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Economics 101..a drunk monkey could do better?
- Thread starter fl57caveman
- Start date
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There is no housing shortage, there is a shortage of affordable housing and there is no single politician in this country that can solve the 'affordable housing crisis' especially by raising taxes to throw money at the problem and here is why:
1986 average income = $29,000
1986 price of house = $33,000
1986 20% down payment = $6,000 @ 10% interest
1986 mortgage payment = $237 per month
2023 average income $88,000
2023 price of house = $725,000
2023 20% down payment = $145,000 @ 5% interest
2023 mortgage payment = $3,114
Since 1986:
Housing price
21 times
Down payment
24 times
Monthly payment
13 times
Average income
3 times
Unless this politician can figure out a way to force developers and home owners to reduce home prices over 20 times their current value or convince employers to pay their employees 20 times more than they are now, any discussion about 'affordable housing' is just a talking point intended only to raise taxes in pursuit of a fairy tale.
1986 average income = $29,000
1986 price of house = $33,000
1986 20% down payment = $6,000 @ 10% interest
1986 mortgage payment = $237 per month
2023 average income $88,000
2023 price of house = $725,000
2023 20% down payment = $145,000 @ 5% interest
2023 mortgage payment = $3,114
Since 1986:
Housing price
Down payment
Monthly payment
Average income
Unless this politician can figure out a way to force developers and home owners to reduce home prices over 20 times their current value or convince employers to pay their employees 20 times more than they are now, any discussion about 'affordable housing' is just a talking point intended only to raise taxes in pursuit of a fairy tale.
Rebel_Rider1969
Well Known Nuisance
Found one of my pay stubs from 86... knocking out $3.65 an hour and thought I was king $hit. ( high school) it's mind blowing to look back that far.There is no housing shortage, there is a shortage of affordable housing and there is no single politician in this country that can solve the 'affordable housing crisis' especially by raising taxes to throw money at the problem and here is why:
1986 average income = $29,000
1986 price of house = $33,000
1986 20% down payment = $6,000 @ 10% interest
1986 mortgage payment = $237 per month
2023 average income $88,000
2023 price of house = $725,000
2023 20% down payment = $145,000 @ 5% interest
2023 mortgage payment = $3,114
Since 1986:
Housing price21 times
Down payment24 times
Monthly payment13 times
Average income3 times
Unless this politician can figure out a way to force developers and home owners to reduce home prices over 20 times their current value or convince employers to pay their employees 20 times more than they are now, any discussion about 'affordable housing' is just a talking point intended only to raise taxes in pursuit of a fairy tale.
my first hourly pay job was a $1.00 per hr, & all the free pool or snooker i could shoot( paying customers came first)
circa: about 1971 or so...
1993
Viking1204
Master
I was lucky, when I was 15 I found a job working on farm, $5 an hour, back then that was good money for a kid in high school! Worked that job from 85 thru 88 when I graduated high school!
U.S. payments on debt spike to $659 billion, nearly doubling in two years
The U.S. government spent $659 billion this year paying off the interest on its debt, according to a Treasury report released Friday, as the nation's widening fiscal imbalance and the Federal Reserve's rate hikes dramatically raised the federal cost of borrowing. Because the federal government...
America Right Now is the Perfect Example of What Can Quickly Happen to a Prosperous Business When You Hire All the Wrong People
Report: Congress sneaks through $34,000 pay raise for itself
Bidenflation apparently isn't a worry to many members of Congress who are taking advantage of a $34,000 "pay raise" that they voted for themselves through an internal rule change that avoided the political backlash of openly allocating themselves more money, according to a new report.
www.wnd.com
Bay Ranger
Master
Actually, it's much worse than that. If you remove the 8 0's the budget cuts amount to $3.85 not $38.50!
gold hit all-time high today, $2070.00
that's what you get when you print money , it weakens the USD. not to mention the conflicts in europe & middle east, investors are fleeing to a safe haven...
but remember; if you don't hold it, you don't own it, highly advise against gold IRA's, or paper gold, it is a promise to pay...and we all know what happens if the
fecal matter hits the rotating air movement machine..
that's what you get when you print money , it weakens the USD. not to mention the conflicts in europe & middle east, investors are fleeing to a safe haven...
but remember; if you don't hold it, you don't own it, highly advise against gold IRA's, or paper gold, it is a promise to pay...and we all know what happens if the
fecal matter hits the rotating air movement machine..
Americans Need to Earn 80% MORE Today Than Before Bidenomics Struck Just to Afford Buying a Home - The Liberty Daily
If you love the news, check out The Liberty Daily's homepage. Home prices have seen a significant increase of 42% since 2020. The rise in both mortgage rates and borrowing costs has made it more challenging to afford a home in today’s market. As a result, prospective buyers need to earn 80% more...
thelibertydaily.com
I'm about to dump some graphs from FRED, I'm not an expert but my understanding is that there was a significant amount of currency printed and it still hasn't fully entered the economy. With my meagre understanding I want to say that there is no easy way out unless we take significant austerity measures and experience deflation. We've all seen how the cost of goods have been increasing in price at an increasingly faster rate every year and it's because we keep trying to delay the hangover with more worthless dollars. I can't tell you how to profit over the next few years but I firmly believe the middle class is going the way of the dodo and we're experiencing the first steps of neo-feudalism which will see the working man become a wage/debt slave. Gone is the republic, say hello to the oligarchy.
Enough of me here's the graphs, all from https://fred.stlouisfed.org/
Before May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other checkable deposits (OCDs), consisting of negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions.
Beginning May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other liquid deposits, consisting of OCDs and savings deposits (including money market deposit accounts). Seasonally adjusted M1 is constructed by summing currency, demand deposits, and OCDs (before May 2020) or other liquid deposits (beginning May 2020), each seasonally adjusted separately.
Calculated as the ratio of quarterly nominal GDP to the quarterly average of M2 money stock.
The velocity of money is the frequency at which one unit of currency is used to purchase domestically- produced goods and services within a given time period. In other words, it is the number of times one dollar is spent to buy goods and services per unit of time. If the velocity of money is increasing, then more transactions are occurring between individuals in an economy.
The frequency of currency exchange can be used to determine the velocity of a given component of the money supply, providing some insight into whether consumers and businesses are saving or spending their money. There are several components of the money supply,: M1, M2, and MZM (M3 is no longer tracked by the Federal Reserve); these components are arranged on a spectrum of narrowest to broadest. Consider M1, the narrowest component. M1 is the money supply of currency in circulation (notes and coins, traveler's checks [non-bank issuers], demand deposits, and checkable deposits). A decreasing velocity of M1 might indicate fewer short- term consumption transactions are taking place. We can think of shorter- term transactions as consumption we might make on an everyday basis.
Before May 2020, M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000) less individual retirement account (IRA) and Keogh balances at depository institutions; and (3) balances in retail money market funds (MMFs) less IRA and Keogh balances at MMFs.
Beginning May 2020, M2 consists of M1 plus (1) small-denomination time deposits (time deposits in amounts of less than $100,000) less IRA and Keogh balances at depository institutions; and (2) balances in retail MMFs less IRA and Keogh balances at MMFs. Seasonally adjusted M2 is constructed by summing savings deposits (before May 2020), small-denomination time deposits, and retail MMFs, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.
Enough of me here's the graphs, all from https://fred.stlouisfed.org/
Before May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other checkable deposits (OCDs), consisting of negotiable order of withdrawal, or NOW, and automatic transfer service, or ATS, accounts at depository institutions, share draft accounts at credit unions, and demand deposits at thrift institutions.
Beginning May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float; and (3) other liquid deposits, consisting of OCDs and savings deposits (including money market deposit accounts). Seasonally adjusted M1 is constructed by summing currency, demand deposits, and OCDs (before May 2020) or other liquid deposits (beginning May 2020), each seasonally adjusted separately.
Calculated as the ratio of quarterly nominal GDP to the quarterly average of M2 money stock.
The velocity of money is the frequency at which one unit of currency is used to purchase domestically- produced goods and services within a given time period. In other words, it is the number of times one dollar is spent to buy goods and services per unit of time. If the velocity of money is increasing, then more transactions are occurring between individuals in an economy.
The frequency of currency exchange can be used to determine the velocity of a given component of the money supply, providing some insight into whether consumers and businesses are saving or spending their money. There are several components of the money supply,: M1, M2, and MZM (M3 is no longer tracked by the Federal Reserve); these components are arranged on a spectrum of narrowest to broadest. Consider M1, the narrowest component. M1 is the money supply of currency in circulation (notes and coins, traveler's checks [non-bank issuers], demand deposits, and checkable deposits). A decreasing velocity of M1 might indicate fewer short- term consumption transactions are taking place. We can think of shorter- term transactions as consumption we might make on an everyday basis.
Before May 2020, M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000) less individual retirement account (IRA) and Keogh balances at depository institutions; and (3) balances in retail money market funds (MMFs) less IRA and Keogh balances at MMFs.
Beginning May 2020, M2 consists of M1 plus (1) small-denomination time deposits (time deposits in amounts of less than $100,000) less IRA and Keogh balances at depository institutions; and (2) balances in retail MMFs less IRA and Keogh balances at MMFs. Seasonally adjusted M2 is constructed by summing savings deposits (before May 2020), small-denomination time deposits, and retail MMFs, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.
