About to crash

[westwall]

Wealth is so much more than cash buried in your basement, that you do not understand this shows just how poor you are.

Ahhhh, so you can't do it. Figures.

I have more in cash than you have equity in your house. I have a paid off house, warehouse and two hangars. All paid off.

The cash is merely the emergency funds.

You should have some.

 

[Harpy Eagle]

Ahhhh, so you can't do it. Figures.

I have more in cash than you have equity in your house. I have a paid off house, warehouse and two hangars. All paid off.

The cash is merely the emergency funds.

You should have some.

You have become boring again....go count your cash and tell yourself how rich you are.

I will toy with you again another day!

 

[westwall]

You have become boring again....go count your cash and tell yourself how rich you are.

I will toy with you again another day!

Yeah, you lie and lie, and are poor.

Poor people are either incredibly interesting to be around, or dreadfully boring.

You are boring.

 

[Tom Paine 1949]

My portfolio is still worth less now than when the Donald was President.

The S&P was some 800 points lower than today (4,508) … even at the very best day in Trump’s Presidency. Today any investor can even without risk beat the inflation rate just by investing in short-term high-quality Treasury Bonds or guaranteed CDs. If you have lost money in your portfolio since Trump it is your own fault. You may just be a rotten investor, or just unlucky. I am way ahead. On the other hand, the stock market remains, as always, highly susceptible to quick rises and steep falls. Anybody who expects it always to go up is a fool.

 

[westwall]

The S&P was about 750 points lower than today (4,508) point … even at the very best day in Trump’s Presidency. Today any investor can even without risk beat the inflation rate just by investing in short-term high-quality Treasury Bonds or guaranteed CDs. If you have lost money in your portfolio since Trump it is your own fault. You may just be a rotten investor, or just unlucky. I am way ahead. On the other hand, the stock market remains, as always, highly susceptible to quick rises and steep falls. Anybody who expects it always to go up is a fool.

Yeah, imagine that. The normal working people were doing better than the rich stock portfolio types.

DURRRRRR

 

[Tom Paine 1949]

Yeah, imagine that. The normal working people were doing better than the rich stock portfolio types.

DURRRRRR

From the moment Trump lost the election the market began to recover, even though Covid still screwed up the economy and world inflation gradually grew hugely as Covid disruptions ended. Actually the labor market is also — at present — in remarkable shape, and many powerful capitalist forces have been hoping for the rise in wages to end and unemployment to increase. They want this so that the Fed will likely more quickly reverse the money tightening QT policy it adopted to fight inflation, and return to the supposedly “good old days” when privileged finance capitalists could access virtually free credit to profit even as our actual competitive position in high tech and crucial new industries was falling behind. You Trumptards have no idea of what is happening in the real economy, or of the tasks necessary to rebuild American economic leadership. You only know how to complain.

 

[westwall]

From the moment Trump lost the election the market began to recover, even though Covid still screwed up the economy and world inflation gradually grew hugely as Covid disruptions ended. Actually the labor market is also — at present — in remarkable shape, and many powerful capitalist forces have been hoping for the rise in wages to end and unemployment to increase. They want this so that the Fed will likely more quickly reverse the money tightening QT policy it adopted to fight inflation, and return to the supposedly “good old days” when privileged finance capitalists could access virtually free credit to profit even as our actual competitive position in high tech and crucial new industries was falling behind. You Trumptards have no idea of what is happening in the real economy, or of the tasks necessary to rebuild American economic leadership. You only know how to complain.

Yeah, fancy that. The rich reasserted their control over the economy, and the poor and middle class got screwed again.

Under Trump, for the first time the poor and middle class did better, percentage wise, than the rich did.

So they stole the election, and put the common folk back in their place.

We get it, you hate the poor.

 

[Woodznutz]

The unemployment rate is 3.5%. If Trump was still president you'd be singing his praises from the mountain tops about what a wonderful economy we're in.

United States Unemployment Rate

Unemployment Rate in the United States increased to 4.10 percent in June from 4 percent in May of 2024. This page provides the latest reported value for - United States Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic...

tradingeconomics.com

So why can't everyone afford to buy a house?

 

[Harpy Eagle]

So why can't everyone afford to buy a house?

 

[Woodznutz]

Moody's cuts ratings of 10 U.S. banks and puts some big names on downgrade watch

Moody's on Monday cut the credit ratings of a host of small and midsized U.S. banks and placed several Wall Street big names on negative review.

www.cnbc.com

Downgrading banks means the flow of credit will get tight. That’s when recessions hit and markets crash.

This is awful news.

This is when we sideliners get into the market.

 

[Woodznutz]

View attachment 859878

My eyes aren't good enough to read this.

 

[Tom Paine 1949]

So why can't everyone afford to buy a house?

There has never been a time in U.S. or world history when …“everybody [can] afford to buy a house”!

How about first learning a few basics about how the economy — or real estate market — works, before complaining or asking idiotic questions?

 

[Harpy Eagle]

My eyes aren't good enough to read this.

In 1980 the median sale price for a house was $64,000. Today it is $431.000

In 1980 the median income was around $22,000. Today it is around $74,000.

Thus income went up a multiple of 3.3 while the cost of a house went up my a multiple of 6.7

 

[Woodznutz]

There has never been a time in U.S. or world history when …“everybody [can] afford to buy a house”!

How about first learning a few basics about how the economy — or real estate market — works, before complaining or asking idiotic questions?

. Maybe you should look up the meaning of rhetorical.

 

[Woodznutz]

In 1980 the median sale price for a house was $64,000. Today it is $431.000

In 1980 the median income was around $22,000. Today it is around $74,000.

Thus income went up a multiple of 3.3 while the cost of a house went up my a multiple of 6.7

Not only that but rents are so high that few can even save for a house. Also, many single-family homes have been gobbled up by investors large and small and are now rental properties. This began in earnest back in the 1970's.

 

[Harpy Eagle]

Not only that but rents are so high that few can even save for a house. Also, many single-family homes have been gobbled up by investors large and small and are now rental properties. This began in earnest back in the 1970's.

Yep, I am pretty sure rent has gone up faster than home prices.

 

[Woodznutz]

Yep, I am pretty sure rent has gone up faster than home prices.

And "affordable housing" is a joke. No one wants it, for obvious reasons.

What is available is inexpensive land in the boonies with few building restrictions.

 

[Harpy Eagle]

And "affordable housing" is a joke. No one wants it, for obvious reasons.

What is available is inexpensive land in the boonies with few building restrictions.

It does not need to be a joke, when we were younger builders built what were called starter homes, they were smaller with less bells and whistles. Then when you were ready you sold them and moved up and a different young couple would have a less expensive home.

Nobody builds those any more.

 

[Woodznutz]

It does not need to be a joke, when we were younger builders built what were called starter homes, they were smaller with less bells and whistles. Then when you were ready you sold them and moved up and a different young couple would have a less expensive home.

Nobody builds those any more.

They build "McMansions", more profits for the builder, more taxes for the city, fewer minorities in those upscale neighborhoods. Also, lots of high-density apartment buildings being built to serve the nation's college students. With student loans covering rent as well as tuition this is another reason for high rental prices, as well as increased tuition costs. A vicious cycle of greed.

 

[Harpy Eagle]

They build "McMansions", more profits for the builder, more taxes for the city, fewer minorities in those upscale neighborhoods.

Around here a huge trend is what they call "Luxury Urban Living" apartments. They are going up all over the place.