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The big problem with the Fed is it creates the very situations which it then responds to. It raises rates to slow down an economy (hopefully not completely stop the growth but it usually does stop it) and to jump start the economy it lowers rates which leads to the former. It is a back and forth cycle.
IMO the Fed destabilizes the market because they always over-do it. IMO the recent prime increase caused the downturn when the market was going good.
They should focus on inflation. Inflation is worse than the gummint says, but not that bad.
Location: Was Midvalley Oregon; Now Eastside Seattle area
13,080 posts, read 7,523,914 times
Reputation: 9814
^Housing prices was running wild in the Seattle area. Although there was a housing shortage in 2017, local housing prices has moderated considerably to levels of late 2017/early 2018. Even with the price reductions (-$80k reduction on average price), the monthly cost to buyers is probably the same as when mortgage rates was lower in 2017. For those who can buy with a substantial down pay or cash, the homes are attractive. Seattle area is booming with completed and near completion apartment buildings... I am going to do some open house-apartment cruising today. Pies and cookies my diabetes will cause me to ration the goodies till turkey day.
Last edited by leastprime; 11-10-2018 at 08:07 AM..
Housing demand is through the roof in Los Angeles. I always go to open houses, and since I'm a landlord I have a good grasp of real estate. I always chat with them Realtor to "Realtor could'a been me." My chats have indicated that my LA market zip code is not as hot as it has been but still sometimes bidding wars. One recent sale closed less than 30 days from listing date. Like they say, all real estate is local. Or "Location, location, location." Of course for REITs large ones are probably national scope (maybe).
Prices are still shooting into the stratosphere in Los Angeles. Higher interest rates can only hurt the housing market: yet another reason I hate the prime increases. Townhouse development is also hot, gentrification is hot too. Apartments: in a nice area a 1BR can go for maybe $1,700/month! And that is in a generic nice area, say on Reseda Blvd. in Northridge for those of you familiar with my area. My buddy lives at Reseda and Lassen.
Maybe it's like the guy that fell off the Empire State building. "80th floor and things are fine... 70th floor and things are fine... 60th floor and things are fine..."
I wonder how much money you lose out on by thinking the economy is “fake” for 18 year chunks. Assuming you live a good life of say 80 years, you waste huge stretches of your wealth building opportunity in mindless fear.
Even if you think it’s being fraudulently kept up by central banks, the fact that they can do it for decade plus stretches in your eyes should say that they CAN prop things up. The central banks can’t “run out of money” in the future considering they can create it from nothing and they all float against each other.
Housing demand is through the roof in Los Angeles. I always go to open houses, and since I'm a landlord I have a good grasp of real estate. I always chat with them Realtor to "Realtor could'a been me." My chats have indicated that my LA market zip code is not as hot as it has been but still sometimes bidding wars. One recent sale closed less than 30 days from listing date. Like they say, all real estate is local. Or "Location, location, location." Of course for REITs large ones are probably national scope (maybe).
Prices are still shooting into the stratosphere in Los Angeles. Higher interest rates can only hurt the housing market: yet another reason I hate the prime increases. Townhouse development is also hot, gentrification is hot too. Apartments: in a nice area a 1BR can go for maybe $1,700/month! And that is in a generic nice area, say on Reseda Blvd. in Northridge for those of you familiar with my area. My buddy lives at Reseda and Lassen.
Maybe it's like the guy that fell off the Empire State building. "80th floor and things are fine... 70th floor and things are fine... 60th floor and things are fine..."
Talk about insane demand for housing .we are in the villages in Florida checking it out . They sell 3000-4000 homes here a year . We went to see the models today on the trolley. We had to go very early to avoid the long lines .
About the best you can do is negotiat an option or so on a new hom
The central banks can’t “run out of money” in the future considering they can create it from nothing and they all float against each other.
Maybe you are getting close to realizing that our US dollars are not worth the paper they're printed on. Nice paper though. Probably great for origami if you could get it before they ink it. I wish I could get 8x11 sheets for my art hobby. I'll have to see how cash accepts ink from a technical pen. (My best artist tool, Koh-I-Noor Rapidograph technical pens. I do pen & ink art. PM me and I'll give you a link to my art page.)
Location: Was Midvalley Oregon; Now Eastside Seattle area
13,080 posts, read 7,523,914 times
Reputation: 9814
Quote:
Originally Posted by Lovehound
Prices are still shooting into the stratosphere in Los Angeles. Higher interest rates can only hurt the housing market: yet another reason I hate the prime increases. Townhouse development is also hot, gentrification is hot too. Apartments: in a nice area a 1BR can go for maybe $1,700/month! And that is in a generic nice area, say on Reseda Blvd. in Northridge for those of you familiar with my area. My buddy lives at Reseda and Lassen.
Maybe it's like the guy that fell off the Empire State building. "80th floor and things are fine... 70th floor and things are fine... 60th floor and things are fine..."
Cheap vs Bellevue, WA. Got a flyer for an open house on newly completed building. 147(?) units. 1 Bedroom, $2200-2950/mn. plus $150/mn reserved underground parking space. Big incentives: $500 off first month. And a raffle for something. First payment Jan 01, 2019. I got free water, a cocktail, couple of fancy cupcakes, finger foods. Lots of new apartment buildings are coming on line in 2019 and those completed are trying very hard to lock in tenants now rather than later in an over competitive market.
Maybe you are getting close to realizing that our US dollars are not worth the paper they're printed on. Nice paper though. Probably great for origami if you could get it before they ink it. I wish I could get 8x11 sheets for my art hobby. I'll have to see how cash accepts ink from a technical pen. (My best artist tool, Koh-I-Noor Rapidograph technical pens. I do pen & ink art. PM me and I'll give you a link to my art page.)
The USD is the most powerful brand in the world. Your art? Not so much. Toss a $100 bill into the street in any country on Earth, and you’d see that it’s “worth the paper it’s printed on”.
Just because the fiat paper doesn’t have value, doesn’t mean it doesn’t represent a claim on real goods and services.
Cheap vs Bellevue, WA. Got a flyer for an open house on newly completed building. 147(?) units. 1 Bedroom, $2200-2950/mn. plus $150/mn reserved underground parking space. Big incentives: $500 off first month. And a raffle for something. First payment Jan 01, 2019. I got free water, a cocktail, couple of fancy cupcakes, finger foods. Lots of new apartment buildings are coming on line in 2019 and those completed are trying very hard to lock in tenants now rather than later in an over competitive market.
Wow, I'd love to trade my luxury view home in L.A. for that! ... Not.
I hope you got those cupcakes and finger foods appraised...
Quote:
Originally Posted by Thatsright19
Just because the fiat paper doesn’t have value, doesn’t mean it doesn’t represent a claim on real goods and services.
Nor does it mean it does represent any real goods or services. Today, yes. But tomorrow?
I hate art critics that criticize art they haven't seen. Do you do book reviews on books you haven't read?
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my diabetes will cause me to ration the goodies till turkey day.
