****ing rates this high for so long isn't doing anything 60% locked in under 4 percent dual income nobody is struggling but the new buyers **** that mother ****er

Is he a jew?

Is the pope catholic?

Name don't sound it he is a bitch **** tho **** him

dingers

I love these higher interest rates. I already invested a chit load in the S&P500 to benefit last decade. Now, I can get a risk free 5% rate without unnecessarily buying more stonk. Thanks JP!

Nah, but the previous FED Chairs who are mainly responsible for fkin chit up before him are Janet Yellen, Bernanke, and Greenspan......

Lmao at economics knowledge of piss. If they lowered rates, home prices would skyrocket and middle class would be lining up at home depot to buy rope.

This.

These were the fukkers that put the J Pow in this chitty situation.

He's the goyim fall guy. srs.

Locked in one property at 2.75, and one at 3%. Feelsgoodman, my rentcels are paying the mortgage almost 2x over, feelsgoodman.jpg

Not sure I agree.

By setting rates low for a year or 2 and then raising them they basically locked everyone into their current house for the next decade since they don't want to give up their mortgage. If they dropped rates back to 0 probably a lot more houses would come back on the market.

IMO the mistake was all the massive tax breaks people get for owning real estate. Seems like every couple years they invent yet another way for upper-middle class homeowners to pay even lower taxes on the 4-bedroom house occupied by 2 people. But that's been going on since WW2.

The qualifying yearly income for a median-priced house in 2020 was $49,680.

Now it’s more than $107,000, according to the NAR.

They cant afford rope

Because there are no incentives for low income home buyers either? 08 was practically caused by that and we are doing some of the same mistakes all over again.

And which tax incentives for the upper middle class are your referring to? There are tax breaks, but they apply to everyone except once your house is over a certain value.

A really good way to make sure home prices don't skyrocket is to crash the stock market and the economy by extension. Just sayin

Powell is a Keynesian. As long as we have a Keynesian in control, expect bad chit to happen. Some points...

Powell said that his decisions won't account for fiscal policy, even though fiscal policy plays a huge role on inflation.

The Keynesians think that slowing down the economy will relieve inflation. This is false. Economic growth lowers prices. The inflation isn't coming from people spending, its coming from the government spending and printing money.

Powell seems to think that he can immediately "save" the economy just before, or right when the economy is going in to recession. This is a problem, because the fed is always several steps behind the ball. The Fed can only react, it cannot be proactive. This is why the fed always fails at controlling the economy.

You have to understand that the Fed's original intent was to prevent the government from spending and printing too much. It has become corrupt because they honestly believe they can control the economy even when the government is doing this, so they fail to step in and tell the politicians "STOP!". The other problem is that mainstream economists are all Keynesians and monetarists. Why this matter? Because they believe that the fed can fix everything and that the economy can't sort itself out. The prescription for e everything is interference, because that's job security. No one is an Austrian economist because a vast majority of their theory is that the government isn't needed for most issues. See how that works?

Its true socialism-central planning. Its a downward spiral of corruption to create problems you can fix. It's the power of deciding for hundreds of millions of people, without any consequences for bad decisions.

Stonk market crashes, wagecels lose their jobs, richcels lose a couple hundred million but then write off the capital losses and use that savings to buy the houses all the wagecels are forced to sell.

Richcels already bought the houses lol. Also, can't write off capital losses unless you also have capital gains, but I know what you mean. Even as a homeownercel I kinda hope there is a housing correction because I would love to scoop up another house.

In the same spot ded srs mirin us in 5 years when everyone is suffering and we have 2 houses each. We're gonna make it

Although my income is almost entirely dependent on interest rates and 2023 will be by far my worst income since 2015(when I started my company), I'm kinda enjoying these high interest rates.

I'm still clipping deals here and there, and it slowed the market down and is in the process of forcing out all of my competition. So basically I'm a guy with a big client rolodex sitting around here doing whatever the hell I want with zero stress.

The last handful of years were high income, but fuuuuuuuuuk it was a lot of spinning wheels to get there. Tons of wasted time, tons of worklng vacations. No time to focus on anything but work, which was often spent on deals that I ended up losing to other people(although there was so much business that I got a ton of it).

Now everything is much more chill. I wouldn't want it to be this way forever, but it's totally fuking cool for now.

Powell obviously cares about Fiscal Policy, but he has absolutely no control over it. So he controls the things he can based on his mandate. Which is to maintain 2% growth.

High rates will definitely get inflation under control eventually. But they also will fuk a lot of other things up in the process.

I'm a person who is totally fuked by high interest rates. My income is going to be like $75k this year, when the last 5 years it's been like $350k. But I'm actually ok with this if it causes markets to normalize. Everything has been fuked since like 2016ish, and if they didn't do something now it was goin to become a mess.