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It talks about the value of pension fund holdings increasing.. which sorta flies in the face of Len Penzo's post today. His report suggests a huge downfall:
The great recession had little to do with housing cost per se, except that unqualified buyers were being sneaked in to the mortgagee pool.
The problem today, and it has been increasing over several decades, is that the price of housing is going up much faster than inflation. Adjusted for inflation, the cost of a house has increase over 4X since about the 1960's. Part is because people want bigger houses, but part is because there is high demand from a much bigger population. And because an average mortgage might double the cost of a house it is a real problem that is not going away.
The great recession had little to do with housing cost per se, except that unqualified buyers were being sneaked in to the mortgagee pool.
The problem today, and it has been increasing over several decades, is that the price of housing is going up much faster than inflation. Adjusted for inflation, the cost of a house has increase over 4X since about the 1960's. Part is because people want bigger houses, but part is because there is high demand from a much bigger population. And because an average mortgage might double the cost of a house it is a real problem that is not going away.
Do you have the data/site for this claim?
Not bashing... I was under the impression that housing prices were tracking very similarly to inflation over the long run, and that 2018 prices are where they "should" be (national average... not SF, Seattle, NYC, etc.)
sometimes it is hard to really tell what is going on with credit card debt . i heard the other day credit card debt peaked out but i wonder how much of that debt is either zero percent or paid off each month .
there is a point craze out there and even we are charging as much as we can every month . even things we would have never charged in the past . it is is so worth it because there are things we get as much as 7-1/2% back .
we used to pay cash for most living expenses and food . but since we got the sapphire reserve card it is so worth charging everything on our other chase cards and shifting the points to the sapphire . so many others do the same today but carry no debt month to month. we have enough points to go to Europe free just from charging the same stuff we always buy . jamie dimon said chase under estimated how little interest customers would actually pay on the premium cards .
jamie dimon said even though chase lost 250 million on the sapphire reserve card from the perks they made much of it up by increased activity on all the other chase cards which customers use more and shift points to the reserve. many do the same with amex and boa which have lucrative points perks too .
so i think taking a snap shot at any point in time should reflect a whole lot more credit card debt under these circumstances but that is good debt to the consumer who pays it off each month .
Last edited by mathjak107; 03-11-2018 at 03:16 AM..
I can understand if these debts are medically related, since medical costs has increased substantially. However, if these debts are personally related, then YIKES....
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