POLITICS Inflation /General Finance Insanity

While I didn’t read this specific Bloomberg article, the information in this tweet feels very alarming. That singular year jump seems significant. My generation and younger is so screwed. Feels like most of us will be on the renting cycle forever.

 

I was fortunate to buy a home in late 2020. I feel so sorry for younger folks that work under me who are probably in like the 95th percentile of income for their age and can’t afford a home that isn’t a dump or 40 minutes from town.

 

Yes. And the median household income is significantly less than 74k. I have been saying this for years. This really started sometime last decade.

 

I read somewhere the median home price in the US is somewhere around $373k. I wouldn't spend that much on a house at that salary.

 

What is even more damning are rent prices.

 

Nashville especially is demoralizing when it comes to finding just a semi decent and affordable home that isn’t all the way out in like Clarksville or something. Where I’m currently at in East Nashville, it seems like every new home construction are one of those tacky Dr. Suess-book-looking vertical row homes with maybe 10 feet of backyard space selling for like 1 million+ a pop. Or if you really save up and desire something with a tad more square feet that is more traditional looking other than a newly built gaudy vertical row home, you can purchase a fully renovated house originally built in like the 1940s for like 3 or 4 million.

 

The dimensions stuff is just math. Millions of homes take space that isn't there as a city grows to millions

 

Well yea, I get that. The dimension rift is just an attempt to convey how the bang for your buck just ain't there like it used to be.

The cost of the above mentioned homes making them inaccessible to the masses-not my personal distaste for the architecture of these homes-is my point. If only upper class families or corporate entities like BlackRock end up being the only ones who will ever actually be capable of owning all these "millions"(insert whatever number you want here) of home inventory already existing or being built in Nashville, then everyone here is screwed in the long run. People being able to live here comfortably within their means and buy their family a decent home to grow up in was always a large component of what made Nashville a wonderful place to live these last 25/30 years. I fear we have mostly, if not already completely, lost that element of Nashville. Sad and concerning stuff as someone who both deeply cares about this city and as someone who has spent most of his life living throughout the Greater Nashville Area.

 

This is happening in every regional hub city, unfortunately. The housing crisis has been growing for over a decade, it is just now stretching up through the whole middle class

 

Housing is a real asset in an environment with artificially low interest rates.

It’s a real head scratcher that it increased prices.

Average price will drop if Powell is successful at keeping elevated rates for the long term though

 

Does anybody really think elevated rates will stay for very long? I expect the pressure will be on the fed to cheapen money again at the first hint of improvement.

 

I don’t believe it either but they might not have much of an option.

globalization is most likely dead and we’ve gotten away with a lot of make believe economics because of China since the 90’s.

That’s not on the table any more.

 

NSFW



Whether it is all true and valid or not, I don't know, but it is funny.

 

I laffed!

I doubt that this is NSFW down Under.

When I was working on a project in Sydney, I worked with a bunch of guys from Melbourne. All white collar professionals. This was their normal grammar. "[uck fay]" is a more acceptable every day word.

I had a blast working down there.

 

SBF arrested on the eve before he was set to testify in Congress on the fraudulent company he was running. I’m sure the timing is merely a coincidence!

 

So much bullshit within our government. [uck fay] the establishment

 

Heck, they ought to drive him over and let him testify in stripes.

 

It's pathetic.

 

And disenfranchising. Blatant “coincidental” BS like this is another example of 1000s as to why more and more folks desire blowing up the system via the populism route. You just can’t defend him miraculously no longer having to testify mere here hours before he was set to do so. God forbid the DOJ wait 18 more hours to announce all this. Everyone knows what is going on with the timing on this.