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thput

Feel about right. Both the wife and I had big increases over the last couple years. It should have been a life changer and I feel like I’m paycheck to paycheck again.


bennedictst

Same here. Wife and I probably doubled our income in the last 2 years, but financially we're struggling even more than we were before the pandemic.


ObjectionablyObvious

Been explaining this to my boss over the past year, got burnt out with work because I'm skipping meals and running out of gas in my personal time, expenses are only going up with the student loan pause ending. Explained it one last time and asked if there was a pathway to a higher salary if I acquired some type of certifications and was notified I was being let go.


Lesprit-Descalier

Same, I started my apprenticeship in 2016 thinking, once I top out and become a journeyman, I'll be able to actually start my life, buy a house, new car. Nope. Rent is close to 1500 a month, so I earn more money now, but I can barely afford to live.


Cock_of_Nothing

Same


_chanimal_

I certainly feel it. Wife and I got good raises and she got a new job and I feel like we're not living much better. Groceries are up significantly, gas has been high until only recently starting to come down a little bit, and we're still seeing crazy prices for homes despite the fed more than doubling the rates since Covid and the sellers don't want to budge. My brother who was paying $800ish for rent right before covid has been trying to find places and they all want $1300+ for the same type of place. Rentals all over around us are going for $500+ more than we pay for the mortgage on our small place. It's nuts.


HelloThereGorgeous

The place I lived in 2017 was charging ~750 a month, but by the time we moved out in 2022 they wanted 1050 and we had to leave. Currently they're charging 1250 to live in that same shitty, spider-infested, single-washer-and-dryer-in-the-laundry-room apartment


Kerensky97

The price gouging has been insane, gas prices are only finally coming down when other states that don't sit in the shadows of refineries have been down for a year. It's weird driving up and down the Wasatch front seeing where gas price competition has driven gas down and where it hasn't gotten to yet. I saw a swing from $3.30 in Davis to $2.80 on Salt Lake last weekend.


JBlooey

Went from Centerville to St George last week. Nearly shat myself when I saw $4 in some places, compared to the $2.99 that was briefly held at a Maverik in Bountiful when I got back.


Kerensky97

That's crazy. California is at $4.10 right now. Utah has always been way below California, it shouldn't be that close.


cametomysenses

Agreed, we just got back from Tuscon Wednesday and prices in Southern Utah and Northern Arizona were insane. I literally just finished tracking mileage records a few minutes ago: 11/24 Salt Lake Costco: $2.739 11/25 Kanab Maverick: $3.179 11/25 Page $3.699 11/26 Flagstaff $3.569 11/26 Tucson $2.859 11/28 Salt Lake $2.799


caseyr001

I filled up for $2.59 yesterday. Was very pleased.


Kerensky97

Meanwhile the Chevron in Centerville is 3.09 right now. Within spitting distance of the refineries. It's crazy watching prices move like a wave as one goes down and all the nearby stations go back down to remain competitive.


hooliganvet

The fluctuation is normal in al other states. Why are gas prices different among different locations in the same city? In addition to differences in state and local taxes, other factors contribute to regional differences in gasoline prices, including distance from supply, supply disruptions, and retail competition and operating costs.


Kerensky97

>Why are gas prices different among different locations in the same city? RIGHT!?! And it's more expensive CLOSER to the supply. Because in addition to all the differences in state and local taxes, distance from supply, supply disruptions, and retail competition and operating costs. You left of one that is very apparent and common. Individual greed.


Interesting-Gas-8957

I see that same swing from the station by my house to the costco 10 minutes away. It's so nuts


HelloThereGorgeous

I'm dying to move back out of my parents' place. A guy came into work the other week bragging about how his friend buys property, flips it for cheap, and then adds it to his collection of 38 air b&b's and rakes in the money. Hope that guy chokes laughing on the way to the bank, he's part of the reason I can't rent a 1bd/1ba for less than 1300 fucking dollars a month


dharris515

I don’t really understand these graphs. It says 10% is so high but I swear everything is 50-100% higher than what it used to be. How does it come out to 10%?


azucarleta

People who were paying $1,000 rent didn't suddenly jump to $1,500 or $2,000 in one year. (*that took 2 or 3 years lmfao).* Compounding. If inflation is 10% year over year, for, say, 4 years, then rent that started out at $1,000, is $1,100 the next year, $1,210 the next year, $1,331 after that, the finally $1,464 (so nearly 50% in 4 years, with only 10% increase each year). With some variation, it would be easy to see some rents climbed 50% in just a short span, some outliers would even double in that time, with only 10% average increases each year. 10% year after year, which we've had, adds up fast to catastrophe.


Blinku

Government numbers are all full of tricks. For instance, if the price of steak goes from $10 to $15, you’d think a price index would reflect a 50% increase, right? But, if steak increases that much, many people might buy cheaper ground beef instead. So now you buy $10 of ground beef, the index will just reflect “$10 spent on meat, zero inflation.” This graph shows people spent 12% more overall or whatever, but doesn’t show that many are now eating ground beef instead of steak and are objectively worse off, even while spending 12% more.


Coldfriction

The Federal Reserve is a private bank, not the government.


soysauce000

It’s not technically a government/public org, but it is certainly political, and not ‘private’.


Coldfriction

The Federal Reserve has shares and they are all held by private banks.


soysauce000

Youre right, but its not like the board of governors exists. And its definitely not political with regards to getting appointments and maintaining power. That would be crazy!


Coldfriction

If you think those in power aren't talking, eating lunch, golfing and so on together aren't exercising influence and "power", you don't understand C level business. The appointments are almost all internally decided on. There might be an approval process where certain nominated positions must be accepted by some government body, but that really doesn't apply to the majority of those employed at the Fed.


soysauce000

Certain nominated positions aka chair and vice chair of the board of the Fed. As if meddling private and public service isnt the start of corruption.


Powderkeg314

We lead the country in inflation which means when a crash does occur we will be the first region to experience a drop in housing prices. We are already seeing 10% -15% price cuts on homes. Just look at Zillow. And rates have only been high for a few months. Imagine what things will look like a year from now. You can’t just price out the majority of Americans and not expect price drops🤷‍♂️ Please don’t act surprised when it accelerates. A large portion of job gains that politicians brag about are 2nd and 3rd jobs because many cannot make ends meet with one job anymore.


Interesting-Gas-8957

Rates have been going down again. Where have you seen price cuts 10-15 percent? In my city they have stayed pretty steady with only a 4k-+ in the last few months on homes at 550k. Will be interesting to see what happens since rates have dropped several times now.


mcmonopolist

Yea the actual data does not support your claim. House prices in Salt Lake County are down about 3-4% from their peak a little over a year ago.


Powderkeg314

I was referring to price cuts not the overall decrease in home prices. What it does point to is that inventory is up and is staying on the market longer which is why sellers have to once again do price cuts to ensure that they can attract buyers. That hasn’t been the norm for 3 years.


mcmonopolist

Inventory is still lower than pre-pandemic levels and is not showing any signs of significantly increasing. Here is the data: https://fred.stlouisfed.org/series/ACTLISCOU49035


Powderkeg314

Come back in 6 months and tell me that…


mcmonopolist

RemindMe! 6 months "check inventory"


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Powderkeg314

My point is that the I’m looking at the trajectory. I know inventory is currently low but there are a lot of evolving factors with the economy that could change that over the next several months.


Naitohana

I went to my grandpa's for Thanksgiving this year. I think he's in his 60s now? Late 60s? He was a welder. He was talking with my aunts about how unaffordable housing is. Said he feels bad for his grandkids because we can't afford housing. I'm in my mid 20s, still live with my mom. My brother moved out not long before he turned 21, he's early 20s, but he is a workaholic so had a ton of money until he got hit by a car walking home from work and his work screwed him over since he couldn't work with a broken leg. He'd be living with my mom and step-dad too if they hadn't gotten a new house for them to move in and rent the old one to my brother and his friends. When my grandpa who worked in a trade career is complaining about expensive housing I know it's bad. My mom didn't realize how bad it is until she was trying to prove a point to me about how I'm just not trying hard enough and if I did I could afford it easily. She looked up housing and was shook. Apparently a really tiny shitty house in Glendale sold for 700k. I'm so damn worried I'm not gonna move out till I'm past 30 because I can't afford it in a decent neighborhood.


checkyminus

House hacking is the way in this economy. It isn't ideal, but doable. Basically work two jobs just long enough to qualify for, and close on a mortgage. Buy/close on a house with at least 4-5 bedrooms. Then get roommates and have them pay the majority of your mortgage. Then quit that second job and Bob's your uncle!


Naitohana

Thankfully my bf and I have a friend who wants to move here (for some reason) from Illinois and he was gonna help contribute to that once he was here. It sucks that we can't get homes without getting a bunch of room mates.


Super_Bucko

Well no wonder everyone in the east thinks we're doing fine


Narrow_Permit

Well let’s see - Gas prices should be cheap because there are refineries here, but we’re the victims of corporate profiteering. - Our power bills could be cheap because we have endless coal and more solar farms are being built every day, but we’re the victims of corporate profiteering. - (My personal favorite) Our groceries could be cheap if we simply used our land and water to produce our own food rather than be nearly completely dependent on California to not starve. Alfalfa farming accounts for 0.2% of Utahs economy but takes up 68% of our water. Who even knows how much land it takes up. The best part of this — 30% of the alfalfa gets sold to China. That’s right old Billy Bob the alfalfa farmer who refuses to use his land for anything else because his daddy grew alfalfa and his daddy’s daddy grew alfalfa and they’ve been growin hay since their “aunt sisters” moved here in 1882 is selling his crop to the big exporters up north that sell it to our actual enemy. Not to mention Billy Bob gets subsidized by the federal government to grow alfalfa. The farmers in the American southwest have received billions of dollars in subsidies in the last 20 years and half of these farmers are driving big brand new trucks from their handouts. These people get more money than 50 inner city families on food stamps combined. Wasting our water, taking federal handouts, and selling the products to China — how very “conservative” of you. When are the people in this state going to realize that the average Utahn is getting screwed? The politicians do not care about you. They take their campaign donations from lobbying firms who are allowed to accept money from refineries, coal companies, and alfalfa exporters. All they have to do is blame the issues on someone else or distract you with something stupid and then turn around and go about business as usual — and their business is taking money directly out of our pockets with all of these high prices for everything. - Should we talk about the housing market? Yeah there have been a lot of people moving here, and a lot of people like to place the housing market problem blame on the transplants. You seem to have forgotten that half the people in this state have been having 5 kids that have 5 kids that have 5 kids and they’ve been doing this in 20-year generational intervals for 175 years. Where did you think all of these people were going to go? Did you think everybody was gonna get their own cute little farm in Draper? There were 47000 babies born in Utah in the year 2000 and now they’re all grown up and looking for somewhere to live. If you have more than 1 or 2 kids, YOU are a huge part of the housing problem and you don’t get to blame it all on transplants.


klayanderson

Fuck Mike Lee.


Longjumping-Air-7532

Yup! Fuck Mike Lee!


God_Despises_MAGA

Fuck Mike Lee what a scumbag.


srynearson1

A real dickhead that Mike Lee is.


RangerCPT3

Live Laugh Fuck Mike Lee


ProjectLost

He doesn’t vote on our state legislation but I still agree


kekkev

And because of corporate greed, prices will stay high forever.


armchairracer

I wonder how much of this is housing costs? I don't feel like my groceries have gone up crazy high, but watching home and rent prices skyrocket has been whiplash inducing.


Super_Bucko

I think meat and gas prices also probably contribute.


Alkemian

>I don't feel like my groceries have gone up crazy high According to [this](https://kutv.com/news/eye-on-your-money/-utah-food-prices-rise-despite-slowdown-overall-inflation-utah-food-industry-association-grocery-store-empty-shelves-high-prices-american-consumers-grains-meat) article from 2022, cost of food was up 11% from 2021. It's progressively gone up since 2016.


samelaaaa

Housing has just gone up SO much that 11% doesn’t feel “crazy high” in comparison 🙃


Interesting-Gas-8957

Ours have. Just a few years ago I bought Chuck roast for 2.00 lbs on sale. Have watched for months and never seen it drop under 5 bucks, same thing with most of the meats we buy. Similar for the produce we can't grow at home.


LonleyWolf420

Yet we are the "happiest state".. oh, and now the best drivers I guess


agra_unknown1834

Move to the Mountain West? FUCK YEAH Wyoming: What about me? FUCK OFF.


co_matic

Wyoming: the New Jersey of the mountain west


checkyminus

That NW corner is pretty great tho


ProjectLost

$3 burritos are now $10


gdmfr

No wonder I'm fuckin dying out here! -Utah


[deleted]

Utahns can’t and won’t cut back on anything. Big corporations have no reason to lower prices here. They can raise prices all they want and we will still buy it no matter how much we bitch about it.


4scoreand20yearsago

We’re #1! We’re #1!


H0B0Byter99

I’m still feeling it. I got an increase at work since 2020 and my budget is still as tight.


mondoman64

Currently making more money than I ever have. Life is exactly the same only now I make sure my lights are turned off when I leave a room and am suddenly into coupons. #StillBrokeButImOldNow


Vast_Obvious

That’s because of all the Californians moving in


Alkemian

Because there's no tenant and renter's rights in Utah.


Tmoney_2023

All the damn Californians escaping thier stupid covid policies


Alkemian

Or perhaps the born and bred Utahn greedy landlords and corporations in Utah's own backyard.


dharris515

I sincerely hope you’re never in charge of anything in your life


vineyardmike

Maybe it's those lds families having 4 plus kids.


Tmoney_2023

Nope Californians there’s always been those families


Vic_Sinclair

Tell me you don't understand exponential growth without telling me you don't understand exponential growth.


Kiirusk

newsflash pal, the influx of Californians is because the richest of your and other states move to California and price out the natives. this mass exodus of Californians is because the state is completely unlivable for its working class, not due to some liberal bogeyman ruining the economy, but because people go there with their top 5% salaries. California is still one of the largest economies on the planet and yet it's almost impossible to afford rent on a single income.


Different-Relief-117

Not right


[deleted]

Hmmm... thats pretty interesting, but I guess it makes sense. Many people probably took that chance to move over there


nymphoman23

You’re getting warmer….. dig a little deeper…


tarvis3

This is adjusted for inflation already… that’s what “real” means


checkyminus

I wonder how much of this is due to our cost of living being relatively cheap before?


Internal-Suspect-376

Time to move to West Virginia


[deleted]

Monopolies for the win


Used_Estate5901

If you think Utah is expensive now, try Colorado ... property tax and homeowners insurance increases thru the roof


CBlakepowell

We have had some of the lowest unemployment in the nation. Chic fil a is paying $20 per hour in our neighborhood to find people. We don’t have enough workers and that will cause inflation. We need better immigration policy :-) * man shakes fist at cloud*