Does it need a comment?

Posted on August 11, 2024 by grim

From Mish:

A $150,000 House in 1988 Now Costs $707,500 Thank You Fed

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

31 Responses to Does it need a comment?

  1. Jim says:
    August 11, 2024 at 8:11 am

    First!

    Sad but true, government inflation is the main driver of outrageous real estate prices.

  2. Fast Eddie says:
    August 11, 2024 at 8:26 am

    That graph is a snapshot of inflation. That’s everything from food, shelter, services and transportation to wages, savings and business costs. Stunning to look at. As for housing itself, this last four years makes the peak of the late 2010s look like a mild tremor.

  3. MyBoomer POTUSList says:
    August 11, 2024 at 9:33 am

    Thanks Reagan, for taking away rules that allowed for Wall Street manipulation like Stock Buy Backs and allowed the Health Insurance Oligopolies that we haven ow, by allowing for-profit health insurance companies, previously only non-profits or mutual were in health insurance. But at least Reagan curtailed most of the Real Estate industries tax games.

    Thanks Greenspan for starting with the 1987 crash, using the power of the Fed to bail out Wall Street speculators, lowering interest rate that led to the Saving & Loan Debacle.

    Thanks Clinton, for bringing back all the Real Estate industries tax gimmicks, privatizing Sallie Mae, Fannie and Freddie, and disabling Glass Steagal, and not prosecuting Sandy Weill when he illegally merged Travellers and Citibank, all because
    he gave a big donation to Hillary’s NY Senate campaign.

    Thanks W. Bush and Greenspan again for lowering interest rates, deregulate and allow the corrupt animal spirits to screw the future.

    Thanks Obama aka Urkle, for bending over to Wall Street and instead of doing Resolution Trust Corporation II, you bailed the bastards- which seeded the future with hate, not hope, and gave us Putin’s Orange Traitor.

    https://youtu.be/YmTzyBLNEWw?si=NYOeXxcHUVS-PHou

    “I have a foreboding of an America in my children’s or grandchildren’s time – when the United States is a service and information economy; when nearly all the manufacturing industries have slipped away to other countries; when awesome technological powers are in the hands of a very few, and no one representing the public interest can even grasp the issues; when the people have lost the ability to set their own agendas or knowledgeably question those in authority; when, clutching our crystals and nervously consulting our horoscopes, our critical faculties decline, unable to distinguish between what feels good and what’s true, we slide, almost without noticing, back into superstition and darkness.”

    “The dumbing down America is most evident in the slow decay of substantive content in the enormous influential media, the 30 second sound bites (now down to 10 seconds or less), lowest common denominator programming, credulous presentations on pseudoscience and superstition, but especially a kind of celebration of ignorance.”

    “The Demon-Haunted World: Science as a Candle in the Dark”
    Carl Sagan 1934-1996

  4. 1987 Condo says:
    August 11, 2024 at 9:35 am

    Be interesting to transpose M@ money supply on that graph

  5. 1987 Condo says:
    August 11, 2024 at 9:35 am

    * M2

  6. 1987 Condo says:
    August 11, 2024 at 9:42 am

    ** overlay rather than transpose, it’s early

  7. Fast Eddie says:
    August 11, 2024 at 9:45 am

    1987 Condo,

    We follow, no worries. :) Pour a cup of joe… not the vegetable, the coffee.

  8. Fast Eddie says:
    August 11, 2024 at 9:48 am

    Her voice is even more irritating than Hillary’s. It’s like accidentally touching a hot wire. Omg, she brings shrill to a new level.

  9. 3b says:
    August 11, 2024 at 10:28 am

    Thanks Powell for making it even worse. No wonder the young people are pissed off , and as such attracted to the extremes.

  10. 3b says:
    August 11, 2024 at 10:34 am

    Not an inch.

  11. Juice Box says:
    August 11, 2024 at 10:45 am

    So when does the AI generated deep fake of Trump using the N-Word come out?

  13. Juice Box says:
    August 11, 2024 at 10:57 am

    Brittney Griner riding the bench for the gold medal final. Is she going to take a knee again during the award ceremonies?

  14. Very Stable Genius says:
    August 11, 2024 at 11:12 am

    The system is designed by Maga for the benefit of Maga.

    So Maga got to stop bitchin about it.

    MyBoomer POTUSList says:
    August 11, 2024 at 9:33 am

    Thanks Reagan, for taking away rules that allowed for Wall Street manipulation like Stock Buy Backs and allowed the Health Insurance Oligopolies that we haven ow, by allowing for-profit health insurance companies, previously only non-profits or mutual were in health insurance. But at least Reagan curtailed most of the Real Estate industries tax games.

    Thanks Greenspan for starting with the 1987 crash, using the power of the Fed to bail out Wall Street speculators, lowering interest rate that led to the Saving & Loan Debacle.

    Thanks Clinton, for bringing back all the Real Estate industries tax gimmicks, privatizing Sallie Mae, Fannie and Freddie, and disabling Glass Steagal, and not prosecuting Sandy Weill when he illegally merged Travellers and Citibank, all because
    he gave a big donation to Hillary’s NY Senate campaign.

    Thanks W. Bush and Greenspan again for lowering interest rates, deregulate and allow the corrupt animal spirits to screw the future.

  15. 3b says:
    August 11, 2024 at 11:49 am

    Very: What about the non MAGA boomers?

  16. BRT says:
    August 11, 2024 at 12:30 pm

    It takes a special kind of idiot to kneel after the country prioritized getting you out of a Russian jail over others.

  17. Fast Eddie says:
    August 11, 2024 at 12:55 pm

    Cumella now proposes no tax on tips. Hmmm… it seems like I’ve heard that idea somewhere before. Next thing you’ll know, she’ll be for tax cuts and more drilling for natural gas and oil.

  18. Chi in SD says:
    August 11, 2024 at 1:31 pm

    Do they allow dogs on flights that are plainly not service animals?

    I sat through a six hour flight with a barking dog in a bag. Probably an animal transport bag. Not yippie type dog.

    The dog barked on the TSA line, and I shot the owner a dirty look. WTF? Gen Z jackasses. I don’t fly crap airlines so I assume some curbs on indulgences.

    The owners had a whistling past the graveyard look.

    Stupid dog disturbed two or three babies too.

    We pulled into the terminal late with everything closed. The owner had the balls to walk the dog through the terminal. I have expected it to haul off and take a crap on the floor.

    Am I just a grouchy old man?

  19. phoenix says:
    August 11, 2024 at 1:46 pm

    Capitalism.

    Pay for dog, dog gets a seat. Dog>Karen.

    Hehe.

  20. Juice Box says:
    August 11, 2024 at 2:34 pm

    A few years back had the pleasure of sitting next to a woman with her service animal dog small 20 lb dog, on a flight to San Francisco. She was nice told me she fed her lapdog some doggie Prozac or something. Dog was great sat there not a sound the whole flight. Owner however was a different story. She started crying while watching a movie about an hour into the flight and was sobbing with makeup running down here face for a few hours. Turns out the dog was her emotional support animal. All I could do was look at the poor stoned pooch and whisper “do your job dog, you have only one job, now do it”. I told my wife who was sitting next to me that line and she burst out laughing, with me sitting between these two women, one laughing and one crying I was half expecting the flight attendants to duct tape me to my chair for inflight emotional terrorism.

    United and delta allow small dogs only…and you are supposed to keep them zipped up in the carry bag.

  21. 1987 condo says:
    August 11, 2024 at 2:35 pm

    Dogs can generally fly if their crate can fit under the seat. Usually less than 20lbs

  22. Old realtor says:
    August 11, 2024 at 4:09 pm

    Harris -104 Trump +118

  23. Grim says:
    August 11, 2024 at 4:39 pm

    “do your job dog, you have only one job, now do it”

    Lol

  24. Grim says:
    August 11, 2024 at 4:40 pm

    Bought a house, private party, was a price I couldn’t say no to.

  25. Jim says:
    August 11, 2024 at 4:48 pm

    Grim,

    What type of house vacation, rental, multi, in NJ or out of state?

  26. Hughesrep says:
    August 11, 2024 at 5:02 pm

    Vance getting dragged on twitter for an old photo.

    My favorite name for him so far is Sofa Loren.

    https://x.com/midlevelmgmt/status/1822696897355895222

  27. Chi in SD says:
    August 11, 2024 at 5:27 pm

    I think it was a French Bulldog. Pushing the upper bounds of 20 lbs. more like 30-35

    1987 condo says:
    August 11, 2024 at 2:35 pm
    Dogs can generally fly if their crate can fit under the seat. Usually less than 20lbs

  28. Grim says:
    August 11, 2024 at 5:30 pm

    Nothing wrong with Vance dressing in drag. He was probably getting ready for story time at the library.

    #stolenglamour

  29. Grim says:
    August 11, 2024 at 6:37 pm

    SFH in NNJ

    Kicking off the Reno

  30. Juice Box says:
    August 11, 2024 at 6:44 pm

    Vance did lengthy interviews today on CBS, ABC, and CNN, wh9 were full of gotcha questions. However not one question about how there’s currently a US-backed invasion of Russia now happening, and not one question about how another major war could start any day now Middle East.

  31. Jim says:
    August 11, 2024 at 6:56 pm

    Congratulations Grim!

    Morris County? Renovating a house can be very rewarding , financially and seeing what you can create. Good luck with the renovation.

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