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How hard is inflation going to hit, or has hit?

Provience said:
The one job thing is absolutely not going to cut it. It didn't 20 years ago either
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20yr ago 1 job was perfectly fine as long as you didn't make minimum and made some effort to reduce the rest of your spending to prioritize saving for the down-payment.

45acp said:
It's still possible with hard work and smart spending, but it's NOTHING like it was when I was 25.
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Exactly. And in some markets it's just not possible without dual incomes and/or incomes above a certain threshold. You could not have a house where I live.

[486] said:
I don't see it, I see the dollar continuing to drop until real estate is "reasonable" again
"oh hun that half acre in detroit is only 1.2 million, hey can I borrow $200, I want a pack of smokes and a coke"
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I don't see it being that bad. I think that there will be some nominal reduction but you're definitely right that the bulk of the correction is mostly gonna be at the expense of the dollar.
 
45acp said:
Yea, again you're looking at 2023 as a retired-ish boomer... not a 20something gen zennial trying to get started in life and get out of the apartment and actually own something.

It's still possible with hard work and smart spending, but it's NOTHING like it was when I was 25.

Also, we're just talking houses. Forgetting to add that $200 groceries are now $500, that new $32k 4x4 is now $70k, that $1500 beater car is now $4k, that $30 water bill is now $80 etc. etc. etc.

We're in a new era none of us have ever seen before.
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I see new houses in the middle of Dfw for less than 200k. I work with people that have zero skills making 40 an hour plus all the OT They want. And they are still broke, I work with folks that have had a great high paying job for 30 plus years and they can’t retire because they owe too much on their home and cars. Sometimes you just can’t fix stupid.
We hired a young guy a few years ago. He was green but not scared to work. He hustled AC jobs on the side. His wife was a hustler. She is a nurse, and not afraid to stand up. They went in half with her brother on a big house in broken bow right before COVID hit. The had it air B&B most of it. Paid it off in 3 years, hell of a nice place. She did some apartments in ftworth and Dallas for air B&B. Then she took their house and set it up as a kind of halfway house for the mentally handicapped getting government money. Last I heard she was making a killing on it. Bought another house to move in, I think she stays at home now a days. You risk nothin, you get nothing.
 
arse_sidewards said:
20yr ago 1 job was perfectly fine as long as you didn't make minimum and made some effort to reduce the rest of your spending to prioritize saving for the down-payment.


Exactly. And in some markets it's just not possible without dual incomes and/or incomes above a certain threshold. You could not have a house where I live.


I don't see it being that bad. I think that there will be some nominal reduction but you're definitely right that the bulk of the correction is mostly gonna be at the expense of the dollar.
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I guess, no way I would've been able to do what I did on 1 job. These day's i'm just written off as an "old boomer" though :rasta:
 
[486] said:
they'll be eating bugs and I'll probably have fifteen migrant boarders assigned to "my" (dangerous kulak language, that) collective farm
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:laughing:

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Provience said:
I guess, no way I would've been able to do what I did on 1 job. These day's i'm just written off as an "old boomer" though :rasta:
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You live like a penniless hippie but with land. A commune of one if you will. :laughing:

That's not something that can be reasonably expected from the general population.

[486] said:
they'll be eating bugs and I'll probably have fifteen migrant boarders assigned to "my" (dangerous kulak language, that) collective farm
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We both know you hate people too much to have "employees."
 
gunracer1 said:
I see new houses in the middle of Dfw for less than 200k. I work with people that have zero skills making 40 an hour plus all the OT They want. And they are still broke, I work with folks that have had a great high paying job for 30 plus years and they can’t retire because they owe too much on their home and cars. Sometimes you just can’t fix stupid.
We hired a young guy a few years ago. He was green but not scared to work. He hustled AC jobs on the side. His wife was a hustler. She is a nurse, and not afraid to stand up. They went in half with her brother on a big house in broken bow right before COVID hit. The had it air B&B most of it. Paid it off in 3 years, hell of a nice place. She did some apartments in ftworth and Dallas for air B&B. Then she took their house and set it up as a kind of halfway house for the mentally handicapped getting government money. Last I heard she was making a killing on it. Bought another house to move in, I think she stays at home now a days. You risk nothin, you get nothing.
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You just proved my point.

"Right before covid hit..."

:confused:
 
It’s hitting us pretty hard. Like worse I’ve ever been. Pity party incoming.

I’m making the most base pay I’ve ever made in my life now. Coming off of a year of really hard circumstances so we used savings to survive but it’s stagnant now.

Nothing is selling, at least nothing valuable. I have two cars for sale and not one serious offer. Just crazy lowballs.

Food is easily 200% more than it was 2 years ago. Factor that with kids eating more now our food costs are 4x two years ago.

Electricity is 2.5x more than it was. First winter month of this year we are more than we were in the middle of summer running a/c all the time a few years ago.

Car insurance is 5x more now. Insane. I’m so close to dropping to liability but we can’t afford to replace them now.

We pay for Prime, Peacock (5/month), Spotify premium.

Nearly Zero eating out. I only do it minimally when I’m on a trip.

One personal loan. 1 credit card. And mortgage is our debt. We use debit only as we have been paying that stuff off. No new debt. Our mortgage is not a lot relatively speaking. Getting close to getting everything but the house paid off.

It’s insane. I don’t see how people can afford life right now because I do make good money comparatively. Wife is a stay at home mom. Doesn’t make sense for her to work and pay child care. Stores are packed, Amazon all over the neighborhood and everyone I know has new cars.
 
18 years ago I was doing it, 23yo, bought 1st house, stay at home baby momma, but it damn sure wasn't on 40 hours a week or nice cars, it was a fixer upper house 1500sqft house with a carport in a respectable neighborhood, a 4k explorer I had a 5% loan on, 50hrs a week as a journeyman, that held the water line, flipping cars bought new shoes and Christmas presents and got a little breathing room for rainy days.




I think the "good days" were before globalist offshored manufacturing jobs, opened our borders to desperate immigrants, which compresses wages for a blue collar guy trying to get ahead, "well shit, I'd love to bump you up, you're worth it, but I can hire Jose and Jesus for the same price as one of you and they'll eventually figure it out"

Then the immigrants and the welfare people suckb up all the $700 apartments in the ghetto, now the are 900mo, and the decent places that were 950 are now 1200, and your not getting a raise, the border is open, this week you've gotta train 13 Jose's, 7 will make it then they layoff the Joe's....


Then you've got the women's liberation movement, which was, no shit, funded by the CIA (gloria steinem, ms. magazine, look it up WORK OF CIA WITH YOUTHS AT FESTIVALS IS DEFENDED | CIA FOIA (foia.cia.gov))

Basically sell women a false bill of goods and persuade them to join the workforce, flooding the labor market, there was probably a nice little bump in some couples disposable income for a bit, but then the market is gonna suck up all the extra cash in inflation, and now it takes 2 incomes to buy a house, and the gov gets fatter on taxing 2 checks, kids are raised by the TV and radicalized teachers. It's all by design.

*of course I support women having equal rights, equal opportunity and equal pay for equal work (I just don't think they're happier in the long run)

**of course some guys are able to buy a house and have a stay at home wife, been there, done that, but it damn sure wasn't on 40 hours like was commonplace in better times
 
Motorcharge said:
I don't see it happening via the government. All these high dollar jobs went remote during the pandemic and people flooded back to lower income areas with their high salaries. How long before all these companies realize they can pay anyone to work remote. Why pay CA, NY, Chicago, etc salaries to someone in the rural South when they can just as easily hire someone remote in the 3rd world for pennies on the dollar vs their current employees. Or at the very least companies start adjusting pay down to match were employees are located. You'll also eventually see cost of living in these major cities start tanking as real estate starts sitting empty longer and longer.
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And a lot of those people are bitching up a storm when the companies say “no… I will not pay you a San Fran salary now that you live in Birmingham.”

Why not? I’m still doing the same thing, you big mean corporation!

“Cost. Of. Labor. Look it up.”

Capitalism sucks! Government should stop this!

Pretty sure it was by design
 
arse_sidewards said:
20yr ago 1 job was perfectly fine as long as you didn't make minimum and made some effort to reduce the rest of your spending to prioritize saving for the down-payment.
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20 years ago was 2004. Bull.

But… that’s exactly what people in 2004 said about 1984… who said it about 1964.

All about choices
 
Projectjunkie said:
I think the "good days" were before globalist offshored manufacturing jobs, opened our borders to desperate immigrants, which compresses wages for a blue collar guy trying to get ahead, "well shit, I'd love to bump you up, you're worth it, but I can hire Jose and Jesus for the same price as one of you and they'll eventually figure it out"
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You’re cutting the people who voted for and condoned the globalists too much slack.
 
rockota said:
20 years ago was 2004. Bull.

But… that’s exactly what people in 2004 said about 1984… who said it about 1964.

All about choices
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On some level, sure, it’s all about choice.

But on the other hand useful idiot opionions like yours serve no purpose but to provide cover for the people who actively do things that make our society worse off. It is measureably harder to get by at a given standard of living than it was in decades past to the point where you can’t blame it all on Starbucks and Netflix and other lifestyle scope creep.
 
arse_sidewards said:
On some level, sure, it’s all about choice.

But on the other hand useful idiot opionions like yours serve no purpose but to provide cover for the people who actively do things that make our society worse off. It is measureably harder to get by at a given standard of living than it was in decades past to the point where you can’t blame it all on Starbucks and Netflix and other lifestyle scope creep.
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Then why did my grandfather work two full time jobs for 20 years?
 
arse_sidewards said:
You’re cutting the people who voted for and condoned the globalists too much slack.
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Well, they were government educated...

Somebody had a pretty decent post in gcc recently, describing this, and how boomers could let these people in, basically it came down to, people were decent, and expected politicians to be decent, and looking back on their recent past, great depression, then ww2 and the baby boom following it, they were just kinda fat dumb and happy to be Americans and didn't know there were snakes in the grass.

Not saying it's OK, but sometimes I wish I didn't know what was behind the curtain
 
rockota said:
And a lot of those people are bitching up a storm when the companies say “no… I will not pay you a San Fran salary now that you live in Birmingham.”

Why not? I’m still doing the same thing, you big mean corporation!

“Cost. Of. Labor. Look it up.”

Capitalism sucks! Government should stop this!

Pretty sure it was by design
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We’ve had jobs open in Boston and San Diego for over a year. I make pretty good for where I live, but even with double my pay I’d be dirt poor if I took those jobs. There is no way they would pay what it took to live comfortably in either location.
 
Nearly all the pity party whiners in this thread are completely overlooking the fact that we are in the middle of a flux period. It is not a "new norm", not yet. Inflation drives costs up immediately and it takes time for salaries to match. They will. Every one of you that says those old guys had it easy, cost of living was lower, etc is simply lying to yourself to maybe justify something happening in your life at the moment. Having seen inflation cycles like this before (actually much worse under Carter) knows it will change. No one knows how or when it will change, but it will. Instead of crying about the current status of your earnings/spendings, recognize that you will make larger steps at some point in the future and not get so discouraged about the small steps at the moment. Hell, if you are young&single, consider getting another (or first) degree or learn another trade. You are already poor, right? Then being a poor student isnt really a change. Or grab a second job and stack that away for the future. Start that company you have been dreaming about, using these times to get all the paperwork and planning done.

Times have been just as bad in the past. Many of you may not remember times before 2000, but some of us do. I will tell you with absolute certainty that employment options now than when some of us older guys were grinding out a couple jobs while living the shanty life. I will also say the challenges of life have changed also, it certainly isnt easier now, but it isnt any worse. Sure, it sucks at the moment, but nothing is as consistent as change. Bidenomics is hammering people at the moment, but that dipshit cannot stay in office forever. No one foresaw Trump's period and most markets were screaming along and everyone was buying new stuff and boasting.

Before you get on about how bad things are, remember that even during the depression people still were getting wealthy. People who look beyond the immediate bullshit and use a market limit to their advantage, those move forward. Cue Arse to suggest communistic ideas about only those with family money did better in the depression. Not true. Hard work, careful planning, and a bit of luck go a long way.

What you face now is not what it will always be. Remember, it can get worse.:flipoff2: Flame Suit On.
 
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