More bad economy news

[Magnus]

Well yeah I'm not going to defend it or condemn it. It's just there. There's pros and cons.

LOL So your statements...

Truth is the market is being driven artificially by whales.

They swoop in with cash buys, renovate and then Rent at exorbitant rates. Massive cash flow business.

...was just brain farts? Thanks for letting us know.

 

[CrusaderFrank]

Fed’s Operating Losses Swelled to Record $114.3 Billion in 2023​

• Interest expenses exceeded earnings as rates climbed
• Bidenomics to blame. Spend MORE MONEY! SLAVA UKRIANIAN MONEY LAUNDERING OPERATION

 

[justoffal]

LOL So your statements...



...was just brain farts? Thanks for letting us know.

No.... They are the actual condition of the market. 70% of low cost units are bring cash bought by less than 1% of buyers. I do actuarial work on the side for real estate firms.

 

[Magnus]

No.... They are the actual condition of the market. 70% of low cost units are bring cash bought by less than 1% of buyers. I do actuarial work on the side for real estate firms.

Yes, I know. But you were the ones whining about it till I pointed out that it was capitalism at its finest.

So, which is it? Evil or not?

 

[justoffal]

Yes, I know. But you were the ones whining about it till I pointed out that it was capitalism at its finest.

So, which is it? Evil or not?

Not whining....just pointing out that most of the populous....which is also most of the votes....is out in the cold.

It's stupid to tell them that everything is great.

Not sure I want to use the evil word. Most people don't plan.

 

[Harpy Eagle]

You are too stupid to know that the economy is booming! So check this out....the highly touted rise in median income is actually meaningless and in the Algebraic Sum amounts to a loss.

Today the median household income is up to $81,000, but the income required to afford a home comfortably has soared to $106,500. Home prices have risen 42.4% in that period, to $343,000, and average mortgage rates have nearly doubled, from 3.5% to 6.6%.

Jo

So, bad news if you want to buy a house, great news if you own a house.

 

[justoffal]

So, bad news if you want to buy a house, great news if you own a house.

Yes....but selling it offers no real advantage in this climate.

 

[Harpy Eagle]

Yes....but selling it offers no real advantage in this climate.

Glad I already own a home then!

 

[Magnus]

Not whining....just pointing out that most of the populous....which is also most of the votes....is out in the cold.

It's stupid to tell them that everything is great.

Not sure I want to use the evil word. Most people don't plan.

Really? You don't think people realize the disparity between their salaries and house prices?

I am in my 60s and on my third house. There has never been a time when my salary overtook the price of the house I wanted to buy.

You are sounding like a socialist, old boy. Be careful, you may be drummed out of the Republican party.

 

[justoffal]

Really? You don't think people realize the disparity between their salaries and house prices?

I am in my 60s and on my third house. There has never been a time when my salary overtook the price of the house I wanted to buy.

You are sounding like a socialist, old boy. Be careful, you may be drummed out of the Republican party.

No... absolutely not. The majority of Americans have no idea when it comes to currency
Viability. They live paycheck to paycheck and to them TODAY is the economy.

 

[Oddball]

No.... They are the actual condition of the market. 70% of low cost units are bring cash bought by less than 1% of buyers. I do actuarial work on the side for real estate firms.

Yoo veel own noting and like it, and eet zee bugs.

 

[DStar777]

Today the median household income is up to $81,000, but the income required to afford a home comfortably has soared to $106,500. Home prices have risen 42.4% in that period, to $343,000, and average mortgage rates have nearly doubled, from 3.5% to 6.6%.

I found the article where this comes from:

The Income Needed to Buy a Typical Home Has Soared 80% Since 2020​

 

[Concerned American]

Truth is the market is being driven artificially by whales.

They swoop in with cash buys, renovate and then Rent at exorbitant rates. Massive cash flow business.

Apartment complexes have been a cash cow for them for years. The build them, rent them out and then sell the complex just about the time that the shoddy construction practices start falling apart. They play the same game with condo complexes. Anyone who buys a condo/apartment should have their head examined.