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Post by code on Jun 13, 2024 15:59:58 GMT
Well, let's consider that... We know unemployment is up...weird and FULL-TIME jobs are down, but part-time employment is up
So, nope, everything ship shape. Nothing to see here, everything is fine, move along...
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Post by glennkoks on Jun 13, 2024 18:25:40 GMT
The overall economy is "strange". Unemployment is very low and the stock market is breaking records almost daily. But it's not the same economy we have had over the last 40 years or so. For example I purchased my home for 172,000 in 2008 and interest rate was 5.9%. Nowadays my home is worth about 400,000. The average new mortgage is 7.5%. My house has doubled in price and most of what we purchase costs at least 25% more but I don't know anyone in my occupation that is making anywhere near double what they were in 2008.
I think on the surface our economy is doing fine but when you start digging deeper wages have not kept up with inflation and "most" people have a lower standard of living than they did in 2008. I think we are one black swan event from a deep recession.
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Post by blustnmtn on Jun 13, 2024 19:15:23 GMT
The overall economy is "strange". Unemployment is very low and the stock market is breaking records almost daily. But it's not the same economy we have had over the last 40 years or so. For example I purchased my home for 172,000 in 2008 and interest rate was 5.9%. Nowadays my home is worth about 400,000. The average new mortgage is 7.5%. My house has doubled in price and most of what we purchase costs at least 25% more but I don't know anyone in my occupation that is making anywhere near double what they were in 2008. I think on the surface our economy is doing fine but when you start digging deeper wages have not kept up with inflation and "most" people have a lower standard of living than they did in 2008. I think we are one black swan event from a deep recession. My home on Long Island is on the market now. We purchased in ‘87. The price homes are going for coupled with property taxes and interest rates is insane. I just don’t see how people can do it. The realtor tells us there will most likely be bidders above the asking price and expect it to go fast. Good for us in getting out of Dodge, but at the same time, I agree completely with you. |
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Post by walnut on Jun 13, 2024 19:58:33 GMT
Oddly enough, business woke up this month for us lol. And today a bigger mining company offered me 700k for the 30 acre lease I permitted after finding it on a hike in the woods with my son a couple of summers ago. So, I assume that business is picking up for them too.
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Post by walnut on Jun 13, 2024 20:11:44 GMT
The overall economy is "strange". Unemployment is very low and the stock market is breaking records almost daily. But it's not the same economy we have had over the last 40 years or so. For example I purchased my home for 172,000 in 2008 and interest rate was 5.9%. Nowadays my home is worth about 400,000. The average new mortgage is 7.5%. My house has doubled in price and most of what we purchase costs at least 25% more but I don't know anyone in my occupation that is making anywhere near double what they were in 2008. I think on the surface our economy is doing fine but when you start digging deeper wages have not kept up with inflation and "most" people have a lower standard of living than they did in 2008. I think we are one black swan event from a deep recession. My home on Long Island is on the market now. We purchased in ‘87. The price homes are going for coupled with property taxes and interest rates is insane. I just don’t see how people can do it. The realtor tells us there will most likely be bidders above the asking price and expect it to go fast. Good for us in getting out of Dodge, but at the same time, I agree completely with you. That's nice, hope you do well on it. Where are you going to move? |
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Post by blustnmtn on Jun 13, 2024 20:29:51 GMT
My home on Long Island is on the market now. We purchased in ‘87. The price homes are going for coupled with property taxes and interest rates is insane. I just don’t see how people can do it. The realtor tells us there will most likely be bidders above the asking price and expect it to go fast. Good for us in getting out of Dodge, but at the same time, I agree completely with you. That's nice, hope you do well on it. Where are you going to move? We have owned property in The Catskill Mountains of NY for over 20 years. We built a log home there as a family retreat. Hunting, fishing and no traffic. We’re moving there. I’m continuing to work but less hours and much less time in the rat race. I have several projects with European partners that I’m a key player in and will be able to maintain my role off the “sand bar”! |
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Post by ratty on Jun 13, 2024 22:30:38 GMT
Australian property prices are completely insane, driven by migration and lack of supply ... A Home We Sold In 2019 |
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Post by missouriboy on Jun 20, 2024 19:02:25 GMT
Australian property prices are completely insane, driven by migration and lack of supply ... A Home We Sold In 2019Rent only 850 per month (I assume AUD)? That is a deal. How far from the beach? 
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Post by missouriboy on Jun 20, 2024 19:05:29 GMT
The used auto and raw land buyers are out in force here. Our Nissan dealership has been calling me about selling our used vehicles. And the property buyers are wanting to purchase the farm.
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Post by ratty on Jun 20, 2024 22:02:57 GMT
Australian property prices are completely insane, driven by migration and lack of supply ... A Home We Sold In 2019Rent only 850 per month (I assume AUD)? That is a deal. How far from the beach? Too far. Not walking but trekking distance. |
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Post by missouriboy on Jun 27, 2024 3:00:45 GMT
The Buffett Indicator.
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Post by flearider on Jun 27, 2024 8:13:18 GMT
its not hard to see from a poor mans view we are already in a recession ... food and fuel prices way out of control .. credit card debt up people losing there homes ...
not much more they can take .. you know its bad when taylor swift buys a a truck load of food for the town shes playing in ?
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Post by blustnmtn on Jun 27, 2024 11:56:36 GMT
its not hard to see from a poor mans view we are already in a recession ... food and fuel prices way out of control .. credit card debt up people losing there homes ... not much more they can take .. you know its bad when taylor swift buys a a truck load of food for the town shes playing in ? This is worth a read: brownstone.org/articles/is-the-global-inflationary-depression-already-here/ |
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Post by walnut on Jun 27, 2024 11:56:57 GMT
its not hard to see from a poor mans view we are already in a recession ... food and fuel prices way out of control .. credit card debt up people losing there homes ... not much more they can take .. you know its bad when taylor swift buys a a truck load of food for the town shes playing in ? We've been in an undeclared yet (in some sectors) fairly severe recession since about June of 2022. But I'm wondering if we may be about to recover. |
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Post by walnut on Jun 27, 2024 11:59:43 GMT
its not hard to see from a poor mans view we are already in a recession ... food and fuel prices way out of control .. credit card debt up people losing there homes ... not much more they can take .. you know its bad when taylor swift buys a a truck load of food for the town shes playing in ? This is worth a read: brownstone.org/articles/is-the-global-inflationary-depression-already-here/Our "recovery" might lead into a 1970's~ early 80's similarly flat, stagflation-ary economy. |
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