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Since this has more to do with inflation:
https://finance.yahoo.com/news/middle-aged-millionaires-row-average-101203138.html
Average US 50-something now has net worth over $1M
The_Deplorable says
Some quick math here:
New House 3900 / Average income 1731 /yr = 1.733 years income (before taxes) to buy a house.
It's true, though. Look at those numbers:
$4.99 for a junior tray in 2021, $6.59 today
$5.99 for a normal tray in 2021, $7.69 today
$2.99 for a "Big Double" then, $3.99 today
$1.39 for a corn dog then, $1.99 today
And on and on. Prices just keep going up!
https://x.com/charliebilello/status/1749147837181358589?s=46&t=5lEEPaezr6Ic-W4Z6huZ5Q
Eman says
https://x.com/charliebilello/status/1749147837181358589?s=46&t=5lEEPaezr6Ic-W4Z6huZ5Q
Eman, I'm not a gold or silver bug, but gold is at least continuing to track with (or exceed) inflation.
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If you go back to around Y2K, then gold has outperformed all other markets (obviously not individual stock picks, but then again, we're all not Congress).
My wife bought this house in 1999 for $300k. She put 20% down. It’s worth $1,486M now. Equivalent rent used to be $1,800/month and now $4.2k. How do we calculate the ROI? This is where I find Robert Shiller’s formula is off. Almost no one buys a house with 100% cash especially a starter house. Some people put down as little as 3%.
Eman says
My wife bought this house in 1999 for $300k. She put 20% down. It’s worth $1,486M now. Equivalent rent used to be $1,800/month and now $4.2k. How do we calculate the ROI? This is where I find Robert Shiller’s formula is off. Almost no one buys a house with 100% cash especially a starter house. Some people put down as little as 3%.
ROI is based on equity of about $1,186,000 (accounts for mortgage balance and cost to sell) from the $60,000 deposit. I will assume worst case of $0 net income (i.e., revenue minus expenses equals zero).
From 1999 to present day, you earned about $19 for every $1 invested for that residential real estate investment.
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https://twitter.com/mazemoore/status/1749243622061744376
You can make a ton of money at market tops, but watch that timing.
why is the Fed holding back on cutting rates while CRE is on the verge of imploding?
“The U.S. federal government’s on an unsustainable fiscal path. And that just means that the debt is growing faster than the economy. So, it is unsustainable. I don’t think that’s at all controversial,” Powell said when asked if the national debt is a danger to the economy.
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https://patrick.net/post/1344548/2022-04-11-putin-s-price-hike-failing-administrati
Frankly, I prefer my spaceship to have big tits and not fake inflated ones.
EDIT - numbers drop:
America goes back to the 80s: Surging gas prices and higher rents push inflation to 41-year high of 8.5% as White House blames it on Putin invading Ukraine
The consumer price index rose 8.5% in March from a year ago, the fastest increase since December 1981
Housing costs, which make up about a third of the index, have escalated and show no signs of cooling
Gasoline prices soared 49% in March from a year ago as the war in Ukraine rocked energy markets
Biden's administration tried to get ahead of the dire inflation news by blaming Russian leader Vladimir Putin
But Republicans place the blame for soaring prices on 'Democrats' reckless spending and failed policies'
https://www.dailymail.co.uk/news/article-10711311/Inflation-soars-new-41-year-high-8-5.html?source=patrick.net