Uggh, the news, I wonder if we all just stopped buying stuff then the fed would cut rates?

[hrhdhd]

Inflation is not high, it is 3.5%, that is what it is. Its not moving. What we do have is a massive housing shortage which is not being helped by high mortgage and borrowing costs

From NerdWallet: "A 3.5% inflation rate may not seem like a lot, or as much as the price changes you've noticed at the grocery store. But to put inflation in context over the last few years, consumer price inflation rose 19.6% between January 2020 and January 2024, and particularly high housing costs persist."

 

[barkley]

My first home was bought at 13% interest, I refinanced at 8%.

our first home was around the same rate-we were thrilled a few years later to refi in the high single digits, thrilled again when a few years later we had eeked up just enough in equity to eliminate PMI.

 

[tvguy]

#1 We bought gutters for our home a week ago. 15K and a national firm. They would come the next day! We scheduled for next week. They can not be that busy, just saying...

#2 In NH back in the 2000's there were many good paying manufacturing jobs that went overseas. Our neighbors, nor my husband or I were expecting entire plants to close. Many of them high tech. NH is not a big state, so any manufacturing plant is a huge loss, not to mention the ripple effect. People took any job they could get and skilled workers were bagging groceries to make ends meet. I saw hard working people lose their homes and they were devastated.

Have some mercy, please. It was a crisis and different situations played out in different areas. Final word from me with all due respect.

Wow. My neighbor had the gutter ripped off his house February 3rd. Over two months later he is still number 50 on the waiting list with the gutter company. They are all tied up with new construction here.

 

[tvguy]

our first home was around the same rate-we were thrilled a few years later to refi in the high single digits, thrilled again when a few years later we had eeked up just enough in equity to eliminate PMI.

We JUMPED to buy a house when mortgage rates plunged from 16% to 12.25 percent. I think current rates are within reason. 16% was not, nor is the 2.2% my daughter got.

 

[barkley]

Wow. My neighbor had the gutter ripped off his house February 3rd. Over two months later he is still number 50 on the waiting list with the gutter company. They are all tied up with new construction here.

i've kind of wondered about this b/c something similar has gone on the last several years here with certain 'seasonal' trades. i've not heard of anyone dealing with the gutter folks but many people have put down large deposits and had the tear outs/major digging done for landscaping, pools and decks only to be put off for months (or until the next year's good weather) to see any further work completed.

 

[tvguy]

i've kind of wondered about this b/c something similar has gone on the last several years here with certain 'seasonal' trades. i've not heard of anyone dealing with the gutter folks but many people have put down large deposits and had the tear outs/major digging done for landscaping, pools and decks only to be put off for months (or until the next year's good weather) to see any further work completed.

California law is hard on contractors on deposits. They can't ask for more than $1,000 or 10% of the total project cost, whichever is LESS.

 

[MICKIMINI]

Wow. My neighbor had the gutter ripped off his house February 3rd. Over two months later he is still number 50 on the waiting list with the gutter company. They are all tied up with new construction here.

They finished up the back of the house and are now out front!

 

[disneychick0412]

I disagree. We had high rates for YEARS. My first home was bought at 13% interest, I refinanced at 8%. Current home bought at 8% and I refinanced to 2%. I spent most of my adult life at an interest rate that would burn your eyeballs out. We still had kids, we bought homes, we spent money.

The job market right now is CRUSHING it. But we have a serious housing shortage in most areas which are driving up prices, which are hurting younger people starting out. We have certain sectors that seem to be gouging prices. Insurance rates are up and outpatient medical services are up. Food prices actually dropped this month. Day care costs are out of control. Education costs are out of control. I don't know what is fueling all that--shortage in daycare workers for sure. This all impacts people doing anything.

Furniture and contractors have just been hard to get since 2020. Where I live there are long waits for anything.

In what industries? I'm in Healthcare and wages in my area are not going up as much as the cost of everything.