Seems like the housing market hasn’t changed much in my area. But I’ll find out on my house in about a week to see if it increased in value. Of coarse the lumber prices don’t help when you want to build a shop.
You can still buy a decent, 3/2 modern home in good condition for under $300K here in Central Florida. But, for how much longer, who knows?
In Maine the loggers are not getting paid higher raw prices for logs at the mills. If anything prices have dropped. Makes you wonder who is controlling the flow?
The great conspiracy in my eyes is debt load the average American carries. When I was in school they preached to us that a college education was the only way for a bright future. They started telling us this when I was in grade school. Looking back I wonder if it was simply a systematic way of putting an entire generation into nearly six figure debt before than can even buy beer. Then it goes from there.. finance cars, atvs, vacations and a new bath tub.. the price is irrelevant, how much is the payment?? APR? What's that mean?
All wall street and the big business wants is more $$$$$, and they don't care if they stomp the little guy into the ground to do it. I have reserved myself that the American dream of home ownership will never happen with me. I am still living in low income housing, for the past 21 years. While I have my VA disability I know if I didn't have that I couldn't survive making under $13 an hour. And I am an asst manager. Luckily other than the normal household bills and rent. I only have one payment. My wife is making more than me, she is paying for our new Ranger. I know that I will not ever complete my bucket list. Owning another GS, and having a home. Prices on both are way out of reach. Tim
Maybe not at this moment Tim but when the bough breaks, the cradle will fall....and so will housing....and GS prices. It's coming, sit on your money, be patient.
Here in Windsor, the house I purchased for less then $200k is worth close to $500k! We have investors & private buyers from Toronto who have sold their Toronto properties for huge profits and are moving here and bidding $100k - 150k over asking. A local couple trying to buy a home just cannot afford it. In less than a decade home prices will not allow these buyers nor their offspring to buy. Where do they go to live??
I like to make an analogy comparing Racing to Financial well being. There are 2 ways to go faster down the track. Build a bigger motor with more HP, OR, lighten the car. There are 2 ways to grow your financial health, Make more money, OR, reduce your overhead. Too many people in this country refuse to live within their means. They must have the latest and greatest phone, or they must lease a new car every 2-3 years. If you live below your means, and that means sacrifice, you can save and invest your way to financial security. Of course I realize that life doesn't always go as planned, and marriage, divorce, kids, schooling, and health calamities can throw a wrench in the best laid plans.
I refuse to be that pessimistic. I still have faith in this country, and I would never root against the United States of America.
2019 - last sane year: The U.S. Treasury on Friday said that the federal deficit for fiscal 2019 was $984 billion. United States/Gross domestic product (2019) 21.43 trillion USD (2019) So, not even close and not 90%
Do you have a spouse.....do you have kids and grandkids ? Those are the ones i worry about. Most of us here on V8 are of an age that we have been able to build a secure lifestyle and don't have to worry. But my 3 kids and their spouse's and my 6 grand kids are the ones that will have to deal with all this. It is easy to not be pessimistic if everybody in your family circle is secure in employment and housing.... I would bet very few people here are rooting against America. I will admit.....my faith in this country is being severely tested right now. Peace WildBill
2008 we saw the markets go up- looks like the wheat market just jumped the shark today. Wild Bill, protect those Corn Fields as they are now worth a lot more
the reference is supposed to be Debt (not annual deficit) / GDP, which is now over 100%. But who knows what that ratio over 100% really means...Japan is around 200%. As long as the US dollar is the reserve currency of the world, it is hard to tell what the side effects will be. If we ever lose that status, watch out.
Acknowledging what you said in your prior post, people living beyond their means, and planning accordingly for potential fallout is not rooting against the US.
I have a feeling that if the other nations of the world see us wrecking the dollar, they will find other places to put their money in and to trade with.
That doesn't really answer my question. I have been into the stock market for more then 40 years. I have lost money on a stock only once. I'm not super-smart, I just look for companies that appear to have a bright future and pay a good dividend (I have always wanted to own stock in the Union Pacific Railroad, but they have not typically paid a dividend up to my standards). Over the years, my average return on investment has been about 9%. If I had reinvested all of my returns it would have been a bit over 11%.
None of the above information has anything to do with what I’m getting at. Yes money can be made on the stock market, I’ve made money there as well. I’m not saying people shouldn’t use the stock market, my point is that the whole current economic system is a farce. The people can choose a different currency, very soon there will be an option. Either remain using the current fiat currency run by the Rothchilds or use a cryptocurrency and delete the bankers. When they print money without restriction the currency gets devalued, this is what we are seeing. An imploding system, and only then people will realize they were hoodwinked.