Author Topic: Super inflation  (Read 689 times)

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Offline magooch

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Super inflation
« on: May 27, 2021, 09:34:34 AM »
I'm curious if home prices are inflating in other places around the country like they are here in SW Washington state.  It seems that the prices have just gone nuts in the last few months.  The house next door just sold for $379,500 and that was ten thousand more than the asking price.  It scares the heck out of me, because our house is twice the size and and more than twice the value.  That should be a good thing, but not if you have to pay the property taxes.

Our property taxes last year amounted to almost four times per month what our monthly payments were for the house when we bought it 55 years ago.  And that included taxes and insurance.  We are literally about to be taxed out of our house.  That's right, this state is run by the Dummycrats.  Their plan is working great, but who is going to be able to afford to buy these homes--let alone pay the taxes?

Swingem

Offline Doublebass73

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Re: Super inflation
« Reply #1 on: May 27, 2021, 11:02:44 AM »
It's insane everywhere right now. I live in a rural area in NH and my next door neighbor just sold his house for 400K. House is around 2500 sq ft on 1.5 to 2 acres.
"Necessity is the plea for every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves."

---- William Pitt (the Younger), Speech in the House of Commons, November 18, 1783

Online DDZ

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Re: Super inflation
« Reply #2 on: May 27, 2021, 11:32:15 AM »
I don't think the home prices are being driven by inflation, but by just high demand for homes. I have a relative who works in real estate, and she said its nuts. Houses are being bought as soon as they go on the market. People are paying asking price, and even some have a bidding war where the owner is getting a higher price than they asked for.  Not sure why so many people are buying these homes at such high prices. Maybe it is people moving out of cities that they helped ruin, by their voting practices, and they are willing to pay anything to get out. 
Those people who will not be governed by God will be ruled by tyrants.    Wm. Penn

Offline Lloyd Smale

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Re: Super inflation
« Reply #3 on: May 27, 2021, 10:01:18 PM »
Im building a house. Bought  a load of lumber 3 months ago. Have to go monday to buy more and the price of it has near doubled. Sure sucks. Thought i had enough saved for this but will end up having to take a small loan out to buy the rest. Yup the place will be worth more because of this but im not planning to sell and no doubt what will happen is ill get it done and the prices will drop again i a couple years. Add to that id doesnt help the average guy because his house is worth more. Sell it and you still need a house and will pay more for the new one. I kick myself in the ass for not doing this last year. that was the original plan but i was short a bit of money and figured if I waited one more year id have it. It probably would have saved me 20k to do it last year. Sucks but it is what it is and theres no predicting the future. I had figured on trading in my boat next near on a new one but it just means thats on the back burner. Could be worse. Ive got food in the freezer and dont have to worry my bills arent getting paid like some. People have MUCH bigger problems then not being able to trade a boat in!!
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Offline Land_Owner

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Re: Super inflation
« Reply #4 on: May 28, 2021, 01:45:26 AM »
Has been my mantra since I don't remember when that I would one day awaken to the reality in which I can no longer afford my home due to inflation and municipal taxes imposed. 

I have been and will continue to be a strong opponent of ANY tax increase by municipalities following THEIR knee-jerk Covid response in shutting down the economy, putting people out of work, with the corresponding dramatic loss in tax revenue.  SELF-IMPOSED.  Should these same knee-jerk politicians now attempt to raise taxes to make up for those self-imposed losses, I will raise my voice LOUDER than before to shout them back under the rocks from which they emerged. 

Government needs to roll up its sleeve, take a shot in its arm, forget hiring, forget raises, forget new construction initiatives, forget fee increases, forget raising taxes, and allow We The People a chance to get back on our feet, getting the economy rolling again, BEFORE considering a tax increase...though I suspect this end of year the Tax Man will come with renewed vigor as PROPERTY TAXES will most likely SOAR.

Also, Biden and the Dems continue to spend future revenues from the Federal coffers like drunken sailors giving OUR TAX DOLLARS to 3rd World countries, illegal immigrants, and gimmedats who do NOTHING for strengthening the American economy.

Offline Dee

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Re: Super inflation
« Reply #5 on: May 28, 2021, 02:49:51 AM »
I sold my home in the high tax area north of Dallas. It sold within 48 hours of going on the market..
I've moved to Northwest Texas. Less than 20 thousand folks in the whole county.
I homesteaded my new place, plus I'm over 65. The taxes on it are under $1,000.00 a year, and no it ain't a shack.
The move was hard at our age, but worth it.
You may all go to hell, I will go to Texas. Davy Crockett

Offline ironglows

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Re: Super inflation
« Reply #6 on: May 28, 2021, 03:05:37 AM »
  .
  That is true all over the country.  My son is a professional photographer, and a good share of his work is real estate, mostly high end stuff.  He operates in other regions of the country too, does the entire tour thing, plus drone photos.
  I get to see the prices across the country that way.  They seem to have come up in many cases, 300 t0 400 percent over the last few years.
  One big contributor is the current low interest rates.  Often he will produce a video/stills/flight for a home, say for $500,000..  There will be 5-6 buyers bidding against each other.  Bidding will get so intense, that the home may go for $540,000.

  Crazy?  Sure, but there is a lot of that going on.  Who would have thought that a $10 bit coin would soon be worth $10,000?
"They have the guns and therefore we are for peace and for reformation through the ballot. When we have the guns, then it will be through the bullet"      (Saul Alinsky) ...hero of the left..

Offline Buckskin

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Re: Super inflation
« Reply #7 on: May 28, 2021, 03:34:44 AM »
$10k Bitcoin??? Where do I buy???  I will put everything I have into bitcoin at that price!
It's at 36k now and had a high over 60k a month ago.

This bubble will pop at sometime, always does or we will se hyper inflation which obviously is worse...  A lot of people around here are selling their house and moving to apartments/condos, betting that it will pop sooner or than later and be able to upgrade.  That is insane to me, but I'm where I want to be also...  When all of you baby boomers start kicking off there should be a glut of housing available. :P
Buckskin

"I have tried to live my life so that my family would love me and my friends respect me. The others can do whatever the hell they please.   --John Wayne

Offline Land_Owner

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Re: Super inflation
« Reply #8 on: May 28, 2021, 04:13:37 AM »
When all of you baby boomers start kicking off there should be a glut of housing available. :P
The goobermint is going to give it all to the illegals, the gimmedats, and the Mob Mentality, then where will we be?

Offline Dee

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Re: Super inflation
« Reply #9 on: May 28, 2021, 04:37:03 AM »
When all of you baby boomers start kicking off there should be a glut of housing available. :P
The goobermint is going to give it all to the illegals, the gimmedats, and the Mob Mentality, then where will we be?

That's dang good question.
You may all go to hell, I will go to Texas. Davy Crockett

Offline Lloyd Smale

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Re: Super inflation
« Reply #10 on: May 28, 2021, 06:10:17 AM »
well i jusf came from the bank. Good thing is interest rates are low. Bad thing is i have to pay interest!! Ive got it nice in MI. 100 percent disabled vets dont have to pay property tax on there main residence so if those go up it wont effect me.
blue lives matter

Offline ironglows

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Re: Super inflation
« Reply #11 on: May 28, 2021, 11:01:17 AM »
well i jusf came from the bank. Good thing is interest rates are low. Bad thing is i have to pay interest!! Ive got it nice in MI. 100 percent disabled vets dont have to pay property tax on there main residence so if those go up it wont effect me.

  ...Unless the Democ-rats gain full power, join your goobener, and give the vet's break to "struggling illegals".. Oops! I should say "undocumented property owners".. ;) ;D
"They have the guns and therefore we are for peace and for reformation through the ballot. When we have the guns, then it will be through the bullet"      (Saul Alinsky) ...hero of the left..

Offline Land_Owner

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Re: Super inflation
« Reply #12 on: May 28, 2021, 10:54:05 PM »
lloyd, while you are owed a debt of gratitude for your 100% military "won" disability, we would not trade places for the tax break.

Offline neckisred

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Re: Super inflation
« Reply #13 on: May 29, 2021, 01:04:58 AM »
well i jusf came from the bank. Good thing is interest rates are low. Bad thing is i have to pay interest!! Ive got it nice in MI. 100 percent disabled vets dont have to pay property tax on there main residence so if those go up it wont effect me.

I'm sure in another month the ground up there in Michigan will be defrosted enough so you can dig up a jar and pay it off  ;D ;D ;D ;D

Offline ironglows

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Re: Super inflation
« Reply #14 on: May 29, 2021, 09:26:18 AM »
.
  I stopped by my son's office this morning, while he was editing some real estate photos and videos and Drone videos.  He showed me two houses he did about a week ago.
 
   One listed for $350,000 the other for $320,000..  The one for $350,000 has already sold for $450,000 and the one listed for $320,000 is already at $420,000 and still open to go higher.

  ...All competitive bidding....crazy days!
"They have the guns and therefore we are for peace and for reformation through the ballot. When we have the guns, then it will be through the bullet"      (Saul Alinsky) ...hero of the left..

Offline Lloyd Smale

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Re: Super inflation
« Reply #15 on: May 29, 2021, 10:43:56 AM »
ya id gladly swap the tax money to loose the daily pain
lloyd, while you are owed a debt of gratitude for your 100% military "won" disability, we would not trade places for the tax break.
blue lives matter

Offline Goldie

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Re: Super inflation
« Reply #16 on: May 29, 2021, 02:39:11 PM »
ya id gladly swap the tax money to loose the daily pain
lloyd, while you are owed a debt of gratitude for your 100% military "won" disability, we would not trade places for the tax break.
21 years in uncle Sam's Army. Never figured out how so many got disabilities from the government. Question how do you get a disability when you went on to become a Electrical line worker and retired from it?

Offline Dee

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Re: Super inflation
« Reply #17 on: May 29, 2021, 03:59:19 PM »
Thank you for your  service Goldie. I did 21 years in Narcotics CID, SWAT, and Tactical K9.
My oldest boy gets about $120.00 a month for a bad knee he got jumping outta planes at Ft Benning.
My youngest was a Staff Sgt in the 82nd Airborne. On his 2nd combat tour in Iraq, (also did 13 months in Afghanistan) he got blown off a catwalk by an RPG and landed on his right hip.
It gives him trouble, but he doesn't draw anything for it, and refuses to go to the VA, because all they wanna talk to him about is PTSD. He says there are combat soldiers far worse off than himself, that need the benefits.

I do however have a 1st cousin (Marines Vietnam combat veteran) that draws a full disability. He rode three helicopters, into 3 separate firebases, that because they were shot up pretty bad, landed harder than they were supposed to. Constant pain, and hasn't been able to work for years, but a great guy.
You may all go to hell, I will go to Texas. Davy Crockett

Offline Freezer

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Re: Super inflation
« Reply #18 on: May 30, 2021, 01:00:07 AM »
This real-estate inflation scares me and brings back memories of 2007. In the early 2000s we saw the same phenomena. The prices get so high that banks issue risky loans and insure themselves with "Primary Mortgage Insurance". The the bubble bursts, the insurance companies and banks fail, the government bails them out, "Too big to fail". The consumer is left holding the bag.  I lost 50% of my retirement and my home last time. It took me ten years to get back where I started.

The thought of a $15 minimum wage over a short period of time is also hyper inflationary. My wife is a Master Teacher working as a sub in an area that is saturated with teachers. Arby's has a starting wage of 12/hour. She doesn't make that much and is laid off without pay for the summer.

I had to quit retirement and go back to work because of the teacher's job market here and Obama's "Affordable Health Care". I have fair medical coverage now but the pay isn't good. To think some kid, worse yet illegals, is making 80% of my salary for flipping burgers angers and scares me. The cost must be passed on by business. Costs go up and in the same percentage purchase taxes go up .What god does it do to increase your income by 50% when the cost of living goes up by 70%. Then there's higher taxes because of Covid and government give-aways. I'd have more take home pay if they laid me off! Tax the rich and there will be less money available money for investment. Give a poor man a buck and he'll spend it, give  rich man a buck and he'll invest it.

 I'm afraid we're heading for hyper inflation. I'm changing all my investments soon before fit hits the shan.

Offline Land_Owner

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Re: Super inflation
« Reply #19 on: May 30, 2021, 08:39:33 AM »
Divesting to what?  Or is that a closely guarded secret?