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re: For folks that are old enough to remember the high inflation of 70s-80s
Posted on 6/19/22 at 8:40 pm to saintforlife1
Posted on 6/19/22 at 8:40 pm to saintforlife1
This is a supply chain and labor shortage inflation which isn't like the 70s and a supply chain inflation like we are having hasn't happened in forever. So you cant compare the 2. Gasoline, energy, food will come back down. I believes cars and electronics will come back down once world wide chip production gets back up. The labor shortage in The US perplexes me but 2 million boomers did retire early so that's a chunk of it.
This post was edited on 6/19/22 at 8:53 pm
1
Posted on 6/19/22 at 8:50 pm to saintforlife1
You will see it fall somewhere in between is basically what will happen. More competition more supplies to build make or produce products will make for competitive pricing. Problem is companies now know what people will pay so it will never go back to pre-inflation anywhere for anything.
Posted on 6/19/22 at 8:53 pm to Cosmo
Damn Cosmo, that’s deep, man.
Posted on 6/19/22 at 8:55 pm to saintforlife1
I remember CD's being "the bomb" and all the "old people" bragging about their CD's like they were a status symbol. Also if you are in debt and a gainfully employed baw your old debt will be less of a burden over time. Wages will rise but those notes will stay the same if your banker didn't con you into a balloon note. (Seems like those were things too, back in the day.) Just don't let Bawette talk you into financing a new pair of truck nuts at the higher prices & rates. If you can buy them now, while the interest is low, the payment will seem minimal in a couple of years when the plant gives you a cost of living raise.
If I remember right gas was 79 cents a gallon and went way over a dollar but never got down below a dollar again. Plan for songs like "Are the good times really over" to hit the market and the next President to pardon the musician that sings it
If I remember right gas was 79 cents a gallon and went way over a dollar but never got down below a dollar again. Plan for songs like "Are the good times really over" to hit the market and the next President to pardon the musician that sings it
Posted on 6/19/22 at 8:55 pm to EarlyCuyler3
I can't imagine buying a home right now and paying 10's of K's over asking. The whole market is just fricked.
Posted on 6/19/22 at 9:11 pm to saintforlife1
Prices will drop after China takes over America and achieves its goal. I give it 5 years.
Posted on 6/19/22 at 9:15 pm to BabyTac
I was a kid but I remember getting out of school a couple of hours early in the later 1970s because the school needed to save money.
I also remember getting just flannel shirts and socks for Christmas one year in the early 80s. My parents didn't have money for presents because my dad had gone out on his own with a consultancy business at the worst possible time.
I also remember getting just flannel shirts and socks for Christmas one year in the early 80s. My parents didn't have money for presents because my dad had gone out on his own with a consultancy business at the worst possible time.
Posted on 6/19/22 at 9:36 pm to TutHillTiger
quote:
interest rates hitting 29%
When was this?
Posted on 6/19/22 at 9:40 pm to Zappas Stache
quote:
The labor shortage in The US perplexes me but 2 million boomers did retire early so that's a chunk of it
I’m no boomer but an older Gen Xer. I retired at 54 two year's ago. My portfolio has taken a hit, but it will have to go much lower for me to reenter the workplace again.
This post was edited on 6/19/22 at 9:42 pm
Posted on 6/19/22 at 9:48 pm to EarlyCuyler3
quote:
But what happens when the market implodes and then you're underwater?
Same thing as the 80s, you are stuck if you need to sell, those that absolutely have to sell, and had a healthy down payment will sell at a loss. Prices decline, interest rates fall a little, people start buying houses again, and a new cycle starts, nothing that hasn’t happened before.
Posted on 6/19/22 at 9:52 pm to EarlyCuyler3
quote:Real Estate has long been a great hedge against inflation. Low interest rates just spurred activity
I can't imagine buying a home right now and paying 10's of K's over asking. The whole market is just fricked.
Posted on 6/19/22 at 9:55 pm to Wally Sparks
quote:
interest rates hitting 29%
When was this?
The highest 30 year mortgage rate in history was 18.45% in 1981.
Posted on 6/19/22 at 9:56 pm to EA6B
quote:
Same thing as the 80s, you are stuck if you need to sell, those that absolutely have to sell, and had a healthy down payment will sell at a loss. Prices decline, interest rates fall a little, people start buying houses again, and a new cycle starts, nothing that hasn’t happened before.
You're just screwed either way. Either by higher interest rates or inflated prices. My area (Huntsville) is just out of this world. And it isn't going to slow down most likely.
Posted on 6/19/22 at 10:25 pm to saintforlife1
Inflation first jumped in about 1967 and did not get back down below 3% until about 1995. Was between 6% and 12% from about 1975 to 1984.
I don't see this ending in a couple months.
I don't see this ending in a couple months.
Posted on 6/19/22 at 10:38 pm to Delta9
First house we built/bought was in 1985 and we took a chance on going with an ARM to get 8% financing versus 13% for a fixed loan. Thankfully the rates didn't go up much and couple years later we refinanced for (IIRC) somewhere around 6% and locked it in.
Hell of a time in the home loan market back then.
Hell of a time in the home loan market back then.
Posted on 6/19/22 at 10:40 pm to ForLSU56
quote:
First house we built/bought was in 1985 and we took a chance on going with an ARM to get 8% financing versus 13% for a fixed loan. Thankfully the rates didn't go up much and couple years later we refinanced for (IIRC) somewhere around 6% and locked it in.
So you paid the same interest rates people are paying now pretty much
Posted on 6/19/22 at 10:41 pm to Mingo Was His NameO
quote:
So you paid the same interest rates people are paying now pretty much
Same house is probably 10x the price now.
Posted on 6/19/22 at 10:43 pm to The Third Leg
quote:
Same house is probably 10x the price now.
Well it was nearly 30 years ago, so I would hope so
Posted on 6/19/22 at 10:44 pm to EA6B
It seems like 29% doesn’t matter it shut damn near everything down. Even government projects planned for years were put on hold
Posted on 6/19/22 at 10:45 pm to The Third Leg
quote:
Same house is probably 10x the price now.
Maybe not quite that much but you ain't far off. That chart was done in 2019, so it's gotten worse since then as well.
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