The U.S. Federal Reserve has published the second quarter 2022 balance sheet of U.S. total household wealth [DATA HERE].
In the second quarter (April, May, June) 2022, the total U.S. household wealth dropped $6.1 trillion, despite a calculated increase in home value of $1.5 trillion. The majority of the loss is connected to a drop in Corporate Equity (stock market) and household investment in the stock market.
FED “The net worth of households and nonprofit organizations declined $6.1 trillion to $143.8 trillion in the second quarter. The value of stocks on the household balance sheet declined by $7.7 trillion, while the value of real estate increased by $1.5 trillion.” Keep in mind this is backward looking data, and after a period of decelerating rates of growth, the overall real estate market is now in a period of decline as calculated for the most recent month of July [DATA].
The equity position of homeowners is now considerably less than the equity position when the feds calculated the second quarter household wealth (two months ago). Part of the issue goes back to what we have been discussing with inflation and specifically energy driven increases in fuel and electricity.
Inflation sucks money out of the economy, making people less wealthy. Energy inflation sucks money exponentially faster out of each household, potentially making the already working-class poor, much poorer.
The higher prices paid for housing, food, fuel and energy do not contribute to anything, the increased costs are just sucked out of the consumers’ pockets without generating any additional value. It just costs more to live, and that reduces wealth. Consider this the cost of going green.
Joe Biden and his economic team are introducing phrases like “a growth recession,” to explain a dynamic where earned wages are replaced by government subsidy. You can no longer afford food, energy, housing etc, so the government steps in as the provider of subsidy based on income level to supplement the gap between wages and the new costs of products and services within the Biden created “green” economy.
However, in the bigger of big pictures, the government does not create wealth. Wealth is created outside government by private activity. Government income via taxation is lowered when the economic activity of the private sector drops.
There is currently a massive lag in recording dropped economic activity that is going to surface very soon. The rate of energy price increase has been so large, so fast, the ability of producers to transfer the cost creates an economic lag.
Total product costs (except imports) are rising faster than finished good prices to consumers. At the same time, consumer demand for goods has dropped dramatically due to the speed and rate of increased energy costs. As a combined result, the equity market will likely continue to decline as each earnings report comes in lower than prior expectation.
Now, looking at wealth over time, what happens to the economic model of Biden when current housing value ($41.2 trillion) simply drops back to 2020 levels ($33.0 trillion a conservative real estate market correction)?
Continued higher prices to consumers, less money to government, less economic activity and lower household equity. That’s trouble, big trouble.
Wave #3 of food inflation starts hitting hard next month as the increased costs at the field start to transfer through the supply chain from harvest to the fork.
WASHINGTON DC – […] The sour mood appears to stem from record food, energy and housing prices. Positive views of the grocery industry dropped 14 percentage points from last year, the biggest drop in the survey. The real estate industry dipped 9 points, the second-largest decline.
Just 22 percent of respondents reported having a positive view of the oil and gas industry, down from 28 percent last year. Twenty-nine percent reported having a positive view of electric and gas utilities, down from 36 percent last year.
Grocery prices rose a stunning 13.1 percent over the last 12 months ending in July, the largest annual increase in more than four decades, according to Labor Department data.
Housing affordability has fallen to its lowest level since the Great Recession, according to the National Association of Home Builders, with rents and home prices at record levels.
Gas prices reached an all-time high in June before falling slightly in recent months, while energy bills are also soaring amid huge demand for natural gas. (read more)
Meanwhile Biden’s economic team is bragging that Main Street is in better shape?
“The President’s first two years in office have been two of the most productive in American history, and as the Blueprint explains, these accomplishments are all part of one economic vision.” (more)
Productive to the eugenists
Pure evil
Hard to believe aint it? All self inflicted.
If only everyone read here
Not self-inflicted, WEF inflicted…
Joe Biden and his economic team are introducing phrases like “a growth recession,” to explain a dynamic where earned wages are replaced by government subsidy. You can no longer afford food, energy, housing etc, so the government steps in as the provider of subsidy based on income level to supplement the gap between wages and the new costs of products and services within the Biden created “green” economy.
Cloward and Piven, Rapid acceleration into Communism
Welfare.
As WLTL said above, I think it’s actually WORSE than welfare. It’s destruction.
Welfare has always been a destructive force.
Growth recession, an oxymoron, whereas Biden is just a moron.
Right on the money for sure. Of course, he may have to study for a while before he can reach that high plateau.
Yes, the tree IS dead, but it will make a LOVELY stump!
Biden is a stump. When asked if he will be attending the Queen’s funeral, Biden replied, “I know King Charles”. Biden is a jerk.
Thus making the masses more dependent on “Big Government”. The government’s intervention in American lives is what has produced the chaos that we see in the markets. Biden selling our Strategic Oil Reserve to China, the Green “New Deal” which is not new at all. Solar panels and windmills can never replace clean coal and natural gas-fired power plants. EVs cannot fully replace the combustion engine for reliability. The charging stations take too long if they work at all, plus the possibility of EV battery fires that can and will be disastrous. That is why I label this incongruous mess as menstruation instead of administration; it is simply a bloody mess as the Yanks would say.
FJB
F 0’bummer…
Let’s go, Brandon. Isn’t that the p[opular chant?
A “growth recession”? Is that like going forward backwards? Mr. Biden et al, it is a “growing recession.” Let’s go, Brandon.
Growth recession is that just another fancy term for depression?
Similar to leading from behind.
No it’s saying what it means. A recession that is growing faster and faster on its way to a depression.
Yeah. Much like putting your car in drive and reverse at the same time while the government tow truck pulls you from behind.
Reversing Into Tomorrow (hat tip Devo).
The dessicated husk was I. Aviators in Ohio today telling us thus us the greatest American economy in history. Everytime I think I’ve reached the limit of my nausea for Biden he finds a new way to thoroughly sicken me. I know it’s his handlers behind it all but I ll focus all my disgust on FJB for now.
The sad thing is, too many uninformed people will vote on feeling rather than facts.
Do they think lowering gas prices a dollar is a good thing? Prices will escalate fast in mid-November, like Lucy pulling the football, once again from Charlie.
Swamp them on Election Day and kill the algorithms!
Every day is an insult now. Sometimes multiple times per day. It reminds me of my last job, every time I thought things were going to get better, or at least hold steady, they got worse in the most ridiculous way. Utter stupidity and incompetence and greed wrecking everything. I can barely even watch the news any more.
CUT THE CIRD!!!
THEY ALL LIE!!
I’m on antenna, I’m talking about local news. I can’t even watch that any more.
Good for you!
Sometimes I check the weather, locally. Most of the news would come from here CTH, Revolver News, GWP.
Can get your weather ant time you want;
1) step outside, look up and scan the horizon or
2) on your phone, numerous free apps.
There is no good reason to let the broadcasters into your home, they are mind rapers.
That antenae has a CORD; Cut it, you’ll be so happy you did, trust me.
I used to have a piece of plexiglas in front of my tv, so I would’t break it, watching news, sunday political shows, etc.
About 10 years ago, I threw away the antanae, never had cable or satelite.
I know we don’t see eye to eye, but I don’t think any familiar with my comments would say I am not informed.
Letting broadcast signal into your house, and your brain, is POISON.
CUT THE ANTENAE CORD.
Yes. I have a TV with no cable nor antenna. I use it to watch streaming music, happy music (rarely). I had a 48 inch TV and downsized to a 32″ because I barely turned it on.
I read some news on the internet (GTH, TGP, Revolver, and GETTR) but even then, it gets tiring. I mostly check it to see if God’s Wrath has been slammed against these evil scum bags. I want to hear that DC is being punished with fire and brimstone.
That’s why I Check the new sites too. I’m waiting for those that are evil to finally definitely be held accountable.
I find I’m in a better mood when I don’t read the news anymore.
I know the feeling. Just started a position at our rural NC library. Despite being eminently qualified and criminally underpaid, the librarian who has ruled the roost 39 years is being a geriatric tyrant. While I for the most part enjoy the job, I doubt highly I will stay here. Don’t need the money, or the grief.
Propaganda is the replacement for news
Cognitive or not, he’d be all in for what his handlers are doing
But…but…but everything is going fantastic! It’s the greatest economy of all time!
And that’s exactly what they’ll proclaim the reason is for their election-cheating wins.
What did Biden say? “We’re changing people’s lives!” lol Yah! I’m waaaay worse off than when Trump was in office!
They never define what they mean. Thus, they can later lie with a straight face.
Biden: Build Back Better!!
Minions: Yeah!
Conservative: Huh? What are you building back FROM?
Biden: We’re changing people’s lives!
Minions: Yeah! Finally trans rights!
Conservative: Huh?
I’m sure you know, confusing the language is a hallmark of Socialists and Communists. Different groups of people read into their vague comments whichever way supports their mindset. In general, people have poor listening skills. IOW, they don’t really absorb what is being said. At least, not in a critical thinking way.
All con artists know this and use it to their advantage. Politicians are the masters though.
The “trick” is to trigger a STRONG emotional responce.
This causes the critical thinking function of the brain to go mute, and at that point you can put the most nonsensical ideas in someones brain, and they will accept it uncritically.
Its manipulation 101.
You nailed it! Pet peeve repeating myself 3x before they decide to listen.
They’re running those TV ads here during Phillies games. It’s unbelievable. Do they really think they can just Bagdad Bob their way into good feelings about the state of the economy? My husband actually swore at the television. The dollars don’t lie. If food prices go up again, I think the commercials will have the opposite of the intended effect and they’re going to have a tough time getting enough votes out of Philadelphia to cheat for a win if they don’t tone down the rhetoric a bit.
They think they can but I sususpect people are shouting FJB at the tv , if they are watching at all
Same old Baghdad Bob attack ads. Using abortion as an election Issue. To keep their sheep in the plantation. Those that are still dope
The people I know from Philly do not back down.
Philadelphia is where Joe did his red speech, Philly is lost
It’s pure gaslighting which they’ll use to explain their election-cheating wins.
When I see the price of fresh food, like meat, obscenely priced, I wave my hand at it, saying “Oh, Hell, No! Let it ROT.” loud enough for others to hear. Some people smile with pleasure. You can ask anything you want for something. Whether or not someone actually buys it is another story.
My managed 401 plan through my current employer dropped $12,000 (previously $170K) between March 30 and June 30.
I mean, at 64, with advanced cancer, I’ve got plenty of time – right?
May the Great Healer provide you with good doctors to see you to remission and restored health, Daylight.
AMEN!
Amen Bet! I join you in your prayer.
I pray you do have time.
Oh, Alaska, G-d bless you and send you His strength, protection and healing.
Financial planners tell retirees to allocate to US Treasuries a percentage of their net worth equal to their age. So if you are 70, you should allocate 70% of your investible to bonds. This is suicidal, at least for your retirement assets.
Bond portfolios are down 20% over the past year, when the S&P is down only 9%. Why would this be, when the USD has appreciated against other currencies? Because bonds are denominated in USD and the Biden Regime is doing its best to destroy the USD.
How are they doing that? My deSwifting Russian Corporations and by stealing their USD bank balances. This has convinced entities in the Global South and Global East that Americans are crooks and cannot be trusted. Since Americans are demonstrably crooks, it is best to dump US Treasuries and USD bank balances and no longer use the USD to transact e.g. oil and gas purchases.
American is indebted on the books to the tune of $30 trillion, but if you include the off-book debts (Soc Sec, Medicare, State debts) the number is more like $200 trillion. Our GDP is roughly $20 trillion. Imagine that you have a job earning $100k a year, but you had debts of $1 million. Would those debts ever get repaid? Now imagine you could print your own money. Now you see why you should NOT own US Treasuries.
You might have a look at Adam Fergusson’s “When Money Dies” to get an idea of where we are headed.
Still in tough spot with finding housing near my workplace in downeast Maine.
Hardly anything affordable to rent or buy that’s a reasonable deal.
If you get in a crunch, check RV campgrounds for a park home rental for a temporary fix. Plus the neighbors will probably tend to have your values. 😉
An decent RV with lots solar panels might be the answer. Then you’re not tied to a property and property taxes. Lots of young people are now building these from repurposed old school buses and living in them.
This jumped out at me: “net worth …of non-profit organizations declined…”
Non-profits have a net worth?
Yes, the donations that they received, along with their disbursements. Equal their net worth, plus or minus.
If less out going money than incoming money.
Means like the US Government more money is being spent than is coming in.
They have to go, all of them!
Stop opposing abortions. They have to wipe themselves out! Why would any intelligent person want evil to procreate? Let them hack off their organs, and swing from their ropes.
Life is going to be hell for the majority if we keep allowing the minority to do this sh*t!
Simple. No matter how much you value your lifestyle and want to maintain it, murder is murder and murder is sin in Gods eyes.
Ahhh, utopia. Ain’t it grand?
“Joe Biden and his economic team are introducing phrases like “a growth recession,” to explain a dynamic where earned wages are replaced by government subsidy.”- Sundance
Reminds me of obama’s leading from behind! A recession doesn’t provide growth anymore than some slacker/follower at the very back can lead?? Neither make any sense!! Total nonsense, hokum, malarkey, gibberish, bullshit – take your pick!!!
“The President’s first two years in office have been two of the most productive in American history, and as the Blueprint explains, these accomplishments are all part of one economic vision.”
The is not entirely untrue. In fact, they always tell the truth if you dig deep enough… while POTATUS seems to wear his Truth on his Tapioca-stained bib for all to see.
It’s the “economic vision” part that’s the problem… if you want to DESTROY THE REPUBLIC, then, yes, they’ve been very productive.
The gaslighting is extreme enough that if anyone lights a match… boom!
Home prices continue to rise because our greedy pigs at the taxpayer trough need those UNCONSTITUTIONAL property taxes to pay for everyone elses needs but Americans.
Yes, why exactly should we pay taxes in our own property?
“… despite home values increasing 1.5 trillion.”
And property taxes increasing correspondingly.
When the stock market collapses, and it will collapse on a magnatude equal to the ‘29 crash, then we’ll know just how productive this economy isn’t. Corporate profits are not likely to continue when the populace is squeezed on all sides by hoirrible economic policy. The over and under – will it happen before or after the midterms ? Right now all the markets are being propped up by billionaires, large hedge funds and government. The smart money will eventually realize that each of these groups are the only reason the markets don’t reflect the reality of a coming depression the likes of which most people alive today have never experienced. It won’t be pretty.
It will be a world-wide Depression… except possibly for Russia… :^p
Mexico will be OK!! God fearing nation!!
The financial experts have been predicting a slump of some sort in 2023 for about a year now. That said, ClearValueTax on Youtube is predicting a market crash after the election. It wouldn’t shock me if the crash came even sooner. I’ve been noticing that the financial media (WSJ, CNBC, etc.) is finally starting to recognize the Chinese real estate train wreck. I’m thinking it’s because they can’t avoid the fallout anymore. Also, Europe is imploding due to high energy prices. If they have a very cold Fall, Europe will collapse sooner rather than later, which would hasten things on this side of the Atlantic.
Tess………truer words have never been more on target ! A time like no other is right around the corner
Maybe Europe will enjoy a Fall and Winter chock full of “Global Warming”.
That CFO of Bed Bath and Beyond who took an 18th floor header recently sure had a ’29 ring to it.
The main difference between the ’30’s and now is institutions won’t be able to bullshyte people so easily, plus time and wars has us armed up pretty good now, far more substantially than when the NFA came into existence in ’34 to regulate certain weapons of war.
Some have argued that consumer sentiment is highly influenced by the stock market, and I think there is certainly some truth in it since I have witnessed it firsthand among many people who are retired and living off their investments. If they keep their boot firmly on the neck of the energy industry things could get pretty bleak. Amazing how bad things have already gotten in such a short time and yet so many progs still refuse to see what is as plain as can be made to them. Economic illiterates easily led by pure envy or shiny social issue objects into corners from which there is little chance of intellectual escape. I offer as evidence their propensity for mental illness of all kinds and suicidal tendencies which far outweigh those same issues among a religious and educated people.
Master of images
Songs cast a light on you
Hark through dark ties that tunnel us out of sane existence
In challenge as direct
As eyes see young stars assemble
Master of light
All pure chance
As exists, cross divided
In all encircling mode
Oh, closely guided plan
Awaken in our heart
The only time the federal government backed down from angry citizens was Bundy Ranch. Reason… WE had rifles.
April 19 2014.
https://guardianlv.com/2014/04/harry-reid-calls-bundy-ranch-supporters-domestic-terrorists/
Biden declared if you want to Make America Great Again and want economic security, we are fascist.
81 million voted for the pedo, so enjoy the utopia.
Pedohitler
Get out of Illinois now!
And California
HORROR: Woman Beheaded with Sword in Front of Onlookers in California
https://www.thegatewaypundit.com/2022/09/horror-woman-beheaded-sword-front-onlookers-california/
Every Communist regime was and is to destroy the middle class and this is happening in the USA now. The stock market collapses and peoples 401 collapses, goodbye to the middle class.
Here in Philadelphia, there is still a pretty strong middle class. However, I recently had to travel to California, where, I discovered, the middle class is dead. Every once in a while, I’d see a neighborhood that I’d think, “finally! A middle class” and then I’d see the graffiti on someone’s garage and homeless people congregating on a street corner. It was awful.
This is just the beginning of the “real price” to be paid for ALLOWING a rigged election to occur that installs a CCP corrupted DC politician.
My advice to anyone is get into a place away from a city and hunker down. Build systems for making food, water and heat. You’re gonna need it.
I loathe these people! They’d bankrupt a free lemonade stand.
A growth recession!
Ah! So that’s why a little package of 4 triple-A batteries at the hardware store was priced at $7.69 today. (I wasn’t shopping them for sure–just noticed it as I went by)
yesterday at Wally World, I was looking for just that item. They used to keep a hug display up front around or near the registers. Could not find them. Its all Halloween candy.
I assume everybody here already knows the only sure-fire way to make a million dollars in the stock market, right?
I made a million dollars in Las Vegas!! I STARTED WITH 2 MILLION!
That’s it!
On the other hand, with Real Estate, you can invest money you don’t even have, get a positive cash-flow while servicing the debt and watch your equity grow through price appreciation and paying down the principal over time. Gotta have the cash-flow, though.
Good luck to all of the young people who voted for Biden and want to buy their first homes. Not only are housing prices elevated, so are the mortgage rates.
One would have to actually own a house to have any “household net worth”.
The misses and I were ready to finally buy a home with our recent move but couldn’t afford it. Housing costs increased a ridiculous amount over the past year, and frankly I have no faith that they’ll stay at that level long term so it would be nuts to buy.
So renting again. And while we don’t exactly have to take out a loan to buy groceries like some people have to now, we’re hovering near the bubble again. And we make more than we ever did in our lives.
Something ain’t right, that’s for sure. If I made this much just 10 years ago, I’d be rolling in bills like Scrooge McDuck.
Actually the term “household net worth” just means, basically, the sum of all of your assets. An actual house isn’t required.
I feel for you needing to rent instead of buy. For a short while in my career I lived in a very expensive part of the country and I never did buy anything, I was stuck renting and then eventually moved elsewhere. And now it’s the double whammy of high home prices and high mortgage rates. The Dems want the middle class to implode and they want the lower class to be forever dependent on handouts. Reason #5 to vote all-GOP.
I understand the meaning of the term. It’s just that, unless you own property your networth isn’t going to be much. And frankly a normal guy like me is usually bouncing between debt and a few thousands bucks in the black. That’s reality for most of us regular old middle class working stiffs. No matter how diligent you are about not wasting money, something comes up several times a year that you can’t fight and takes whatever nestegg you were working on away.
I think (but I’m not sure) the number includes retirement funds. Other than their homes, most people’s positive net worth comes from their 401k’s.
Oh my gosh, is this going to lead to another housing crisis?
https://www.bankrate.com/mortgages/bank-of-america-zero-down-mortgage-minority-neighborhoods/
Bank of America’s new Community Affordable Loan Solution requires no down payment requirement, no closing costs, no minimum credit score and no mortgage insurance. The program for now is limited to first-time buyers in African-American or Black and Hispanic-Latino neighborhoods in Charlotte, Dallas, Detroit, Los Angeles and Miami. A key distinction: In addition to the first-time buyer requirement, the bank will determine eligibility for the program by the borrower’s location and income, not race.
It seems like a horrible idea to ignore credit scores and not require mortgage insurance or a down payment. What evidence does the lender have that the people taking these loans will make their payments. Does this not remind everyone of the subprime lending that led to the 2008 disaster? And I want to know how Bank of America is paying for this. Did they get a grant from the government? Are we taxpayers subsidizing this mess?
It seems like racism
They did this before, in run up to 2009 meltdown, same shite, different decade, same result.
Biden’s Pentagon Makes Shameful Suggestion to Troops Struggling to Feed Their Families
The U.S. army is recommending soldiers apply for SNAP benefits, also known as food stamps, to help cover their rising costs from inflation.
The U.S. Army cites the higher prices on a range of goods because of inflation in its recently released official guidance.
“With inflation affecting everything from gas prices to groceries to rent, some Soldiers and their families are finding it harder to get by on the budgets they’ve set and used before,” the guidance written by Sgt. Maj. of the Army Michael A. Grinston reads.
“Soldiers of all ranks can seek guidance, assistance, and advice through the Army’s Financial Readiness Program.”
The guidance points soldiers to the Supplemental Nutrition Assistance Program and links them to the federal welfare program’s website.
https://www.thegatewaypundit.com/2022/09/bidens-pentagon-makes-shameful-suggestion-troops-struggling-feed-families/
I’m retired USAF, and as proud as I am of my career, I must say military basic pay is equivalent to a part time job. It’s pathetic.
There is housing on base, but it’s limited and waiting lists are long. And rations are only for the service member, not the family.
There is retirement after 20yrs, but we still have to pay income and social security taxes on it.
The government have never taken proper care of those who protect and die for their freedoms.
But of course forgiving student loans is MUCH more important than feeding our soldiers. Disgusting.
Regarding food prices: my company transports potatoes from Idaho to the Midwest. These go into a manufacturing line. We have nothing to haul because our customer lost the bid this year. Why? The grower raised the price 65% over last year. It’s unreal.
So where are they going?
About five years ago, I started buying potatoes from the store and planting them after exposing them to sunlight.
I have been enjoying a 7x return since then. The only ponzi scheme that works.
Winter wheat will be going in soon. This year it’s red.
Actually I cheat on the potatoes using ground up leaves from our trees.
Fortunately my wife of 32 years and five children is progressively thinking, I’m not crazy.
Speaking of which tomorrow we are going to pickle everything we can’t eat.
We are pickling cucumbers, peppers, garlic, plus spices in a boiling water canner.
All the above connects me with me with my ancestors.
They all did all the above and didn’t think it was unusual.
Spaul,
Not to stray from the article discussion, but just a reply and a suggestion for you & perhaps others who don’t use a pressure canner. ( <you did not mention that you did any pressure canning in your reply above, so I am trying to give you some options that might help in coming times.)
If ya have a pressure canner, canning potatoes is good too.
Since you sound like you have quite a bit of them, it could be a useful method to store them other than the other methods for potato storage.
Since they are already cooked from the canning process, you can eat the cold if necessary & if you don’t have a way to heat them available for some reason.
No need to “pickle” anything, just can them properly & you can add spices or salt before or after you can them.
Along with potatoes, there are other things you can can using a pressure canner that you can’t use a water bath canner for as well.
An example for that would be that we can beef, pork, chicken, fish & wild game as well.
All cooked & ready to eat cold if the need arises, or heat them up & use as ya would like them.
Anyway, Just a suggestion.
🙂
GOD bless ya’ll, & G’luck in the times ahead if they get worse.
P.S. – If ya don’t have one already , the Ball canning book, for example, would be a good asset to have if ya don’t have one or one like that already. Many excellent recipes for both water bath & pressure canning, as well as correct procedures & other tips.
They (Joe Stalin Regime) are shipping USA potatoes to Ukraine, my friend sent me photos of hundreds of pallets of them. So we are competing for our own food supply now.
I noticed noises about a railway strike this week too. That oughta be epic if it comes to pass. Perfect timing with harvests in full swing right now.
My friend said a huge railway strike by Biden’s crew / unions is fixing to go through in the next 2 weeks, costing upwards of 2 Billion per day in lost revenue/ transport.
So keep your eye fixed on energy.
It’s the master resource. A resource that defines all other forms of value.
Fortunately, the Earth has enough nuclear energy equal to 30x its size vs oil.
Even the nuclear waste we have accumulated would provided energy for 2000 years, globally.
We live upon a nearly unlimited ball of energy if we tap its nuclear potential.
Spread the word.
I was pretty shocked this afternoon. I live in an affluent suburb. There is central hub with civic buildings, library, police and fire. Also a post office, banks, offices and a nice shopping center (not a mall) where there is and always has been a large supermarket. Today the windows are covered with brown paper and signs “store permanently closing”. No prior notice. The parking lot was always busy.
Seriously, why?
Drives me nuts when people write an intriguing comment and leave out WHERE.
A national chain or local family chain.??Just Asking
Direct experience highlights a strange twist on a portion of this information. The student/young roommates market is distorted beyond comprehension. The young adult group of tenants, the age that used to group up and seek housing to share expenses (and fun/growing/silliness) is so unsocial that they are paralyzed at the thought of living with 2 or 3 others of their age. A decade ago the norm was still that a fair percentage of this age group routinely sought to pack anywhere from 4 to 14 into a house to drive their cost per head down as far as possible.
Now that age group is reluctant to share housing with even one other person. As noted above, they are UN-social. They aren’t anti-social, they simply lack social experience consistent with their age. In-person interaction is mysterious to them. They struggle to conceive of living with others, and seem genuinely mystified as to how to find roommates. The connection of the internet that allows them to reach any person in any place on the planet has left them unable to reach out to a potential roommate anywhere, even next door.
The impact on housing is hugely distorted. Housing that has served that market for generations is now sitting idle for lack of groups. (Families that need 6 bedroom houses can seldom pay the rents needed to support the debt load, taxes, etc.) Meanwhile that demographic of young adults, those not still in the parental home during and after college, are driving up rents and driving down availability of smaller rental units. The imbalance is severe, to the point that the rents on a small rental (1 BR) is often 50-60% or more the cost of a 4 or 5 bedroom house (with yard, etc.). Two young adults can easily save money moving from their two small rental units to a single house but even that terrifies them.
The ‘shortage of housing and high rents’ perception doesn’t accurately reflect this aspect.
The bottom-line, Americans are going to suffer a lot of unnecessary economic pain if we don’t get Trump back in there. This whole thing is to total mess and criminal. People need to go to jail over this and the sooner the better.
Waiting for– if everyone would just buy a Tesla it would flatten the curve, and the world would be sparkles and unicorns.
Roughly 80% of the US population is 30-50% poorer since Joe Stalin stole the WH due to his inflation, taxes, etc….. and all that is even before they possibly lose their homes, cars , etc.
They printed $9 trillion, so expect another coming $3 trillion drop. And regardless of what Biden says, that is all tax.
Everyone has a 401K in the family. But half of America is in a cult to bankrupt themselves. I don’t blame Biden. He told them his plan. I blame the voters who is amazed at what is happening.
What the govt is telling you:
What you own is overvalued as people who do not own have difficulty paying for necessary items ie food, shelter, clothing, power needs.
Because the latter outnumber the former and we don’t want them protesting or rioting, the govt will devalue what you own by raising the costs to borrow.
However, the government will not address the real cause for the need of this action which is they should have raised rates a long time ago.
When rates are lower than inflation for a prolonged period, the rebound is going to hurt.
I refuse to believe we voted for this. The election was stolen and the fake potus was chosen because he is stupid enough to blame this on him.
Summary: Stocks are rocks. Drop ’em !
Let’s go brandon!
Time for more of them ‘stimulants checks’ … so we’ll all be — stimulated …
So our dear leaders are simultaneously shrinking the economy as much as they can …and increasing what they take out of it with ever-bigger cronyist spending bills.
What can’t go on, won’t.