Biden's America

[JJ Husker]

5 minutes ago, teachercd said:

Tell me where you shop, please!  Store prices in Omaha are insane. Loaf of bread was 1 dollar now is 1.47.  That is a crazy jump.

 

I don't think we will ever see Jimmy Carter interest rates again but I am glad I am not looking to buy a house right now.

$1.47….buy buy buy.

I think the cheapest bread I’ve seen lately is about $2.39

 

The economy is really a mixed bag right now. My business has been doing great but the cost of practically everything is insane. My carbon steel costs are back down to what I would call normal but other items are still pretty damn high. Groceries, gas, utilities, etc. suck. I’d really hate to be a younger person trying to buy my first home. Interest rates really aren’t that insane but we were spoiled with historically low rates for a very long time so now it seems terrible. There is some good and more bad but considering the world economy, it could be much worse.

 

I don’t particularly blame Joe or give him credit. The economy usually just does what it does. The Fed is responsible for the higher interest rates but with inflation being what it is, whatcha gon do?

[teachercd]

1 minute ago, JJ Husker said:

$1.47….buy buy buy.

I think the cheapest bread I’ve seen lately is about $2.39

 

The economy is really a mixed bag right now. My business has been doing great but the cost of practically everything is insane. My carbon steel costs are back down to what I would call normal but other items are still pretty damn high. Groceries, gas, utilities, etc. suck. I’d really hate to be a younger person trying to buy my first home. Interest rates really aren’t that insane but we were spoiled with historically low rates for a very long time so now it seems terrible. There is some good and more bad but considering the world economy, it could be much worse.

 

I don’t particularly blame Joe or give him credit. The economy usually just does what it does. The Fed is responsible for the higher interest rates but with inflation being what it is, whatcha gon do?

2.39???  Dang

[Guy Chamberlin]

14 minutes ago, teachercd said:

Tell me where you shop, please!  Store prices in Omaha are insane. Loaf of bread was 1 dollar now is 1.47.  That is a crazy jump.

 

I don't think we will ever see Jimmy Carter interest rates again but I am glad I am not looking to buy a house right now.

 

Mortgage rates are still half what they were when Ronald Reagan left office. 

 

Probably shouldn't attach Presidents to these as it's usually independent economic forces like the Arab Oil embargo, the dot com bust, the mortgage crisis, or the late arriving bill for wars like Vietnam, Iraq and Afghanistan that drive the big inflationary changes. 

[teachercd]

3 minutes ago, Guy Chamberlin said:

 

Mortgage rates are still half what they were when Ronald Reagan left office. 

 

Probably shouldn't attach Presidents to these as it's usually independent economic forces like the Arab Oil embargo, the dot com bust, the mortgage crisis, or the late arriving bill for wars like Vietnam, Iraq and Afghanistan that drive the big inflationary changes. 

I think it even hit 20 during Ronnies time in office, insane!

[JJ Husker]

9 minutes ago, teachercd said:

2.39???  Dang

We don’t go through much bread.  It seems the stuff we usually do end up getting is $4ish. Dave’s Killer bread or some low carb BS. I just went to the store a couple nights ago (wife gets most of the groceries) and some of the prices shocked me. Meat at the grocery store is crazy. Sam’s Club is still pretty reasonable and they have about the beat beef and pork around.

[teachercd]

9 minutes ago, JJ Husker said:

We don’t go through much bread.  It seems the stuff we usually do end up getting is $4ish. Dave’s Killer bread or some low carb BS. I just went to the store a couple nights ago (wife gets most of the groceries) and some of the prices shocked me. Meat at the grocery store is crazy. Sam’s Club is still pretty reasonable and they have about the beat beef and pork around.

Dave's killer!  Dude really killed a guy, didn't he?

 

And beef prices are sick right now.  

[Guy Chamberlin]

 

Are we talking about the guy with the most vain logo in history, trying to seduce lonely housewives at the grocery store? 

[Dr. Strangelove]

1 hour ago, teachercd said:

Tell me where you shop, please!  Store prices in Omaha are insane. Loaf of bread was 1 dollar now is 1.47.  That is a crazy jump.

 

I don't think we will ever see Jimmy Carter interest rates again but I am glad I am not looking to buy a house right now.

All of that is fair, but interest rates are the result of actions by central banks, mostly the Federal Reserve. No matter who was President, the rates should be where they are causing housing to be where it is today.

 

The Federal Reserve said as much in early 2020. It's why I built a house that summer.

[teachercd]

4 minutes ago, Dr. Strangelove said:

All of that is fair, but interest rates are the result of actions by central banks, mostly the Federal Reserve. No matter who was President, the rates should be where they are causing housing to be where it is today.

 

The Federal Reserve said as much in early 2020. It's why I built a house that summer.

Did you have 0 property taxes for that first year on the new build?

[JJ Husker]

15 minutes ago, Guy Chamberlin said:

 

Are we talking about the guy with the most vain logo in history, trying to seduce lonely housewives at the grocery store? 

Yes. But it’s pretty good bread.

[Guy Chamberlin]

If we're being anecdotal and selfish about it, I refinanced at a historical low rate three years ago, and now earn a healthy monthly payday from my higher interest money market account. 

 

Good times!

[JJ Husker]

41 minutes ago, teachercd said:

Dave's killer!  Dude really killed a guy, didn't he?

 

And beef prices are sick right now.  

I’ve never heard that. I do think they employ ex-cons so the name may have come from that fact.

[JJ Husker]

2 minutes ago, Guy Chamberlin said:

If we're being anecdotal and selfish about it, I refinanced at a historical low rate three years ago, and now earn a healthy monthly payday from my higher interest money market account. 

 

Good times!

Yeah you don’t see many people celebrating collecting increased interest payments but that is the flip side of the higher rates. Selfishly I don’t mind this situation either. Our mortgage was locked in at historic lows and now the bank actually pays me something. Feel sorry for my kids though. Not sure when they’ll be able to afford a new mortgage.

[BigRedBuster]

1 minute ago, teachercd said:

Tell me where you shop, please!  Store prices in Omaha are insane. Loaf of bread was 1 dollar now is 1.47.  That is a crazy jump.

 

I don't think we will ever see Jimmy Carter interest rates again but I am glad I am not looking to buy a house right now.

That is because of the inflation that has been a problem over the last couple years.  Now, inflation is back down.  That doesn't mean prices are going to go back down.  It just means they aren't rising as fast.

[ZRod]

3 hours ago, JJ Husker said:

Yeah you don’t see many people celebrating collecting increased interest payments but that is the flip side of the higher rates. Selfishly I don’t mind this situation either. Our mortgage was locked in at historic lows and now the bank actually pays me something. Feel sorry for my kids though. Not sure when they’ll be able to afford a new mortgage.

As someone looking to buy a house for a growing family, it sucks a$$. We refinanced on our current place and we'd love to stay here, but it's too small. Housing prices are stupid, but if we were around even 4% or 5% for interest rates it wouldn't hurt so bad.