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This is a scam. We have decades to prepare for "summer driving season". Prices go up when there are shortages or unforseen circumstances. "Summer driving season" is neither.
I don't care how prepared one is, there are still marginal costs to ramp up production. People want more money for longer hours and standby labor is not as productive. And even if it is a scam lots of people are trying to scam the oil companies out of their "excess profits". So I would not blame them.
But it gets pretty complicated. As we can see fuel prices were high when the economy was crap.
Of course the reason in that case was quite sad. When housing collapsed and no one trusted our financial system , people moved to gold and oil. Oil was being used as an investment instrument.
We are returning to normal rates. The economy is booming, can handle the increases and it keeps inflation in check.
Anything below 6% is still a bargain. You can whine when we hit 12-16% like we did when many of us bought our first homes.
Good job Trump.
Yeah and people were still able to make it work it seems . Also I’m sure many people including seniors would love if if they could make 12% in a savings account like back in the day instead of under 1% like it is now .
Low interest rates also encourage riskier and speculative investing in order to seek higher returns .
Well you are in RE right? surely you see the danger of an imploding housing market due to interest rates making these historically unaffordable housing prices even more unaffordable.
Normally i would agree under 6 is fine.
But RE pricing is not normal it is massively inflated in many states and higher rates will hurt pricing. I know of course that historically that is not accurate, but this time i belive it is and i do very well getting these things correct.
Our economy is too dependent on cash flows from rising asset prices, especially RE.
I don't care how prepared one is, there are still marginal costs to ramp up production. People want more money for longer hours and standby labor is not as productive. And even if it is a scam lots of people are trying to scam the oil companies out of their "excess profits". So I would not blame them.
But it gets pretty complicated. As we can see fuel prices were high when the economy was crap.
Of course the reason in that case was quite sad. When housing collapsed and no one trusted our financial system , people moved to gold and oil. Oil was being used as an investment instrument.
What is the complaint? The price of oil is greatly affected by a ton of things that have absolutely nothing to do with the fundamentals of price.
But RE pricing is not normal it is massively inflated in many states and higher rates will hurt pricing. I know of course that historically that is not accurate, but this time i belive it is and i do very well getting these things correct.
A lot of the higher home prices is due to investors snapping up homes due to cheap rates. Higher rates may cause these investors to go elsewhere and actually make more homes affordable for first time home buyers.
Cracks me up how people don't understand anything about economics. The interest rates have been artificially low. Raising rates staves off inflation in a booming economy.
What is the complaint? The price of oil is greatly affected by a ton of things that have absolutely nothing to do with the fundamentals of price.
I am not complaining. However the never Trumpers are trying to suggest all things are horrible because Trumps makes everything horrible. And yet, compared to just a few years ago, gas prices are quite tame.
Well you are in RE right? surely you see the danger of an imploding housing market due to interest rates making these historically unaffordable housing prices even more unaffordable.
Normally i would agree under 6 is fine.
But RE pricing is not normal it is massively inflated in many states and higher rates will hurt pricing. I know of course that historically that is not accurate, but this time i belive it is and i do very well getting these things correct.
I hate to say it but, real estate prices do need to come down some. Cheap money has led to this massive increase in home valuations and I don't think the true value matches what the prices are. Sure, a house will appraise for $300k but that doesn't mean that is what that same house should actually sell for. Real estate ran up hard in the early to mid 2000s and it's doing it again. I think the market needs to be slowed down a little bit in order to keep from having a repeat of the bubble popping. I think this even if it means some people will lose some of their perceived equity. The question could be, lose 5% or lose 40%? Sadly, this will hurt me and my business but I think it needs to be done. Cut off a foot to save the leg.
I am not complaining. However the never Trumpers are trying to suggest all things are horrible because Trumps makes everything horrible. And yet, compared to just a few years ago, gas prices are quite tame.
My arguments are the same ones I've argued for years.
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