2022 Financial Crisis: Inflation surging, Stock Market crumbling

Discussion in 'BS Forum' started by SOXXX2, May 10, 2022.

  1. MoWilkBeast

    MoWilkBeast Well-Known Member

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    It's a pageant and tradition. Nothing more. The Disney equivalent of the State of the Union address. They decide fuck all and have to say what they are told to. Not that I wouldn't happily line every one of them up against a wall with blindfolds on given a chance.
     
  2. Dierking

    Dierking Well-Known Member

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    "They all know they're in chains, you only think that you are free . . . ."
     
  3. Dierking

    Dierking Well-Known Member

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    Good post. But you can believe in all that and still be disgusted by the amount of waste, pork and overall useless spending your taxes make possible.

    But I still do want my own navy.
     
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  4. Jonathan_Vilma

    Jonathan_Vilma Well-Known Member

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    Our government does not spend wisely whatsoever even if a chunks of the spending is done wisely.

    Good example below.

    https://www.nbcnews.com/politics/ju...oting-covid-relief-program-known-ppp-n1279664

    Yes, well said. This is where I was going.
     
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  5. FJF

    FJF 2018 MVP Joe Namath Award Winner

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    This isn’t about having to pay taxes, that’s inevitable, it’s the new amount people will be forced to pay for to an artificially inflated housing market. Across the board in my town the tax appraiser raised house values 30% , couple that with the 45% increase in electricity,50% increase in groceries ,100% increase in heating oil, and gas there are about to be a whole lot of houses available by people that can longer pay the property taxes. The housing market is going to collapse soon.
     
  6. BrowningNagle

    BrowningNagle Well-Known Member

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    It’s always the ‘tards living off the government that complain about government spending
     
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  7. BrowningNagle

    BrowningNagle Well-Known Member

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    If everything else is increasing in price then how is it artificial when housing does? Isn’t it just matching the market
     
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  8. BrowningNagle

    BrowningNagle Well-Known Member

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    the crypto-nerds are taking a beating right now. I guess its not really surprising that the fake money is losing its value but I do kinda feel bad for them
     
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  9. barfolomew

    barfolomew Well-Known Member

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    Don't feel bad. Crypto and NFTs are the male version of astrology.
     
  10. stinkyB

    stinkyB 2009 Best Avatar Award Winner

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    Because alot arent being purchased by families / individuals looking for "housing" per say, but investment companies looking to turn them into vacation rentals (which should fall under commercial)..... They'll over pay because $150/night covers inflated mortgage expenses
     
  11. Dierking

    Dierking Well-Known Member

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    I want to meet the guy paying a Buck fifty a night to stay in Rochester.
     
  12. BrowningNagle

    BrowningNagle Well-Known Member

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    Ah, yeah I can see that happening in Florida.
     
  13. The Waterboy

    The Waterboy Well-Known Member

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    2 Investment firms just bought an entire housing development in Palm Bay for $45 million to use as vacation rentals. Over $500K per home for an area with an average household income of about $50K
     
  14. stinkyB

    stinkyB 2009 Best Avatar Award Winner

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    Within the past year 3 houses within a block of mine sold to become short term rentals.... dude around the block just sold his 1200 sq ft house for 535. Which is more than double than it wouldve been 3 years ago. He said "F-it" I'm cashing out, and moving off the island and will probably be mortgage free with some cash in his pocket.

    Overall it sucks. For the most part it was affordable family neighborhood for regular working class people....
     
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  15. stinkyB

    stinkyB 2009 Best Avatar Award Winner

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    Yep, same here. You'd think the hotel companies would have more lobbyist muscle.... unless theyre in on the purchases.
     
  16. The Waterboy

    The Waterboy Well-Known Member

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    Hotel companies are probably all for rentals only by the coast, more competition but their rates will probably look like a bargain next to what the vacation homes rent for. Making it a pure vacation destination the restaurants also get to raise prices, local gov. gets more from tourist tax, etc. so can see why there is not as much push back on that side. They'll just push the locals inland with the cows.

    I was looking to move a little closer to my grand baby but even selling my condo, which has doubled in value the last 18 months, I could only get a 30 year old mobile home over near her. And then still need to pay $800-$1000 a month lot rent.
     
  17. Dierking

    Dierking Well-Known Member

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    See now, this is where blue state exclusionary zoning would work in your favor.
     
  18. Amaru

    Amaru Active Member

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    Yeah, I'm bursting with schadenfreude these days. Feeling a little bit of pain in my portfolio, mainly because I started buying the tech dip too early this year, but it's totally worth it to see all the previous high flying hedge funds that rode the tech wave (e.g. Tiger Global) get destroyed.
     
  19. typeOnegative13NY

    typeOnegative13NY Well-Known Member

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    And as I think I read correctly, a lot of people recently did not get fixed interest rates?
     
  20. Br4d

    Br4d 2018 Weeb Ewbank Award

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    The house appraisals rose because people are speculating on your homes as an investment. It's the same thing that happened on Long Island in the 50's, 60's and 70's. The locals lived in a nice, relatively cheap area where most of them also worked, often off of the land or the water.

    Then real estate speculators came in and began buying properties and upgrading them and tax valuations rose across the board. This often drove people off of their land by extension as the rise in *local* taxes forced them to sell for the best offer they could find. This assuming they were owners and not renters. Renters were forced out of their homes as the owners were forced to sell.

    The answer is to have *government* regulate the characteristics of the investment market in real estate. A basic right to a roof over your head should be absolute. This should be a local government program with money flowing down from the state and the feds. That's what works best in terms of social intervention because it takes what is appropriate for a local market and funds it with collective funds at three different levels. It ensures that there are three sets of eyes on every transaction which in turn makes the odds of corruption much lower because local, state and federal officials all have different standards and it is easier to get a light on the process when standards are being eroded at any given level.
     

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