Economist raises alarm over 'inevitable collapse' in US home prices

Discussion in 'Other News' started by Chinatown, Aug 23, 2021.

  1. skallagrime

    skallagrime Road Train Member

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    Im well aware that ice hits different in the southern states, texas this year is instructive in this, its not that it never freezes, but the road goes from rain, so salt and brine stand no chance, to frozen sheet pretty quick.

    Our terminal is out of knoxville, tn, i live in indiana, i prefer to just go and stay north even in the winter. Its more predictable and pleasant
     
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  3. Chinatown

    Chinatown Road Train Member

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    The one that really stands out in my mind is the time I was trucking through Nashville and some guy in a car was passing everyone. His car had a Illinois license plate.
    He had a CB radio and looked like his wife in the front and two children in the back seat. When they passed me they were staring out the windows and laughing.
    The guy was yelling on the CB about how stupid Southerners are and how they don't know how to drive. Right in front of the TA in Nashville, he spun out and crashed; looked like some serious damage to his car. Heard some good comments directed toward him.
     
  4. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    Just the opposite. It's a way for government to take over everything.
     
  5. Deadwood

    Deadwood Medium Load Member

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    The government has to pay bills too. Soldiers, ATF, Border Patrol, etc. cost money. Even if there is no hyperinflation and it stays at a 20%/year over the next 10 years people will eventually stop using it as a store of value, demand for dollars will drop with foreign governments and the same thing as hyperinflation happens but just over a longer time span. Either way it happens.

    The government could nationalize all private retirement accounts- 401Ks, IRAs, Roths, but…

    There is a little over $35 Trillion in all forms of United States retirement funds. The budget for FY 2021 is $6.8 Trillion. That solution would only last 5 years, tops. Then what? The federal soldiers trying to steal our stuff will want to be paid ‘cuz we *will* be shooting at them.
     
  6. Studebaker Hawk

    Studebaker Hawk Road Train Member

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    You cannot just drop 2 Trillion $ into an economy in less than a year and not expect certain "dislocations"
    Look at the automotive market. It isn't just because the chip shortage. The used car market is on fire.
    I was considering the purchase of a new 2021 Chevrolet Express 2500. In May GM had a $3000 rebate on the vehicle with 400 available units within 500 miles. Now there are 50 units available in the same radius, and there are dealers that are charging $6000 over MSRP for them. The absolute worst time to buy any vehicle from a dealer, new or used.
    We saw it all happen culminating in the 2008 crash. Here we go again.
     
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  7. Chinatown

    Chinatown Road Train Member

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    I lucked out and bought before the crisis hit.
    In 2019 bought a 2018 Dodge Journey SUV with 19K miles on it for $19K.
    Probably worth more now than when I bought it.
    Here's an identical one in Las Vegas for $22K today. Marked down from $27,124
    [​IMG]
     
    WCA64T SFA Thanks this.
  8. LameMule

    LameMule Medium Load Member

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    I
    $XRP to the moon
     
  9. WCA64T SFA

    WCA64T SFA Bobtail Member

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    That's a good point. TN has high sales tax on everything. Too many people are coming here though these days. Sadly, TN is being flooded by people from very expensive states (west coast and northeast).
     
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