizenship, Israel is doing quite well as well and I might move there soon. They are an American ally and get nearly 4 billion dollars a year in money and weapons and citizens get universal healthcare. Each three family household gets the equivalent of 20,000 dollars annually, which has only increased since the pandemic, mostly from US aid.

I love “central bank money" but only if I get it! The rest must go directly into the hands of the banks. That way when asset prices rise the banks can offer "quality" loans.

That's the price we all have to pay! It's why we have to cut food stamps, and entitlement programs because poor people behavior.
Dec 26 2021 6:25PM
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Abomber22
Posts: 3053 - Karma: 5,254
Total fuckwad.
Not half, total.
qazwsxedc34It's okay, I'm a millionaire and I was able to afford this million dollar home in Toronto.


>>>"Inflation will hide certain things while at the same time making them worse for every day Americans."

As a millionaire, we are the underclass, we are the ones hurt more than anybody else. I've made it and I get a shack with black mold. As someone whose always lived off interest, I WILL complain about some decrepit 85 year old grandma on SSDI who tore her ACL while getting in the bathtub. She is not productive anymore and like Biden appointed Zeke Emanuel once said "kill yourself." It's not my fault and it's definitely not the billionaires' fault who works hard to aquire those billions. It's the middle and lower classes who need to learn how to work more efficiently and harder. These plebs don't pay attention to what most economists knew in 2019, and if you didn't have a TV at the time to watch these hard working economists, get some money and buy one! They spoke of “overheating” due to “leverage.” The repo markets were going to go bust! Even the wonderful Bank for International Settlements warned about this. Which is why I warned about inflation because it is always very bad that treasury money is given to regular folks! Especially a mere 1000 dollars, which should have gone to us, which most of it did anyway.

I love inflation in the stock market but I often cry about inflation when a deflationary crisis is about to hit because I'm smart about economics. I'm actually really smart! I love inflation in the stock market and in financial assets because I'm smart! Strong inflation in the financial sector is great! Strong economy!

It's your fault middle-class for lowering your own purchasing power! I'm a real estate agent and I'm doing just okay with the increase in asset prices. Hopefully I can afford a two room house in the future. My friend, a banker, is doing quite well with the increase in private and public debt.

Sure, as someone who has dual-Israeli citizenship, Israel is doing quite well as well and I might move there soon. They are an American ally and get nearly 4 billion dollars a year in money and weapons and citizens get universal healthcare. Each three family household gets the equivalent of 20,000 dollars annually, which has only increased since the pandemic, mostly from US aid.

I love “central bank money" but only if I get it! The rest must go directly into the hands of the banks. That way when asset prices rise the banks can offer "quality" loans.

That's the price we all have to pay! It's why we have to cut food stamps, and entitlement programs because poor people behavior.
Dec 26 2021 7:24PM
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Young_patty
Posts: 3261 - Karma: 37,391
Yeah, the cool thing too is social security is predicted to run out in 2037… so most of us will never get to use the benefits of it despite still paying into it. We’re totally fucked, lotta people are gonna not be able to retire.
Dec 26 2021 8:40PM
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qazwsxedc34
Posts: 2918 - Karma: 2,182
Young_pattyYeah, the cool thing too is social security is predicted to run out in 2037… so most of us will never get to use the benefits of it despite still paying into it. We’re totally fucked, lotta people are gonna not be able to retire.

Considering it is a lottery, it was bound to happen eventually.
Dec 26 2021 9:10PM
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qazwsxedc34
Posts: 2918 - Karma: 2,182
Abomber22Total fuckwad.
Not half, total.

Should have known what was going on in 2019 and maybe you could have made some money off the pandemic instead of losing it all. Listen to rich folks, they know what they're talking about.
Dec 26 2021 9:12PM
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DominatorJacques
Posts: 11231 - Karma: 76,325
HypeBeastSeriously though. Is it me or does everything seem like it's headed right for the shitter and all those eviction moratoriums and stimulus checks and student loan pauses did was prolong the inevitable?

I know they say the housing market won't crash like 2008. OK, so explain how this trajectory will be sustained.

Some other stuff...

Rent prices are astronomical on top of stagnant wages.

People have trillions in student loans, and many can't afford to pay them.

Trillions in auto loans. You've got people driving cars that cost more than they make in a year.

This is all on top of the lavish lifestyles and having to have brand new everything and the gratification that comes with it.

Medical bills? Good luck.

Retirement savings? Americans have practically none.

Emergency savings? LOL


I was bored and took a look at housing prices in a few areas that I've considered moving to in the future. Holy fucking fuck. There are entire cities and towns I can't even afford now, but was able to just 6-12 months ago. I'm neither poor nor rich however my income puts me above the 90th percentile. You're telling me that only that 10% is responsible for these price increases and still buying homes? Doubt it. It's probably that plus kids buying homes they can barely afford with lenders passing out loans on max debt to income ratio applicants. Who the fuck is paying $3-400+/sq ft? That's a great way to buy a house you'll have to live in til you die. Or foreclose... Jesus. Affordability is a relative term to an extent but our spending as a society is unsustainable. The whole reason I bought a house 2 yrs ago was because apartment rent was unsustainably increasing and a money pit.


I looked at current listings in my own city just for shits. Look at this entire screenshot. It might seem affordable but the value is dirt. This is an area I wouldn't buy a house in if it cost half that much and you put a gun to my head. These are prices in literally the most dangerous area of Columbus. Who is paying for this garbage; it's not like the houses are even nice enough or have the bones to rejuvenate like they do in the hoods downtown. The people living here (prior to the increase) can't afford half what these homes cost. This is the type of place where stray bullets fly through windows and kill children. Don't let the Kroger deceive you. That's a bad area.






Idk I felt like ranting but also what the fuck people?!

Tldr: this was all a joke. Go buy a lifted truck and pimp that ride.


https://www.newschoolers.com/videos/watch/1023960/Pimp-My-Ride-V-6-Dodge-Wagon-at-Autozone


HypeBeastOooo I did forget about that worthless 2 trillion dollar waste of money that went poof overnight. What a great idea..


https://www.newschoolers.com/videos/watch/1023961/South-Park---Bank-Screws-Stan--And-its-Gone--Poof-----Margaritaville


.frenchydone

It is done.
frostedTipWhat goes up… must also come down


https://www.newschoolers.com/videos/watch/829229/Spin-To-WIn-
Dec 26 2021 9:48PM
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WoFIowz
Posts: 9788 - Karma: 72,404
Young_pattyYeah, the cool thing too is social security is predicted to run out in 2037… so most of us will never get to use the benefits of it despite still paying into it. We’re totally fucked, lotta people are gonna not be able to retire.

Yeah but a lot of people could be better off if they simply put into retirement early and consistently rather than buying fancy new shit all the time. I have more than the average 60 year old does in retirement savings and I'm 31; I no doubt have double what my parents who are about to retire have AND their house isn't even close to being paid off. It's sad but I learned from their mistakes at least. Only wish I started sooner and not at 26. People complain they don't have extra money but spend it on all sorts of frivolous shit; if you're diligent and put it on recurring withdrawal or to come out of your paycheck, eventually you will learn to live without that extra money. If social security exists by some miracle, it will be my spending money for fun shit when I'm retired. Otherwise not banking on it like a lot of folks do.
Dec 27 2021 1:41AM
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Casey
Posts: 7819 - Karma: 23,890
PeppermillRenoTyranny is typically followed by a depression. I'm not sure if poeple are going to wake up and see that the boosters are doing more harm than good or just demand more restrictions and more boosters for a couple years until its way too hard to ignore.

The fake war on Iraq ended with an economic depression. The same thing is probably coming. I'd be wary of the investment vehicles that have done phenomenally well since the pandemic hit (crypto and stocks.)

Inflation will hide certain things while at the same time making them worse for every day Americans. (Oh look my house went up in value awesome I'm making money even though my grocery bill just doubled they aren't related lololol.)


I mean, not necessarily disagreeing but my gas bill is like 100 dollars a month higher than when gas was cheap and if you believe Zillow my house is appreciating 30-40 grand a month and has been for like 18 months straight it’s insane.
Dec 27 2021 1:53AM
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WoFIowz
Posts: 9788 - Karma: 72,404
CaseyI mean, not necessarily disagreeing but my gas bill is like 100 dollars a month higher than when gas was cheap and if you believe Zillow my house is appreciating 30-40 grand a month and has been for like 18 months straight it’s insane.


How much is your house worth ffs. That's a lot per month lol
Dec 27 2021 2:02AM
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PeppermillReno
Posts: 4780 - Karma: -646
CaseyI mean, not necessarily disagreeing but my gas bill is like 100 dollars a month higher than when gas was cheap and if you believe Zillow my house is appreciating 30-40 grand a month and has been for like 18 months straight it’s insane.



Are you selling your house (and not needing to buy another) I'm really not sure how that benefits you. Lots of shit will probably happen between now and when you sell it.

When the 2008 economic slowdown hit the 'group think' about the economy being bad and there being no jobs made shit worse. That hasn't started yet. There are tons of jobs around and everything.

I don't think it will get that bad. I think the bad and really big one is the one after in 15-20 years but that could be wrong.

Noone has a clue what the fuck is going on with this virus after 2 years and its clear the vaccines are doing more harm than good at this point even if they do work which I don't think they do they wear off after a month and the side effects are significant. The media and Brandon are going to try and stick as many people as many times in the next 3 years until hes voted out and that might not even happen. We also really need Trump to die and go away he'll fuck up the election and lose if he runs or become an independent and it'll be Brandon or someone just as evil.

The rest of the world dick rides the United States too. Don't look to them for strength those countries are worse and have proven to be pathetic. George Floyd had absolutely nothing to do with any other country it was 100% a domestic issue (those countries all have their own race things depending on which and noone in the USA gives a fuck about foreign race relations) and people are still fucking kneeling for him in Europe. Russia invading Ukraine and China invading Taiwan could bring about some economic hardships for a lot of people. No one will do shit about either they are the only countries with militaries that aren't woke and pathetic.
Dec 27 2021 2:15AM
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WoFIowz
Posts: 9788 - Karma: 72,404
CaseyI mean, not necessarily disagreeing but my gas bill is like 100 dollars a month higher than when gas was cheap and if you believe Zillow my house is appreciating 30-40 grand a month and has been for like 18 months straight it’s insane.

Also gotta add, with your house having appreciated 540-720k by that rate you listed above, why not sell it and live in an apartment til the market cools off in x amount of years? That's a butt load of money
Dec 27 2021 2:41AM
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Rparr
Posts: 5507 - Karma: 44,643
holy fuck dude I used to live in that exact part of columbus and let me tell you those houses are worth nowhere near that.
Dec 27 2021 4:38AM
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Casey
Posts: 7819 - Karma: 23,890
HypeBeastHow much is your house worth ffs. That's a lot per month lol

We bought it for 430k in 2014 and now it’s worth about 1.6 to 1.8 mil kind of hard to say exactly.
PeppermillRenoAre you selling your house (and not needing to buy another) I'm really not sure how that benefits you. Lots of shit will probably happen between now and when you sell it.

When the 2008 economic slowdown hit the 'group think' about the economy being bad and there being no jobs made shit worse. That hasn't started yet. There are tons of jobs around and everything.

I don't think it will get that bad. I think the bad and really big one is the one after in 15-20 years but that could be wrong.

Noone has a clue what the fuck is going on with this virus after 2 years and its clear the vaccines are doing more harm than good at this point even if they do work which I don't think they do they wear off after a month and the side effects are significant. The media and Brandon are going to try and stick as many people as many times in the next 3 years until hes voted out and that might not even happen. We also really need Trump to die and go away he'll fuck up the election and lose if he runs or become an independent and it'll be Brandon or someone just as evil.

The rest of the world dick rides the United States too. Don't look to them for strength those countries are worse and have proven to be pathetic. George Floyd had absolutely nothing to do with any other country it was 100% a domestic issue (those countries all have their own race things depending on which and noone in the USA gives a fuck about foreign race relations) and people are still fucking kneeling for him in Europe. Russia invading Ukraine and China invading Taiwan could bring about some economic hardships for a lot of people. No one will do shit about either they are the only countries with militaries that aren't woke and pathetic.

Well, we considered cashing in and trying to move somewhere in the area for kind of that exact reason, decrease the mortgage payment, get a bunch of cash in the bank for some lifestyle stuff or whatever- but ultimately there is so little for sale in our area and the market is so hyper competitive that a contingent offer was just never competitive so we decided to put our effort on our place and do some remodeling that we weren’t going to do if we planned on moving. My house was built by a bookkeeper of a long gone mill about 100 years ago, now the neighborhood is rich AF so no one would actually live here they’d just demo the house and build a McMansion. Hell I would do that if I could get someone to lend me a million bucks. But the appreciation is good for your appraised equity which allows you to borrow (HELOC) against your house and get cash, in our case it’s for improvements so theoretically the appreciation will outpace the interest rate l, which is pretty low.
HypeBeastAlso gotta add, with your house having appreciated 540-720k by that rate you listed above, why not sell it and live in an apartment til the market cools off in x amount of years? That's a butt load of money

I got kids and I like where I live it seems dumb to upend my life to try and recreate the ROI I am currently getting by just sitting here and doing nothing. Plus I would never rent again it sucks and is a waste of money. Never sell a property
Dec 27 2021 3:28PM
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VTshredder69
Posts: 2558 - Karma: -7,957
When 40% of all US Dollars are printed in the past 12 months you know you're fucked.

Invest in crypto
Dec 27 2021 3:31PM
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DominatorJacques
Posts: 11231 - Karma: 76,325
It's all a house of cards. Crypto is too.
Buy a house to live in, not because you think it will make you money.
If it does one day, fine, but don't count on it.
Dec 27 2021 3:41PM
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WoFIowz
Posts: 9788 - Karma: 72,404
CaseyWe bought it for 430k in 2014 and now it’s worth about 1.6 to 1.8 mil kind of hard to say exactly.

Well, we considered cashing in and trying to move somewhere in the area for kind of that exact reason, decrease the mortgage payment, get a bunch of cash in the bank for some lifestyle stuff or whatever- but ultimately there is so little for sale in our area and the market is so hyper competitive that a contingent offer was just never competitive so we decided to put our effort on our place and do some remodeling that we weren’t going to do if we planned on moving. My house was built by a bookkeeper of a long gone mill about 100 years ago, now the neighborhood is rich AF so no one would actually live here they’d just demo the house and build a McMansion. Hell I would do that if I could get someone to lend me a million bucks. But the appreciation is good for your appraised equity which allows you to borrow (HELOC) against your house and get cash, in our case it’s for improvements so theoretically the appreciation will outpace the interest rate l, which is pretty low.

I got kids and I like where I live it seems dumb to upend my life to try and recreate the ROI I am currently getting by just sitting here and doing nothing. Plus I would never rent again it sucks and is a waste of money. Never sell a property

To each their own, but man I was excited my house is up $100k in 2yrs. Ur appreciation value is insane lol. What city is this in?


DominatorJacquesIt's all a house of cards. Crypto is too.
Buy a house to live in, not because you think it will make you money.
If it does one day, fine, but don't count on it.

Yeah exactly. I bought a house cuz apt rent was the cost of a mortgage and a home comes with so much more space, a yard, freedom, and equity rather than burning that money every month.
Dec 27 2021 6:56PM
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Casey
Posts: 7819 - Karma: 23,890
HypeBeastTo each their own, but man I was excited my house is up $100k in 2yrs. Ur appreciation value is insane lol. What city is this in?



Yeah exactly. I bought a house cuz apt rent was the cost of a mortgage and a home comes with so much more space, a yard, freedom, and equity rather than burning that money every month.


If when we bought our place someone came along and said hey you’ll appreciate 100k in the next two years we would have been like Hell Yeah that’s fucking awesome. Jacques is 100 percent correct it’s not like we had some special knowledge or anything to make it happen, we just happened to live in a town dominated by Microsoft Amazon and google that has had essentially unlimited foreign investment pouring in since the 2008 crash. As prices rise, entire subdivisions become investment opportunities and a company will come in and buy every house on a block and build mansions for tech workers and they sell in a day or two. Look at Seattle, Bellevue, Kirkland, Redmond, Issaquah, Sammamish it’s all off the charts insane.
Dec 27 2021 7:34PM
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DominatorJacques
Posts: 11231 - Karma: 76,325
HypeBeastTo each their own, but man I was excited my house is up $100k in 2yrs. Ur appreciation value is insane lol. What city is this in?



Yeah exactly. I bought a house cuz apt rent was the cost of a mortgage and a home comes with so much more space, a yard, freedom, and equity rather than burning that money every month.

Yes, if one can buy rather than rent, that's the ticket for sure. I did. I also own a lot next door to my "house".
Why pay someone else's mortgage if you can pay your own.
My "house" is not worth much, but the land is insane!
Dec 27 2021 10:17PM
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Lippamani
Posts: 1272 - Karma: 13,202
Duh
Jan 2 2022 3:31PM
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iH8pow
Posts: 1774 - Karma: 7,479
Banks were receiving trillions in repo loans well before COVID even started, been facing a 2008 all over again
https://wallstreetonparade.com/2022/01/theres-a-news-blackout-on-the-feds-naming-of-the-banks-that-got-its-emergency-repo-loans-some-journalists-appear-to-be-under-gag-orders/
Jan 3 2022 3:43PM
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elcheapo
Posts: 3449 - Karma: 13,975
I hope so, it's our only hope for shorter lift lines
Jan 4 2022 12:33AM
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SmokedGouda
Posts: 1028 - Karma: 5,757
Stop worrying and get a job or continue at your current job if you have one. The issue isn't money but jobs. Millions of positions becoming unfilled due to unemployment benefits and relief still being used. One study suggests that we're in the midst of a retirement craze. A lot of people are refinancing their homes in such a skyrocketing market at older ages that they choose to retire early because of the shitty global situation right now leading to a huge shortage in the workforce from tech all the way to freight which is seeing astronomical employment shortages causing ports to become backlogged along with shitty California restrictions on imports from Asia which is our biggest import market. Another part is the fear that some feel rejoining the workforce during covid along with others who choose not to get vaccinated while companies left and right are beginning to require such or compulsory testing every week. Businesses need to re-attract workers given the shortages being experienced at the moment. The only way to fix the supply chain issues would be from volunteers and owner op drivers changing focus to the west coast ports by possibly increasing the compensation for picking such a load from an area that desperately needs it.

**This post was edited on Jan 4th 2022 at 3:21:17am
Jan 4 2022 3:19AM
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VTshredder69
Posts: 2558 - Karma: -7,957
Thanks Biden. And all you idiots who voted for him.
Jan 4 2022 2:24PM
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T.L.
Posts: 4729 - Karma: 3,008
Maintain a stable/in demand job, become debt free, aquire diverse assets, be comfy.

It's going to get really bad.
Jan 4 2022 2:30PM
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DominatorJacques
Posts: 11231 - Karma: 76,325
VTshredder69Thanks Biden. And all you idiots who voted for him.


The POTUS is but a puppet for those actually in charge. You gotta' go deeper!


https://www.newschoolers.com/videos/watch/1025210/George-Carlin--They-own-you
Jan 4 2022 2:57PM
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MiIfHunter
Posts: 3978 - Karma: 4,260
DominatorJacquesThe POTUS is but a puppet for those actually in charge. You gotta' go deeper!


https://www.newschoolers.com/videos/watch/1025210/George-Carlin--They-own-you

GARBAGE IN…….GARBAGE OUT!!!

https://www.newschoolers.com/videos/watch/1025211/Genius---The-Public-Sucks---Look-in-the-mirror-voters-
Jan 4 2022 3:00PM
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DominatorJacques
Posts: 11231 - Karma: 76,325
George tells truth. Sad he is gone.
MiIfHunterGARBAGE IN…….GARBAGE OUT!!!

https://www.newschoolers.com/videos/watch/1025211/Genius---The-Public-Sucks---Look-in-the-mirror-voters-
Jan 4 2022 3:04PM
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MiIfHunter
Posts: 3978 - Karma: 4,260
DominatorJacquesGeorge tells truth. Sad he is gone.


Other than being prob the best comedian, he was the last great social commentator.
Jan 4 2022 3:06PM
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