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I've only had Wagyu beef once when my neighbor decided to cook it on his BBQ. Unfortunately all I tasted was Sweet Baby Ray's BBQ sauce.
Why on God's green Earth did he put BBQ sauce on a Wagyu steak?
Back to the original question:
If y'all think it's bad now just wait. The die has been cast for oil products, they're going to do nothing but rise from here on in. And as oil goes so does everything else.
I have to agree about single family homes, at least many of them. I bought my retirement home in the fall of 2019 a few months before Covid happened. My house has more than doubled in value since then and keep in mind this is a small town in KY that almost no one has ever heard of.
Whether or not it retains that value will be interesting to see, although it doesn't matter to me what the house is worth. BTW, rents here have doubled as well in the last 2-3 years. If I had to rent a house like this now, it would cost triple in what I pay in a monthly mortgage.
This is a really important point.
Where I am is probably similar to where you are in Kentucky. Have there been any meaningful changes in the local economy that would justify a big run-up in real estate prices? Has there been any a big influx of wealthy transplants? Any big employers?
Around here, not much has changed. Yes, there has been some out of area interest, but probably not enough o justify the local appreciation. There are numerous towns in the coal country area of southwest Virginia that have had rapid appreciation that are 30-45 minutes (or more) away from a hospital, Walmart, or an interstate. Services and amenities are way fewer than
Most people do not want to live in an area like that. I don't understand the appeal or appreciation beyond general macroeconomic trends.
I'm not seeing 3% inflation; I'm seeing about 50% on average. Certain items (the aforementioned crab meat and real estate) have increased 100%. I've heard others say the same. But I concede that's anecdotal and not "scientific." I just don't necessarily "follow the science" (or the MSM) in this case.
My girlfriend and I split a medium supreme pizza this evening. $16 with mostly locally grown produce. Locally owned restaurant. It's a good value for what it is.
I went to Publix to get a few things afterwards. A 12 pack of Cherry Coke Zero is now $7.29. A 16-pack of White Castle sliders, the tiny, tiny beef patty with onions between a dinner roll, was $13.59. A Publix-branded, frozen chicken tikka masala dinner was $6.49. A pack of "all natural" breaded, fried breast tenders was $10+/lb. Regular Oscar Meyer bacon is now $11.29/lb.
These prices get higher almost every time I go into this store. Yes, Publix is a bit more expensive than the other regional grocers, much less Walmart, Sam's, or Aldi, but these increases are terrifying.
It wasn't that long ago that 12-packs of sodas could be purchased 2/$5 or 2/$6. Those tenders? I used to be able to get the same amount of tenders (Tyson's) for $6.99 at Walmart, $7.99 at the grocery store. Yes, this is a "healthier" tender, but over $10/lb. for frozen breast tenders? My mind is blown.
Boar's Head, a premium lunch meat, is now $15.99/lb. for any roast beef based meat (roast beef, corned beef, pastrami, etc.). I can get local filet mignon for nearly that price at a farm stand near my house. I can get local, tender sirloin for half that, ground beef for barely more than a third.
I don't know what lower income folks are going to do handle this. It's a crisis that doesn't get nearly enough attention.
My local coffee shop has just increased the price of a flat white from $3.50 to $4.00. I will buy it anyway!
One outcome of the high prices of fuel is that it makes public transport for retirees even more of a bargain in Sydney. The maximum daily cost for us is $2.50. Whereas when I was driving to see the grandkids it was around $20 each time. To make me even happier, I can read on the train as much as I like!
One thing to consider regarding your car is that more modern vehicles have improved safety systems such as backup cameras, lane keeping assistance, collision avoidance systems (the car will slam on the brakes by itself if needed), adaptive cruise control (it keeps an appropriate distance between you and the vehicle in front of you), a system that detects if you are getting sleepy behind the wheel and alerts you to pull over, a system that detects if you are not controlling the steering wheel appropriately, etc.
I broke down and bought a newer vehicle because my 2005 one, while still fine, lacked modern safety systems that I decided I wanted.
I would love to have one of the newer cars with the safety features, but I'm going to have to wait until next year. Can't afford it this year.
I would love to have one of the newer cars with the safety features, but I'm going to have to wait until next year. Can't afford it this year.
In contrast, I dread the day I'd have to buy a newer car. Not only due to the expense, but because - being tech-challenged - I wouldn't even know how to operate one today! I probably couldn't even RENT a new car without having an in-depth tutorial on all the bells and whistles. My 14-year-old Toyota has manual windows and a radio operated by buttons and knobs, and I like it that way. With maintenance, it should last forever.
Serious, I am seeing the same price increases at Hannafords. We are definitely doing without many groceries that we would have bought last year. Terrifying is the word.
I can't believe this is not going to impact the people who overpaid for houses, bidding over listing prices in many cases. How can this be sustainable?
MarisaMay, you're fortunate to have that option... I, too, would choose a bus or a train if it were available here. It now costs a fortune just to drive to my usual weekend activities in neighboring cities.
In contrast, I dread the day I'd have to buy a newer car. Not only due to the expense, but because - being tech-challenged - I wouldn't even know how to operate one today! I probably couldn't even RENT a new car without having an in-depth tutorial on all the bells and whistles. My 14-year-old Toyota has manual windows and a radio operated by buttons and knobs, and I like it that way. With maintenance, it should last forever.
Oh, I have a much newer Toyota. 2010. 157K miles. I do have power windows.
My backup camera is me turning to look. I consider it part of my exercise program. Stretches my neck and shoulders.
When we sold my late mother's house last year, I put an amount of money aside for a newer car (not NEW, my parents never bought a new vehicle in their lives because "it will depreciate the minute you drive it off the lot, buy a good used car instead or you are wasting your money" is ingrained into my brain) but my intention is to drive that Corolla until it dies, or I do, whichever comes first.
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157K miles. I do have power windows.