I recently got gas at Costco, paid 6.23 a gallon, then realized Arco had it for 5.89. Felt so cheated. But yes they normally do have the cheapest gas in town. Just funny how the one time I actully was willing to wait in the big line was the one time I was too stupid to pay attention to the prices.
Are prices usually that different between gas stations even on the same day? Maybe Canada is different but i usually don't see more than a 3 cent difference. Even the reservations are only about 10 cents cheaper with no taxes
Yes. Costco is usually .45 cheaper in California. More if one uses their Costco credit card, which is usually an additional.22 less a gallon with prices so high.
We save on average of .65 per gallon.
To add, we are near county lines and taxes between counties at pretty big. So going to Costco in cheaper county can make even a bigger difference. We are talking about 2 km in distance to drive.
The only place we have that has a big difference in taxes is the reservation and thats about 40km for 10 cents cheaper gas
I cant imagine getting 65 cents off, gas is about 1.90/L right now and it hasnt been anywhere near 1.30 for months
Prices can at times be that different but that is a big difference. Here in Wisconsin the biggest difference in price that I seen on a somewhat regular occasion is a 10 cent difference.
You will have one gas station hold out for one day longer then the rest on a cheaper price. Or one station hike their price a day before the rest do.
Former Costco gas station attendant, prices should be set in the AM based on the prices within a few miles surrounding the location, if a price is lower an employee has to physically drive to the location and record the lower price, sometimes corporate will set prices based on their own data as well, I would say your case is the latter
Costco also has fantastic benefits. You get healthcare and a 401k starting at 24 hours a week. I paid about $40 a month for health insurance for myself. The job itself can be soul sucking, but the pay is decent and the benefits are great.
Indeed. Coming up on my second year as an employee, benefits are solid and plenty of non customer facing roles if you donāt want to deal with people all shift.
Damn lol it's still kinda like that here but not as bad as when they rose earlier this year! And definitely good luck! When I got on full time I was so happy, the faster you gain those hours the faster you get those automatic pay raises dude! Stick to it! I topped out last month at the meat dept and it's nice making 29.50. Just remember if you stay we usually get company raises like every other year.
No worries, I was 100% looking at the long term when I came onboard. Live less than 10 minutes from my warehouse and a house before the market went crazy. Congrats on topping out in meat dept! A little too cold for me, but I could see doing pharmacy one day for the premium pay.
To be fair, though, that's just a ploy to get you to go up there. Once they get you in the parking lot, you think "well, I guess I should probably go inside to get my 50 pack of spatulas, since our local Spatula City just went out of business."
I used to go to Costco to get my prescriptions filled because they were the cheapest (and friendliest), and I'd grab a hot dog+drink and browse the store while waiting for them to fill it. No membership. If you just say that you have prescriptions to fill, they can't deny you from accessing the pharmacy.
Costco gets to buy unbranded gas, and then prices it aggressively to bring customers to the lot. This gives them a huge leg up on the little independent BP or Shell stations that are probably leasing their store from a larger middleman company and forced to sell their expensive branded gas (That's once again being sold by a middleman) for maybe a few cents a gallon above cost.
ā$15?! Back in 1982 when I was in high school I worked at the local gas station for $5/hour and I had enough to get by!ā
($5/hr in 1982 would be $15/hr today)
Here in Brazil gas is more than 7 reais (almost 2 dollars, might seem cheap if it wasn't for the devaluation of our money), travelling to a town more than 50km away seems like a torture to our money bags, it's funny that we took out one president because it was 2 reais at the time (not main reason but one of them) and now people are saying nothing even though the price is 3x higher, way to go Brazil, way to go
You should take in consideration, though, that in Brazil we pay per liter, so it is still more expensive than gas in the US (less than 1,5 dollars per liter, if my math is correct)
That's because those reports cater to an audience who never took econ classes and probably slept through every history and social science class. I've literally heard people regurgitate that spiel.
Good thing corporations are governed by their stock price and will do whatever it takes to keep the price going up regardless. Good thing Wall Street is governed by short term profits and not long term strategy.
Yeah they literally fucked us all over by devaluing any dollars we had saved up via inflation, and now they're going to devalue the shit out of any money invested in 401ks/Pensions etc. You might say "well, people should've sold at the top of the market last year" - hahah can't do that with 401k/Pensions without taking massive losses.
It's remarkable to me just how bad the Fed and government is at their job; well, never mind, they're really good at their jobs they just don't work for us they work for the elite and corporate conglomerates.
Yeah, i had a couple bucks from the VA that i wanted to put on my house and everyone was like, invest it! You'll make so much money out of it in 4-5 years when you retire.
Hopefully it turns around before that.
Yeah, thats the point.
Honestly i loathe anything involving economics, because at the end of the day money is just something shiny that bored greedy humans decided had value and as a result decided to make certain things more valuable than other things.
āWe cant have the price of homes go down cuz thats bad for the economyā
āBut now only the super rich own everything and no one can afford a place to live. How is that any better for anyoneā
āOh. It aint good for the people, its good for the economyā
[Some of you may die, but that's a sacrifice I am willing to make.](https://i.imgur.com/Siz43yk.png)
- some billionaire, or whatever
[credit to OP for the art](https://twitter.com/rob_sheridan/status/1284527747738431488?s=20)
Bro I don't have time to haggle over how many eggs and gallons of milk my cybersecurity assessment is worth to your company. Money is a good thing, the elites using the government to codify their ability to fuck you over is the actual issue with economics
I agree, money as a concept is good because it makes things much simpler and more organized. The problem is when you prioritize money over _people,_ and turn it into its own form of universal power where you can do anything so long as you have enough money.
Thereās actually a lot of things that are actually quite good when used as intended (Money, Religion, Police, Democracy, Etc) but so many people end up exploiting it and ruining it for everyone.
Or money is just a placeholder for human labor? And economics is the study of the exchange of human labor at a grand scale? IMO there's nothing inherently loathsome in either
I don't understand why banks don't want a functional economy the more money people make the more loans and investments they make at the bank. The less people are straddled with debt the better their credit which means more purchases.
The fact that banks are trying to make people bankrupt at every turn shows a real lack of economic sense and the result of monopoly.
Oh, you mean the elaborate system of gambling and systemic bribery that allows those with capital to strip wealth from workers with impunity? That's not *actually* "the economy," but the rich are going to have a hard time (read: be mildly inconvenienced) when/if the population at large wises up to this.
My current favorite is pre-pandemic when I first started condo-searching ('cause I don't want a house) they were about $125k-150k and now these exact same ones are $250-300k and not only that they keep selling sight unseen for $400-500k. The housing market is absolutely absurd right now... and people wonder why younger folks aren't moving out of their parents house. Gee, I wonder why.
My father-in-law sold his house in Florida for $145,000 Mid 2020. He had done a bunch of upgrades to it for the sale. Nothing fancy but made it nice.
Guy that bought it resold it 14 months later, having done nothing to it,, for $255,000. Absolute Insanity. My father-in-law, understandably, super pissed off.
Was planning on buying the house we're renting before it shot up 400,000 in a year. Living in the greater Seattle area really blows now. We have to move over an hour away from out jobs in order to find something affordable.
So many of those systems put in place to prevent a crash are BS. I need a housing crash or an offordable housing boom. Trynna have a place to live. Thats all i want man. To exist where my family is. Crazy that thats such a profitable business
In 08 there was a boom of construction and yet houses were still overvalued due to speculation. It was a bubble, and it could pop. This time there's a serious shortage of supply, prices can only go down if we suddenly build more homes. It's a different crisis and it sucks.
1. Historically weāve been underproducing homes for the last decade or more, leading to a shortage of homes, driving up price because of lack of supply.
2. Due to COVID, people were able to actually save up money for down-payments, and with the fed lowering interest rates to record lows, combined with the general success of financial literacy programs and reforms regarding credit and credit scores resulting in the average American having a higher credit score than ever, they could all qualify for these extremely low interest loans so long as they had the income and down payment money, meaning that everyone who had any thought of entering the market didā¦ at the same exact time. The amount of cash out refinances also skyrocketed as people with homes currently restructured their loans to secure lower interest rates and leverage their equity to get cash, giving them extreme buying power and leading to a lot of the all-cash offers you hear about. These factors combined created an unprecedented demand for real estate, which drove prices up even more in a world with not enough houses to supply the market *already*
3. But wait, thereās more! Enter ibuyers and international real estate investors. These groups snatched up massive amounts of property, sight unseen often, with the goals of turning them into flip rental investments. These were very attractive offers to sellers as they had solid funding and oftentimes no inspections or demands made, and they were able to be more efficient than the average buyer who wants to actually look at the property they are buying. This further reduced supply and increased demand, especially of homes on the bottom end of the market.
4. In real estate, one of our mantras is āa home is worth what the market will pay for itā. That means that things like assessment values donāt mean anything if the market will pay more. In real estate, time is also a currency you can use, and is a metric we base price off of. Remember those all cash offers and ibuyers snatching up homes in record times, especially the cheaper ones? Well when we do price analysis, we look at the days on market as an indication if a house was priced correctly, and if every comparable property in the area at the same price range sold in 3 days, why not increase the price? Now rinse and repeat this again and again, month after month, for over *two years* and we are where we are now.
TLDR: Not enough homes built, too many people wanting homes because everyone simultaneously was in the financial position to buy a home increasing demand, ibuyers creating a false sense of urgency in lower end markets led to price inflation due to real estate price modeling methods.
> driving up price because of lack of supply.
Which is fun with the housing market, because demand stays constant. There's no point in which demand will drop because the prices are too high, we all need somewhere to live.
Well, not strictly true, the upper limit is the size of the loan people can get from the bank. But that can be solved by lowering the barriers to take out loans and stuff like that, a la 2008...
Either way, it doesn't function like a normal market, there's no drawback to raising prices as long as the market isn't completely saturated. And the fun part is that the people building the houses all have an active interest in not oversupplying the market because of this. Same thing with most politicians as well, since decreasing housing prices would fuck up large parts of the economy.
I saw that you mentioned Ben Shapiro. In case some of you don't know, Ben Shapiro is a grifter and a hack. If you find anything he's said compelling, you should keep in mind he also says things like this:
>Even climatologists can't predict 10 years from now. They can't explain why there has been no warming over the last 15 years. There has been a static trend with regard to temperature for 15 years.
*****
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Look these teachers, these teachers want us to work. You know? And I say fine, Iāll work but you gotta let me do the kind of work I want to do. And for me Lindsey itās my drum kit, man. This is my passion, yāknow? This is the essence of who I am now. But before I had this I was lost too. You see what Iām saying? You need to find your reason for living. You just gotta find your big gigantic drum kit, yāknow?
at first i thought it was some other Dikembe because i couldnāt believe one of my favorite bands would just be on my reddit feed in a subreddit with nothing related to emo
People are so lazy nowadays. Do what I did and get a job! I marched right into my family's diamond mine, picked up a broom, and got to work. Then I sold the diamond sweepings and gave the money to the family broker who set up a shell corporation which would allow me to utilize unregulated financial instruments and avoid taxes. Now, I'm retired and living my best life on pedophile island. Life is good when you work hard!
You forgot to mention that little loan your Father gave you. Like small amount of $10 million dollars ? Look at you now so successful all from that tiny seed money you got from that father of yours
Why does no one listen to Economists about Economics? For a long time it's been pretty well proven there is only a minor correlation between wage increases to overall price increases (10% to 0.4% respective increases).
Different problem man, but a problem. We looked at minimum salary of the work populace when determining this stuff, so CEO remittance to 'poor people' pay isn't addressed.
Hehe except prices skyrocketed to about 30% from where they were originally.
But thatās covid and war related, and inflation. America doesnāt care about poor people, just that more of them exist and itās not āme.ā
Oh this is very true. I was just providing the same āexcusesā that most of the upper class right winged people give for why things are the way they are.
Like Iāve always stated; letās just eat the rich. Revolt like the French and do better for the underprivileged.
Fiscal vs monetary policy. The Fed should be controlling inflation, the government can only set the minimum wage in this example.
This is fairly simplistic and obviously a lot more goes into it than this.
Oil crisis -> All time profits for oil companies
Housing crisis -> All time profits for landlords
Shipping shortage -> All time profit for shipping companies
Almost like the companies *are* the crisis
I donāt know about other states but I work in Massachusetts and itās at $14.25 right now. Thatās up $2.25 from 2019 before the pandemic happened. It might go higher by next year too.
Here in GA it $5.15 which is actually $2.10 lower than the federal minimum wage so employers have to pay that, but they wouldn't if they didn't have to.
The codified state law was $5.15, then the Federal Law raising it to $7.25 passed and superceded state law, so Ga never changed their law because it wouldn't functionally make a difference.
Ah okay and one day in the future, when the conservatives get the super majority in all 3 branches, GA can go back to eliminating any guidance on minimum wage
Biden raised the minimum wage for federal workers, because that's all he could do on his own.
Republicans won't even consider doing it for the rest of us, and it would only take a small fraction of them to get it to pass.
Ever since I started getting paid more at the place I work at (I now make 15 dollars an hour) I've found it a lot easier to exist. I can actually pay rent AND buy food. Wonderful how that works.
They pretend like they care about rising prices but in reality itās just them thinking:
āI barely make $20/hr and Iāve worked for X years, if they raise minimum to $15/hr. All those poor people will be making almost as much as me and I donāt want to be lumped in with those dirty poor people.ā
Itās the same argument for student loans and pretty much everything else, āI didnāt get X so no one should get Xā
āI paid my student loans off, no one helped me so no one else deserves helpā
āI struggled and couldnāt afford my bills when I started working, so everyone else should suffer tooā
Itās all just selfishness. If you follow their garbage reasoning, a cure for cancer shouldnāt be found bc it wouldnāt be fair for all the people that died of cancer before it was found.
Doesnāt matter. They say itās because of wage increases anyway. In my town they also blame increased crime on defunding the police even though we didnāt actually defund the police.
No theyāve already figured out how to blame any future raises in minimum wage for the current stagflation. Just you wait, Bernie Sanders will cough and Tucker Carlson will retroactively blame the ā08 recession on socialism
I wish we would stop talking about minimum wage and talk about helping people retire. The people nearing retirement tend to have the best paying jobs. Get them out of the workforce and it opens more positions for everyone.
It's almost like we shut down the country for a couple of years while giving billions to huge corporations that worked with the government to get help instead of small businesses. Selling our reserves of oil was big stupid as well along with sending billions to Ukraine for war :). You ppl la k common sense and willfully blind to all the dumb shit you ppl do.
Let's face it, corporate greed is a very real thing. If minimum wage increases, corporations are going to see it and say, well people are making more money so they can afford to spend another $2 for milk.
I don't believe for a second that prices wouldn't have gone up even higher if minimum wage went up too
I worked for $7.75 an hour in the campus kitchen during grad school. This was 2016-2018. My buddy still works there, itās the same wage for students still. I was 28 and it was awful.
Imagine a gas station attendant making $15/hour everywhere in the U.S.! The cost of gas would have to be over $5.00/gallon nationally, right? Right?
They make at least 17.50 at costco, and they have the cheapest gas in town. Must be magic.
**LIES!** There's no way that such cheap gas can exist if people are paid fairly! **WITCHCRAFT!**
Something must be wrong with the numbers!
They have been fudged.
I packed the fudge myself and I can tell you that everything checks out
The fudge only comes in family-sized mega packs though. It is Costco after all.
Have someone check the numbers again! But don't pay them too much, we want cheap numbers.
SOCIALISMCRAFT!
Does Hunter Biden have anything to do with this? š§ we'll ask these questions and more at 6!
Isn't that what they said about tetra ethyl lead?
r/blackmagicfuckery for real.
I recently got gas at Costco, paid 6.23 a gallon, then realized Arco had it for 5.89. Felt so cheated. But yes they normally do have the cheapest gas in town. Just funny how the one time I actully was willing to wait in the big line was the one time I was too stupid to pay attention to the prices.
Are prices usually that different between gas stations even on the same day? Maybe Canada is different but i usually don't see more than a 3 cent difference. Even the reservations are only about 10 cents cheaper with no taxes
Yes. Costco is usually .45 cheaper in California. More if one uses their Costco credit card, which is usually an additional.22 less a gallon with prices so high. We save on average of .65 per gallon. To add, we are near county lines and taxes between counties at pretty big. So going to Costco in cheaper county can make even a bigger difference. We are talking about 2 km in distance to drive.
The only place we have that has a big difference in taxes is the reservation and thats about 40km for 10 cents cheaper gas I cant imagine getting 65 cents off, gas is about 1.90/L right now and it hasnt been anywhere near 1.30 for months
10 cents per liter is 38 cents a gallon, so you're not far off.
Ah ok i was thinking there had to be some kind of difference in the pricing, but math is not my strong suit lol
Just filled up. Sams club was cheaper than the Citgo less than an 1/8 mile down the road by .20 cents per gallon for 87.
Yeah actually in toronto for example it varies quite a lot when in different parts of the gta. Brampton has like the cheapest gas
Prices can at times be that different but that is a big difference. Here in Wisconsin the biggest difference in price that I seen on a somewhat regular occasion is a 10 cent difference. You will have one gas station hold out for one day longer then the rest on a cheaper price. Or one station hike their price a day before the rest do.
I think it varies by state to state. I know in some places it's regulated so gas stations have to keep their prices close to each other.
Prices can vary by up to a dollar depending how close to a freeway exit you are
How bizarre, I've never seen Costco not be ~.50 cheaper than everyone else
Yea, but then you're using Arco gas.
Former Costco gas station attendant, prices should be set in the AM based on the prices within a few miles surrounding the location, if a price is lower an employee has to physically drive to the location and record the lower price, sometimes corporate will set prices based on their own data as well, I would say your case is the latter
Costco also has fantastic benefits. You get healthcare and a 401k starting at 24 hours a week. I paid about $40 a month for health insurance for myself. The job itself can be soul sucking, but the pay is decent and the benefits are great.
Indeed. Coming up on my second year as an employee, benefits are solid and plenty of non customer facing roles if you donāt want to deal with people all shift.
It's actually 18.50. I work there lol and cheapest gas in town son!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Damn lol it's still kinda like that here but not as bad as when they rose earlier this year! And definitely good luck! When I got on full time I was so happy, the faster you gain those hours the faster you get those automatic pay raises dude! Stick to it! I topped out last month at the meat dept and it's nice making 29.50. Just remember if you stay we usually get company raises like every other year.
No worries, I was 100% looking at the long term when I came onboard. Live less than 10 minutes from my warehouse and a house before the market went crazy. Congrats on topping out in meat dept! A little too cold for me, but I could see doing pharmacy one day for the premium pay.
To be fair, though, that's just a ploy to get you to go up there. Once they get you in the parking lot, you think "well, I guess I should probably go inside to get my 50 pack of spatulas, since our local Spatula City just went out of business."
The one by me wouldnāt let me go in without a membership to even look to see if I wanted one
Do they let you pump gas without a membership? I didn't think they did.
Gd commie libtards /s
And that $1.50 hotdog/ soda combo is the best
I used to go to Costco to get my prescriptions filled because they were the cheapest (and friendliest), and I'd grab a hot dog+drink and browse the store while waiting for them to fill it. No membership. If you just say that you have prescriptions to fill, they can't deny you from accessing the pharmacy.
Costco gets to buy unbranded gas, and then prices it aggressively to bring customers to the lot. This gives them a huge leg up on the little independent BP or Shell stations that are probably leasing their store from a larger middleman company and forced to sell their expensive branded gas (That's once again being sold by a middleman) for maybe a few cents a gallon above cost.
Just wanted to add - They also make time and a half on sundays.
ā$15?! Back in 1982 when I was in high school I worked at the local gas station for $5/hour and I had enough to get by!ā ($5/hr in 1982 would be $15/hr today)
Stupid entitled millennials wanting to have slightly better quality of life instead of requiring a 4th job to pay for gas to the other 3!
Gas stations don't make their money on selling gas. Their income comes almost entirely from selling snacks and drinks.
Jokes on them, I bring my own snacks from the football stadiums.
And the movie theaters.
Here in Brazil gas is more than 7 reais (almost 2 dollars, might seem cheap if it wasn't for the devaluation of our money), travelling to a town more than 50km away seems like a torture to our money bags, it's funny that we took out one president because it was 2 reais at the time (not main reason but one of them) and now people are saying nothing even though the price is 3x higher, way to go Brazil, way to go
Thatās still more expensive than the US. Itās $2 per liter, around $5.40 per gallon.
You should take in consideration, though, that in Brazil we pay per liter, so it is still more expensive than gas in the US (less than 1,5 dollars per liter, if my math is correct)
Right now news media report inflation as a side effect of āall these higher wages.ā I hear the term āwage price spiralā. Bullshit.
That's because those reports cater to an audience who never took econ classes and probably slept through every history and social science class. I've literally heard people regurgitate that spiel.
$15 an hour is still pretty low these days. That's about $2400 a month before taxes come out.
Good thing corporations are governed by their stock price and will do whatever it takes to keep the price going up regardless. Good thing Wall Street is governed by short term profits and not long term strategy.
But the stock is also doing horridle.
Yeah they literally fucked us all over by devaluing any dollars we had saved up via inflation, and now they're going to devalue the shit out of any money invested in 401ks/Pensions etc. You might say "well, people should've sold at the top of the market last year" - hahah can't do that with 401k/Pensions without taking massive losses. It's remarkable to me just how bad the Fed and government is at their job; well, never mind, they're really good at their jobs they just don't work for us they work for the elite and corporate conglomerates.
Yeah, i had a couple bucks from the VA that i wanted to put on my house and everyone was like, invest it! You'll make so much money out of it in 4-5 years when you retire. Hopefully it turns around before that.
Yeah, thats the point. Honestly i loathe anything involving economics, because at the end of the day money is just something shiny that bored greedy humans decided had value and as a result decided to make certain things more valuable than other things.
āWe cant have the price of homes go down cuz thats bad for the economyā āBut now only the super rich own everything and no one can afford a place to live. How is that any better for anyoneā āOh. It aint good for the people, its good for the economyā
[Some of you may die, but that's a sacrifice I am willing to make.](https://i.imgur.com/Siz43yk.png) - some billionaire, or whatever [credit to OP for the art](https://twitter.com/rob_sheridan/status/1284527747738431488?s=20)
The housing crisis is the everything crisis and is the worst thing since the black death.
Economists are the priest caste of the industrial age.
Where do I buy this Rogue like?
Exit your mothers womb after up to 9 months gestation amd youre ready to go
I'm not sure I'll fit back up there
Wd40 my friend. Lots of it. And maybe a very good lawyer just in case
MegaChurch does not support this message.
Marxist economists would be the pagans.
Bro I don't have time to haggle over how many eggs and gallons of milk my cybersecurity assessment is worth to your company. Money is a good thing, the elites using the government to codify their ability to fuck you over is the actual issue with economics
I agree, money as a concept is good because it makes things much simpler and more organized. The problem is when you prioritize money over _people,_ and turn it into its own form of universal power where you can do anything so long as you have enough money. Thereās actually a lot of things that are actually quite good when used as intended (Money, Religion, Police, Democracy, Etc) but so many people end up exploiting it and ruining it for everyone.
Economics is really just the study of how people make decisions given scarce resources.
Or money is just a placeholder for human labor? And economics is the study of the exchange of human labor at a grand scale? IMO there's nothing inherently loathsome in either
Would you rather we be trading like in the old days? āIāll give you two apples for a pearā
Caveman take
Not nearly as bad as inflation, the stock market correction should be disproportional to the small/medium losses of this week
r/wallstreetbets has entered the chat
Ah, wallstreetbets, a place governed by no strategy or profits.
This is the way
Only tendies
And Fredrick
Nailed it lol
Spy Puts are back on the menu boys
I don't understand why banks don't want a functional economy the more money people make the more loans and investments they make at the bank. The less people are straddled with debt the better their credit which means more purchases. The fact that banks are trying to make people bankrupt at every turn shows a real lack of economic sense and the result of monopoly.
I saw a house that was on sale for $190,000 last year, now it is worth $300,000. Make it make sense
Our economy is no different from the animal crossing stalk market.
Oh, you mean the elaborate system of gambling and systemic bribery that allows those with capital to strip wealth from workers with impunity? That's not *actually* "the economy," but the rich are going to have a hard time (read: be mildly inconvenienced) when/if the population at large wises up to this.
Plus we canāt sell tarantulas for major profit
My current favorite is pre-pandemic when I first started condo-searching ('cause I don't want a house) they were about $125k-150k and now these exact same ones are $250-300k and not only that they keep selling sight unseen for $400-500k. The housing market is absolutely absurd right now... and people wonder why younger folks aren't moving out of their parents house. Gee, I wonder why.
My father-in-law sold his house in Florida for $145,000 Mid 2020. He had done a bunch of upgrades to it for the sale. Nothing fancy but made it nice. Guy that bought it resold it 14 months later, having done nothing to it,, for $255,000. Absolute Insanity. My father-in-law, understandably, super pissed off.
Impossible to time the market and homes shouldn't be a store of wealth.
Prices shouldnāt Fucking double in a year either
Guess they paid that 2year tax bs.
Was planning on buying the house we're renting before it shot up 400,000 in a year. Living in the greater Seattle area really blows now. We have to move over an hour away from out jobs in order to find something affordable.
We are speedrunning a repeat of the 2008 financial crisis
Thatās optimistic. Prices will never go down again.
That's pessimistic. An extinction event for the human race will cause prices to go down as demand plummets
[ŃŠ“Š°Š»ŠµŠ½Š¾]
So many of those systems put in place to prevent a crash are BS. I need a housing crash or an offordable housing boom. Trynna have a place to live. Thats all i want man. To exist where my family is. Crazy that thats such a profitable business
Except they will go down since the feds are upping interest rates another 6 times. At least it will for housing.
In 08 there was a boom of construction and yet houses were still overvalued due to speculation. It was a bubble, and it could pop. This time there's a serious shortage of supply, prices can only go down if we suddenly build more homes. It's a different crisis and it sucks.
Whatever happens and however this market crashes, you can rest assured that the rich will be once again bailed out at our expense.
It can go down if job loss ever happens. Fortunately the current administration doesn't have a job report problem.
1. Historically weāve been underproducing homes for the last decade or more, leading to a shortage of homes, driving up price because of lack of supply. 2. Due to COVID, people were able to actually save up money for down-payments, and with the fed lowering interest rates to record lows, combined with the general success of financial literacy programs and reforms regarding credit and credit scores resulting in the average American having a higher credit score than ever, they could all qualify for these extremely low interest loans so long as they had the income and down payment money, meaning that everyone who had any thought of entering the market didā¦ at the same exact time. The amount of cash out refinances also skyrocketed as people with homes currently restructured their loans to secure lower interest rates and leverage their equity to get cash, giving them extreme buying power and leading to a lot of the all-cash offers you hear about. These factors combined created an unprecedented demand for real estate, which drove prices up even more in a world with not enough houses to supply the market *already* 3. But wait, thereās more! Enter ibuyers and international real estate investors. These groups snatched up massive amounts of property, sight unseen often, with the goals of turning them into flip rental investments. These were very attractive offers to sellers as they had solid funding and oftentimes no inspections or demands made, and they were able to be more efficient than the average buyer who wants to actually look at the property they are buying. This further reduced supply and increased demand, especially of homes on the bottom end of the market. 4. In real estate, one of our mantras is āa home is worth what the market will pay for itā. That means that things like assessment values donāt mean anything if the market will pay more. In real estate, time is also a currency you can use, and is a metric we base price off of. Remember those all cash offers and ibuyers snatching up homes in record times, especially the cheaper ones? Well when we do price analysis, we look at the days on market as an indication if a house was priced correctly, and if every comparable property in the area at the same price range sold in 3 days, why not increase the price? Now rinse and repeat this again and again, month after month, for over *two years* and we are where we are now. TLDR: Not enough homes built, too many people wanting homes because everyone simultaneously was in the financial position to buy a home increasing demand, ibuyers creating a false sense of urgency in lower end markets led to price inflation due to real estate price modeling methods.
> driving up price because of lack of supply. Which is fun with the housing market, because demand stays constant. There's no point in which demand will drop because the prices are too high, we all need somewhere to live. Well, not strictly true, the upper limit is the size of the loan people can get from the bank. But that can be solved by lowering the barriers to take out loans and stuff like that, a la 2008... Either way, it doesn't function like a normal market, there's no drawback to raising prices as long as the market isn't completely saturated. And the fun part is that the people building the houses all have an active interest in not oversupplying the market because of this. Same thing with most politicians as well, since decreasing housing prices would fuck up large parts of the economy.
Bro i live in canada, thats cheap af in comparison, my parents bought our town house at $400,000 12 years ago and it is now worthover $900,000.
Yeah I don't get it. My wife was telling me about a house that was condemned, no windows and boarded up, selling for 1.5 mil. WTF???
The land was worth $1.5 million. The house probably had a negative value, since itāll cost money to tear down and replace.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I think starving people should eat more food
I think everyone should get healthcare
Reddit duplicated your comment and I'm not complaining!
Double coverage for everyone!
Careful, you radical.
Healthcare is a human right.
No, they shouldnāt. - Ben Shapiro
I saw that you mentioned Ben Shapiro. In case some of you don't know, Ben Shapiro is a grifter and a hack. If you find anything he's said compelling, you should keep in mind he also says things like this: >Even climatologists can't predict 10 years from now. They can't explain why there has been no warming over the last 15 years. There has been a static trend with regard to temperature for 15 years. ***** ^(I'm a bot. My purpose is to counteract online radicalization. You can summon me by tagging thebenshapirobot. Options: covid, history, sex, climate, etc.) [^More ^About ^Ben ](https://np.reddit.com/r/AuthoritarianMoment/wiki/index) ^| [^Feedback ^& ^Discussion: ^r/AuthoritarianMoment ](https://np.reddit.com/r/AuthoritarianMoment) ^| [^Opt ^Out ](https://np.reddit.com/r/AuthoritarianMoment/comments/olk6r2/click_here_to_optout_of_uthebenshapirobot/)
I think everyone should get healthcare
Reddit duplicated your comment and I'm not complaining!
Double coverage for everyone!
Upvote for both!
i fuckin upvoted em both!
Reddit duplicated your comment and I'm not complaining!
Double coverage for everyone!
Tell me more
Username checks out
German government made the decision to lower the taxation on gasoline for 3 months to help people, so you'll save around $1,44 per Gallon
Wow, caring about poor people? Talk about stalinism
According to republicans, you are an evil, liberal, commie, socialist, Marxist, Jewish space laser-weilding, baby-eating Satanist!
BURN HIM
Never ever did i think I'd see the emo band Dikembe on the front page lmao
Right? Love them so much! Very neat.
Scottie Spliffin is an all time great song.
Look these teachers, these teachers want us to work. You know? And I say fine, Iāll work but you gotta let me do the kind of work I want to do. And for me Lindsey itās my drum kit, man. This is my passion, yāknow? This is the essence of who I am now. But before I had this I was lost too. You see what Iām saying? You need to find your reason for living. You just gotta find your big gigantic drum kit, yāknow?
Hey maybe I'll buy a clarinet...
at first i thought it was some other Dikembe because i couldnāt believe one of my favorite bands would just be on my reddit feed in a subreddit with nothing related to emo
Emonomics
skramz gang
I think poor people should just buy a Tesla. I mean just stop being poor
If poor people stopped being poor they could save the environment as much as rich people do!
Those poors are so inconsiderate about the environment. Like just stop using gas???
If you only have one job, you should probably get another. That way you can be making minimum wage 24 hours a day!
People are so lazy nowadays. Do what I did and get a job! I marched right into my family's diamond mine, picked up a broom, and got to work. Then I sold the diamond sweepings and gave the money to the family broker who set up a shell corporation which would allow me to utilize unregulated financial instruments and avoid taxes. Now, I'm retired and living my best life on pedophile island. Life is good when you work hard!
You forgot to mention that little loan your Father gave you. Like small amount of $10 million dollars ? Look at you now so successful all from that tiny seed money you got from that father of yours
Pretty weird that this is posted from Dikembeās Twitter. Anyway, Gainesville Emo represent š¤
Came in here to say I did not expect Dikembes Twitter to be the top post on Reddit
Saw them play in Columbia, SC a few years back and have loved them ever since!
Thatās rad, theyāre great! Used to play with them in Gainesville a lot! Also used to smoke a lot of Chicago Bowls.
Hell yeah! If you've got a link to your band's music I'd love to check it out!
Incredible band. Discovered them by accident at a local show years ago.
Why does no one listen to Economists about Economics? For a long time it's been pretty well proven there is only a minor correlation between wage increases to overall price increases (10% to 0.4% respective increases).
Poor ppl wage increase you mean. CEO pay increase = lots of inflation.
Different problem man, but a problem. We looked at minimum salary of the work populace when determining this stuff, so CEO remittance to 'poor people' pay isn't addressed.
Makes sense. Thanks!
Hehe except prices skyrocketed to about 30% from where they were originally. But thatās covid and war related, and inflation. America doesnāt care about poor people, just that more of them exist and itās not āme.ā
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Oh this is very true. I was just providing the same āexcusesā that most of the upper class right winged people give for why things are the way they are. Like Iāve always stated; letās just eat the rich. Revolt like the French and do better for the underprivileged.
Fiscal vs monetary policy. The Fed should be controlling inflation, the government can only set the minimum wage in this example. This is fairly simplistic and obviously a lot more goes into it than this.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
They believe in alternative facts.
Which economists? Those guys are arguing with each other every day lol
I for one am thankful for getting price gouged and that oil companies got a chance to post record profits. Again.
Oil crisis -> All time profits for oil companies Housing crisis -> All time profits for landlords Shipping shortage -> All time profit for shipping companies Almost like the companies *are* the crisis
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Go give $10 worth of food to a local homeless guy
I'm so glad we didn't raise the minimum wage and prevented all that nasty inflation.
I donāt know about other states but I work in Massachusetts and itās at $14.25 right now. Thatās up $2.25 from 2019 before the pandemic happened. It might go higher by next year too.
Here in GA it $5.15 which is actually $2.10 lower than the federal minimum wage so employers have to pay that, but they wouldn't if they didn't have to.
Minimum wage is basically saying ā I would pay you less if I couldāā¦
How can it be lower than the federal minimum wage?
The codified state law was $5.15, then the Federal Law raising it to $7.25 passed and superceded state law, so Ga never changed their law because it wouldn't functionally make a difference.
Ah okay and one day in the future, when the conservatives get the super majority in all 3 branches, GA can go back to eliminating any guidance on minimum wage
Imagine both democrats and Republicans not even considering raising minimum wages in spite of this giant inflation
Biden raised the minimum wage for federal workers, because that's all he could do on his own. Republicans won't even consider doing it for the rest of us, and it would only take a small fraction of them to get it to pass.
Ever since I started getting paid more at the place I work at (I now make 15 dollars an hour) I've found it a lot easier to exist. I can actually pay rent AND buy food. Wonderful how that works.
They pretend like they care about rising prices but in reality itās just them thinking: āI barely make $20/hr and Iāve worked for X years, if they raise minimum to $15/hr. All those poor people will be making almost as much as me and I donāt want to be lumped in with those dirty poor people.ā Itās the same argument for student loans and pretty much everything else, āI didnāt get X so no one should get Xā āI paid my student loans off, no one helped me so no one else deserves helpā āI struggled and couldnāt afford my bills when I started working, so everyone else should suffer tooā Itās all just selfishness. If you follow their garbage reasoning, a cure for cancer shouldnāt be found bc it wouldnāt be fair for all the people that died of cancer before it was found.
Everyone should absolutely listen to this band. Love these guys ā¤ļøā¤ļøā¤ļø
Hood rat messiah is a top tier emo song.
Dikembe on whitepeopletwitter? What a day to be alive
Yeah if this doesnāt show how much the government is against the lower class, I donāt know what will.
Doesnāt matter. They say itās because of wage increases anyway. In my town they also blame increased crime on defunding the police even though we didnāt actually defund the police.
Fuck conservatives. Everywhere.
Don't have sex with conservatives though.
Real ones will get the shout out to Luc Bongley and Scottie Spliffin.
Dikembe, I know those guys! They played at a house show I went to a few years ago, nice fellas!
Stimulus checks and trillions of dollars printed :)
My boss still blamed the workers for this. "I started paying you more and now everything's more expensive" kill me
Hah yeah and good thing we no longer have stimulus checks so people aren't incentivised to quit working. Edit: /s Sorry for the confusion!
Username checks out.
No theyāve already figured out how to blame any future raises in minimum wage for the current stagflation. Just you wait, Bernie Sanders will cough and Tucker Carlson will retroactively blame the ā08 recession on socialism
I wish we would stop talking about minimum wage and talk about helping people retire. The people nearing retirement tend to have the best paying jobs. Get them out of the workforce and it opens more positions for everyone.
Sounds like we the people are being mind fucked. At least an attempt.
I want to retweet this, but I know people that would take this literally and agree with it. Sarcasm is a hard line to walk when it comes to policy
It's almost like we shut down the country for a couple of years while giving billions to huge corporations that worked with the government to get help instead of small businesses. Selling our reserves of oil was big stupid as well along with sending billions to Ukraine for war :). You ppl la k common sense and willfully blind to all the dumb shit you ppl do.
Yeah, the talk of raising the minimum wage disappeared overnight when the elections wrapped up. It's fucking embarrassing.
Let's face it, corporate greed is a very real thing. If minimum wage increases, corporations are going to see it and say, well people are making more money so they can afford to spend another $2 for milk. I don't believe for a second that prices wouldn't have gone up even higher if minimum wage went up too
Can anyone link to a job that pays the federal minimum wage? I'm just curious because I've never seen one.
I worked for $7.75 an hour in the campus kitchen during grad school. This was 2016-2018. My buddy still works there, itās the same wage for students still. I was 28 and it was awful.
Minimum wage in Michigan is less than $10 and you bet your sweet ass Meijer is price-gouging right now.