Investing General Discussion

  • Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!



    Go here and give us your nominations!
    Who's been the biggest Asshat in the last year? Give us your worst ones!
Kiroy

Kiroy

Marine Biologist
<Bronze Donator>
35,439
102,556
Mist said:
Assuming you already have your fixed mortgage, don't consume a ridiculous amount of meat or drive a giant gas guzzler, what other costs are really 'skyrocketing?'

Yes, food has gone nuts, and gas is *gasp* all the way back to where it was when Bush was president, but food should not represent >50% of your budget. Most Americans could eat 40% less food and literally be better off.
Click to expand...

Property upkeep and development.

Any trade work one needs done seems to have doubled in price since covid, if not tripled. And if you can do it yourself the materials have skyrocketed as well. I built a deck addition + pergola that would have cost probably 2-3k 5 years ago for 7k. This is after getting quotes (cause I didn't feel like building it) which we're all 20k+.

Anything like this is insane costs. Much more difficult to add value to your most important asset nowadays.

And "ridiculous amount of meat" is just silly. All foodstuffs have inflated. From your ass-shit tier of frozen crap, to veggies rice and flour. Not sure what weird hermit like existence your living where inflation has only affected meat and fuel.

Pretty much the only thing that's the same or cheaper is access to mindless zombie inducing entertainment. Weird.
 
  • 4Like
Reactions: 3 users
Sanrith Descartes

Sanrith Descartes

You have insufficient privileges to reply here.
<Gold Donor>
45,098
122,697
Cybertrucks appear to be shipping. When TSLA announced the shipping of the first MYs, the stock went vertical. The problem is the stock already went parabolic and is falling back to earth. This is by no means an endorsement to buy the stock, just providing info.



 
Mist

Mist

REEEEeyore
<Gold Donor>
31,371
23,792
Kiroy said:
Property upkeep and development.

Any trade work one needs done seems to have doubled in price since covid, if not tripled. And if you can do it yourself the materials have skyrocketed as well. I built a deck addition + pergola that would have cost probably 2-3k 5 years ago for 7k. This is after getting quotes (cause I didn't feel like building it) which we're all 20k+.

Anything like this is insane costs. Much more difficult to add value to your most important asset nowadays.

And "ridiculous amount of meat" is just silly. All foodstuffs have inflated. From your ass-shit tier of frozen crap, to veggies rice and flour. Not sure what weird hermit like existence your living where inflation has only affected meat and fuel.

Pretty much the only thing that's the same or cheaper is access to mindless zombie inducing entertainment. Weird.
Click to expand...
Fuel prices around here are exactly where they were during the Bush administration, when most people were making half as much money as they do now, and huge swathes of people were out of work. 8 bucks an hour was a normal wage around here at the time. Now you don't see anyone paying less than 16, but really not less than 20.

Meats and grains are ridiculous. Nuts have actually come way down from the highs during the west coast droughts. Fruit is all over the place, cheap one day, expensive the next. But again, MOST Americans could dramatically cut their food intake and end up being better off. Prices only come back down once people stop sending buy signals.

As for contractors, I've had a lot of work done and I've had to shop around quite a lot, over long periods of time. The differences between quotes are just insane. Some people are taking significantly more advantage of the inflation narrative than others. But materials are down about 30% off their highs, like wood, composite, and shingles.

And your last point isn't weird at all. Things that are only artificially scarce and can actually be copied infinite numbers of time have no reason to go up. The fact that some still have risen is just opportunistic predatory pricing.
 
  • 1Picard
Reactions: 1 user
Sanrith Descartes

Sanrith Descartes

You have insufficient privileges to reply here.
<Gold Donor>
45,098
122,697
Mist said:
Fuel prices around here are exactly where they were during the Bush administration, when most people were making half as much money as they do now, and huge swathes of people were out of work. 8 bucks an hour was a normal wage around here at the time. Now you don't see anyone paying less than 16, but really not less than 20.

Meats and grains are ridiculous. Nuts have actually come way down from the highs during the west coast droughts. Fruit is all over the place, cheap one day, expensive the next. But again, MOST Americans could dramatically cut their food intake and end up being better off. Prices only come back down once people stop sending buy signals.

As for contractors, I've had a lot of work done and I've had to shop around quite a lot, over long periods of time. The differences between quotes are just insane. Some people are taking significantly more advantage of the inflation narrative than others. But materials are down about 30% off their highs, like wood, composite, and shingles.

And your last point isn't weird at all. Things that are only artificially scarce and can actually be copied infinite numbers of time have no reason to go up. The fact that some still have risen is just opportunistic predatory pricing.
Click to expand...
It goes without saying, but people need to be smart consumers when it comes to food. Now that I am back in Florida I love me some Publix, but their prices are crazy except for the bogo deals. Winn Dixie had a weekend special on family packs of boneless ribeye at $6.99/pound. The same steak is $17/pound at Publix. And no one can beat Walmart for the basic staple items.
 
  • 3Like
Reactions: 2 users
Aldarion

Aldarion

Egg Nazi
9,872
27,144
Mist said:
But again, MOST Americans could dramatically cut their food intake and end up being better off.
Click to expand...
You keep saying this over and over.

Do you really think that if you take the average American and make them poorer, they're gonna somehow magically eat healthier? What a weird idea.

I don't disagree with the quoted statement, but the idea that making people poorer somehow gets them to do that is just hilariously dumb. It gets them to change ice cream brands and bitch about food prices on tiktok. Thats it.
 
  • 1Like
  • 1Truth!
Reactions: 1 users
Furry

Furry

🌭🍔🇺🇦✌️SLAVA UKRAINI!✌️🇺🇦🍔🌭
<Gold Donor>
22,243
29,250
Sanrith Descartes said:
Cybertrucks appear to be shipping. When TSLA announced the shipping of the first MYs, the stock went vertical. The problem is the stock already went parabolic and is falling back to earth. This is by no means an endorsement to buy the stock, just providing info.



Click to expand...

I CAN"T BELIEVE HO WMANYT!!!!! and there's like 6.

Meh.
 
Mist

Mist

REEEEeyore
<Gold Donor>
31,371
23,792
Aldarion said:
You keep saying this over and over.

Do you really think that if you take the average American and make them poorer, they're gonna somehow magically eat healthier? What a weird idea.

I don't disagree with the quoted statement, but the idea that making people poorer somehow gets them to do that is just hilariously dumb. It gets them to change ice cream brands and bitch about food prices on tiktok. Thats it.
Click to expand...
I'm just saying that as long as people continue to eat too much food at too high prices, those prices will not come back down. That is how economics works. Also how fat people logic works.
 
Sanrith Descartes

Sanrith Descartes

You have insufficient privileges to reply here.
<Gold Donor>
45,098
122,697
Lightning Lord Rule said:
Sanrith Descartes Sanrith Descartes I didn't follow you out of ALB (with my small position so eh), and it looks like it may be holding at this point. -ish. Kinda. Maybe.

Thoughts and prayers bros.
Click to expand...
I was torn on adding or bailing to be honest. Ultimately i didnt see anything to override my 10% cut bait level on trades that go sideways after entry. Aside from its long term debt which I felt was high, the company should have been fine on those earnings. Now that I am out it should moon for you :)
 
  • 1Worf
Reactions: 1 user
Sanrith Descartes

Sanrith Descartes

You have insufficient privileges to reply here.
<Gold Donor>
45,098
122,697
U.S. 30-Year Mortgage Rates Jump To 7.09%, Highest Since 2002

U.S. 30-Year Mortgage Rates Jump To 7.09%, Highest Since 2002​


BENZINGA 12:02 PM ET 8/17/2023
 
  • 1Mother of God
  • 1Launch Fail
Reactions: 1 users
Khane

Khane

Got something right about marriage
20,517
14,241
Sanrith Descartes said:
U.S. 30-Year Mortgage Rates Jump To 7.09%, Highest Since 2002

U.S. 30-Year Mortgage Rates Jump To 7.09%, Highest Since 2002​


BENZINGA 12:02 PM ET 8/17/2023
Click to expand...

Fortunately you can get much better interest rates on ARM loans.
 
  • 4Worf
Reactions: 3 users
Gravel

Gravel

Mr. Poopybutthole
40,082
132,279
Sanrith Descartes said:
U.S. 30-Year Mortgage Rates Jump To 7.09%, Highest Since 2002

U.S. 30-Year Mortgage Rates Jump To 7.09%, Highest Since 2002​


BENZINGA 12:02 PM ET 8/17/2023
Click to expand...
Was talking to some new friends we made the other day, and they bought their house earlier this year I think. I asked them if they didn't mind me asking how bad their interest rate was. It was like 6.5% or something.

A little over a year earlier and we locked in 2.75%. That'd make our monthly payment more than 50% more than it currently is. Insane.
 
  • 3Like
  • 1Mother of God
Reactions: 3 users
Sanrith Descartes

Sanrith Descartes

You have insufficient privileges to reply here.
<Gold Donor>
45,098
122,697
Gravel said:
Was talking to some new friends we made the other day, and they bought their house earlier this year I think. I asked them if they didn't mind me asking how bad their interest rate was. It was like 6.5% or something.

A little over a year earlier and we locked in 2.75%. That'd make our monthly payment more than 50% more than it currently is. Insane.
Click to expand...
I did the napkin math on the couple who just bought our place in NY. 20% down so no mortgage insurance but with taxes and insurance they are seeing a monthly nut of about $4200. A year earlier it would have been just under $3k. Thats an extra $1200 a month lit on fire. And they are going to get fucked by SALT so they cant even write all that shit off considering their state income tax also.
 
  • 2Mother of God
Reactions: 1 users
Mist

Mist

REEEEeyore
<Gold Donor>
31,371
23,792
Sanrith Descartes said:
I did the napkin math on the couple who just bought our place in NY. 20% down so no mortgage insurance but with taxes and insurance they are seeing a monthly nut of about $4200. A year earlier it would have been just under $3k. Thats an extra $1200 a month lit on fire. And they are going to get fucked by SALT so they cant even write all that shit off considering their state income tax also.
Click to expand...
It's not lit on fire, because it's still going into the equity of the house. They will eventually sell that house and make money unless the entire real estate market tanks unbelievably hard.
 
  • 1Launch Fail
  • 1Slow
Reactions: 1 users
Sanrith Descartes

Sanrith Descartes

You have insufficient privileges to reply here.
<Gold Donor>
45,098
122,697
For any degenerate gamblers out there looking for some yield thats above inflation, have some nice high yield BBB corporate bonds...

1692291234184.png
 
You must log in or register to reply here.