Edmunds Members - Cars and Conversations (Archived)

Sandman6472

Ours is based on the cost of living so guessing mine will also be the same 8.7% I don't get to see my s s payment because Uncle Sam takes it plus some extra to take care of my Medicare. Still happy I stayed with my Civil Service retirement instead of going over to the 401K back in 1984! Still think it sucks how Reagan screwed us over back in the day but in life I've found, what goes around...comes around!

oldfarmer50

driver100 said:

oldfarmer50 said:

driver100 said:

The trees are brilliant this year.....we are probably a little ahead of you for Fall colors.
But what kind of parking lot is that on your property...looks like you were in the hurricane's path?

That’s the remains of one of my greenhouses. It was finally destroyed in a WINTER storm and I haven’t picked up all the pieces.

Ah, sorry to hear that. It is hard enough farming the land, but then there are things you can't control...lots of them!

That’s ok, I was retired by then.

oldfarmer50

roadburner said:

explorerx4 said:

Getting a nice raise next year, 8.7%.

We received an 8% across the board in my office.

Too bad REAL inflation is 17%.

oldfarmer50

stickguy said:

Nice bump. I’ll have to update my retirement (“some day”) spreadsheet.

I’m sure my current employer will give their usual 0% and enjoy it annual raises!

Don’t feel bad, at my last review in January my boss told me I was getting a 10 cent raise (less than 1%) and I’m still waiting to see it.

Maybe he forgot.🥲

oldfarmer50

qbrozen said:

What's a raise?

Seriously, though, I just don't care for one when I keep planning on going into business for myself.

That was my philosophy in 1984 when I founded my farming empire. Plan on making half as much but sleeping twice as good at night.

explorerx4

@oldfarmer50,
Inflation depends on where you are spending your money.
If you don't have car loan or mortgage does a 10% rate affect you?

oldfarmer50

ab348 said:

My govt pension here has had 0% indexing for the last couple of years and that continues for a couple more. Sux.

My government pension went up by about 3.5% this year. I guess the COL went up less at the pension office than it did in the real world.

Not complaining though.🥰 compared to the 20% loss in my investments it’s positively generous.

oldfarmer50

explorerx4 said:

@oldfarmer50,
Inflation depends on where you are spending your money.
If you don't have car loan or mortgage does a 10% rate affect you?

Only at the grocery store.😩 But you’re right, now is the time to be debt free.

explorerx4

@oldfarmer50,
Now is the time to have low fixed rate debt.

stickguy

my 0.00% car loan is looking pretty good these days.

snakeweasel

roadburner said:

explorerx4 said:

Getting a nice raise next year, 8.7%.

We received an 8% across the board in my office.

And I'm due to a $0.30/hour longevity increase next month, wow.

venture

oldfarmer50 said:

ab348 said:

My govt pension here has had 0% indexing for the last couple of years and that continues for a couple more. Sux.

Not complaining though.🥰 compared to the 20% loss in my investments it’s positively generous.

I promised myself I wouldn't look. So far, I haven't

Although late last year I put some money that was just "lying in a drawer" into a Vanguard account. I did have a gander at that a few weeks ago. $15k had turned into $12.5k at that time.

Another $15k that is lying in that same drawer is still $15K.

oldfarmer50

venture said:

oldfarmer50 said:

ab348 said:

My govt pension here has had 0% indexing for the last couple of years and that continues for a couple more. Sux.

Not complaining though.🥰 compared to the 20% loss in my investments it’s positively generous.

I promised myself I wouldn't look. So far, I haven't

Although late last year I put some money that was just "lying in a drawer" into a Vanguard account. I did have a gander at that a few weeks ago. $15k had turned into $12.5k at that time.

Another $15k that is lying in that same drawer is still $15K.

Yeah, the drawer only lost 8.3%.😳

driver100

explorerx4 said:

@oldfarmer50,
Now is the time to have low fixed rate debt.

Some things don't change. If you don't rent, then rent increases won't go up, mortgage payments are steady unless you are renewing. Like you said, if you are locked into car payments they probably won't increase. Might have to watch groceries more carefully and cut back on some unnecessary food and clothing, eat out a little less often.

driver100

One thing that has really gone up is rental property in Florida. One friend had a place near North Port and he won't be able to rent it for the first time in over a decade....it needs repairs.
He was paying about $2500 a month for a 2 bedroom, nice pool and activities etc.
I was checking out places and it is hard to find anything you'd want to stay in for less than $8000 a month.
He may have to check Arizona for this winter.

Michaell

driver100 said:

One thing that has really gone up is rental property in Florida. One friend had a place near North Port and he won't be able to rent it for the first time in over a decade....it needs repairs.
He was paying about $2500 a month for a 2 bedroom, nice pool and activities etc.
I was checking out places and it is hard to find anything you'd want to stay in for less than $8000 a month.
He may have to check Arizona for this winter.

Driver, I was just reading an article in the NY Times about how Ian may have done permanent damage to the real estate market in Florida, due to the cost of insurance. It's possible many middle class folks won't be able to afford to buy houses there.

stickguy

People (especially Americans) tend to be slow learners. If Mother Nature keeps telling you not to build houses someplace, don’t keep building them!

driver100

Michaell said:

driver100 said:

One thing that has really gone up is rental property in Florida. One friend had a place near North Port and he won't be able to rent it for the first time in over a decade....it needs repairs.
He was paying about $2500 a month for a 2 bedroom, nice pool and activities etc.
I was checking out places and it is hard to find anything you'd want to stay in for less than $8000 a month.
He may have to check Arizona for this winter.

Driver, I was just reading an article in the NY Times about how Ian may have done permanent damage to the real estate market in Florida, due to the cost of insurance. It's possible many middle class folks won't be able to afford to buy houses there.

I don't know if people will stop buying property in Florida. It may put middle class people out of the market but people from around the world are buying, and they can probably afford whatever insurance will cost.
I understand flood insurance doesn't necessarily cover you for hurricanes. The government may have to provide insurance....possibly at high cost, that homeowners can buy to provide some level of security.

Personally, the risk of having property there is worth the reward for me. Some people have a risk of tornadoes, some forest fires, some drought conditions, some like Buffalo have mountains of snow. I am wondering if house prices will advance since many people are looking for places to live now....I see one unit in our complex went up 10% asking price since Ian. But, the cost of seasonal rentals has skyrocketed, it looks like prices tripled in popular areas.....and that has caused increases in other areas too.

It will be interesting to see what happens.

snakeweasel

venture said:

oldfarmer50 said:

ab348 said:

My govt pension here has had 0% indexing for the last couple of years and that continues for a couple more. Sux.

Not complaining though.🥰 compared to the 20% loss in my investments it’s positively generous.

I promised myself I wouldn't look. So far, I haven't

Although late last year I put some money that was just "lying in a drawer" into a Vanguard account. I did have a gander at that a few weeks ago. $15k had turned into $12.5k at that time.

Another $15k that is lying in that same drawer is still $15K.

But the money in the drawer can only buy $13,695 worth of stuff in 2021 dollars. The Vanguard account has the ability to regain the lost value, the money in your sock (I am presuming it's a sock drawer) will never regain it's lost value.

snakeweasel

stickguy said:

People (especially Americans) tend to be slow learners. If Mother Nature keeps telling you not to build houses someplace, don’t keep building them!

Well you can always move inland. Why do you think Disney picked Orlando? Sure they get hit but not nearly as bad.

snakeweasel

driver100 said:

Michaell said:

driver100 said:

One thing that has really gone up is rental property in Florida. One friend had a place near North Port and he won't be able to rent it for the first time in over a decade....it needs repairs.
He was paying about $2500 a month for a 2 bedroom, nice pool and activities etc.
I was checking out places and it is hard to find anything you'd want to stay in for less than $8000 a month.
He may have to check Arizona for this winter.

Driver, I was just reading an article in the NY Times about how Ian may have done permanent damage to the real estate market in Florida, due to the cost of insurance. It's possible many middle class folks won't be able to afford to buy houses there.

I don't know if people will stop buying property in Florida. It may put middle class people out of the market but people from around the world are buying, and they can probably afford whatever insurance will cost.
I understand flood insurance doesn't necessarily cover you for hurricanes. The government may have to provide insurance....possibly at high cost, that homeowners can buy to provide some level of security.

Personally, the risk of having property there is worth the reward for me. Some people have a risk of tornadoes, some forest fires, some drought conditions, some like Buffalo have mountains of snow. I am wondering if house prices will advance since many people are looking for places to live now....I see one unit in our complex went up 10% asking price since Ian. But, the cost of seasonal rentals has skyrocketed, it looks like prices tripled in popular areas.....and that has caused increases in other areas too.

It will be interesting to see what happens.

You know I'd rather risk tornadoes than hurricanes. Hurricanes are huge while tornadoes are small and localized.

graphicguy

I’ve really slowed my house hunting. But, every once in a while (like a few weeks ago) something will spark my interest (like down where @kyfdx lives) and I’ll throw out a bid. But, I’m woefully out of touch with the real estate market. I guess that’s why I haven’t moved yet.

kyfdx

graphicguy said:

I’ve really slowed my house hunting. But, every once in a while (like a few weeks ago) something will spark my interest (like down where @kyfdx lives) and I’ll throw out a bid. But, I’m woefully out of touch with the real estate market. I guess that’s why I haven’t moved yet.

I have a house for sale in Lexington.. hit me up.

Michaell

driver100 said:

Michaell said:

driver100 said:

One thing that has really gone up is rental property in Florida. One friend had a place near North Port and he won't be able to rent it for the first time in over a decade....it needs repairs.
He was paying about $2500 a month for a 2 bedroom, nice pool and activities etc.
I was checking out places and it is hard to find anything you'd want to stay in for less than $8000 a month.
He may have to check Arizona for this winter.

Driver, I was just reading an article in the NY Times about how Ian may have done permanent damage to the real estate market in Florida, due to the cost of insurance. It's possible many middle class folks won't be able to afford to buy houses there.

I don't know if people will stop buying property in Florida. It may put middle class people out of the market but people from around the world are buying, and they can probably afford whatever insurance will cost.
I understand flood insurance doesn't necessarily cover you for hurricanes. The government may have to provide insurance....possibly at high cost, that homeowners can buy to provide some level of security.

Personally, the risk of having property there is worth the reward for me. Some people have a risk of tornadoes, some forest fires, some drought conditions, some like Buffalo have mountains of snow. I am wondering if house prices will advance since many people are looking for places to live now....I see one unit in our complex went up 10% asking price since Ian. But, the cost of seasonal rentals has skyrocketed, it looks like prices tripled in popular areas.....and that has caused increases in other areas too.

It will be interesting to see what happens.

That was mentioned in the article - those that can afford to self-insure will likely be the only ones left in the market.

Supply and demand are driving those seasonal price increases. I'm sure a lot of houses that were destroyed in Ian were rental properties.

venture

snakeweasel said:

venture said:

oldfarmer50 said:

ab348 said:

My govt pension here has had 0% indexing for the last couple of years and that continues for a couple more. Sux.

Not complaining though.🥰 compared to the 20% loss in my investments it’s positively generous.

I promised myself I wouldn't look. So far, I haven't

Although late last year I put some money that was just "lying in a drawer" into a Vanguard account. I did have a gander at that a few weeks ago. $15k had turned into $12.5k at that time.

Another $15k that is lying in that same drawer is still $15K.

But the money in the drawer can only buy $13,695 worth of stuff in 2021 dollars. The Vanguard account has the ability to regain the lost value, the money in your sock (I am presuming it's a sock drawer) will never regain it's lost value.

So I can buy $1200 more stuff then. Good move.

driver100

Michaell said:

driver100 said:

Michaell said:

driver100 said:

One thing that has really gone up is rental property in Florida. One friend had a place near North Port and he won't be able to rent it for the first time in over a decade....it needs repairs.
He was paying about $2500 a month for a 2 bedroom, nice pool and activities etc.
I was checking out places and it is hard to find anything you'd want to stay in for less than $8000 a month.
He may have to check Arizona for this winter.

Driver, I was just reading an article in the NY Times about how Ian may have done permanent damage to the real estate market in Florida, due to the cost of insurance. It's possible many middle class folks won't be able to afford to buy houses there.

I don't know if people will stop buying property in Florida. It may put middle class people out of the market but people from around the world are buying, and they can probably afford whatever insurance will cost.
I understand flood insurance doesn't necessarily cover you for hurricanes. The government may have to provide insurance....possibly at high cost, that homeowners can buy to provide some level of security.

Personally, the risk of having property there is worth the reward for me. Some people have a risk of tornadoes, some forest fires, some drought conditions, some like Buffalo have mountains of snow. I am wondering if house prices will advance since many people are looking for places to live now....I see one unit in our complex went up 10% asking price since Ian. But, the cost of seasonal rentals has skyrocketed, it looks like prices tripled in popular areas.....and that has caused increases in other areas too.

It will be interesting to see what happens.

That was mentioned in the article - those that can afford to self-insure will likely be the only ones left in the market.

Supply and demand are driving those seasonal price increases. I'm sure a lot of houses that were destroyed in Ian were rental properties.

In the park where my friend stays for the winter, it is close to 50/50 I am guestimating. Now the full time residents, will be looking for a new place to stay until repairs are made. Some might want to buy and then rebuild the destroyed unit........especially if prices seem to be on the rise, or if they can buy a new place and rent out for a profit????????? Rents went up a lot faster than real estate values.

driver100

snakeweasel said:

driver100 said:

Michaell said:

driver100 said:

One thing that has really gone up is rental property in Florida. One friend had a place near North Port and he won't be able to rent it for the first time in over a decade....it needs repairs.
He was paying about $2500 a month for a 2 bedroom, nice pool and activities etc.
I was checking out places and it is hard to find anything you'd want to stay in for less than $8000 a month.
He may have to check Arizona for this winter.

Driver, I was just reading an article in the NY Times about how Ian may have done permanent damage to the real estate market in Florida, due to the cost of insurance. It's possible many middle class folks won't be able to afford to buy houses there.

I don't know if people will stop buying property in Florida. It may put middle class people out of the market but people from around the world are buying, and they can probably afford whatever insurance will cost.
I understand flood insurance doesn't necessarily cover you for hurricanes. The government may have to provide insurance....possibly at high cost, that homeowners can buy to provide some level of security.

Personally, the risk of having property there is worth the reward for me. Some people have a risk of tornadoes, some forest fires, some drought conditions, some like Buffalo have mountains of snow. I am wondering if house prices will advance since many people are looking for places to live now....I see one unit in our complex went up 10% asking price since Ian. But, the cost of seasonal rentals has skyrocketed, it looks like prices tripled in popular areas.....and that has caused increases in other areas too.

It will be interesting to see what happens.

You know I'd rather risk tornadoes than hurricanes. Hurricanes are huge while tornadoes are small and localized.

Not necessarily:
While both types of storms are capable of producing destructive winds, tornadoes can become stronger than hurricanes. The most intense winds in a tornado can exceed 300 miles per hour, while the strongest known Atlantic hurricane contained winds of 190 miles per hour.

However, the worst one is the one you are in the middle of

oldfarmer50

graphicguy said:

I’ve really slowed my house hunting. But, every once in a while (like a few weeks ago) something will spark my interest (like down where @kyfdx lives) and I’ll throw out a bid. But, I’m woefully out of touch with the real estate market. I guess that’s why I haven’t moved yet.

If you have cash, be patient. If the internet gurus are correct, the combination of recession and high interest rates will create a buyer’s market not seen since 2008.

stickguy

I don’t think prices are tanking. Still not enough supply.

stickguy

The NJ shore town we vacation at (and sadly did not buy in 20 years ago!) has same issue with summer rents. It’s a snooty (expensive) town and for decades all the older rental bungalows have been bought up, razed, and replaced with huge private houses. The rental property supply just keeps shrinking. Especially anything normal people can afford. Supply and demand rules.

Every year we think they can’t sell all those 2.5mill new houses, but they do. And they mostly sit empty during the week.

Not sure what insurance they have in case another superstorm clears off the skinny barrier island the town is on. But I’m sure if not enough they will come crying to the government to buy them a new one.

kyfdx

The whole vacation rental market went nuts because of COVID, more than anything else. After a year of not spending money, people were geared up to get out there. The same thing happened to the collector and exotic car market.

Five years ago, finding a one or three month rental in Florida was easy. The last two years, it's been nearly impossible.

snakeweasel

driver100 said:

snakeweasel said:

driver100 said:

Michaell said:

driver100 said:

One thing that has really gone up is rental property in Florida. One friend had a place near North Port and he won't be able to rent it for the first time in over a decade....it needs repairs.
He was paying about $2500 a month for a 2 bedroom, nice pool and activities etc.
I was checking out places and it is hard to find anything you'd want to stay in for less than $8000 a month.
He may have to check Arizona for this winter.

Driver, I was just reading an article in the NY Times about how Ian may have done permanent damage to the real estate market in Florida, due to the cost of insurance. It's possible many middle class folks won't be able to afford to buy houses there.

I don't know if people will stop buying property in Florida. It may put middle class people out of the market but people from around the world are buying, and they can probably afford whatever insurance will cost.
I understand flood insurance doesn't necessarily cover you for hurricanes. The government may have to provide insurance....possibly at high cost, that homeowners can buy to provide some level of security.

Personally, the risk of having property there is worth the reward for me. Some people have a risk of tornadoes, some forest fires, some drought conditions, some like Buffalo have mountains of snow. I am wondering if house prices will advance since many people are looking for places to live now....I see one unit in our complex went up 10% asking price since Ian. But, the cost of seasonal rentals has skyrocketed, it looks like prices tripled in popular areas.....and that has caused increases in other areas too.

It will be interesting to see what happens.

You know I'd rather risk tornadoes than hurricanes. Hurricanes are huge while tornadoes are small and localized.

Not necessarily:
While both types of storms are capable of producing destructive winds, tornadoes can become stronger than hurricanes. The most intense winds in a tornado can exceed 300 miles per hour, while the strongest known Atlantic hurricane contained winds of 190 miles per hour.

However, the worst one is the one you are in the middle of

While tornadoes can generate insanely high winds the path of destruction is rather thin and mostly short lived. If a tornado goes by my house a quarter mile away there is a really good chance that my property will suffer minor damage or even none at all. In a hurricane I could be miles away from landfall and suffer complete destruction.

Not to mention hurricanes spawn tornadoes, no tornado has ever spawned a hurricane.

jmonroe1

@driver100 said:
Some things don't change. If you don't rent, then rent increases won't go up, mortgage payments are steady unless you are renewing. Like you said, if you are locked into car payments they probably won't increase. Might have to watch groceries more carefully and cut back on some unnecessary food and clothing, eat out a little less often.

———————————————-
You know inflation is pretty bad when the price of potato chips has gone up. I might have to switch to pretzels.

jmonroe

snakeweasel

stickguy said:

I don’t think prices are tanking. Still not enough supply.

You don't have to increase supply, decreasing demand will do it. High interest rates and a recession can reduce the number of buyers and therefor reduce prices.

snakeweasel

jmonroe1 said:

@driver100 said:

Some things don't change. If you don't rent, then rent increases won't go up, mortgage payments are steady unless you are renewing. Like you said, if you are locked into car payments they probably won't increase. Might have to watch groceries more carefully and cut back on some unnecessary food and clothing, eat out a little less often.

———————————————-

You know inflation is pretty bad when the price of potato chips has gone up. I might have to switch to pretzels.

jmonroe

Just buy an air fryer and a sack of potatoes and make your own.

snakeweasel

Working from home does have some advantages. My view out my back window.

stickguy

I am listening to a cement mixer 3 lots down, pouring sidewalks for a new build they are just finishing up.

pretty much the same thing.

stickguy

snakeweasel said:

stickguy said:

I don’t think prices are tanking. Still not enough supply.

You don't have to increase supply, decreasing demand will do it. High interest rates and a recession can reduce the number of buyers and therefor reduce prices.

of course, but what I think is more likely is that it goes back closer to normal. Nice houses priced fairly will sell. You won't however deal with what I did this summer, with a feeding frenzy of offers and a bidding war.

I could see builders getting the short end again though. From what I see, they really jacked up prices and were getting people tired of chasing after resales. But if resales become easier to get and prices moderate a bit, people will stop paying the big markup for new. Then they mothball units, decreasing supply, and the cycle begins again!

andres3

oldfarmer50 said:

graphicguy said:

I’ve really slowed my house hunting. But, every once in a while (like a few weeks ago) something will spark my interest (like down where @kyfdx lives) and I’ll throw out a bid. But, I’m woefully out of touch with the real estate market. I guess that’s why I haven’t moved yet.

If you have cash, be patient. If the internet gurus are correct, the combination of recession and high interest rates will create a buyer’s market not seen since 2008.

I wouldn't mind a housing crash. The banks claim they are protected and insulated from huge losses this time around though. Less of the "I'm getting a bailout anyway" type loans out there.

driver100

snakeweasel said:

driver100 said:

snakeweasel said:

driver100 said:

Michaell said:

driver100 said:

One thing that has really gone up is rental property in Florida. One friend had a place near North Port and he won't be able to rent it for the first time in over a decade....it needs repairs.
He was paying about $2500 a month for a 2 bedroom, nice pool and activities etc.
I was checking out places and it is hard to find anything you'd want to stay in for less than $8000 a month.
He may have to check Arizona for this winter.

Driver, I was just reading an article in the NY Times about how Ian may have done permanent damage to the real estate market in Florida, due to the cost of insurance. It's possible many middle class folks won't be able to afford to buy houses there.

I don't know if people will stop buying property in Florida. It may put middle class people out of the market but people from around the world are buying, and they can probably afford whatever insurance will cost.
I understand flood insurance doesn't necessarily cover you for hurricanes. The government may have to provide insurance....possibly at high cost, that homeowners can buy to provide some level of security.

Personally, the risk of having property there is worth the reward for me. Some people have a risk of tornadoes, some forest fires, some drought conditions, some like Buffalo have mountains of snow. I am wondering if house prices will advance since many people are looking for places to live now....I see one unit in our complex went up 10% asking price since Ian. But, the cost of seasonal rentals has skyrocketed, it looks like prices tripled in popular areas.....and that has caused increases in other areas too.

It will be interesting to see what happens.

You know I'd rather risk tornadoes than hurricanes. Hurricanes are huge while tornadoes are small and localized.

Not necessarily:
While both types of storms are capable of producing destructive winds, tornadoes can become stronger than hurricanes. The most intense winds in a tornado can exceed 300 miles per hour, while the strongest known Atlantic hurricane contained winds of 190 miles per hour.

However, the worst one is the one you are in the middle of

While tornadoes can generate insanely high winds the path of destruction is rather thin and mostly short lived. If a tornado goes by my house a quarter mile away there is a really good chance that my property will suffer minor damage or even none at all. In a hurricane I could be miles away from landfall and suffer complete destruction.

Not to mention hurricanes spawn tornadoes, no tornado has ever spawned a hurricane.

But you may survive if you are in the middle of a hurricane, especially if you have a well made building.....but it would be harder to survive...maybe impossible if you are in the middle of a tornado.

However, there is no argument....they are both bad, it depends on a lot of variables which is worse for someone at any time or place....one isn't worse than the other...it depends.

driver100

jmonroe1 said:

@driver100 said:

Some things don't change. If you don't rent, then rent increases won't go up, mortgage payments are steady unless you are renewing. Like you said, if you are locked into car payments they probably won't increase. Might have to watch groceries more carefully and cut back on some unnecessary food and clothing, eat out a little less often.

———————————————-

You know inflation is pretty bad when the price of potato chips has gone up. I might have to switch to pretzels.

jmonroe

....and those are the kind of changes that can make a difference. For example, people are buying more store brands than name brands. Next thing you may have to do to cut back is to buy store brand no-name pretzels.

oldfarmer50

stickguy said:

I don’t think prices are tanking. Still not enough supply.

Are you saying that some random guy on the internet is wrong?🐂

oldfarmer50

stickguy said:

The NJ shore town we vacation at (and sadly did not buy in 20 years ago!) has same issue with summer rents. It’s a snooty (expensive) town and for decades all the older rental bungalows have been bought up, razed, and replaced with huge private houses. The rental property supply just keeps shrinking. Especially anything normal people can afford. Supply and demand rules.

Every year we think they can’t sell all those 2.5mill new houses, but they do. And they mostly sit empty during the week.

Not sure what insurance they have in case another superstorm clears off the skinny barrier island the town is on. But I’m sure if not enough they will come crying to the government to buy them a new one.

Back in 2009 I was seriously considering getting a condo in Florida as prices had fallen 50%. I think I missed my opportunity.

stickguy

at least the Tornado is just wind. the Hurricane adds all the water on top of the wind to really cause damage and kill people.

snakeweasel

driver100 said:

jmonroe1 said:

@driver100 said:

Some things don't change. If you don't rent, then rent increases won't go up, mortgage payments are steady unless you are renewing. Like you said, if you are locked into car payments they probably won't increase. Might have to watch groceries more carefully and cut back on some unnecessary food and clothing, eat out a little less often.

———————————————-

You know inflation is pretty bad when the price of potato chips has gone up. I might have to switch to pretzels.

jmonroe

....and those are the kind of changes that can make a difference. For example, people are buying more store brands than name brands. Next thing you may have to do to cut back is to buy store brand no-name pretzels.

The sad thing is that when they calculate inflation they take that into account. So if your brand named chips that cost $1.00 a year ago now cost $1.25 but the store brand ones now cost $1.05 inflation is 5%.

snakeweasel

oldfarmer50 said:

stickguy said:

I don’t think prices are tanking. Still not enough supply.

Are you saying that some random guy on the internet is wrong?🐂

That can't be, we all know that if it's on the internet it must be right.

oldfarmer50

andres3 said:

oldfarmer50 said:

graphicguy said:

I’ve really slowed my house hunting. But, every once in a while (like a few weeks ago) something will spark my interest (like down where @kyfdx lives) and I’ll throw out a bid. But, I’m woefully out of touch with the real estate market. I guess that’s why I haven’t moved yet.

If you have cash, be patient. If the internet gurus are correct, the combination of recession and high interest rates will create a buyer’s market not seen since 2008.

I wouldn't mind a housing crash. The banks claim they are protected and insulated from huge losses this time around though. Less of the "I'm getting a bailout anyway" type loans out there.

Just beware of the Dodd-Frank Act “bail-ins”. It makes that sock drawer idea attractive.

snakeweasel

stickguy said:

at least the Tornado is just wind. the Hurricane adds all the water on top of the wind to really cause damage and kill people.

Tornados are usually accompanied by some serious rain. I had a friend in high school who had a tree in front of his next door neighbors house that had a piece of metal sliced well into it by a tornado. Yeah don't get hit by anything going 300 MPH.

snakeweasel

Ok this is for everyone today.


https://www.youtube.com/watch?v=CBZOI0YOjXo

driver100

stickguy said:

at least the Tornado is just wind. the Hurricane adds all the water on top of the wind to really cause damage and kill people.

A tornado is just wind might be true, but when cows go flying through the air that can be dangerous. I don't think hurricanes pick up cows and trucks etc. and spin them through the air.

And, once I read (maybe on the internet, lol...no it was a real science thing)....that even a sliver of straw could go right through you like a knife in a 300 mph tornado wind.