The next domino has fallen and its a big one

[Celticguy]

I am hoping the prices drop significantly, I am ready to buy some deals..

yes they will. trouble is they wont regain their previous values and unless you have cash you're going to have to chase a lot more ambulances to pay the debt service.

[Celticguy]

The government is blocking affordable housing. Why should they even be paid taxes when they're doing nothing and fucking everybody?

so the people that own them can continue to empty the govt teat.

that is the intended purpose of govt after all.

[Matt Dillon]

well to be fair had a great aunt in Delaware that had to go out on her porch to pump water from her well and whose bathroom was outdoors.

we had no a/c in the house I grew up in (got a window unit when I was a teenager (I was the youngest of 4), one TV, no cable and the dog slept outside (unless it was really cold then he got the unheated basement).

housing is nothing like the good old days so no mystery it runs us more.

how long till the people snap ? well aint that the $64,000 question ! could be as early as November. Americans do not like inconvenience much less actual pain. a lot more dominos are going to fall and pretty damn soon (pent up foreclosures that were held up by covid), new foreclosures on people in housing losing their jobs, food shortages and skyrocketing prices mean hungry people who are ALWAYS grumpy.

and I see oil has taken to rising again.

it just gets worse and worse all thanks to slow joe

I had A/C in Miami. Yeah, it came on about maybe 4x a year. Nothing like today.

I was jealous of people with jalousie windows. Had to look that up to spell right.

[T. A. Gardner]

excellent point.

and people who wonder why nobody builds affordable housing can thank the govt because its exactly this that caused it.

had a neighbor who was a slum lord but his tenants loved him because he kept his places up and would work with them in hard times. in turn they did NOT trash the properties and made for fer good tenants. thing is he was from the slums, quit school at 4th grade and made his own way so he knew his tenants and how their lives were and they knew it.

but city govt started going regulation happy and rendered it impossible to make any money running these properties.

my best friend was his grandson and he was grooming him to take over the business but he had to say no because there was just no future in it.

government is the problem, not the solution.

I'm putting an 8' long counter with cabinets under it in my basement at the moment. If I had to pay a contractor(s) to come in and do it including--

Construct the stub walls
Install the cabinets
Wire the counter for lighting and power
Drywall
Install a countertop (haven't decided on what I'll put in quite yet)
Trim and finish

I'd bet it'd run close to $10,000 in labor and materials, maybe as much as $12,000. My cost doing it myself by knowing how to do it right to code, is going to run about $3000 in materials total. People simply cannot afford to have stuff done like that unless they're pretty well off.

GC's like me to do electric for them because I'm affordable only because I need the exercise not the money. I can run permits when necessary, do the drawings and such too. That saves them a ton over having to hire an engineer and do the permits themselves. I'm waiting right now to hear back on two service panel upgrades and rewiring one of the worst do-it-yourself house / additions I've ever seen (this house is plugged into an RV-style service and one of the two subpanels in the house is ungrounded and undersized wire supplying it).

[Celticguy]

I had A/C in Miami. Yeah, it came on about maybe 4x a year. Nothing like today.

I was jealous of people with jalousie windows. Had to look that up to spell right.

my aunt and uncle lived somewhere near Cape Canaveral (uncle worked there) and I remember being so impressed (and thankful) that they had central air and a pool.

[Jarod]

yes they will. trouble is they wont regain their previous values and unless you have cash you're going to have to chase a lot more ambulances to pay the debt service.

We will see, I made a bit after the last housing recession and sold at a good time.

[Matt Dillon]

my aunt and uncle lived somewhere near Cape Canaveral (uncle worked there) and I remember being so impressed (and thankful) that they had central air and a pool.

You lucky motherfucker.

[PostmodernProphet]

maybe now I can find a roofer.......got a leak, need a new roof......everyone I call says they are fully booked for the rest of the year......

[SmarterthanYou]

government is the problem, not the solution.

good luck getting any of the statist loving democrats to believe that one. you're probably gonna get groaned hundreds of times for that

[Matt Dillon]

Bullshit. It is the interest rate that is the largest contributor to a housing crash. By the time this is over we can expect to see home mortages at 8%. This drives up rent and further adds to inflation. Your boy has fucked up everything he has touched. Hard for me to believe it is not intentional. A first year accounting student is capable of making better choices.
We can discuss what increasing interest rates do to the national debt at a later time or all you have to do is go back to what happened during the reign of the peanut farmer.

Jess, teh peanut farmer. Biden is worse and has more malice towards Americans.

[SmarterthanYou]

We will see, I made a bit after the last housing recession and sold at a good time.

is that why you approve of causing recessions? so you can take advantage of those who are down on their luck and make yourself more money off their misfortune?

[Matt Dillon]

We will see, I made a bit after the last housing recession and sold at a good time.

Biden wants to take back all of that from you. You owe it to him. How does that make you feel?

He wants your stuff.

[Celticguy]

I'm putting an 8' long counter with cabinets under it in my basement at the moment. If I had to pay a contractor(s) to come in and do it including--

Construct the stub walls
Install the cabinets
Wire the counter for lighting and power
Drywall
Install a countertop (haven't decided on what I'll put in quite yet)
Trim and finish

I'd bet it'd run close to $10,000 in labor and materials, maybe as much as $12,000. My cost doing it myself by knowing how to do it right to code, is going to run about $3000 in materials total. People simply cannot afford to have stuff done like that unless they're pretty well off.

GC's like me to do electric for them because I'm affordable only because I need the exercise not the money. I can run permits when necessary, do the drawings and such too. That saves them a ton over having to hire an engineer and do the permits themselves. I'm waiting right now to hear back on two service panel upgrades and rewiring one of the worst do-it-yourself house / additions I've ever seen (this house is plugged into an RV-style service and one of the two subpanels in the house is ungrounded and undersized wire supplying it).

sounds nice.

we were fortunate that grandfather was a carpenter (and a good one) which in his day meant he also could do masonry, electrical, plumbing, plastering etc. so dad also learned all this including the cabinetmaking skills which saved us a lot making the most of our home growing up. not to mention a lot of beautiful wooden furniture.

I regret i didnt pay more attention to him growing up. never got competent at plumbing (luckily you dont need to be so much anymore).

[Jarod]

Biden wants to take back all of that from you. You owe it to him. How does that make you feel?

Untrue. I paid my taxes on it.

[Jarod]

is that why you approve of causing recessions? so you can take advantage of those who are down on their luck and make yourself more money off their misfortune?

Recessions happen, they are not generally caused by specific things but a variety of conditions. The Trump recession ended the longest recession free period since WWII.