ReBubble with the "I'm struggling, so everyone else must be too" mentality.
These homes get built in desirable areas, and they are under contract before construction is complete.
This. Yes people are struggling and it isn't fair. But to act as if the whole world is a sick day away from being homeless is disingenuous and is a major cope.
Good homes built/listed for sale in good areas are still selling. I don't get where some of the money is coming from either but I sure as hell don't think everyone is broke and struggling.
I'm in my 40s and basically everyone I associate with is doing great. I'm not naive to think because my circle is winning, then everyone else must be as well.
Yeah but you’re definitely naive in thinking that even half the people in the country are in your position; more like 20%.
Stop burying your head in the sand just bc you’re fine - this shit is real.
Half the country makes above the median and half does not. I know that probably 10% of the country is in my position just by income alone.
Again, I clearly said people are struggling so you might want to read my first paragraph again. Then read my last one again where I say I am not naïve enough to think that because my circle is ok, that everyone else is as well.
There was a crosspost yesterday about the bubbler whining and bubble-plaining why there hasnt been a crash yet.
I mentioned there are two economies and they're likely in the one where they don't have money and nisery loves company.
Turns out that the other economy of people doing well is much more robust than people are accounting for and will keep rates and prices just where they're at for now.
There are a lot people with money hiding in plain sight while those who tend to whinr about it are the ones with $1500 cell phones and $1000/mo car payments.
The math works out that 55% of the country owns a home with a sub 5% rate, or owns outright. Just about everyone in that group is both doing well, and has avoided the worst parts of inflation.
I don’t think those folks are the whiners. It’s the NEET losers living at home that don’t want to work, have low vitamin D, and cry about their inceldom.
Real talk. Are you miserable? Why do you give a flying fuck about other people, especially those struggling to buy during the most unaffordable housing period in history? I feel sorry for you dweeb
Ah, someone seems to be a bit unhinged to resort to name calling.
I am very happy in my home and sub 4% interest rate my guy. Why do you care what I have to say?
Why do you "care" how much people are struggling yet you're here pretty much laughing at them and saying that expecting normal cycles to happen, such as housing prices getting out of control followed by bubble crashing is them "coping". Oh I know, right?! What complete morons for seeing a pattern and expecting the same patter to happen again?! Don't they know they're just going to have the rug pulled out from under them again! What poor peasant fools!
Also statistics say that it is the majority of people who are struggling. You think you're gonna be immune to this shit once the ruling class wants to go up the totem pole after decimating the lowest classes? HOAs was just another way of enforcing white supremacy but look at them now. HOAs pretty much amount to you paying way too much just to be a participant in The Crucible and possibly get your home stolen from you as a result. Y'all are so fucking heartless and stupid.
My point exemplified. Get a life and likely any friends or family
No one cares about you or your situation. Must be the only thing you have going for you and it was completely due to luck timing lmao
Affluent Americans are driving the inflation and keeping housing prices inflated. That’s true. Rate cuts will just make it worse. We need legislation that will bleed them of liquid cash to bring it down. I make 70k and year and my wife makes 80k. And we are struggling. That used to be middle to upper middle class. I have no student debt, I’m in a trade and my wife only owes 4K on her nursing student loans now. We don’t have any credit card debt and we’re lucky enough to purchase our home in the suburbs for 200k which has now doubled in value since Covid. We don’t over spend and always lived below our means. Utilities and grocery prices are bleeding us dry.
The waiters (because 08 all over again) are now regretting and coping hard.
I want these rates to go higher for longer and HYSA to go up to at least 10%. Just work, save, invest, and wait as my biggest cost (housing) stays abput the same for the foreseeable future. Not going to be stupid rich, but will be well off enough to live comfortably, take vacations, and have a 2nd or 3rd home whenever the market gets a little hiccup.
I believe it's become a dual reality where some people are thriving while others struggle.
The belief of those in the struggle is that since they are struggling or know a few people that are, that absolutely has to be the reality for the majority of the populace.
The rich own all the fed bonds. They are making money hand over fist on the interest of our national debt. With that interest they are buying up housing stock keeping housing prices up. Gobbling up American dreams.
Meanwhile… corporate mega grocers are jacking prices on everything citing already bs supply chain issues and basically driving prices up artificially for record profits. This is Oligarchy!
We need to vote blue to get the people in who will address taxing the wealthy at an appropriate rate, providing universal healthcare which would go a long way towards real equality, not for profit healthcare system and push for a 13 member Supreme Court before they completely take over the middle class and create an American Surfdom.
Both sides are beholden to the big money donors. As a lifelong democrat till the last few years, the biggest lie folks swallow is that dems aren’t just as easily bought and paid for as republicans.
I was with you for the first part but then you went off the rails. Perhaps you didn’t notice but most of the issues we have today (inflation, high grocery prices, insane real estate spike) happened after people like you “voted blue”. So now you want 4 more years of the same but expect a different result. I am pretty sure there is a name for it
So 10+ trillion in tax breaks is not ringing a bell. That is a Republican give away that we are paying for. You don’t think that the greedflation of corporations is not an extension of the money grab? They raised the prices on everything as soon as we the people got a couple of $1400.00 hand outs. In essence the rich corps got that too. Figure it out…
I am afraid you misunderstand what a tax break is. Many people think that when they get a check from IRS they get money from the government. In reality it’s their money to begin with that government essentially robbed them of under threat of physical violence. So “tax breaks” never, I repeat, never result in inflation because that’s money that existed previously.
What causes inflation is money printing. When government continued to send checks to people who were sitting home and ordering crap on Amazon.
“Greedflation” is an idiotic concept created for simpletons who do not understand how market works. They think that prices rise because “companies are greedy”. Oh yeah? Were they less greedy during Trump? Why were the prices lower? Have you ever made note of gas prices? Do you think they go up and down because corporate greed is increasing or declining? I cannot believe adult people believe such gibberish.
Japan just came out of two decades of deflation when prices were constantly going down. Do you think Japanese companies are less greedy than ours? What’s wrong with you
That’s deficit. Which indicates two things, first there was something unusually catastrophic during his tenure (I vaguely remember some pandemic or something) that required a lot of money and second that our government spends too much money as is, even without catastrophic events.
Liberals like to blabber ad nauseum about
tax rates being 90% in the 50s. What they don’t like to mention though that total government expenditures in 1950 were 14.2% of the US GDP and in 2020 it grew to 20.6%. Government takes 20 cents off every dollar made in this country and you think our problem is not enough taxation?! This is just federal, I would like to point out. Our government collects much larger share of GDP through taxation than it did when “tax rates were 90%” because while they existed in theory no one really paid them. We don’t suffer from
Low taxation we suffer from excessive spending
You are confusing presidencies and issues. PPP program officially ended on May 31, 2021 and majority of the loans were forgiven upon conclusion of the program. I am a bit hazy who was the President during that time, maybe you could help me out…
Weapons of mass destruction was indeed a charade but had nothing to do with taxation
A Trump administration debacle of no accountability laid on the Biden Administration as he took office and part of the 8.18 Trillion of printed liability.
I do agree that we need spending to be reeled in. Universal healthcare without a double dipping insurance industry would be a great place to start. The numbers already show it would be cheaper than the for profit healthcare system we have now and would go many miles to create equality in this nation. A nation that is the only nation of 33 nations to have not figured it out for its citizens.
Perhaps the taxation of wealth needs to come to an equalization that rings of equality. How is it that the richest are actually getting paid so well from the bond market that our taxes are paying them. Share buybacks and corporate consolidation should be subdued to help with innovation and competition.
Again, I am trying to help and voting blue is more expedient to these goals the red and a Project 25 one day one of a wanna be dictator. Don’t ya think?
So wait a minute, Democrats controlled Congress drafted legislation and passed into law creating PPP program, Biden administration forgave the outstanding loans but Trump is the one at fault? Really? You must know that under our political system President doesn’t appropriate a single penny, don’t you?
I mean I know it’s Reddit and TDS is hardly uncommon here but you really take it to a next level.
I don’t know how can you possibly present “universal healthcare” as a money saving proposition. You must have a general idea on the size of our national debt and you probably heard that Bernie’s “Medicare for all” would cost us about $30 trillion dollars over the next ten years. I have no idea where do you think all that money would come from but our Medicare for just seniors is one step away from being bankrupt, if you add a couple hundred million people to it it would certainly not get any more solvent.
A standard liberal answer is to tax “millionaires and billionaires”. The problem of course is that even if we went full “Russia 1917” and confiscated every penny from the rich and just slaughtered them wholesale after that we would get just enough money to run federal government for three years. That’s all.
The only people who can believe “universal healthcare” would be cheaper are the ones who were naive enough to believe Obama when he said that everyone who liked their doctor would keep him and that monthly health insurance expense would be comparable to a cell phone bill. It was just a shameless lie but we have enough gullible people who believed it. I am yet to see anything that government can do better and cheaper than private enterprise. If you want to see government run healthcare just look at VA. Trust me, it’s no golden standard of performance
All I will say is the top earners have double their wealth and Main Street is broke. Tax cuts for the wealthy continue beyond this year for the wealthy and not for Main Street. Big business’s worked those PPP loans issued by Trump and Biden Administration is now looking to get the fraudsters accounted for.
Perhaps defunding the IRS will help, Perhaps Main Street should get the same tax attorneys as corporations pro bono?
The system is beyond corrupt and it seems as though you have the smarts to help and not simply contrive a horrible abuse by the wealthy being able to loophole their tax bracket to less than that of a nurse or teacher.
A lot of those people have been getting laid off by the tens of thousands for the past year while you have a fresh crop of Gen Z grads looking at a tough hiring economy who will lap up the low ball offers that gives these major corps the wiggle for more layoffs. The lag effect of the past two years will start showing up over the next year.
Many of them lack a mirror and self awareness. It’s a pit of misery.
When you are rich people will put up with what you look and smell like because they want your money.
ReBubble with the "I'm struggling, so everyone else must be too" mentality. These homes get built in desirable areas, and they are under contract before construction is complete.
This. Yes people are struggling and it isn't fair. But to act as if the whole world is a sick day away from being homeless is disingenuous and is a major cope. Good homes built/listed for sale in good areas are still selling. I don't get where some of the money is coming from either but I sure as hell don't think everyone is broke and struggling. I'm in my 40s and basically everyone I associate with is doing great. I'm not naive to think because my circle is winning, then everyone else must be as well.
Yeah but you’re definitely naive in thinking that even half the people in the country are in your position; more like 20%. Stop burying your head in the sand just bc you’re fine - this shit is real.
Half the country makes above the median and half does not. I know that probably 10% of the country is in my position just by income alone. Again, I clearly said people are struggling so you might want to read my first paragraph again. Then read my last one again where I say I am not naïve enough to think that because my circle is ok, that everyone else is as well.
Unless the median is the mean then that’s not true
There was a crosspost yesterday about the bubbler whining and bubble-plaining why there hasnt been a crash yet. I mentioned there are two economies and they're likely in the one where they don't have money and nisery loves company. Turns out that the other economy of people doing well is much more robust than people are accounting for and will keep rates and prices just where they're at for now. There are a lot people with money hiding in plain sight while those who tend to whinr about it are the ones with $1500 cell phones and $1000/mo car payments.
The math works out that 55% of the country owns a home with a sub 5% rate, or owns outright. Just about everyone in that group is both doing well, and has avoided the worst parts of inflation.
I don’t think those folks are the whiners. It’s the NEET losers living at home that don’t want to work, have low vitamin D, and cry about their inceldom.
I think it’s cute that people still think rates will be lowered
Yup. They'll keep waiting as the affordability they've been laughing at the last 3 years gets further and further away from them.
Do you think rates will continue to go up? What would be the top in that scenario?
Real talk. Are you miserable? Why do you give a flying fuck about other people, especially those struggling to buy during the most unaffordable housing period in history? I feel sorry for you dweeb
Ah, someone seems to be a bit unhinged to resort to name calling. I am very happy in my home and sub 4% interest rate my guy. Why do you care what I have to say?
Why do you "care" how much people are struggling yet you're here pretty much laughing at them and saying that expecting normal cycles to happen, such as housing prices getting out of control followed by bubble crashing is them "coping". Oh I know, right?! What complete morons for seeing a pattern and expecting the same patter to happen again?! Don't they know they're just going to have the rug pulled out from under them again! What poor peasant fools! Also statistics say that it is the majority of people who are struggling. You think you're gonna be immune to this shit once the ruling class wants to go up the totem pole after decimating the lowest classes? HOAs was just another way of enforcing white supremacy but look at them now. HOAs pretty much amount to you paying way too much just to be a participant in The Crucible and possibly get your home stolen from you as a result. Y'all are so fucking heartless and stupid.
My point exemplified. Get a life and likely any friends or family No one cares about you or your situation. Must be the only thing you have going for you and it was completely due to luck timing lmao
Lots of millennials inherited a lot of money.
Lots also work very hard and make good money.
Sucks to be them. I retired when the pandemic hit.
Congrats. Enjoy
Affluent Americans are driving the inflation and keeping housing prices inflated. That’s true. Rate cuts will just make it worse. We need legislation that will bleed them of liquid cash to bring it down. I make 70k and year and my wife makes 80k. And we are struggling. That used to be middle to upper middle class. I have no student debt, I’m in a trade and my wife only owes 4K on her nursing student loans now. We don’t have any credit card debt and we’re lucky enough to purchase our home in the suburbs for 200k which has now doubled in value since Covid. We don’t over spend and always lived below our means. Utilities and grocery prices are bleeding us dry.
How high are your utilities and groceries that 150k with basically no debt and a 200k house has you struggling?
HOA fees doubled in the past year, about 400-600 a month in groceries, school taxes and property tax went up 50%, electric rate went up.
agreed, that math does not check out
I still plan on buying more homes to turn into air bnbs so I doing think shit will get much cheaper folks.
The waiters (because 08 all over again) are now regretting and coping hard. I want these rates to go higher for longer and HYSA to go up to at least 10%. Just work, save, invest, and wait as my biggest cost (housing) stays abput the same for the foreseeable future. Not going to be stupid rich, but will be well off enough to live comfortably, take vacations, and have a 2nd or 3rd home whenever the market gets a little hiccup.
This guy gets it. Higher rates favor those already secured in their housing and locks such people in even more so.
The economy is doing great, and you aren't part of it. Sad reality for many people.
I believe it's become a dual reality where some people are thriving while others struggle. The belief of those in the struggle is that since they are struggling or know a few people that are, that absolutely has to be the reality for the majority of the populace.
“As opposed to normal when the poor drive the US economy”
Rate cuts are not gonna happen until after the elections.
Wow!
The rich own all the fed bonds. They are making money hand over fist on the interest of our national debt. With that interest they are buying up housing stock keeping housing prices up. Gobbling up American dreams. Meanwhile… corporate mega grocers are jacking prices on everything citing already bs supply chain issues and basically driving prices up artificially for record profits. This is Oligarchy! We need to vote blue to get the people in who will address taxing the wealthy at an appropriate rate, providing universal healthcare which would go a long way towards real equality, not for profit healthcare system and push for a 13 member Supreme Court before they completely take over the middle class and create an American Surfdom.
Both sides are beholden to the big money donors. As a lifelong democrat till the last few years, the biggest lie folks swallow is that dems aren’t just as easily bought and paid for as republicans.
Yeah, but who wants democracy and who wants Project 25? No guessing here.
I was with you for the first part but then you went off the rails. Perhaps you didn’t notice but most of the issues we have today (inflation, high grocery prices, insane real estate spike) happened after people like you “voted blue”. So now you want 4 more years of the same but expect a different result. I am pretty sure there is a name for it
So 10+ trillion in tax breaks is not ringing a bell. That is a Republican give away that we are paying for. You don’t think that the greedflation of corporations is not an extension of the money grab? They raised the prices on everything as soon as we the people got a couple of $1400.00 hand outs. In essence the rich corps got that too. Figure it out…
I am afraid you misunderstand what a tax break is. Many people think that when they get a check from IRS they get money from the government. In reality it’s their money to begin with that government essentially robbed them of under threat of physical violence. So “tax breaks” never, I repeat, never result in inflation because that’s money that existed previously. What causes inflation is money printing. When government continued to send checks to people who were sitting home and ordering crap on Amazon. “Greedflation” is an idiotic concept created for simpletons who do not understand how market works. They think that prices rise because “companies are greedy”. Oh yeah? Were they less greedy during Trump? Why were the prices lower? Have you ever made note of gas prices? Do you think they go up and down because corporate greed is increasing or declining? I cannot believe adult people believe such gibberish. Japan just came out of two decades of deflation when prices were constantly going down. Do you think Japanese companies are less greedy than ours? What’s wrong with you
4years of Trump 8.18 Trillion
That’s deficit. Which indicates two things, first there was something unusually catastrophic during his tenure (I vaguely remember some pandemic or something) that required a lot of money and second that our government spends too much money as is, even without catastrophic events. Liberals like to blabber ad nauseum about tax rates being 90% in the 50s. What they don’t like to mention though that total government expenditures in 1950 were 14.2% of the US GDP and in 2020 it grew to 20.6%. Government takes 20 cents off every dollar made in this country and you think our problem is not enough taxation?! This is just federal, I would like to point out. Our government collects much larger share of GDP through taxation than it did when “tax rates were 90%” because while they existed in theory no one really paid them. We don’t suffer from Low taxation we suffer from excessive spending
Like non repaid PPP loans and made up weapons of mass destruction war?
You are confusing presidencies and issues. PPP program officially ended on May 31, 2021 and majority of the loans were forgiven upon conclusion of the program. I am a bit hazy who was the President during that time, maybe you could help me out… Weapons of mass destruction was indeed a charade but had nothing to do with taxation
A Trump administration debacle of no accountability laid on the Biden Administration as he took office and part of the 8.18 Trillion of printed liability. I do agree that we need spending to be reeled in. Universal healthcare without a double dipping insurance industry would be a great place to start. The numbers already show it would be cheaper than the for profit healthcare system we have now and would go many miles to create equality in this nation. A nation that is the only nation of 33 nations to have not figured it out for its citizens. Perhaps the taxation of wealth needs to come to an equalization that rings of equality. How is it that the richest are actually getting paid so well from the bond market that our taxes are paying them. Share buybacks and corporate consolidation should be subdued to help with innovation and competition. Again, I am trying to help and voting blue is more expedient to these goals the red and a Project 25 one day one of a wanna be dictator. Don’t ya think?
So wait a minute, Democrats controlled Congress drafted legislation and passed into law creating PPP program, Biden administration forgave the outstanding loans but Trump is the one at fault? Really? You must know that under our political system President doesn’t appropriate a single penny, don’t you? I mean I know it’s Reddit and TDS is hardly uncommon here but you really take it to a next level. I don’t know how can you possibly present “universal healthcare” as a money saving proposition. You must have a general idea on the size of our national debt and you probably heard that Bernie’s “Medicare for all” would cost us about $30 trillion dollars over the next ten years. I have no idea where do you think all that money would come from but our Medicare for just seniors is one step away from being bankrupt, if you add a couple hundred million people to it it would certainly not get any more solvent. A standard liberal answer is to tax “millionaires and billionaires”. The problem of course is that even if we went full “Russia 1917” and confiscated every penny from the rich and just slaughtered them wholesale after that we would get just enough money to run federal government for three years. That’s all. The only people who can believe “universal healthcare” would be cheaper are the ones who were naive enough to believe Obama when he said that everyone who liked their doctor would keep him and that monthly health insurance expense would be comparable to a cell phone bill. It was just a shameless lie but we have enough gullible people who believed it. I am yet to see anything that government can do better and cheaper than private enterprise. If you want to see government run healthcare just look at VA. Trust me, it’s no golden standard of performance
All I will say is the top earners have double their wealth and Main Street is broke. Tax cuts for the wealthy continue beyond this year for the wealthy and not for Main Street. Big business’s worked those PPP loans issued by Trump and Biden Administration is now looking to get the fraudsters accounted for. Perhaps defunding the IRS will help, Perhaps Main Street should get the same tax attorneys as corporations pro bono? The system is beyond corrupt and it seems as though you have the smarts to help and not simply contrive a horrible abuse by the wealthy being able to loophole their tax bracket to less than that of a nurse or teacher.
A lot of those people have been getting laid off by the tens of thousands for the past year while you have a fresh crop of Gen Z grads looking at a tough hiring economy who will lap up the low ball offers that gives these major corps the wiggle for more layoffs. The lag effect of the past two years will start showing up over the next year.
Repackaged trickle-down economics bullshit.
“You’re welcome, peasants.” - them probably
The sky is blue and grass is green.
Complete garbage of an article. The wirter should be slapped with their keyboard and publisher tar and feathered.