Comments by "worn down" (@worndown8280) on "\"Sellers Are Panicking\"" video.

@Coffeendonuts I would normally agree with you but the problem is that the Fed let the problem run to long. Everything inflated, housing, meme stocks, meme coins, the stock market, commodities. Everything. And then on top of all that you have two trillion in the overnight at the fed. There is so much money floating around that if the Fed doesnt start squeezing it out, inflation will cause a recession(Which is already to late) and then it will still have to squeeze all the money out to get rid of the inflation. They should have started raising rates in 2018, but the stock market cried and now we are here today.
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@Coffeendonuts Oh and in regards to people applying, no they wouldnt necessarily. I mean you wont even tell me what type of job is being hired for, so ill have to generalize. The thing is if a job cant find a worker it isnt paying enough. Period. Thats proof of the inflation that we are in right now. Her employer cannot raise wages to the rate they need to to hire someone because then whatever job they did would not be adding value to the business. Again, basic economics. Just like if a house doesnt sell, the price is to high, right? The market decides what the price is, not the seller. Of course the seller doesnt have to sell and the employer doesnt have to increase the wages they are willing to pay. But if they arent, is it a needed job? Id say no.
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Because its not.
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@Coffeendonuts So respectfully, I'll answer, but from your post you are either so disconnected from the average American or have a fundamental misunderstanding of basic economics. Which is why I am saying respectfully, I am not trying to be insulting. You dont understand the crippling effects of inflation. So that fuel increase which is insignificant to you, is roughly 140 a month difference. So maybe that is insignificant to you, but what about the people barely getting by. So they cut back other places. How much has your food bill gone up? If you are normal American, in 2020 the average household spent almost $7800.00 a year on food. Add the 20% price increase to food this year and... thats an annual increase of $130 bucks. So now we add 140+130 and ones discretionary income has dropped by 270 dollars per year. Shall we talk about rents or home prices? Those are up what 20% too? So people cut and cut and cut and soon then are only spending on what they must. But even then inflation doesnt let go. And then employers have to start laying people off. Mcdonalds lays off or automates, wait they already have. All the costs of their food inputs increase, so they raise prices and people go less often, leading to a death spiral in the business. This happens in all businesses with inflation and recession. Its my stagflation is so dangerous. And only one thing fixes stagflation, interest rates as high as the inflation to squeeze all the excess money out of the system that is causing the inflation. Whats that do to home prices? Its not just oh no a recession house prices fall, its the whole economy. And since the 2008 crash we havent addressed the fundamental issues. Because to do so would cause most people to have to lower their standard of living.
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@Coffeendonuts Prices went up then because incomes doubled in that same time period. Incomes cant double now. Business cant afford it. Do you know how you can tell? There are 11 million job openings. The reason these jobs are open is because they arent willing to pay enough. They cant pay enough, they cant afford to. Thats how you know the market is broken. Look I get it, you think housing is going to go up. Good, make your bet on it. But people cant buy something when they dont have the money. Thats not even mentioning that boomers own 44% of all single family homes in the US. When they die, those assets will be sold. Guess what the boomers are starting to do, die, around 29% so far. And the zoomers are to small even by half to make up that demand.
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It was fueled by free money. And now we are seeing the effects of it in the economy.
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And the vast majority of those were pre 1970s
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Most of Japan, outside Tokyo metroplex area, is extremely cheap. Some places will give you land because its only old people.
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Your assessment of the 1970s housing increase is flawed. Housing costs tripled because boomers entered the market and created families. They inflated the cost of everything, except wages. Wages stagnated. Why? Because there were more boomers. The demographics now are the reverse. Boomers currently account for 44% of all home ownership. As they die, and 29% of boomers already have, those assets will flood the market. And the Zoomers and Gen Alpha together dont match the demographic numbers of the boomers. The demand will not be there. You also state that unemployment was 9% in the 1970s. They calculated it differently then compared to now, so not a good metric to use. The only reason out unemployment is so low is due to the monetary policy over the last two years. It has altered the jobs market so much that their are 11 million excess jobs that should exist. But in the end housing can only cost as much as one is willing to pay for it. And with inflation making everything cost more, housing must adjust lower. If it doesnt the Fed will squeeze harder. And then, there are lay offs.
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@JB-ri6zp So the price of that house would have to fall, thats how higher interest rates deal with inflation. lol
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@Coffeendonuts Yes but unemployment of today, isnt calculated any where close to how it was in the 1970s. Calculated the way it was in the 70s its close to 8%.
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@Coffeendonuts congrats she works for a fortune 500 company. How does that change my statement that if unemployment today was calculated the same way as it was in the 1970s it would be 8 percent? That isnt a guess or an assumption, its math. The fact that there is no one looking for work should tell you that the economy isnt healthy and is in a bubble. An everything bubble. I bet if they paid more for the employees they would get more offers, but then you have wage inflation and you are no longer cost competitive. Thats what inflation does. It makes it not profitable to run a business. So you close it and lay people off. Doesnt matter if you are a 500 company or selling hot dogs out of a cart. But hey im just some guy. Next year im sure everything will be fine. lol
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@MHFIN Those states are laughable. It says the average debt servicing ratio is 9.3%. Its the word "Average" that is concerning. Whats the median? Because if the median household income in the US is 63k, 9.3% of that is $6774.19. Per quarter thats roughly $1700.00. You know people who spend $1700 per quarter on mortgage, credit card, auto loans, student loan debt, etc etc? That stat is a joke. It throws Elon Musk in with Joe shit the rag man.
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