Why's Everything So Expensive?

[sdsrfr]

Time demostrates that this is in fact the soundest way to invest.

I just look to spend my money on experiences.

you consumers are the toxic ones.

 

[mundus]

Rent forgiveness is a slap in the face to every homeowner and tenant that kept meeting their obligations. The forbearance deal our bank offered was a joke. We nutted it up and kept paying our mortgage even though our income was cut 60% by Covid. The Governor is just buying votes. He should be using the surplus $$$ on water / wastewater and RNG infrastructure. Something that'll last and will benefit everyone. What a mess.

Better to throw them on the street adding to the homeless problem?

 

[bird.LA]

Cut'n'snip.... What about buying, not necessarily in the area you end up, and renting out to cover your mortgage? Then, at least you wash on the rent you pay to live where you actually can't afford to buy, but want to be geographically, and build equity even if not owner occupying the property?



Not ranting, just wondering, if you have the down... Why not pull the trigger and get into the RE market at the lower end. You can always flip later for better location once your renters build some equity for you.

Rents have not been rising in lockstep with home prices. Very difficult to come out in the green on that plan of attack unless you're putting down a lot more than 20%. Less than 10% forget it, there are better places to invest than real estate IMO in that situation. You can just put some money in REITs for some exposure too.

 

[CutnSnip]

Cut'n'snip.... What about buying, not necessarily in the area you end up, and renting out to cover your mortgage? Then, at least you wash on the rent you pay to live where you actually can't afford to buy, but want to be geographically, and build equity even if not owner occupying the property?



Not ranting, just wondering, if you have the down... Why not pull the trigger and get into the RE market at the lower end. You can always flip later for better location once your renters build some equity for you.

Yea def an option I have thought about and will continue to think about, thank you for the suggestion.

Part of me is scared to plunk down the life savings, part of me thinks im a little immature to be a homeowner, etc. Just typical overthinking really. I figure just keep my head down this year, work, accumulate even more savings and then see where Im at January 2022.

 

[silentbutdeadly]

not sure where you live but I'm thinking there's a solid chance things will slow down or take an absolute sh!t in the fiarly near future

 

[Mr Doof]

^ - Co-worker in the mid-90s thought the same thing.

Sold his home in SF, moved into apt, waited for crash.

2001 dot com bust happened, prices leveled off. Didn't get back in because prices didn't drop lower than what he sold.

To save money, moved out of SF to Santa Rosa and rented place.

2009 happened. Prices came down a little, but didn't drop lower than what he sold for in the 90s.

Now has mid 20-teens, divorced, and living in apartment.

Not saying what I have observed will be the same for others elsewhere, just saying you make decisions and live with consequences.

By the way, he consistently made the best homebrew lager and pilsner I have ever tasted.

 

[silentbutdeadly]

not sure where you live but I'm thinking there's a solid chance things will slow down or take an absolute sh!t in the fiarly near future

Edit:



Or not

 

[npsp]

Better to throw them on the street adding to the homeless problem?

Depends, how many are taking advantage of the situation. I'm not in disagreement on forgiveness to a point. However, there are many other things that need attention that benefit all residents of the State, that in my opinion, are more important than forgiving the back rent owed by people that may or may not need that assistance.
There are 100s of small rural and urban community water / wastewater systems that do not meet the minimum standards for distribution and discharge. The surplus would go a long way in correcting these issues, create jobs and new sources of renewable energy. In my opinion, that is more important for the State on many levels.

 

[grapedrink]

Edit:



Or not

My gut feeling is that if it doesn’t correct by next winter (assuming continued improvement with Rona) then it will go for another 5-10 years

 

[npsp]

Edit:



Or not

Depends on where you are. Coastal So. Cal is always a safe bet. Inland, not so much.... It will be interesting how this shakes out once interest rates go up a few notches.
One important factor that has not been discussed in this thread is property taxes. On an $800K home your taxes will be close to $700.00/month on top of your mortgage. If the current super majority in Sacramento had it's way, they'd ax Prop 13 and screw all homeowners.

 

[bird.LA]

forgiving the back rent owed by people that may or may not need that assistance.

Everything I've read suggests that this is all going to be means tested. You hearing otherwise?

 

[npsp]

Everything I've read suggests that this is all going to be means tested. You hearing otherwise?

Means tested in CA is code word for we may or may not ask you a couple of questions to verify if you're in need.
Of the billions of $$$$ the Fed and State sent out as stimulus ~ $30 Billion went to fraudsters (many of them incarcerated felons). I don't trust that our State Government is capable of an adequate means test.

 

[bird.LA]

Means tested in CA is code word for we may or may not ask you a couple of questions to verify if you're in need.
Of the billions of $$$$ the Fed and State sent out as stimulus ~ $30 Billion went to fraudsters (many of them incarcerated felons). I don't trust that our State Government is capable of an adequate means test.

So less than 3%? Room for improvement, but not bad.

 

[npsp]

So less than 3%? Room for improvement, but not bad.

3% or not, $30,000,000,000 is a lot to mismanage. That $30B could be used for so many issues in our state that need money to solve like providing access to good mental heath treatment, clean water, higher teacher pay, the list goes on and on.

I feel the same regarding rent forgiveness. Yes it is a nice gesture and it will further bail out a small segment of the State's population and that's a good thing but temporary. Investing in water / wastewater, RNG production, learning tools for all public schools and mental heath treatment are long lasting legacy improvements for the State that would benefit all residents, not just renters and their landlords.

 

[casa_mugrienta]

Normally when I open a new box of cereal I don’t have to look inside to find where the bag is.

 

[Havoc]

i knew i saw that same handwriting in wax on the trail...

 

[casa_mugrienta]

Inflation? What inflation?

 

[GromsDad]

Inflation? What inflation?

Strangely not a lot of coverage from the main stream media.

Inflation Reaches New High as Consumer Prices Jump 7.9%, Highest in Four Decades

Inflation has been running very hot for nine straight months and shows no signs of peaking. | Economy

www.breitbart.com

 

[Sharkbiscuit]

Normally when I open a new box of cereal I don’t have to look inside to find where the bag is.View attachment 111886

Holy f--k.

Countertop so old it almost looks like mine - except yours has been cleaned since the Reagan administration.
Soap scum on sink.
Dried drainer baby batter on underside of paper towel dispenser
Multiple knives missing from cutlery block
Brown handled knife among black handled cutlery in block

Almond Butter Puffs? I thought that was the name of a midlength twin, not a cereal.

Holy hell. What cartoons do you watch while eating your cereal?

 

[Sharkbiscuit]

Strangely not a lot of coverage from the main stream media.

Inflation Reaches New High as Consumer Prices Jump 7.9%, Highest in Four Decades

Inflation has been running very hot for nine straight months and shows no signs of peaking. | Economy

www.breitbart.com

It's on the front page of CNBC and Bloomberg right now, top billing other than Russia/Ukraine.