How much more unaffordable can it get?

From ATTOM:

Home Affordability Worsens Across U.S. During Second Quarter Of 2023 As Home Prices Tick Upwards

ATTOM, a leading curator of land, property, and real estate data, today released its second-quarter 2023 U.S. Home Affordability Report showing that median-priced single-family homes and condos are less affordable in the second quarter of 2023 compared to historical averages in 98 percent of counties around the nation with enough data to analyze, continuing a pattern dating back to early 2022.

The report shows that affordability has worsened across the nation this quarter amid a renewed jump in home prices that has pushed the typical portion of average wages nationwide required for major home-ownership expenses up to 33 percent.

The latest portion is considered unaffordable by common lending standards, which call for a 28 percent debt-to-income ratio. It also marks the highest level since 2007 and remains well above the 25 percent figure from early in 2022, when a spike in home-mortgage rates had just begun to raise ownership costs.

The worsening picture facing home buyers reflects the second shift in the U.S. housing market in the past year, coming as the median single-family home price has shot up to a new record following three quarters of declines. Those declines strongly suggested an end to a decade-long boom period lasting from 2012 into the middle of 2022.

Nationwide, the median single-family home value has risen 10 percent from the first to the second quarter of 2023, to $350,000 – one of the biggest quarterly increases in the past decade. The second-quarter median sits 2 percent above the previous peak hit a year earlier before the market stalled and prices dropped.

This Spring’s price increases have helped to push the typical cost of major ownership expenses up far faster than wages, resulting in declining home affordability.

“The U.S. housing market has done an about-face following a downturn that threatened to usher in an extended period of flat or falling prices. With that has come another blow to how much house the average worker around the country can afford,” said Rob Barber, CEO for ATTOM. “Whether this is just a temporary blip amid this year’s peak buying season or a sign of another extended price surge is anyone’s guess. But any predictions of a market demise were certainly premature – and house hunters are feeling the pinch.”

This entry was posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate. Bookmark the permalink.

60 Responses to How much more unaffordable can it get?

  1. Jim says:

    First, finally

  2. 3b says:

    Second!

  3. 1987 Condo says:

    Hat tip to Lib, used Claridge car service to and from Newark over the last week for my trip to the DR. They were great and I recommend them as well.

  4. The Great Pumpkin says:

    Honestly, I think about selling the rental in this kind of market. Just hard to find an alternative comparable cash flow. As you all know, being a landlord is a headache and I have been doing this over 2 decades already. So thought does cross my mind in times like this. Do I really want to go through another cycle?

  5. Phoenix says:

    Bill de Blasio and wife separate after 30 years: Former NYC mayor gives toe-curling NY Times interview to reveal he and his lesbian wife Chirlane are dating new people BUT will continue to live together.

  6. 1987 Condo says:

    Phoenix,

    do you and your ilk watch this guy…..?

    https://www.youtube.com/watch?v=uP-aHmTzulY

  7. Phoenix says:

    1987

    Not that I know of.

  8. No One says:

    DiBlasio and wife are both freaks. Always have been. Says something about NYC voters.
    https://nypost.com/2023/07/05/de-blasio-announces-split-from-wife-chirlane-mccray/
    Maybe they’ll watch each other while they are “dating”.

  9. Phoenix says:

    I know of a few “wives” where I work that have “switched teams” after marrying men and having children with them.
    It’s amazing what you might not know about someone you are married to.

  10. No One says:

    I’m not sure DiBlasio’s wife ever really switched teams. Wonder whether her new dates will be women or men.
    They are both gross people, the kind NY Times readers adore.

  11. Fast Eddie says:

    STAR, Idaho (AP) — Once he and his wife, Jennifer, moved to a Boise suburb last year, Tim Kohl could finally express himself.

    Kohl did what the couple never dared at their previous house outside Los Angeles — the newly-retired Los Angeles police officer flew a U.S. flag and a Thin Blue Line banner representing law enforcement outside his house.

    “We were scared to put it up,” Jennifer Kohl acknowledged. But the Kohls knew they had moved to the right place when neighbors complimented him on the display.

    Leah Dean is on the opposite end of the political spectrum, but she knows how the Kohls feel. In Texas, Dean had been scared to fly an abortion rights banner outside her house. Around the time the Kohls were house-hunting in Idaho, she and her partner found a place in Denver, where their LGBTQ+ pride flag flies above the banner in front of their house that proclaims “Abortion access is a community responsibility.”

    Above is pretty much what I’ve been saying for a while and what I’ve seen by my own observations. Classic Americans revere and respect the U.S. Flag and progressives are angered by it or resent it. Thus, the movement to like-minded locations. This trend will continue.

    https://www.yahoo.com/news/conservatives-red-states-democrats-blue-040129660.html

  12. 3b says:

    No One: As I understand it, Di Blasio s wife although married to Di Blasio still identified as a Lesbian. I don’t know what that means, makes no sense to me.

  13. leftwing says:

    “I think this guy embroidered the Judiciary [judge tiktok-ing in chambers]”

    Serious question for the forum….what is normal anymore? Is there any standard?

    Not asking from a moral, comparative to the past, or any other perspective. Purely from a perspective of trying to find the fat part of the bell curve solely for my calibration…

    I’ve spent much time over better than a year getting acquainted with many different areas in a real, feet on the ground way (ie, not just touring for a week) and with many different age groups.

    At first I was really encouraged…a “the kids are gonna be alright” kind of vibe [Phoenix’s kid co-worker types]….

    More recently though, and as exemplified by many postings here as well, I’m realizing there are some really screwed up (and not small) pockets of thought and action…and I don’t mean the political battles, ignore the red v blue info-tainment on even the high profile issues of transgender, immigration, etc for the moment. More like what causes a Harvard educated Superior Court judge to even consider entering the realm of profane, sexualized tik-tok video production in chambers as being anywhere near normative and acceptable?

    I’m thinking about the bandwidth of the manner in which individuals conduct their own lives [which of course they have the full freedom to do, and without judgment from me].

    So this query is more about me, and what I believed (thought, hoped, expected?) to be common and shared attitudes, beliefs, and behaviors….

    I certainly haven’t lived a cloistered life by any means lol (despite being brought up with whole milk, white bread flyover values). But it seems my ‘deviance’ (for lack of a better word) and that of my peer group over time was within a narrow, common bandwidth…

    I don’t know…feeling philosophical maybe, one of your recent ‘train accidents’ up there was not unknown to me….maybe my expansion into other media (Medium, Substack) is hyper algo-ing me to groups and behaviors that are really in a small minority but being wildly over represented to me…maybe as I naturally age up and away from my original and (decades of) recent roots I’m being first person immersed with strata that I saw but never really experienced…or maybe as I personally progress toward something that would be labeled as ‘not common’ and met with pushback I’m looking across the table at expressions on people’s faces I know well enough to look back at them and think (but not say) “yeah, but what the fuck about *you*”.

    So, anyway, with apologies for the rambling of this post back to the original question….is there a standard of normalcy anymore?

    For adults – of both genders – from 35 to 55?

    For youth – all genders – from 22 to 35?

    What is the level of common experience and expectation across these groups broadly? Tight cohesion? None at all?

  14. AfternoonActing Philospher says:

    Leftwing,

    I think you are having an existential crisis. So first a few things.

    Put away your sharp objects and don’t read Pumpkin (he’s huffing paint thinners with his students) or Phoenix ( his pipes are extremely backed up and he might blow any minute). This is not an afternoon fixer upper, so look up some of your classic philosophers and their school of thought, pick the one you like and enjoy their opinions with a brewski, gummy or a bud, Ex seems proficient in this area.

    I think what you are experiencing is the desolation of an atomized society that it’s under the global leadership of the most self centered individualistic generational group that has ever come about. Yes, I mean is the boomers’ fault.

    However, they react as is because they grew up in a period of forced comformity that came about because of the struggle of the Great Depressions and WW2. This can be the excuse for their behavior up to the 80’s. As Margaret Thatcher was preaching – there is no society, just people doing their own thing or Reagan’s favorite – government is the enemy. But would those preaching have won WW2, have gotten us Apollo 11?

    Since the 90’s – dare I say p3ck3r pills, this bastards have gone totally of the reservation. 90% of our problems can be traced back to Clinton’s decision making, as he took out the safety brakes put in places after the Depression and WW2. (Privatize student loans, de-regulate Wall Street + Healthcare, Interstate banking, China in WTO, Ignoring Bin Laden, etc).

    Other issues like the structural cover up of sex abuse by the catholic church, boy scouts. The Sackler’s/Purdue and other big pharma behavior. The Iraq war profiteering event, the banking bail out both 2009 and this year, and little thing like the top 5 tele-evangelist are worth at least 500Millions each, the lying sack of poop callous behavior of Trump, DeSantis, Scott and others; continually show the rottenness in our perception of daily lives

    So now you have Generations X, Y, Z and millenials feeling the brunt of the atomization and lack of involvement in a caring society and you are seeing and feeling it. More importantly, they are demoralized and apathetic – instead of angry, with fighting spirit like the boomers did in late 60’s/70’s when they asserted their individualistic point of view. In fact the only ones that are constantly making noise are the same boomers which still have the same self centered view point. They are still making those noises – but they say stuff that matches what 70 years old in fear of loneliness and death say.

  15. No One says:

    leftwing,
    Among many of the youth, use of the word “normal” is hate speech.

    I think there’s less common experience and standards among the young than ever before. One way of thinking about it – when I was a teen in the 80s, pretty much everyone in school watched the same sort of tv shows on major TV channels.
    There was a common “bad guy” – the USSR. Politicians debated ideas, but didn’t really try to create alternate realities. A lot of people got their ethics from their local church and or the national news commentators. People were able to access right or left wing counter-culture, but maybe just in some libraries, some speakers at universities, or in cities that hosted unique subcultures.

    The internet allowed for a huge surge in culture fractionalization. You didn’t have to run away from home and go to California or NYC to immerse yourself with wierdos. Media has become increasingly segmented as well.
    The national education establishment has probably shifted the standard of what is normal to up-and-coming generations, but I suspect we wouldn’t recognize it. “Libs of TikToc” is a window into what I hope is on the extremes.

    With young people, I notice an increasing tendency toward anti-judgmentalism and relativism. Coinciding with the idea that “everyone is living in a different reality”. In other words, there is no one reality, no actual truth, only perceptions and opinions. For such people, nothing bothers them, they are tolerant of anyone, except someone who judges people or says that there is one reality, one truth.

  16. Fast Eddie says:

    ….is there a standard of normalcy anymore?

    Send lawyers, guns and money… the shit has hit the fan.

  17. ExEx says:

    I spent the past twenty plus years in the classroom.
    The kids are alright. At least many of them. The others?
    I dunno.

  18. No One says:

    ExEx,
    My suspicion is the ones who duck and cover from the culture wars in schools are ok. The ones who are interested in doing their own things, getting through school without getting “cancelled”, studying to get a job, doing their hobbies or sports. They seem pretty healthy and “normal”. I guess they are all pursuing the common “American dream” of making a better life for themselves, and eventually their kids.
    The fringe kids these days, they seem a bit worse than they used to be.

    Even 25 years ago, I’d say there is no “mainstream” American. I used to argue that to immigrant in-laws, who would talk about joining “the mainstream” in America. Now I’d say it’s even less so. Maybe inside of small towns there is a “mainstream” centered around a church, or a company. But look closer and you’ll still see factions within and outside it.

  19. leftwing says:

    Afternoon Philosopher, ID yourself?

    No One, good points. Funny, part of a weird detachment I’m feeling is from the ‘atomization’ AAP mentions…for example the disappearance of the bonding over commonality of communication. It feels very weird for me to ‘select’ where I get my news and what it is for example…for my kids the idea that 6:00p was your local reality and 6:30p your national reality is downright laughable…

    The younger crowd, not really sure where I would draw that line below 40 for sure perhaps even below 35/30, seem ‘fine’….their reality is very different than anyone in that at least over 40 crowd….they do seem very accepting of others and their ‘spot’ in life, and seem to have a much more healthy approach to their own lives and identities…

    I seem to feel a degree of discontent (for lack of a better word) among many 40+ and up people in certain situations…they seem to be jammed in the middle….older persons, call it 55+ are set in their ways and really don’t care about new stuff….the ones below 35/30 again seem to (mostly) have their own set of bearings….the ones in between kind of fall into neither group….not ‘established’ enough to not care and too old to be really liberated….

    IDK, yeah, coming off the 4th and still being in relatively new environs with more than a couple recent family events on polar opposite ends of the age spectrum not to mention your too popular ‘train stop’ up there probably just catching me on an off day. Had a lot of whipsaw recently, catching all parts of the entire age spectrum across very different geographies (belief systems) in rapid succession for both my family and socially…has me questioning my own reality I guess….

    May have to start scrolling through Fast’s and Phoenix’s posts…some incredibly well written and funny, but overall troubling. I hope we are not entering a period of real inter-generational strife in this country. Too many fractures already.

    “Everybody just love everybody!”

  20. 3b says:

    Left: Thoughtful analysis on your part. As for your last comment I believe we are entering a period of intergenerational conflict, and I am not surprised, and in fact have been saying it for years. In fact it’s gotten far worse in my view since I first started saying it.

  21. Boomer Remover says:

    Eddie — There’s a very small chance you’ll meet your demise in the hands of an avo toast aficionado who drags your bloated body out to the curb and stomps you out American History X style.

    I believe there’s zero goodwill or fks to be given by subsequent generations to any future plights voices by the boomers.

  22. Fast Eddie says:

    Eddie — There’s a very small chance you’ll meet your demise in the hands of an avo toast aficionado…

    But… but… then they’ll go hungry. Who will feed them their Chex mix or take them to their play dates or write a resume for them?

  23. grim says:

    I still feel there is something to the tipping point in which generations lost the ability to define themselves, and instead were entirely typecast by earlier generations, while many of them were still in a crib.

    Started with Millennials, accelerated with Gen Z, at this point I think generational classifications are entirely meaningless, because they are now being made up in advance. It’s not a useful, descriptive methodology anymore, it’s people just making shit up. Not really surprised that younger folks aren’t necessarily trying to live up to a manufactured representation of their generation. People look at the list of generation names, see the next empty spot, and begin predefining their future.

    I think there’s less common experience and standards among the young than ever before. One way of thinking about it – when I was a teen in the 80s, pretty much everyone in school watched the same sort of tv shows on major TV channels.

    We should stop trying to predict the generational differences before we’ve even given them a chance to happen. This exercise is retrospective, not predictive.

  24. Phoenix says:

    LW,

    It’s always good to look at different points of view instead of focusing on one Californian sandal wearing, BMW driving metrosexual who hasn’t come to terms with his own sexuality yet.

    You are on the right track.

  25. Phoenix says:

    With young people, I notice an increasing tendency toward anti-judgmentalism and relativism. Coinciding with the idea that “everyone is living in a different reality”. In other words, there is no one reality, no actual truth, only perceptions and opinions. For such people, nothing bothers them, they are tolerant of anyone, except someone who judges people or says that there is one reality, one truth.

    I agree No One. But the fact remains that Boomer has become as greedy as ExEx and Fast Eddie have proven they are.

    LW Post: I hope we are not entering a period of real inter-generational strife in this country. Too many fractures already.

    Hate to tell you, but yes, you have, and it’s because Boomer has taken so much away from the youth they don’t give a rat’s azz about you. Did you really think charging them 34oo/month for an apartment ($40,800 after tax income) isn’t effing criminal?

    After what the Old Goats of America charged up on the credit card during Covid, and then came back nastier like a vengeance – there is no humility in them, they really are. (for the most part) entitled old greedy narcissists.
    I saw that behavior in the 80’s in the older cohort. It’s only been modulated, oscillated, and amplified as they are more toxic than ever.

    Gen Z has no need for you, as you have shown no need for them. You reap what you sow.

  26. Phoenix says:

    Boomer,
    Enjoy waiting 2 hours in the doctors office, and 4 in the Emergency room.

    Gen Z doesn’t care. The more you complain Karen, the more they will take videos of your entitled rants, post them on TikTok, and laugh at you as they text it to all their friends using their thumbs-instead of Boomer texting with your bony arthritic index fingers.

    Yeah, they notice that detail. And laugh at you for it.

  27. Phoenix says:

    A little musical humor for the subject:

    https://youtu.be/qJKzca4Qgo8?t=4

  28. Phoenix says:

    Boomer greed doesn’t go unnoticed……

    The growing numbers of retirees create a heightened demand for health-care services. The industry is expected to create more jobs than any other over this decade. But care shortages already exist and are likely to get worse as the number of people needing care increases and the number of available caregivers stagnates or shrinks.

    The cost of long-term care in an aging society “keeps me up at night,” said Stanford economist Gopi Shah Goda.

    America squandered its wealth on endless wars. America gave its manufacturing to China. America ability to fund SSA and Medicare is by the burden on the backs of the poor who pay out FICA from 100% of their income.

  29. leftwing says:

    “For such people, nothing bothers them, they are tolerant of anyone, except someone who judges people or says that there is one reality, one truth.”

    I see this. It’s refreshing actually. For the most part…I guess except for the rabbit hole I ran down where there has to be some boundary. Very far out, but some?

    What’s the thumb/finger reference? Showing my age, I don’t get it.

  30. Phoenixs says:

    LW,
    They do judge the older population. It’s amazing how much fun you can make of someone with one picture/video and a simple snapchat to the entire staff where you work. They are experts at mock bullying.

    Seen it hundreds of time. They have probably done me as well…

    Also how batting one’s eyes, or acting sweet for a minute, can get physicians to buy 20 young ladies a drink after work-or lunch, or anything else they want.

    They can manipulate so well…. these guys don’t even see they are being taken for a ride- I’ve watched them gang up on managers-come up with 3 different angles-time the visit to make it look like they are not complicit- to manipulate and get what they want, be it time off, or whatever.

    Communicate, collaborate, then execute with swift efficiency. Most of the older generation don’t even know what hit them. Their arrogance makes them think they are impervious.

  31. grim says:

    Just wait until the younger generation votes away your healthcare and tax benefits.

  32. Boomer Remover says:

    In a Edgewater, NJ FB group earlier today, an older woman posted that it is nice that older folks will get a property tax reprieve as they have been unjustly “subsidizng those with school aged children.”

    Her FB profile proudly showed her four children (and who knows how many grand kids).

    Unbelievable.

  33. grim says:

    Not such a stretch that public sector defined benefit pensions receive a cost of living adjustment as a result of relocation to a lower cost area.

  34. Phoenix says:

    Believeable. I corrected it for you.

    Boomer Remover says:
    July 5, 2023 at 6:06 pm
    In a Edgewater, NJ FB group earlier today, an older woman posted that it is nice that older folks will get a property tax reprieve as they have been unjustly “subsidizng those with school aged children.”

    Her FB profile proudly showed her four children (and who knows how many grand kids).

    Unbelievable.

  35. Phoenix says:

    grim says:
    July 5, 2023 at 6:01 pm
    Just wait until the younger generation votes away your healthcare and tax benefits.

    Yeah, they are aware of how you are taxing the hell out of your future. Of course, most I work with are educated, they aren’t day laborers.

    Boomer isn’t exactly hiding the greed, they are loud, outspoken, narcissistic and arrogant about it. Throwing whatever leverage against the youth to take whatever is is they want or feel they deserve.

    Boomer may have the watch, but Gen Z has the time…….

  36. The Great Pumpkin says:

    Why I was telling this blog to get on Btc or ETH. I chose ETH. Writing is on the wall people. Call it a scam or wake the f up.

    “Larry Fink today said he hopes SEC “looks at their ETF filing as a way to democratize crypto and make it cheaper.” Also says bitcoin is international asset, new gold. Seems all-in, wants to work w regulators to get approval. altho unsure of timetable. Via Fox Business”

  37. 3b says:

    Grim: If one receives a state pension, it’s only fair and reasonable that if they move to a lower cost of living state their pension is adjusted accordingly.

  38. The Great Pumpkin says:

    On this blog, I have called the housing boom 10 years out. I called FAANG when BRT called me out and said what to invest in mid point last decade…i said to buy as much apple and amazon that you could afford.

    Wtf have you done on this blog? Oh, right, you have a superior grasp of grammar that you use to tell yourself that you are smarter than people like me. This teacher was screaming to buy Wayne or Fairfield as last great values in north jersey from 2017-2019. Do something like that before you claim superiority in terms of intelligence.

    AfternoonActing Philospher says:
    July 5, 2023 at 1:14 pm
    Leftwing,

    I think you are having an existential crisis. So first a few things.

    Put away your sharp objects and don’t read Pumpkin (he’s huffing paint thinners with his students)

  39. Juice box says:

    Re:” Not such a stretch”

    Eh? State we live in is controlled by 1 party. Unless there is some kind political revolution there will only be more increasing taxes, whatever the Millennials want they need to organize. I don’t see it happening
    Anytime soon, case in point the latest state budget.

  40. Hold my beer says:

    Boomer Remover

    When I had the misfortune to live in Livingston, a neighbor had 3 kids, one of them a special needs kid costing the school system over 40k a year at the time. She complained about the property taxes. She knew she had a special needs kid, moved to Livingston for the school system, then popped out two more. She was costing the district at least 70k a year.

  41. The Great Pumpkin says:

    And for all the hate I get for my ark DCA at the top strategy. Would be a winner right now. You would be up money. Only reason I abandoned that strategy was to get into DNA and ETH which I thought had more upside long-term based on pricing at the time.

  42. The Great Pumpkin says:

    All driven by the seven deadly sins. Not much different between generations besides pop culture and tech.

    Juice box says:
    July 5, 2023 at 7:37 pm
    Re:” Not such a stretch”

    Eh? State we live in is controlled by 1 party. Unless there is some kind political revolution there will only be more increasing taxes, whatever the Millennials want they need to organize. I don’t see it happening
    Anytime soon, case in point the latest state budget.

  43. Phoenix says:

    86 degree day- 20 year old Toyota Camry.

    A/C like a refrigerator. Literally. You just don’t see quality like that anymore.

    Amazes the hell out of me. I have no doubt the A/C on a Bimmer would have died 12 years ago.

  44. Juice Box says:

    Pumps – re” “for all the hate”

    Last time Pumps, no hate only love. You are here for a reason and it is not to be a broken record. You can pimp what ever you want just don’t do it obsessively, as it is beyond annoying so anything you say that may have any resonance is lost in the noise.

    I have been an attacker and attacked more times than I could ever count online since the 1980s bulletin boards. Grow a thicker skin it’s not personal!!

  45. Juice Box says:

    BTW – Gotta love Zuck going for the jugular on Elon (beside the fight that may never happen)… Literally skeleton staff at twitter and a part time CEO, and lots and lot of angry left side of the spectrum.

    Best move in years for him. Stock might make near $400 again.

  46. 3b says:

    Juice: There will come a point where you simply can’t tax any more, as there won’t be enough able to afford it. I would think we should be close to that point, but not there yet. How long can they keep the charade going.

  47. Phoenix says:

    Juice,
    There is a chode on here that makes things personal all of the time.

    But yes, Pumps, either by accident or skill, you have been correct about some things you don’t get credit for.

    Grow your skin thick, long and hard. And if that chode bothers you smack him in the face with it.

  48. The Great Pumpkin says:

    I get it, I do. I will try to not suck the life out of the blog.

    Think I have been getting control of my OCD. Don’t wish this chit on anyone. It can be a super power, but it also takes over you. Just trying to grow and be a better better person along the way. Have to admit, i came a long way from when I started posting on this blog.

    Juice Box says:
    July 5, 2023 at 8:07 pm
    Pumps – re” “for all the hate”

    Last time Pumps, no hate only love. You are here for a reason and it is not to be a broken record. You can pimp what ever you want just don’t do it obsessively, as it is beyond annoying so anything you say that may have any resonance is lost in the noise.

    I have been an attacker and attacked more times than I could ever count online since the 1980s bulletin boards. Grow a thicker skin it’s not personal!!

  49. The Great Pumpkin says:

    I will never get credit for skill, but I swear it was. OCD superpowers. F’ing used my brain power over and over on chit the avg individual and thinks about once a year if that. I obsessed over it.

    I still take a step back and can’t believe how right I was on dead end calls at the time. I never gave up because i knew what I knew. No expert or headline was going to tell me otherwise and I was better off for it.

    “But yes, Pumps, either by accident or skill, you have been correct about some things you don’t get credit for.”

  50. Juice Box says:

    Pumps – You are a successful person in life. The former ball boy who chased skirts on the courts and once delivered mail is now educating the next generation of youth. You have a nice home and wonderful family this we know and for sure, the Polacks like you and Grim are good people.

    Celebrate who you are and not worry. Life is too short…

    As far as OCD yes we know, how about a code word, to remind you? I recommend PANCAKES!!!

  51. The Great Pumpkin says:

    That’s why I didn’t abandon my DNA obsessive position. I respect lefty and lib, but I learned from my past mistakes. Just because they are smart and experts, doesn’t mean they are not seeing it from the wrong perspective.

    Very few people make serious money. If everyone is agreeing with you and calling you smart, you are f’ed. True genius gets destroyed and mocked. Tore to pieces. Most don’t understand and will hate you for it.

  52. The Great Pumpkin says:

    Thanks, Juice. Thanks for putting up with those truly annoying years where I spewed my real estate and stock obsession during my 30s. I was still growing big time as an individual.

    This blog has seen me go from young social!st to capitalist. Still sounds so good in theory, but I understand human nature now after 18 years of teaching. Was why I took such a contrarian position on remote work. Most people I have come in contact with can’t be trusted. Understand this or learn the hard way.

  53. The Great Pumpkin says:

    I am going to try and keep this as simple as I can.

    AI growth will overcome all the negative chit out there. The growth of AI amplified through the economy will actually drive down debt, it will be so strong. Invest in something tied to it….and/or BTC/ETH.

    Aka we are in the beginning of a growth in productivity unseen in human history. Yea, chit about to get real.

  54. Hold my beer says:

    Pumps

    If you sell your rental, what will you do with the proceeds? Fill up your kid’s 529. Roll it into another property?

  55. The Great Pumpkin says:

    And, I stress, this is my biased perspective. Maybe AI is a fluke. I just see it driving growth exponentially and acting on it.

  56. The Great Pumpkin says:

    Hold,

    When you bring taxes into the equation…hard to justify selling. Just not going to hit the same income level without increasing risk. Sucks. More than likely, because i am still young, slave for another cycle. It just pumps income at this pt, since I survived so many tough cycles. Pretty much like winning 1 thousand dollars a week scratch off after taxes(prob better, just using as an example)

  57. Chi in LBI says:

    Meant to post this morning. Keep an eye on the Ten. Bubbling up at 395-area. The move through 390 was relevant.

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