How bad is inflation?

[smokingman]

In 2020 45% of Americans making median income could afford a median price home.
That number has fallen to just 16% as home prices have risen substantially(as has institutional buying) and rates on a mortgage loan have risen. Homes are less affordable than they ever have been in history.

Visualizing America's Shortage Of Affordable Homes | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[Pepi]

Biden says it is the best in years

 

[Mgderf]

Biden says it is the best in years

He says best economy EVER, and he plans to make it even better.

 

[BigRed]

How bad is it?

Check for yourself.

Inflation Calculator | Find US Dollar's Value From 1913-2024

Easily calculate how the buying power of the U.S. dollar has changed from 1913 to 2024. Get inflation rates and U.S. inflation news.

www.usinflationcalculator.com

 

[KLB]

I wonder if new houses will be smaller again. During the boom in the late 90s and early 2000s, houses were getting bigger and bigger.

 

[Creedmoor]

In 2020 45% of Americans making median income could afford a median price home.
That number has fallen to just 16% as home prices have risen substantially(as has institutional buying) and rates on a mortgage loan have risen. Homes are less affordable than they ever have been in history.

Visualizing America's Shortage Of Affordable Homes | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

My first homes interest rate was just over 17%. It took almost 50% of our income to make the payments.

 

[Wolfhound]

My first homes interest rate was just over 17%. It took almost 50% of our income to make the payments.

I can relate to this. My interest rate wasn’t that high but we had just relocated from another state. My wife wasn’t working so the mortgage was literally 50% of our income. You do what you gotta do to get by. We survived and are doing well now.

 

[Creedmoor]

I can relate to this. My interest rate wasn’t that high but we had just relocated from another state. My wife wasn’t working so the mortgage was literally 50% of our income. You do what you gotta do to get by. We survived and are doing well now.

Yep, we sucked it up and lived in a efficiency apt for a few years saving money eyes to buy a new home.
What I see loads of now are young folks still living at home, with some single and some married paying no rent and still have nothing to show for it.

A few weeks back I was inline getting a soda and a young woman in front of me is trying to figure out how to pay her bill with a few different cards. I tossed a ten on the counter to pay the bill, she turned around and thanked me and then said.
Adulting is hard. Even the cashier laughed.

 

[stocknup]

How bad is it?

Check for yourself.

Inflation Calculator | Find US Dollar's Value From 1913-2024

Easily calculate how the buying power of the U.S. dollar has changed from 1913 to 2024. Get inflation rates and U.S. inflation news.

www.usinflationcalculator.com

That is a depressing site .................especially when I punched in what I paid for my first few cars .

 

[blain]

What I see loads of now are young folks still living at home, with some single and some married paying no rent and still have nothing to show for it.

They have their collection of participation trophies.

 

[smokingman]

"Obviously, This Is Very Bad News For Biden": Wall Street Reacts To Today's Red Hot Inflation Print | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Even with the seasonal adjustments it was a hot print(would be over 5% without them).

 

[BigRed]

That is a depressing site .................especially when I punched in what I paid for my first few cars .

Isn't .gov wonderful?

 

[BigRed]

In 2020 45% of Americans making median income could afford a median price home.
That number has fallen to just 16% as home prices have risen substantially(as has institutional buying) and rates on a mortgage loan have risen. Homes are less affordable than they ever have been in history.

Visualizing America's Shortage Of Affordable Homes | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Here is today's release.

Live: Analysis of US CPI Report for March

www.bloomberg.com

Inflation continues to run hot.

 

[jwamplerusa]

How bad is it?

Check for yourself.

Inflation Calculator | Find US Dollar's Value From 1913-2024

Easily calculate how the buying power of the U.S. dollar has changed from 1913 to 2024. Get inflation rates and U.S. inflation news.

www.usinflationcalculator.com

I shudder to think what it would be if the Shadowstats inflation number was used.

 

[bobzilla]

Fun fact: The 2002 Elantra we bought new in 2002 costs the same amount as the 2023 Forte GT we just purchased, which is the modern version of that elantra. $15k in 2002 is $26k today.

 

[BigRed]

PPI is due out soon. It is expected to be even hotter than the CPI

 

[Ark]

"Obviously, This Is Very Bad News For Biden": Wall Street Reacts To Today's Red Hot Inflation Print | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Even with the seasonal adjustments it was a hot print(would be over 5% without them).

You can probably double that to account for how aggressively Biden is cooking the official figures.

They're still trying to tell us groceries are only up 3%.

 

[BigRed]

You can probably double that to account for how aggressively Biden is cooking the official figures.

They're still trying to tell us groceries are only up 3%.

Yep. State has a long and consistent record of being nothing but a lying sack of ****

 

[blain]

That is a depressing site .................especially when I punched in what I paid for my first few cars .

Here's a better one...
Shadow Stats has some good insight into how the official inflation numbers have been tweaked through the years, in order to paint a more rosy picture.
The serfs don't need to know their paper money is growing more worthless every year.
The Visual Capitalist

 

[HoughMade]

In 2020 45% of Americans making median income could afford a median price home.
That number has fallen to just 16% as home prices have risen substantially(as has institutional buying) and rates on a mortgage loan have risen. Homes are less affordable than they ever have been in history.

Visualizing America's Shortage Of Affordable Homes | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

The glut in social media of home price complaining is extreme. Yes prices went higher, faster. No, they are not higher than ever before on several metrics.

Some of the factors are government action...going back to the pandemic before the current administration but continuing into it for certain. The eviction and foreclosure moratoria are significant. The rise in construction costs due to supply chain issues. The rise of AirBNB and VRBO- more people highly leveraging (going into debt) for real estate investment in such properties. There are so many factors.

However, keeping this issue in front of us all and making it sound like a dire emergency is, IMHO is Russian (and/or Chinese) disinformation social media campaigns. They want us at each others throats and demanding the government "DO SOMETHING"...and the government doing something is what landed us where we are.