How bad is inflation?

[Brian Ski]

Correct , the house that was just built 2 plots north of my house sold for 40k above list. Someone could have had it built in 5 months and just pocketed the extra cash but that’s the current market. I am interested to see when the tax assessor comes around to try and jack my value up.

Around here they are not raising taxes... The assessed value has sky rocketed so your taxes also go up.

 

[ghuns]

Is this why so many Americans are ditching fast food chains?

No wonder Americans are getting fed up with fast food - a new report shows how much prices have gone up.

www.dailymail.co.uk

Mid 90s I worked at a shop that had a Burger King next door.

I would frequently buy a double Whopper w/cheese meal for lunch. I always took exact change, $3.33.

It later jumped to $3.69, then $3.78. I started packing my lunch when it broke $4. That was just too rich for my broke arse.

 

[Tradesylver]

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

Mine was 14% on a VA loan.

 

[Brian Ski]

Mine was 14% on a VA loan.

Mine was 10.5% in the late 80s.

 

[COOPADUP]

Around here they are not raising taxes... The assessed value has sky rocketed so your taxes also go up.

I’ve received two notifications in less than a year. Wasn’t this the reason for Boston Tea party ?

 

[Ingomike]

I’ve received two notifications in less than a year. Wasn’t this the reason for Boston Tea party ?

Nope, it wasn’t. It was taxation without representation, the last two words get lost on INGO a lot…

 

[COOPADUP]

Nope, it wasn’t. It was taxation without representation, the last two words get lost on INGO a lot…

You’re correct. The reason is clearly there. It’s called “trending”.

 

[Tradesylver]

Mine was 10.5% in the late 80s.

I bought my first home in Colorado in 1982, I was getting a deal because of the VA.

 

[jwamplerusa]

Nope, it wasn’t. It was taxation without representation, the last two words get lost on INGO a lot…

It kind of was. I'm not being represented by all but I vanishingly few in washington. In fact most of Congress is starting to act and sound like the House of Lords, not the representatives of the people.

 

[Ingomike]

It kind of was. I'm not being represented by all but I vanishingly few in washington. In fact most of Congress is starting to act and sound like the House of Lords, not the representatives of the people.

I can agree with that, but history is history…

 

[Brian Ski]

I bought my first home in Colorado in 1982, I was getting a deal because of the VA.

I checked into it a few years ago for a friend. (I am not a veteran) VA rates were 1% (or was it 2%?) higher than conventional rates. But they were easier to get. (great way to thank a vet!)

 

[Tradesylver]

I checked into it a few years ago for a friend. (I am not a veteran) VA rates were 1% (or was it 2%?) higher than conventional rates. But they were easier to get. (great way to thank a vet!)

Non VA loans at the time were 16%

 

[smokingman]

 

[smokingman]

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.

"Home prices are now 47% higher than they were in early 2020, with the median sale price now five times the median household income"
That quote is from 2 days ago.

https://www.cnbc.com/2024/06/25/housing-affordability-price-mortgage-rates.html

It is as if the likes of Blackrock are buying whole neighbourhood's and renting them out(hint they are).

Another Blow To The Housing Market | ZeroHedge

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

www.zerohedge.com

 

[DCR]

Yep inflation's under control. Food prices are down. $60 !

 

[Super Bee]

Obviously they think we are ****ing stupid. I went to McDonalds last week and bought lunch, two adults, two little kids, no drinks. $45.00.

 

[firecadet613]

Obviously they think we are ****ing stupid. I went to McDonalds last week and bought lunch, two adults, two little kids, no drinks. $45.00.

Gotta be smart and find the deals. We can get through McD's for under $25, sometimes $20...

2 adults, 2 kids, with drinks. Use their app (my wife does) to get a 20%-30% off an order a day coupon.

Now, Raising Cane's, that's $45...

But yes, it's nuts. I used to be $6 or so for a quarter pounder meal, now that's $10+...

 

[smokingman]

Todays core consumer prices just came out. We set a new record.

Core Consumer Prices Hit New Record High - Up For 50th Straight Month | ZeroHedge

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

www.zerohedge.com

 

[Brian Ski]

Obviously they think we are ****ing stupid. I went to McDonalds last week and bought lunch, two adults, two little kids, no drinks. $45.00.

I went to DQ the other day. 2 meals with 2 blizzards $43. I had to look at the receipt 3 times.

 

[WebSnyper]

Gotta be smart and find the deals. We can get through McD's for under $25, sometimes $20...

2 adults, 2 kids, with drinks. Use their app (my wife does) to get a 20%-30% off an order a day coupon.

Now, Raising Cane's, that's $45...

But yes, it's nuts. I used to be $6 or so for a quarter pounder meal, now that's $10+...

Yep, the app is the way. Though they only let you use one app code deal at a time, so with multiple people it may take separate orders with each having an app code to really get to down for 4 people.

I definitely use apps, coupons, and day of the week offers to help buffer the cost increases as well.