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Latest 30 year interest rates are now just below 6.3% as of today.
Amazing when one considers I locked into a 2.75% rate in early 2021 when I bought the house. May never see rates that low again in our lifetimes. The only advantage to today's inflation is that it's eating away sharply at the value of my mortgage.
Amazing when one considers I locked into a 2.75% rate in early 2021 when I bought the house. May never see rates that low again in our lifetimes. The only advantage to today's inflation is that it's eating away sharply at the value of my mortgage.
Inflation is the entire reason home ownership has value. Without inflation it would be a depreciating asset.
I was around in 1980. I NEVER saw price hikes like I'm seeing now. My standard of living didn't change like it's changing now. I don't ever recall seeing rents spike an equivalent of $1500 to $3500.
And today...our economic woes are all due to the Republicans. If only they passed Joe's plans.
I guess it's not Putin's fault this week
https://www.cnn.com/2022/06/14/polit...ion/index.html
"The problem is Republicans in Congress are doing everything they can to stop my plans to bring down costs on ordinary families. That's why my plan is not finished and why the results aren't finished either," Biden said.
Inflation is the entire reason home ownership has value. Without inflation it would be a depreciating asset.
Correct, housing is a hedge against inflation. Interesting how we also saw a large boom in new housing construction in the late 1970's as 1978 was the first year of no lead based paint for housing units. It was a good hedge for people that bought before the extreme spike in interest rates a few years later.
In fact, most of the 1980's was fairly flat for housing price growth overall (first half featuring astronomical interest rates, second half feature the S&L crisis and 1987 stock market crash).
I was around in 1980. I NEVER saw price hikes like I'm seeing now. My standard of living didn't change like it's changing now. I don't ever recall seeing rents spike an equivalent of $1500 to $3500.
I graduated high school in 1982.
Now I know why my parents always seemed to be in a bad mood.
Having a Republican Senate and a Republican in the white house is the only thing that stopped this from happening sooner with the least fiscally responsible speaker of the house in US history holding the power of the purse.
Firing Pelosi by having Republicans take back the house and Senate is the only way to turn things around.
Correct, housing is a hedge against inflation. Interesting how we also saw a large boom in new housing construction in the late 1970's as 1978 was the first year of no lead based paint for housing units. It was a good hedge for people that bought before the extreme spike in interest rates a few years later.
In fact, most of the 1980's was fairly flat for housing price growth overall (first half featuring astronomical interest rates, second half feature the S&L crisis and 1987 stock market crash).
Had to drag up the inflation table from so long ago....
Seems inflation spiked right after the oil embargo 1973.
I remember the odd/even days and my driving privileges were non-existent.
Not sure about the inflation during the Carter days, but this is inflation is designed. If we have people running the system that want inflation, then who knows if it will get fixed.
If you want to recover from inflation, put different people in charge that aren't designing the economy to inflate.
And what does it actually mean to not recover from inflation? Do we stop being a country?
We become poor. Permanently.
Like Argentina.
No one "designed this inflation".
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