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Old 05-12-2022, 01:48 PM
 
570 posts, read 480,032 times
Reputation: 618

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Quote:
Originally Posted by bluesclues5 View Post
10% mortgage rates was in a different era, when the economy was actually stronger and housing prices weren't astronomically high.
One could argue that perpetual low interest rates create cheap money caused all kinds of asset bubbles.
Correct. Hardly an argument. That is fact. 1970s inflation? You still had reliance on US manufacturing. Today? Ship the job all over the world..and they do. Give me a reason why any private sector corp will feel obligated to hire in US if watching bottom line? The Jamie Dimon's of the world have been running with our taxdollars to expand in India. Every US corp is doing it, big and small. I am not sure people get this but tech folks got this rude awakening for 10 years.
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Old 05-12-2022, 01:53 PM
 
Location: PNW
7,714 posts, read 3,329,666 times
Reputation: 10903
Quote:
Originally Posted by CT_Yank View Post
Correct. Hardly an argument. That is fact. 1970s inflation? You still had reliance on US manufacturing. Today? Ship the job all over the world..and they do. Give me a reason why any private sector corp will feel obligated to hire in US if watching bottom line? The Jamie Dimon's of the world have been running with our taxdollars to expand in India. Every US corp is doing it, big and small. I am not sure people get this but tech folks got this rude awakening for 10 years.
only 10 years? No, at least 22 years (probably longer).

there were still pensions in the 70's.
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Old 05-12-2022, 02:01 PM
 
Location: Middle of the valley
48,581 posts, read 34,987,245 times
Reputation: 73942
Quote:
Originally Posted by CT_Yank View Post
Correct. Hardly an argument. That is fact. 1970s inflation? You still had reliance on US manufacturing. Today? Ship the job all over the world..and they do. Give me a reason why any private sector corp will feel obligated to hire in US if watching bottom line? The Jamie Dimon's of the world have been running with our taxdollars to expand in India. Every US corp is doing it, big and small. I am not sure people get this but tech folks got this rude awakening for 10 years.
And yet, right now, tons of manufacturing jobs are available, and they are having a hard time finding people to fill those positions.
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Old 05-12-2022, 02:08 PM
 
956 posts, read 512,604 times
Reputation: 1015
Quote:
Originally Posted by Oklazona Bound View Post
It could be done if it was subsidized with tax breaks and incentives. And newer ways of building homes.


https://ssir.org/articles/entry/inno...housing_crisis

Entekra, located in California and focused on off-site framing, focuses on increasing home building productivity and reducing time and costs. Stick-built framing of a typical 2,500-square-foot house generally takes a crew of five workers about 15 days (71 man-days) to complete, but with Entekra’s Fully Integrated Off-Site Solution (FIOSS) and a crane, the framing can be accomplished in just four days by a crew of four (14 man-days). This represents a productivity increase of more than 500 percent and reduces total build time by an average of 30+ days, with estimated savings for each house up to $25,000. FIOSS also contributes to a reduction in errors and reduces on site skilled labor needs.

Bingo 3D printers. I saw it on abc morning news before an NHL (love NHL return to ESPN and that great theme music) game a month or 2 back talking about solving the housing shortage with gigantic 3D printers to build homes.

But oh no it will never happen as it is too painful for home owners who use HELOCs and little money down and there homes as piggy banks and those greedy investors who think real estate should always be fast appreciating!! Feel so sorry for them edit... sarcasm!!!
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Old 05-12-2022, 02:14 PM
 
7,985 posts, read 3,918,759 times
Reputation: 14996
Quote:
Originally Posted by Wolverine607 View Post
Uhm yes there is. There was a big chip shortage and still ongoing affecting video cards bi time.
Irrelevant to housing.

Quote:
Originally Posted by Wolverine607 View Post
There has been a massive shortage of homes on the market for nearly 10 years now.
Incorrect. There has never been a shortage of homes -- not during the past 10 years, and certainly not now.

Quote:
Originally Posted by Wolverine607 View Post
I mean historically there is a 3-6 month supply of homes
Irrelevant.

Quote:
Originally Posted by Wolverine607 View Post
Since 2013, homes priced correctly have sold within hours or a day many with bidding wars above asking price.
Therefore proving those homes were most definitely NOT "priced correctly."

Quote:
Originally Posted by Wolverine607 View Post
Historically before 2013, that did not happen nationally very often.
Irrelevant.
Quote:
Originally Posted by Wolverine607 View Post
If there is no shortage of homes now or then or for the past 9 years, then there is also no chip shortage either in last 1.5 to 2 years and now cause its all supply and demand right???
The market for housing and the market for semiconductors have nothing to do with one another.

By the way, major semiconductor companies such as Intel Corporation have offered chips to Ford & GM & Chrysler/Dodge/Stellantis. The chips Intel can make are newer generation chips with more modern process technology and that are smaller. The big car companies don't want these newer chips; they want old chips that come out of old obsolete fabs using old obsolete process technology.
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Old 05-12-2022, 02:24 PM
 
7,985 posts, read 3,918,759 times
Reputation: 14996
Quote:
Originally Posted by bluesclues5 View Post
Stop being a history revisionist. Trump and his administration botched the covid response
Incorrect.

Quote:
Originally Posted by bluesclues5 View Post
not that I think anyone else would've done any better, but since Trump was the one in office then, I can only state for a fact that he did a horrible job.
You have a funny idea what a "fact" is. Regardless, you are incorrect.

Quote:
Originally Posted by bluesclues5 View Post
But it doesn't matter.
You seem to be spending a fair bit of time regarding something that, in your words, "doesn't matter."

Quote:
Originally Posted by bluesclues5 View Post
When China has the world's most stringent, draconian covid policy and they can't even stop the spread, then the rest of the world has no hope.
And yet we are doing relatively well now. Hardly "no hope." Evidence that the US's policy, with the benefit of 20-20 hindsight, was more appropriate than China's.

Quote:
Originally Posted by bluesclues5 View Post
But quite honestly, it was already in motion in 2014 when the US organized the Maidan coup so it might have been too little too late. Somebody high up wanted this to happen.
Putin's decision to invade Ukraine had nothing to do with the Maidan Uprising.
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Old 05-12-2022, 02:39 PM
 
6,385 posts, read 11,907,572 times
Reputation: 6881
Always gotta be someone to blame right? Nothing ever happens without "the man" doing this for nefarious reasons to take money out of the gullible common man's pocket, or so it seems if you read the posts here.
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Old 05-12-2022, 02:41 PM
 
2,346 posts, read 974,711 times
Reputation: 1428
Quote:
Originally Posted by Wolverine607 View Post
Yup same as PC video cards. People complaining that there are scalpers asking $2500 to $3000 for NVIDIA GeForce RTX 3090s when they MSRP for $1500 because of lack of supply. And they are not overvalued as buyers will pay $2500 to $3000 for them to get one. Its all supply and demand. It should be no different with housing, ye somehow people scream scalping unfair for video cards due to lack of supply and blame crypto miners for taking cards out of gamers hands and driving up prices, yet much less complain when investors bid up price of homes to price out ones who want to own their own home to live in.

Its all supply and demand and buyers set prices not sellers. Its no different for homes, video cards, food, or gasoline or automobiles. Yet somehow people think housing should be different and should always go up unlike those other things??? Uhm NO. Housing is no different than those other things I mentioned. Its all supply and demand and should not always go up like those other things. Only differences is housing even in late 2008 to early 2013 is obviously dramatically more expensive by costing hundreds of thousands of dollars compared to the price of those other things.

However, such cheap interest rates and little money down enable there to be too many buyers chasing too few homes causing prices to go through the roof. Other things unlike homes have almost all cash buyers, so bad lending practices do not drive prices up as much of them.

I get the analogy and I don't necessarily disagree, but it's not quite this simple.
Graphics cards are being bought up because people are profiting off of them, either in the secondary market or using them for crypto mining.
But what if it had been a necessity, like food, or say I dunno... housing. It creates an unstable society where the haves can afford life necessities and the have nots can't, or struggle mightily to.


That's exactly what's happening today with the housing market.

Capitalism says this is fair game. I say ok, but it will cause huge societal issues.

I started another thread exactly on this topic.
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Old 05-12-2022, 02:42 PM
 
7,985 posts, read 3,918,759 times
Reputation: 14996
Quote:
Originally Posted by bluesclues5 View Post
This statement means nothing if you don't state the field/industry and less importantly the locale.
Incorrect. It means the US Labor Market is the best it has been in the memory of anyone alive today.
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Old 05-12-2022, 02:47 PM
 
2,346 posts, read 974,711 times
Reputation: 1428
Quote:
Originally Posted by Mikala43 View Post
I DO understand that. That's why I said "as much as possible."

I think China's economic boom greatly enhanced the lives of Americans, with some drawbacks. But isn't that always the case?

It enhanced the lives of Americans by allowing cheaper goods to enter the country.
It GREATLY enhanced the lives of the wealthy by vastly increasing their profits.
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