I think some of it was from consumer spending from Amazon.So clue me in. What the flip happened today?
It absolutely isn't a joke. I have a friend that just bought a house and when he told me how much I asked if he could afford it. He quickly answered no but that it's cheaper than renting and he needs a place. I'm looking for a place now as well and am seeing the same thing. Time to sacrifice my living situation to continue to get ready for it.Here in Socal, rent is more than a mortgage EVERYWHERE. If you own, you are LUCKY because your mortgage is significantly lower. Not a joke, btw.
It absolutely isn't a joke. I have a friend that just bought a house and when he told me how much I asked if he could afford it. He quickly answered no but that it's cheaper than renting and he needs a place. I'm looking for a place now as well and am seeing the same thing. Time to sacrifice my living situation to continue to get ready for it.
The MSM has been gloom and doom predicting a collapse or the market and the economy because of their hatred of Trump. So what happened? The underlying economic numbers are strong, the job market is healthy, unemployment is low and retailers had one of their best holiday seasons in many years. People are also realizing the government shutdown is a big nothing in the real world with zero consequences to the average Joe. Many saw a good buying opportunity today and we got the highest daily point total in history, The DOW gained back 2/3rd of its losses from last week.So clue me in. What the flip happened today?
The MSM has been gloom and doom predicting a collapse or the market and the economy because of their hatred of Trump. So what happened? The underlying economic numbers are strong, the job market is healthy, unemployment is low and retailers had one of their best holiday seasons in many years. People are also realizing the government shutdown is a big nothing in the real world with zero consequences to the average Joe. Many saw a good buying opportunity today and we got the highest daily point total in history, The DOW gained back 2/3rd of its losses from last week.
I have such a hard time seeing why people want to subject themselves to that kind of living expense.
I was out in NYC three weeks ago and just happened to look at some condos and stuff for sale in Manhatten. Let's do some comparison of what my house's value would get me there compare to what I have in Kansas City.
NYC: 500-800 square feet. 2 bedroom, 1.5 bath. 4 windows. Upgraded kitchen, master bath, new flooring. 1 Parking spot. $5k a year in taxes.
KC: 7000 square feet. 5 bedroom, 4.5 bath, 1 office. Upgraded kitchen, master bath, new flooring. 3 car garage. 3 acres. In ground pool. Built in sauna. 30 foot tall ceilings in entry way and living room. 1,300 square foot master bedroom/bathroom. 65 square foot shower. $10k a year in taxes.
I would literally have to multiply my income by 5 in order to continue my life style living in NYC.
Location, location, location. Some like the ability to walk out onto a street and have almost whatever they could want in a 4-5 block radius. As I get older that concept has actual appealed to me. I also like the idea of moving out into the middle of nowhere. LOL.
Good day yesterday and today!DOW up almost 1100 points.
I made $5k yesterday, lost like 15 in the last two weeks though. lolGood day yesterday and today!
DAMN!!! I didn't lose that much, but I lost.I made $5k yesterday, lost like 15 in the last two weeks though. lol
Agreed.I don't think someone has to know a lot about the stock market to recognize ever increasing amounts of student loan debt, credit card debt, auto loan debt, mortgages they can't afford, etc. Combine that with people being behind on retirement savings and a federal government that is beyond broke and there are a lot of bad signals out there.
Go look at your average, middle class family and they are probably up to their eyeballs in debt and couldn't quickly come up with $500 to pay to get an alternator replaced on their car.
Didnt read all this, but im sure you have some valid points.I don't need to know anything about stocks to apply statistical reasoning.
The median home price is out of the traditional metrics for affordability compared to income. Home prices have outpaced inflation by 35%. Gas has outpaced inflation by 75%. The essential costs of living are FAR outpacing inflation and FAR outpacing the average wage increase. Average education debt has soared, auto loan debt has soared, credit card debt has soared. In fact, every single essential cost of living is outpacing inflation by a staggering amount. Non-essential costs of living are also outpacing inflation by staggering amounts. On top of that people are waiting longer to get into homes and taking longer home loans once they do. Statistically people are saving less for retirement and household debt has soared to all time highs.
Explain to me how all of this is good? I realize everyone is convinced that everything will keep going up but reality is that it doesn't. In 2007 everyone was telling me I was an idiot for saving my money and not buying a house because investing in the housing market was a sure thing that would never end. Bitcoin? Same thing, it's going to soar past 100k....I was an idiot for not buying into it at 19k. Seriously, how have people not learned their lessons yet? There is a correction of some sort coming, it has to. The cost of living cannot keep blowing income out of the water and not have long term consequences. So there you have it, while I don't know anything about the stock market I can read statistics and I can spot the same bullshit arguments that are made during every bubble. It's not hard, history has a tendency to repeat itself.
No, hit me up on pm. I can walk you through it.Yes i do. Let me guess contact them and they can help me
Here in Socal, rent is more than a mortgage EVERYWHERE. If you own, you are LUCKY because your mortgage is significantly lower. Not a joke, btw.