Housing market

[KnappShack]

My buddy just bought a townhome brand new East of Ankeny. No basement, no coat closet. 3 BRs upstairs. 2 car garage. Over $250k.

It blows me away what it costs right now. It's just a shiny POS if you ask me. We bought a beautiful ranch with walkout. Backs to the creek and has a bunch of landscaping on 3/4 acre lot. We almost passed it up at $320k. This was 9 years ago. Based on the crap I see I should be able to get $750k for it. I think Zillow estimates $480k. Guessing I'd get $500k.

But what a mess this country is in. Price of a 12 pack of soda is $9. Can't get a decent sandwich for under $12. People are having to finance ****** homes at high price and high interest. Thankfully I'm over 50 with a good job but I feel bad for those just starting out. Not sure how you can buy a home and save for retirement if you make less than 6 figures.

12 pack of Coke at Hy-Vee is $4.99.

Inflation is out there. No need to try and make it seem worse than it is.

 

[FriendlySpartan]

1650 sq ft as a starter home???

Isn’t it? That kinda the size starter homes in the area in Michigan. Then the other home is 2500+. If you see a home smaller then that in a decent to good area it’s just getting bulldozed and having a monster put in,

If you want politicians to do something they could limit house size in relation to the lit and a lot more starter homes would be in existence. At least in some parts

 

[FriendlySpartan]

12 pack of Coke at Hy-Vee is $4.99.

Inflation is out there. No need to try and make it seem worse than it is.

That 12pqxk costs a lot more if you add in the diabetes

 

[BCClone]

Isn't inflation currently a little over 3%? What reports are saying it's double digits?

Wife had the TV on either this morning or yesterday morning, not sure what channel or show, but the lady was talking that inflation was tracking in the high 9s right now. With gas up 50 cents in a couple days it made sense.

 

[cycloneG]

Wife had the TV on either this morning or yesterday morning, not sure what channel or show, but the lady was talking that inflation was tracking in the high 9s right now. With gas up 50 cents in a couple days it made sense.

The latest data shows inflation at 3.6%.

https://www.cnn.com/2023/09/12/investing/premarket-stocks-trading/index.html

 

[BCClone]

The latest data shows inflation at 3.6%.

https://www.cnn.com/2023/09/12/investing/premarket-stocks-trading/index.html

Not sure where that lady got it then. I looked at the month to month and using that would only show a 7.2% simple rate for CPI. I will need to try to figure out who that was and where she got her info.

 

[Gunnerclone]

Isn't inflation currently a little over 3%? What reports are saying it's double digits?

Everything except gas has gotten noticeably cheaper over the past month imo.

 

[mynameisjonas]

3 years ago a dog food that my pup likes was $1, now it’s $2.

 

[stateofmind]

That’s the thing, Boomer, 6 figures is the new 50k.

GenX is the new baby boomer? Are you going trying to say we have as many 6 figure jobs today as $50k jobs as 10 years ago?

12 pack of Coke at Hy-Vee is $4.99.

Inflation is out there. No need to try and make it seem worse than it is.

I went to Fareway at lunch and it was $8.99. Friday I was at Hy Vee and it was like $8.49 I think. But if you bought 5 of them it would be $5 each. 5 or so years ago the 5 for $10 was the deal. I’m happy I don’t drink it often.

 

[Clonehomer]

Everything except gas has gotten noticeably cheaper over the past month imo.

Somehow gas went up $0.80 per gallon this week for me ($3.29 to $4.09). Wondering what happened to cause such an increase. Then I remembered, yeah it’s just corporate greed and that extra $0.80 is going directly to the shareholders.

 

[SCNCY]

Somehow gas went up $0.80 per gallon this week for me ($3.29 to $4.09). Wondering what happened to cause such an increase. Then I remembered, yeah it’s just corporate greed and that extra $0.80 is going directly to the shareholders.

I think the Saudi's cut oil production.

 

[BCClone]

I think the Saudi's cut oil production.

But other countries increased to more than offset it. Due to hurricanes they say.

 

[Clonehomer]

I think the Saudi's cut oil production.

Only 15% of the oil we use comes from OPEC. So I guess the shareholders only get 85% of that $0.80 increase. We all hear from the GOP is how we need to drill more, but what does that matter if the price is still based on the global market? All that extra oil capacity is just profit for oil companies and the consumer doesn’t see any relief.

 

[twojman]

Isn't inflation currently a little over 3%? What reports are saying it's double digits?

Probably a crazy 'alternative media's site.

August core inflation, excluding food and energy, rose 0.3%, hotter than expected

The consumer price index was expected to increase 0.6% in August and 3.6% from a year ago, according to the Dow Jones consensus estimate.

www.google.com

 

[ClonesFTW]

Isn't inflation currently a little over 3%? What reports are saying it's double digits?

By CPI definition (year over year) - sure, 3.7% today. Here is what the CPI data looks like compared to the summer of 2020:

Gas: +73%
Home prices: + 40%
Used cars: + 32%
Electricity: +24%
Rent: +23%
Food: +20%
-----------------
Wages: +14%

Subtract out the 14% wage and there's the inflation consumers actually feel.

 

[twojman]

Not sure where that lady got it then. I looked at the month to month and using that would only show a 7.2% simple rate for CPI. I will need to try to figure out who that was and where she got her info.

Maybe the UK?

 

[SEIOWA CLONE]

Only 15% of the oil we use comes from OPEC. So I guess the shareholders only get 85% of that $0.80 increase. We all hear from the GOP is how we need to drill more, but what does that matter if the price is still based on the global market? All that extra oil capacity is just profit for oil companies and the consumer doesn’t see any relief.

The oil companies and the Republicans have convinced people that if we just drill more wells, than that will cause the price of gas to drop, and the reason that Dems are not doing it is to protect the environment. Most people want cheap gas, and could care less about unpolluted areas in Alaska, so they fall for it.

What they do not understand is that just because that oil was drilled and produced in the US, does in no way mean that it will find its way into the US market, oil like grain is a global commodity and will be sold to the highest bidder, either inside the US or outside, it's all about the dollars.

 

[Tailg8er]

12 pack of Coke at Hy-Vee is $4.99.

Inflation is out there. No need to try and make it seem worse than it is.

Regular price at Hy-Vee is $8.49, don't think he's making anything seem worse than it is.

 

[twojman]

Regular price at Hy-Vee is $8.49, don't think he's making anything seem worse than it is.

View attachment 116725

Hy vee is a high inflation driver. Check the same product at Walmart.

 

[MJ29]

Hy vee is a high inflation driver. Check the same product at Walmart.