Total economic collapse imminent (status, costs, corporation, recession)

[ddeemo]

Originally Posted by redguard57

Oh God Rocket Mortgage. Biggest grifters ever. They were super aggressive and called my RE agent trying to find properties I might buy. Then one of their agents got into an argument with me about renting vs. buying when I said I was hesitant to buy at these prices and basically insulted me for not buying RIGHT NOW. Who the hell are they to tell me how to handle MY finances? Yeah, I didn't renew my pre-approval with them.

I would expect them to say it is always time to buy.

I picked several sites they all say the same - your issue with rocket has nothing to do with the actual data.

[kyle19125]

Originally Posted by Athair

Low unemployment, wage growth, everyone in my city seems to go about life as if the world isn’t ending… kinda odd, right?

If looking at the full of holes U-3 Unemployment Rate which doesn't account for those who exhausted unemployment benefits or somehow didn't qualify, those who have given up on a job search or those underemployed minus full time work. Happy, happy joy-joy!

Meanwhile the much more accurate U-6 and other geographical factors tell a different story.
https://www.politico.com/newsletters...think-00035922

[WRM20]

Originally Posted by redguard57

Haha no. I just want to be able to buy a house at a reasonable price. And they were reasonable just 5 years ago. 3 years ago even.

By definition, prices are reasonable now, since people are paying those prices.

[redguard57]

Originally Posted by WRM20

By definition, prices are reasonable now, since people are paying those prices.

Then prices are always reasonable and the world always works perfectly. The pandemic messed up nothing at all. Then why is anyone ever upset if we live in such a utopia?

[WRM20]

Originally Posted by redguard57

Then prices are always reasonable and the world always works perfectly. The pandemic messed up nothing at all. Then why is anyone ever upset if we live in such a utopia?

That's all true.

Some people are just greedy and don't want any change. I see people complaining about 5.5% mortgages, when that was the going rate for decades.

[redguard57]

Originally Posted by WRM20

That's all true.

Some people are just greedy and don't want any change. I see people complaining about 5.5% mortgages, when that was the going rate for decades.

Houses were 30% of what they currently cost when rates were last 5.5%.

[WRM20]

Originally Posted by redguard57

Houses were 30% of what they currently cost when rates were last 5.5%.

Income was a fraction as well. What's your point? Should mortgage interest rates always be 3%? No.

[Lazarus_2]

Pump and Dump, thanks for that video. A real eye opener if one approaches it with any degree of objectivity.

[EDS_]

Originally Posted by kyle19125

If looking at the full of holes U-3 Unemployment Rate which doesn't account for those who exhausted unemployment benefits or somehow didn't qualify, those who have given up on a job search or those underemployed minus full time work. Happy, happy joy-joy!

Meanwhile the much more accurate U-6 and other geographical factors tell a different story.
https://www.politico.com/newsletters...think-00035922

U-6 is released every single month, there is no attempt to con anyone.

Geographical factors?

[Willy702]

Won't be long until CNBC dusts off it's favorite clown Peter Schiff and asks him to be on every day telling us the world is going to end.