The Divide between the rich and the poor.

a reply to: Edumakated

Ruth Chris steakhouse, Cowboy Ribeye runs $48, sides are $20 per. That's the min, $68, not including Drink, Tip or Taxes.

So, about a $100.

a reply to: strongfp

Do you own a house?

If so, how is housing prices rising hurting you?

My house has gone up about 5X since I bought it 18 years ago. Think I feel bad?

Wanna make a cash offer?

I am retiring soon and moving to my other house in Montana. That extra money will allow me to do some upgrades.

Why do folks go all negative when others make a profit off real estate? I bought in early, made some profit, and now you want to blame - who?

Called being a good investor in the free market.

Stop crying. You could have bought property 18 years ago.

a reply to: Havamal

You just proved my point. And yes, I do own a home.

But if I was in this situation right now, as a first time home buying. I would never be able to get into this market. Your mentality just literally (as in, your own words) proved my point that the divide is there, and you don't care because you're in it already. If you sold your home, you'd be able to get another. THAT WAS MY WHOLE POINT. Thank you for outing yourself as another selfish virtue signaler tho.

Also, the housing market is not a 'free market', 2008 proved that, and what's going on right now clearly piles on even more evidence.

100 per person at a stake house?

I don't buy it, what could they possibly order at a stake house to run up a 100 bill for one person?

There is a great high end stake house down the road from my house. In an area of the country with one of the highest costs of living. Great steak, thick cuts, juicy and perfectly marbalozed ... and expensive. I actually argued with my wife the first time we went and I saw the menu. But after eating the food I was satisfied. It was expensive but well worth it. Can't go every day, but its a good place to treat ourselves once and a while.

I probably could rake up over $100 just for my self; but I'd have to get a stake, a whole appetizer for myself, and several drinks. Just about as much food and drink as a fat guy like myself could consume in an hour or two. My wife could never keep up. My mother in law would get a potato.

This stake house with a $100 min per person just to talk in the door must be running some kinda gimmick were they want only the more wealthy among us to go. Id bet this price range has nothing to do with covid or inflation.

a reply to: strongfp

I guess you are young.

In the 1980's interest rates for a house were plus 15 percent. Young folks bitched (boomers) that they would never afford a house.

My first house in the late 80's came with a 7 percent 30 year rate, and that was a good deal.

Things change, but crybabies gonna cry. Crying now about price, not interest.

Now it is folks crying that houses cost too much. Wait.

Then wait. I sold my last house in 2004 and made a big profit. I bought my new property that year. I did the exchange because of my employment. Not to do some super secret conspiracy to screw over people years later.

What is wrong here is that you are putting crap on me for making a profit.

Hey, American here! Free market. Suck it up.

Housing market changes. You think I am in control of it?

Keep on cyprying kid.

originally posted by: strongfp
a reply to: Havamal

You just proved my point. And yes, I do own a home.

But if I was in this situation right now, as a first time home buying. I would never be able to get into this market. Your mentality just literally (as in, your own words) proved my point that the divide is there, and you don't care because you're in it already. If you sold your home, you'd be able to get another. THAT WAS MY WHOLE POINT. Thank you for outing yourself as another selfish virtue signaler tho.

Also, the housing market is not a 'free market', 2008 proved that, and what's going on right now clearly piles on even more evidence.

I don't think the situation is as drastic as you make it sound. The housing market has its ups and downs. Now might not be a good time for new home owners but tomorrow might be.

I bought my first house at the end of 2006. The last time the market was supper hot. I had no equity, and it was hard, I had to buy a house in a much less desirable area than the one my blue collar parents lived in (where I was moving from)... and to add insult to that injury no less time than after making my first few payments the housing market collapsed and my home lost more than a third and close to half its value.

My younger brother, who has the same station in life as me, a year later was able to buy his first home in the more desirable area for less than what I paid for my house.

It wasn't until this year that I was able to sell my first home and buy a nicer house in a much better area thanks to the high market.

Sometimes your ahead, sometimes your behind. The game to maximize the times when your ahead and don't give up during the times you are behind.

a reply to: dandandat2

You get it.

a reply to: dandandat2

I like how everyone who purchased a home or had the ability to prior to 2008 are trying to explain what it's like nowadays. You're out of touch with it all.

House prices for example in the general area of the province I live in went up 40% in less than a year. Is that normal?

On top of that the feds print ridiculous amounts of cash making people who were saving for who knows how long watch their savings turn into worthless cash. The markets are not healthy, even Munger has pointed out that at this rate it will almost 20 some odd years for inflation to be leveled out, and all realized gains will be very minimal. But somehow housing is exempt of that? All over the world?

a reply to: Havamal

The housing market isn't a free market. You're also talking about housing markets prior to 2008.

People who are just getting into the markets now started their careers roughly around that time period, watched their wages stay stagnant and governments push them back further and further with regulations, in cahoots with banks to bar people from affordable housing. Again, only those who were in the game are able to play, for the most part.

a reply to: JAGStorm

That's because everything already described in other posts creates a vicious cycle. The wage floor is still the floor even if it's artificially raised. All you do is then force everything else to increase too.

Try reading Thomas Sowell's economics texts. He makes the subject very accessible.

a reply to: strongfp

Look at what Atlanta is doing in terms of zoning changes. You have corporate property interests like Blackrock buying everything they can betting they can build rental units on those properties. They bid everyone else out. They're aggressively after our property.

a reply to: strongfp

Sounds like you are crying about your situation, and trying to blame it on society or other fotces.

Ok, why not just take responsibility for your life and situation?

When I was younger and did not have enough money (which is what you are crying about), I figured out how to make more money.

Pretty simple.

Maybe go to night school and get a degree?

Maybe start your own business?

Get a second job?

You know the list.

Suck it up and accept that this is the world you live in. Stop crying, and make your life better. No one wants to hear a crybaby moan.

a reply to: Havamal

Are you always this vapid and annoying?

But, let me get this straight. It's not societies fault, but you just blamed the 'markets' and suggesting they are 'working as intended', that is society, the markets are how societies 'work'. If the markets are fixed, broken, and work only in favor of a certain demographic? Are you seriously going to blame the individual because they, what? Aren't working hard enough?

You also are seemingly tunnel visioned and inconsiderate enough to not even read peoples comments, I have property. And I have gone to school and I have worked my way up in my career, and I have switched careers. But I am also not a blind idiot to the current status of the markets, which you clearly are.

Check yourself old man. I was in high school 18 years ago.

a reply to: ketsuko

It's not just the big boys like Blackrock, here in Canada the government is putting forth Bill C 145, which allows for real estate entities to incorporate, giving the middle men and those that control the sales and purchases of real estate the power to work under state control per say. They can now start acquisitions of smaller real estate entities.

Also this is happening more and more as well:

‘It’s wrong on all possible levels’: Critics slam development group buying $1-billion in single-family houses for rentals

www.thestar.com... ily-houses-for-rentals.html

But hey, tHe MaRkEts ARE FREEEEE

a reply to: strongfp

It's Agenda 21.

You'll own nothing and like it. This is leftist policy you're whining about. Stop voting for it.

a reply to: ketsuko

I didn't even vote in federal elections the last two times... They're all liars.

originally posted by: strongfp
a reply to: dandandat2

I like how everyone who purchased a home or had the ability to prior to 2008 are trying to explain what it's like nowadays. You're out of touch with it all.

House prices for example in the general area of the province I live in went up 40% in less than a year. Is that normal?

On top of that the feds print ridiculous amounts of cash making people who were saving for who knows how long watch their savings turn into worthless cash. The markets are not healthy, even Munger has pointed out that at this rate it will almost 20 some odd years for inflation to be leveled out, and all realized gains will be very minimal. But somehow housing is exempt of that? All over the world?

You obviously didn't read what I wrote. I am painfully aware what a hot market is like and how it can affect people.

That 40% increase in housing prices you lament is the 40% I lost in the market in 2007. Thats is a loose over the 150k mark, close to two. I was wishing every day since 2008 till now for that 40% you are worried about. In fact all said and done I walked away on the sale of my first home in December with a loss when you factor in closing costs involved in buying and selling. That means I gained no equity in the owning of my home for 15 years.

Yes its a high market now; yes it was just as high in 2006. But in 2008 it was an awesome market for new buyers, maybe in 2024 it will be again.

a reply to: DBCowboy

This is really going to put a crimp in my lawn furniture budget.

I think the high minimums are a racist policy designed to keep minorities out of their restaurant.

Where's the protests?