So your argument is that 1/2 the country makes less than 40k in a year? Depending on where you live that could be livable but it isn’t in most urban areas. With two incomes at the median you would be just fine in most urban areas……unless you have kids
So your argument is that 1/2 the country makes less than 40k in a year? Depending on where you live that could be livable but it isn’t in most urban areas. With two incomes at the median you would be just fine in most urban areas……unless you have kids
Then I would advise them not to live in urban areas or have kids. And no, it’s not my argument, it’s BLS’s statistic. I know the easy argument is always to blame ‘the system’, but that’s never going to advance anyone’s situation, so it’s entirely more practical to advocate personal development and responsibility.
Seriously tho, any more economy opinions?
I think there’s going to be a spending boom starting as soon as COVID’s end is in sight. Lots of people are deferring spending because of job uncertainties. When the end is in sight, that will open up the spending for at least a year.
I want a new garage, but no way am I signing on to that kind of an optional spend until all this is over and I know employment and customer spending at my business will both continue.
I talked to the owners of the resort we stayed at last week and they said they had big renovation and upgrade plans that all went on hold when COVID hit. They are now hoping to pull the trigger in fall 2021 instead of this fall. I think there is a lot of spending that will go like this.
Grouse
I don’t know. I’ve seen a lot of construction and renovation going on with businesses that were or are closed because it made sense since they were closed. And construction is essential work, so it never shut down.
I’m having site prep work done for a timber frame building. Site prep this fall building goes up next season. Both the building guy and dirt work guys are extremely busy according to them and booking well into next season. Two new houses are going up in spring next to us at the lake.
The only reason I’m able to get the site prep work done this year is because I know the guy pretty well and he will squeeze me in. I haven’t locked in on the builder yet still waiting for more quotes and I keep tweaking what I want. But if I don’t get him locked in soon it may have to go beyond next season.
With that being said when this Covid thing comes to a end if it ever does that is there will be a spending boom on top of what is already happening.
So half the people expect a recession that makes 1929 look likes childs play, the other half expect a spending boom.
So half the people expect a recession that makes 1929 look likes childs play, the other half expect a spending boom.
Isn’t that the country on any subject lately?? No middle ground on anything, way right or way left.
I’m not sure it’s a fair argument for anything construction related. Summer is always busy time and with the slight delay this spring with some residential folks it only backed stuff up for rest of season. Many of the houses in the cities here are at that “turnover” period and the number of GCs aren’t keeping up with demand, worker shortage that was well recorded before any of this. Nice to see everything still flowing nicely for us trades guys but not sure it’s an indicator of the future.
How’s home buying this season?
How’s home buying this season?
Crazy, it is the best seller’s market in my 19 years of buying houses, and the craziest market our realtor has ever seen. We actually just bought a new house, after losing out on a couple others that were priced high imo, and they all ended up selling for way over asking. Our current house had 21 showings and 8 offers in 2 days, every offer was above our asking price, and we ended up selling for 26k over asking. And I was worried we were asking too much…Couldn’t be happier with how it worked out for us!
What defines a crazy market? Is it not many homes being listed? Ones that are are being priced high? Are realtors seeing typical home sale numbers over the course of this year?
Think thats awesome you were able to strike while the iron is hot, just curious to more details on the actual market.
<div class=”d4p-bbt-quote-title”>riverruns wrote:</div>
Apple split 4/1. Pretty good split!How a stock split is like breaking a $20 bill
Suppose you have a $20 bill and break it into four $5 bills: You don’t have more wealth, just more bills. The same is true of a stock split, Stock splits “are cosmetic,” “They don’t say anything about the fundamentals.”
splits this way are typically bullish. for some companies its in preparation for new good news that they expect will affect their price. I think there is reason to be optimistic about an Apple split. Their stock announcement alone bumped the stock 15%.
there is really no way to compare what happened in 1929 to what happened this year. almost everything about our country and our money system is fundamentally different. And in most ways its better, but in some ways you could argue its not. losing the gold standard allows our gvt to go to war without its populace’s say so. Before they needed the populations approval to fund it, through war bonds and such. We rationed food and all that noise because it was something we believed in.
in the 40’s we ushered in quantitative easing en mass which can help in these crisis’ but also is not really managed by the people anymore.
the stock market is not the economy and i know we all are like “is this sustainable” but….
the S&P500 consists of 500 companies. only 100 of them are in the green YTD. And the majority of the positivity in the S&P500 is very top heavy. FAAMG stocks represent 24% of the index and their 37% weighted return as well as a few other big players like paypal, ebay, home depot, netflix and nvidia are basically why the inded seem to have recovered almost wholly and the NASDAQ is soaring. the others in the green just aren’t that much in the green or have that much index weight to really matter. the other 400 stocks that are still losing YTD hopefully can get out of that red if we control this thing and if so the stock market can continue to grow and I think pulling out now is likely not prudent. I think there will be more dips along the way here and there as the market is very volatile and fickle.
there is really no way to compare what happened in 1929 to what happened this year. almost everything about our country and our money system is fundamentally different. And in most ways its better, but in some ways you could argue its not. losing the gold standard allows our gvt to go to war without its populace’s say so. Before they needed the populations approval to fund it, through war bonds and such. We rationed food and all that noise because it was something we believed in.
in the 40’s we ushered in quantitative easing en mass which can help in these crisis’ but also is not really managed by the people anymore.
1920’s: rapid expansion, market all time highs, buying stock with easy credit – followed by production decline, rising unemployment, overvalued companies, proliferation of debt and excess debt that could not be liquidated.
But it’s different this time, right? That’s the universal lie we tell ourselves.
Leading up to 2020: rapid expansion, market all time highs, buying stock with easy credit – followed by production & service decline (shutdowns), unemployment through the roof, balance sheets leveraged to the hilt & full of “goodwill value”, proliferation of debt, hiding the problem with “forbearance” agreements to keep the loans & mortgages on the books as performing (aka overvalued).
The more things change the more they stay the same…
What defines a crazy market? Is it not many homes being listed? Ones that are are being priced high? Are realtors seeing typical home sale numbers over the course of this year?
Think thats awesome you were able to strike while the iron is hot, just curious to more details on the actual market.
There isn’t a specific metric for that, the one most commonly sited is days on market to sale. Overall inventory #’s are definitely down a significant amount, so it will be interesting to see if that affects prices next year or not. We certainly lucked out, as we are doubling the size of house (and garage, my requirement lol) for an 80k difference in price, and only moving 7 miles west from Chaska to Carver.
http://maar.stats.10kresearch.com/docs/hso/x/report?src=map
<div class=”d4p-bbt-quote-title”>hnd wrote:</div>
there is really no way to compare what happened in 1929 to what happened this year. almost everything about our country and our money system is fundamentally different. And in most ways its better, but in some ways you could argue its not. losing the gold standard allows our gvt to go to war without its populace’s say so. Before they needed the populations approval to fund it, through war bonds and such. We rationed food and all that noise because it was something we believed in.in the 40’s we ushered in quantitative easing en mass which can help in these crisis’ but also is not really managed by the people anymore.
1920’s: rapid expansion, market all time highs, buying stock with easy credit – followed by production decline, rising unemployment, overvalued companies, proliferation of debt and excess debt that could not be liquidated.
But it’s different this time, right? That’s the universal lie we tell ourselves.
yes its completely different, i literally just explained why. today the Fed is more mature and has the tools to inject liquidity into the economy. Also in 1929 the gvt cut spending which we now know was a huge mistake because so did everyone else. in 2020 the gvt is spending TRILLIONS to stimulate the economy.
Also the stock market was kind of the wild west and not even a common thought by the population at large. only like 1% of the population was even invested in the stock market. Today its matured to a point where 50% of the population is invested in the markets in some way and we have much more real non margin invested money in the market. the S&P 500 dropped 90%. 2020 it dropped 34%.
All that said it could still get really bad. But there are lots to be positive about just a few short months after we started shutting things down.
Either way I bet the fish still bite 
Houses are selling without even hitting the market. People are fleeing Murderapolis and her sister city heading for the burbs
Either way I bet the fish still bite
Heck yeah. fish don’t care what the stock markets doing.
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