ShootsManyBullets
Well-known member
A few thoughts on this:
It's not the value of the homes going up so much as the value of the money going down. The stimulus, QE, etc. went in large part to the elites and bankers who have pumped the money into the economy, now making money off their free money.
Some of these appraisal issues are cured by cash buyers that come in and push the comparable sales higher, making the next house appraise thanks to the new higher closed sales.
Materials and labor are ridiculous right now with the supply chain issues, further inflating building costs. The price gouging contractors will be the first ones begging for work when the market changes.
The Fed raises rates, the cost of gov't debt goes up and this thing all falls apart. So do they want to bankrupt the gov't or stick us working class stiffs with inflation? Inflation is a perfect tax scheme on the lower and middle class because no politician can get blamed for voting for it and they can pretend they're not the problem. Clean up the supply chain and production could go up, stabilizing prices. You feed people money for doing nothing and pimp UBI, all you do is have more money chasing fewer goods as less people are producing goods and services.
Who benefits from the printing press and QE? The elite who get to have their paper assets pumped up with stimulus and stock buybacks with free money then turn around and neglect investment in their companies so they don't produce more or produce more efficiently. Then the politicians scream "tax the rich" while the rich just turn around and pass that cost onto the consumer. Meanwhile others chase poor investments looking for yield since the cost of money is lower than the underlying risk.
Crony capitalism, socialism, marxism, facism, and communism will all fail at some point
It's not the value of the homes going up so much as the value of the money going down. The stimulus, QE, etc. went in large part to the elites and bankers who have pumped the money into the economy, now making money off their free money.
Some of these appraisal issues are cured by cash buyers that come in and push the comparable sales higher, making the next house appraise thanks to the new higher closed sales.
Materials and labor are ridiculous right now with the supply chain issues, further inflating building costs. The price gouging contractors will be the first ones begging for work when the market changes.
The Fed raises rates, the cost of gov't debt goes up and this thing all falls apart. So do they want to bankrupt the gov't or stick us working class stiffs with inflation? Inflation is a perfect tax scheme on the lower and middle class because no politician can get blamed for voting for it and they can pretend they're not the problem. Clean up the supply chain and production could go up, stabilizing prices. You feed people money for doing nothing and pimp UBI, all you do is have more money chasing fewer goods as less people are producing goods and services.
Who benefits from the printing press and QE? The elite who get to have their paper assets pumped up with stimulus and stock buybacks with free money then turn around and neglect investment in their companies so they don't produce more or produce more efficiently. Then the politicians scream "tax the rich" while the rich just turn around and pass that cost onto the consumer. Meanwhile others chase poor investments looking for yield since the cost of money is lower than the underlying risk.
Crony capitalism, socialism, marxism, facism, and communism will all fail at some point
