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The effect of ending the federal income tax would be the same as the government printing a bunch of money and spending it...INFLATION. That's all that would happen. Adding $$ doesn't add supply. If we want America to prosper, we need more supply of more things. It's as simple as that.
Now selling for $331,000 which was close to "peak price or all time high price" set in early 2022: https://www.zillow.com/homedetails/1741-Annabellas-Dr-Panama-City-Beach-FL-32407/121153821_zpid/
It was bought by a Sweethome Properties LLC for $217,900 within the last couple of months through a foreclosure process.
Ford Trucks getting lot rot as many are sitting for 2x the median income. Earl can't afford that.
https://www.youtube.com/watch?v=9HwDvt2eoJc
Big Multinats are losing their pricing power. Mortgage rates skyrocketing.
Let's keep it going. Trump should set Fed Home Loans BACK to 15 or 20 years, with 30 years only possible for well qualified buyers with at least $500k in income.
Make America Low Debt Again
There is also the crowding out effect.
I'm not sure why the mortgage market is setting the 30 yr rate at ~7%.
Home prices historically have increased 4% a year on average based on research by Professor Robert Shiller.
AD says
Home prices historically have increased 4% a year on average based on research by Professor Robert Shiller.
Before or after inflation? 30-50% gainz in a short period are always unsustainable fake roids, either in the gym or in the housing market.
I think its 4% a year over a long timeline like +20 years. Its not inflation adjusted , its before inflation.
to Texas to Arizona to even Kansas (where no massive growth can be attributed, nor any recent major disasters)
AD says
I think its 4% a year over a long timeline like +20 years. Its not inflation adjusted , its before inflation.
You may want to rethink that statement. Home prices going up when all else is equal is strictly due to inflation.
HeadSet says
AD says
I think its 4% a year over a long timeline like +20 years. Its not inflation adjusted , its before inflation.
You may want to rethink that statement. Home prices going up when all else is equal is strictly due to inflation.
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Yes, but isn't that 4% "appreciation" just a reflection of inflation?
AD says
HeadSet says
AD says
I think its 4% a year over a long timeline like +20 years. Its not inflation adjusted , its before inflation.
You may want to rethink that statement. Home prices going up when all else is equal is strictly due to inflation.
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Yes, but isn't that 4% "appreciation" just a reflection of inflation?
The great thing about his Index is that big jumps and crashes are directly attributable to Fed Policy. It appears the MBS buyers take the opposite view of the 50bp rate cut.
So technically a bank borrows at 4.6% and charges 7% for a mortgage plus any fees like origination fee.
I presume that the credit union and Discover use that retail money to fund credit card loans and not mortgages.
It's been a killer for insurance companies.
I'm still believing it's the utter destruction going on in downtown office rental. None of things are new or unheard of
AmericanKulak says
I'm still believing it's the utter destruction going on in downtown office rental. None of things are new or unheard of
Yeah, that too. Also our decaying infrastructure.
Yeah, that too. Also our decaying infrastructure.
After watching the above video, it's mostly just corruption.
If it "comes from the sky" it's home owners insurance and if it "comes from the ground" it's a flood.
Also of interest:
https://www.insurancebusinessmag.com/us/news/property/florida-insurers-deny-nearly-half-of-hurricane-claims-ratings-agency-says-508765.aspx
Nature is a bitch about FAFO. Choose insurance protection accordingly - if it's too expensive, you're living in the wrong place.
WookieMan says
If it "comes from the sky" it's home owners insurance and if it "comes from the ground" it's a flood.
yeah, in Florida, you have to show water damage was from rain coming down and throw the damage house structure like roof and windows, and not from the water level rising and flooding your home such as from a storm water retention pond in your backyard or from a flooded street
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.