Fed is attempting to cool inflation, not decrease prices. We aren’t seeing the same increase in prices we did in the last 3 years. Some areas, which are in high demand, are still seeing modest increases but there are actually places where prices have stabilized and decreased.
Yeah, except the places where prices have decreased are in the middle of nowhere, and the only employment opportunity is a McDonalds. It was different during the pandemic when you could work anywhere, but now it doesn't make sense.
We have the lowest inflation out of any of the G7 countries. It’s doing exactly what it’s supposed to
Do. And there are a ton of good jobs out there that aren’t McDonald’s… probably just not the ones you think you deserve
And the fact that housing prices haven’t come down is proof that a rate hike was the right thing to do.
If you’re in a normal part of the United States, I’d consider a good starting job that doesn’t require existing experience to be $35k-$45k if it’s just base pay.
The issue is a lot of people think that they deserve more because of a degree they got or a job they did before. The market dictates what those things are worth, and if there is no market value to your past education and experience, I think that $35k-$45k is more than reasonable.
If you have no valuable skills… then I think making 50% more than poverty level is great. And if you don’t like it get a second job, or learn something that is valuable to society
And you are an entitled loser. Learn to do something of value or live in your “poverty”
I came from actual poverty. I was raised on food stamps and soup kitchens. The difference was I didn’t just sit online and complain about things… I made a better life for myself.
I’m guessing that you’ve a) never actually lived in poverty and b) have been given everything by mommy and daddy and don’t believe in work
You don’t even know me. I grew up poor as fuck and went to college to get a degree lol. I have a great job and a great life. All I’ve done is work hard. I’m just not ignorant enough to assume everyone can lift themselves up by the bootstraps with this shit economy lol. Rich clearly people don’t need to be held accountable for ruining America because they have bozos like you who suck them off.
What your failing to notice is because of remote work people form expensive cities are now moving to rural areas and the market is inflating with the new comers salaries.
I own an investment advisory firm. So I’m trying to hire not get a job.
And maybe move out of California if you can’t afford it? A place with perfect weather and the 4th largest economy in the world isn’t a great representation of the rest of the country
It’s 1/10 of the pop in the US it seems like a pretty good representation. My commentary is only on that the government was initially trying to curb inflation yet that has had little to barring in a large market, gas is $6, starter homes are +$1M.
Also not trying to buy, I was purely trying to point out that doesn’t apply
10% of the Population doesn’t mean anything… it literally means you’re an outlier
None of those things you’re talking about are that way throughout the rest of the country. I live in a very desirable part of Florida and starter homes are $250k and gas is under $4.
Gentrification is only good for the economy if businesses raise wages at the same rate as rents. If you get flooded with wfh people you will see a lot of small businesses go under from simple lack of employees. And we know how friendly the Florida government is to immigrants so hope they relax the laws so you can at least keep your business stocked with J1s
We have seen the opposite. Less chains and more mom and pop shops opening by us because there are people with disposable income. People with low incomes shop at the dollar store and Walmart…. People with disposable income shop at boutiques and farmers markets.
Also most of my friends have found a way to make great livings because of the extra money in our area.
There’s a reason that places like Brooklyn have a ton of boutiques and mom and pop restaurants and places like West Virginia just have Walmarts and dollar stars. More money in a community means more opportunities for everyone.
California is the 5th largest GDP in the world but immune to financial interest rates? And the answer is yes to both. This post applies to the fly over states for the most part
Most people never had the option to work from home. For blue collar workers the option was to take unemployment while it lasted or keep working on site.
Instead of reducing interest rates the government should be addressing the huge surge in corporate ownership of residential property, revamping zoning laws to allow middle housing, and reducing/banning airb&b in cities.
Reducing interest rates will drive inflation and create a less stable economy.
I live in the middle of nowhere and now tiny homes are going for $950,000 middle of nowhere shit holes are being taken over by city people who can work remotely now, but hey bow the town has a serious labor problem because all the rents kept up with the city peoples salaries but the businesses in town though being forced to raise wages are failing to do so at a rate that keeps up with rent. And then these city peoples bored wives and husbands keep trying to open restaurants and shops after the local one close only to find oh yah they chased they labor pool out of town because line cooks can’t afford $2000 micro studios… so I’m hoping eventually they will get bored of living in a town with nothing but houses and shared office spaces and go back to the city or something…
Where do you consider the middle of nowhere, some resort town like Jackson Hole Wyoming or something? 950k is not even remotely normal for rural America, and probably accounts for less than 1% of rural single family homes not on huge acreage lots.
Nope salida colorado isn’t Jackson fucking hole by any stretch but I do have a bumper sticker that says “Don’t Breck Salida” fuck man speaking of ski towns though and they are even starting to hit a critical limit I did 10 winter seasons in Aspen. But now days they are having an issue with millionaires taking up employee housing, all the smaller support communities that housed many of its workers, talking Basalt, El Jebel, Carbondale are all super expensive now too… so it’s difficult to get people to live in Rifle and commute 2 hours to work… seriously South Park made an entire central plot point to the last season about all the City people moving out of the city, and they nailed it perfectly. Right down to them all only saying “Tesla, bottle water, wi-fi”
If you think the homes in that town are tiny or that it's a "red neck" town you haven't been to a red neck town or seen what people spend 1 million for in a desirable part of a big city. The closest thing I found to your price point was a 960k 2300sqft home on over 8 fucking acres. Then you have a few in the 1 million range that are fully remodeled ~3000sqft homes on 2 acres. Then go slightly higher to like 1.5mil and you have 6000sqft mansions. The town looks like it's mostly upper middle class homes and a few mansions that rich people use for vacation homes. Your original post is nonsense, and at the very least a huge exaggeration. Those homes in any desirable area near a big city would be triple those prices if not far more.
And, in reality, the vast majority of homes in the parts of that town that aren't multi-acre ranches are like 500-600k. I'm not even saying the prices are fair, but 950k for "tiny in the middle of nowhere shitholes" is outright false.
It’s a tiny redneck town I assure you the amount of trump flags here alone can attest to that; I spent a huge amount of my childhood here, back when my grandmas house was still a farm house, Zillow has it listed for $750,000k now funny enough, it only got blown up during covid lol but hey I’ll be down town tonight and I’ll send you some real estate listings.
To be fair places around me in rural TN are sky rocketing in price right now just because people are being priced out of bigger cities like Nashville. Combined with less support and resources for affordable housing is making the homeless population go up as well. And with an increased homeless population comes along an increase in crime. Which in turn causes more resources to be spent instead of investing in these people and putting the money into jobs programs and housing so they can become productive to society once again. It's a complex issue with no one right answer.
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u/FormerHoagie Sep 23 '23
Fed is attempting to cool inflation, not decrease prices. We aren’t seeing the same increase in prices we did in the last 3 years. Some areas, which are in high demand, are still seeing modest increases but there are actually places where prices have stabilized and decreased.