Will houses ever become affordable again?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our only true hope is if Biden is reelected. And even then it would require an enormous number of stimulus check sent to undo the rapid increase in prices. I have serious doubts that Congress has the fortitude to pass this.

Although I also do hope Biden gets reelected, honestly I don't think stimulus checks and pumping more money into the economy will solve the problem, hell I would argue that caused the problem in the first place.

During the pandemic, not only did the government pumped a lot of money into the economy. First of all the COVID stimulus checks, which rather than targeting those who lost their job, just gave everyone $$. Then they paused student loan payments (for far too long, I would argue the pause was unnecessary for most people). Last the foreclosure (and eviction I guess) moratoriums also ensured that supply stayed low. And last (granted this is out of the executive office's control), FED rates were kept low for far too long (making mortgages much cheaper than they should be, causing house prices to increase, and also causing the inflation in other sectors).

We don't need to government artificially pumping more money in, this will only make the problem worse.

If you look at the underlying components contributing the most to inflation today, it's housing and insurance. And the insurance portion is driven by the fact that natural disasters are becoming more frequent/severe and the cost to rebuild is so high (due to the high cost of real estate).

We are going to be stuck in this cycle for a while, until either more supply is quickly added (would require something like a Manhattan Project for housing) or we get a real recession with lots of widespread pain that forces the hand of investors to dump supply on the market.

Agreed either some increase in supply (through a government intervention providing incentives to build) or some form of a moderate recession that forces people to sell.

I guess another possibility is (and I do not know how realistic this is) is if Trump wins the next election (god I really hope he wont) and then moves certain federal agencies outside the DMV area. If those jobs move/leave the area, I could see it having a dent in the DMV market as well (increased supply and reduced demand). There are around 374k federal government employees in the DMV area (https://fred.stlouisfed.org/series/SMU11479009091000001SA) which is a significant number. A reduction in that could have some serious (negative imo) ripple effects for the area.

He'll be gutting/eliminating agencies.

Dude is not getting elected, sorry. If Jan 6th never happened it probably would have been a cakewalk to winning, but it did, and moderates are hard passing on any MAGA candidate. Better start planning for a Biden term.

Nobody knows what is happening in November. Only the extremely foolish and the extremely confident (typically both) are bold enough to make predictions. You're definitely bringing what you want to believe to your prediction rather than something based on reality (neck to neck polling, national polling versus state by state electoral college polling). As it is, inflation is getting more stubborn.

We need to stop with the inflation talk. It's transitory and only started because of Trump anyway if you look at the numbers (remember how he botched COVID?). Biden got us the Inflation Reduction Act and we just need to be patient for those funds to be deployed.

This is ignorant and especially laughable.

What part? You need to try to keep up and ignore MAGA. These are recent articles about the situation.

https://www.forbes.com/sites/georgecalhoun/2024/02/05/the-verdict-on-the-2021-2023-inflation--transitory-on-all-counts/?sh=6977cadace1c

https://www.whitehouse.gov/briefing-room/statements-releases/2023/08/16/fact-sheet-one-year-in-president-bidens-inflation-reduction-act-is-driving-historic-climate-action-and-investing-in-america-to-create-good-paying-jobs-and-reduce-costs/

Whitehouse.Gov? Please.
Biden has been a complete dumpster fire.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our only true hope is if Biden is reelected. And even then it would require an enormous number of stimulus check sent to undo the rapid increase in prices. I have serious doubts that Congress has the fortitude to pass this.

Although I also do hope Biden gets reelected, honestly I don't think stimulus checks and pumping more money into the economy will solve the problem, hell I would argue that caused the problem in the first place.

During the pandemic, not only did the government pumped a lot of money into the economy. First of all the COVID stimulus checks, which rather than targeting those who lost their job, just gave everyone $$. Then they paused student loan payments (for far too long, I would argue the pause was unnecessary for most people). Last the foreclosure (and eviction I guess) moratoriums also ensured that supply stayed low. And last (granted this is out of the executive office's control), FED rates were kept low for far too long (making mortgages much cheaper than they should be, causing house prices to increase, and also causing the inflation in other sectors).

We don't need to government artificially pumping more money in, this will only make the problem worse.

If you look at the underlying components contributing the most to inflation today, it's housing and insurance. And the insurance portion is driven by the fact that natural disasters are becoming more frequent/severe and the cost to rebuild is so high (due to the high cost of real estate).

We are going to be stuck in this cycle for a while, until either more supply is quickly added (would require something like a Manhattan Project for housing) or we get a real recession with lots of widespread pain that forces the hand of investors to dump supply on the market.

Agreed either some increase in supply (through a government intervention providing incentives to build) or some form of a moderate recession that forces people to sell.

I guess another possibility is (and I do not know how realistic this is) is if Trump wins the next election (god I really hope he wont) and then moves certain federal agencies outside the DMV area. If those jobs move/leave the area, I could see it having a dent in the DMV market as well (increased supply and reduced demand). There are around 374k federal government employees in the DMV area (https://fred.stlouisfed.org/series/SMU11479009091000001SA) which is a significant number. A reduction in that could have some serious (negative imo) ripple effects for the area.

He'll be gutting/eliminating agencies.

Dude is not getting elected, sorry. If Jan 6th never happened it probably would have been a cakewalk to winning, but it did, and moderates are hard passing on any MAGA candidate. Better start planning for a Biden term.

Nobody knows what is happening in November. Only the extremely foolish and the extremely confident (typically both) are bold enough to make predictions. You're definitely bringing what you want to believe to your prediction rather than something based on reality (neck to neck polling, national polling versus state by state electoral college polling). As it is, inflation is getting more stubborn.

We need to stop with the inflation talk. It's transitory and only started because of Trump anyway if you look at the numbers (remember how he botched COVID?). Biden got us the Inflation Reduction Act and we just need to be patient for those funds to be deployed.

Please go take your meds and turn off MSNBC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our only true hope is if Biden is reelected. And even then it would require an enormous number of stimulus check sent to undo the rapid increase in prices. I have serious doubts that Congress has the fortitude to pass this.

Although I also do hope Biden gets reelected, honestly I don't think stimulus checks and pumping more money into the economy will solve the problem, hell I would argue that caused the problem in the first place.

During the pandemic, not only did the government pumped a lot of money into the economy. First of all the COVID stimulus checks, which rather than targeting those who lost their job, just gave everyone $$. Then they paused student loan payments (for far too long, I would argue the pause was unnecessary for most people). Last the foreclosure (and eviction I guess) moratoriums also ensured that supply stayed low. And last (granted this is out of the executive office's control), FED rates were kept low for far too long (making mortgages much cheaper than they should be, causing house prices to increase, and also causing the inflation in other sectors).

We don't need to government artificially pumping more money in, this will only make the problem worse.

If you look at the underlying components contributing the most to inflation today, it's housing and insurance. And the insurance portion is driven by the fact that natural disasters are becoming more frequent/severe and the cost to rebuild is so high (due to the high cost of real estate).

We are going to be stuck in this cycle for a while, until either more supply is quickly added (would require something like a Manhattan Project for housing) or we get a real recession with lots of widespread pain that forces the hand of investors to dump supply on the market.

Agreed either some increase in supply (through a government intervention providing incentives to build) or some form of a moderate recession that forces people to sell.

I guess another possibility is (and I do not know how realistic this is) is if Trump wins the next election (god I really hope he wont) and then moves certain federal agencies outside the DMV area. If those jobs move/leave the area, I could see it having a dent in the DMV market as well (increased supply and reduced demand). There are around 374k federal government employees in the DMV area (https://fred.stlouisfed.org/series/SMU11479009091000001SA) which is a significant number. A reduction in that could have some serious (negative imo) ripple effects for the area.

He'll be gutting/eliminating agencies.

Dude is not getting elected, sorry. If Jan 6th never happened it probably would have been a cakewalk to winning, but it did, and moderates are hard passing on any MAGA candidate. Better start planning for a Biden term.

Nobody knows what is happening in November. Only the extremely foolish and the extremely confident (typically both) are bold enough to make predictions. You're definitely bringing what you want to believe to your prediction rather than something based on reality (neck to neck polling, national polling versus state by state electoral college polling). As it is, inflation is getting more stubborn.

We need to stop with the inflation talk. It's transitory and only started because of Trump anyway if you look at the numbers (remember how he botched COVID?). Biden got us the Inflation Reduction Act and we just need to be patient for those funds to be deployed.

This is ignorant and especially laughable.

What part? You need to try to keep up and ignore MAGA. These are recent articles about the situation.

https://www.forbes.com/sites/georgecalhoun/2024/02/05/the-verdict-on-the-2021-2023-inflation--transitory-on-all-counts/?sh=6977cadace1c

https://www.whitehouse.gov/briefing-room/statements-releases/2023/08/16/fact-sheet-one-year-in-president-bidens-inflation-reduction-act-is-driving-historic-climate-action-and-investing-in-america-to-create-good-paying-jobs-and-reduce-costs/

Whitehouse.Gov? Please.
Biden has been a complete dumpster fire.

You're being kind.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our only true hope is if Biden is reelected. And even then it would require an enormous number of stimulus check sent to undo the rapid increase in prices. I have serious doubts that Congress has the fortitude to pass this.

Although I also do hope Biden gets reelected, honestly I don't think stimulus checks and pumping more money into the economy will solve the problem, hell I would argue that caused the problem in the first place.

During the pandemic, not only did the government pumped a lot of money into the economy. First of all the COVID stimulus checks, which rather than targeting those who lost their job, just gave everyone $$. Then they paused student loan payments (for far too long, I would argue the pause was unnecessary for most people). Last the foreclosure (and eviction I guess) moratoriums also ensured that supply stayed low. And last (granted this is out of the executive office's control), FED rates were kept low for far too long (making mortgages much cheaper than they should be, causing house prices to increase, and also causing the inflation in other sectors).

We don't need to government artificially pumping more money in, this will only make the problem worse.

If you look at the underlying components contributing the most to inflation today, it's housing and insurance. And the insurance portion is driven by the fact that natural disasters are becoming more frequent/severe and the cost to rebuild is so high (due to the high cost of real estate).

We are going to be stuck in this cycle for a while, until either more supply is quickly added (would require something like a Manhattan Project for housing) or we get a real recession with lots of widespread pain that forces the hand of investors to dump supply on the market.

Agreed either some increase in supply (through a government intervention providing incentives to build) or some form of a moderate recession that forces people to sell.

I guess another possibility is (and I do not know how realistic this is) is if Trump wins the next election (god I really hope he wont) and then moves certain federal agencies outside the DMV area. If those jobs move/leave the area, I could see it having a dent in the DMV market as well (increased supply and reduced demand). There are around 374k federal government employees in the DMV area (https://fred.stlouisfed.org/series/SMU11479009091000001SA) which is a significant number. A reduction in that could have some serious (negative imo) ripple effects for the area.

He'll be gutting/eliminating agencies.

Dude is not getting elected, sorry. If Jan 6th never happened it probably would have been a cakewalk to winning, but it did, and moderates are hard passing on any MAGA candidate. Better start planning for a Biden term.

Nobody knows what is happening in November. Only the extremely foolish and the extremely confident (typically both) are bold enough to make predictions. You're definitely bringing what you want to believe to your prediction rather than something based on reality (neck to neck polling, national polling versus state by state electoral college polling). As it is, inflation is getting more stubborn.

We need to stop with the inflation talk. It's transitory and only started because of Trump anyway if you look at the numbers (remember how he botched COVID?). Biden got us the Inflation Reduction Act and we just need to be patient for those funds to be deployed.

This is ignorant and especially laughable.

OMG, I literally thought they were joking!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our only true hope is if Biden is reelected. And even then it would require an enormous number of stimulus check sent to undo the rapid increase in prices. I have serious doubts that Congress has the fortitude to pass this.

Although I also do hope Biden gets reelected, honestly I don't think stimulus checks and pumping more money into the economy will solve the problem, hell I would argue that caused the problem in the first place.

During the pandemic, not only did the government pumped a lot of money into the economy. First of all the COVID stimulus checks, which rather than targeting those who lost their job, just gave everyone $$. Then they paused student loan payments (for far too long, I would argue the pause was unnecessary for most people). Last the foreclosure (and eviction I guess) moratoriums also ensured that supply stayed low. And last (granted this is out of the executive office's control), FED rates were kept low for far too long (making mortgages much cheaper than they should be, causing house prices to increase, and also causing the inflation in other sectors).

We don't need to government artificially pumping more money in, this will only make the problem worse.

If you look at the underlying components contributing the most to inflation today, it's housing and insurance. And the insurance portion is driven by the fact that natural disasters are becoming more frequent/severe and the cost to rebuild is so high (due to the high cost of real estate).

We are going to be stuck in this cycle for a while, until either more supply is quickly added (would require something like a Manhattan Project for housing) or we get a real recession with lots of widespread pain that forces the hand of investors to dump supply on the market.

Agreed either some increase in supply (through a government intervention providing incentives to build) or some form of a moderate recession that forces people to sell.

I guess another possibility is (and I do not know how realistic this is) is if Trump wins the next election (god I really hope he wont) and then moves certain federal agencies outside the DMV area. If those jobs move/leave the area, I could see it having a dent in the DMV market as well (increased supply and reduced demand). There are around 374k federal government employees in the DMV area (https://fred.stlouisfed.org/series/SMU11479009091000001SA) which is a significant number. A reduction in that could have some serious (negative imo) ripple effects for the area.

He'll be gutting/eliminating agencies.

Dude is not getting elected, sorry. If Jan 6th never happened it probably would have been a cakewalk to winning, but it did, and moderates are hard passing on any MAGA candidate. Better start planning for a Biden term.

Nobody knows what is happening in November. Only the extremely foolish and the extremely confident (typically both) are bold enough to make predictions. You're definitely bringing what you want to believe to your prediction rather than something based on reality (neck to neck polling, national polling versus state by state electoral college polling). As it is, inflation is getting more stubborn.

We need to stop with the inflation talk. It's transitory and only started because of Trump anyway if you look at the numbers (remember how he botched COVID?). Biden got us the Inflation Reduction Act and we just need to be patient for those funds to be deployed.

This is ignorant and especially laughable.

What part? You need to try to keep up and ignore MAGA. These are recent articles about the situation.

https://www.forbes.com/sites/georgecalhoun/2024/02/05/the-verdict-on-the-2021-2023-inflation--transitory-on-all-counts/?sh=6977cadace1c

https://www.whitehouse.gov/briefing-room/statements-releases/2023/08/16/fact-sheet-one-year-in-president-bidens-inflation-reduction-act-is-driving-historic-climate-action-and-investing-in-america-to-create-good-paying-jobs-and-reduce-costs/

I am trying to decide whether you are a trolling or sincere. The simple fact of the matter is that inflation took off enormously under Biden, not Trump, even if it started in his last year in office. But the biggest deficit spending was under Biden thanks to IJIA, the loan forgiveness, the extra sets of checks. And even the COVID deficit spending had bipartisan support so not sure how, say, a HRC presidency would have handled it differently. The idea that we'd "defeat" COVID with a Democratic president is bizarre given the global nature of it and what also happened in all the peer countries. Are you going to give Trump credit for the vaccine given it was developed while he was president? I suspect not.

As it is, inflation is definitely here and has been going on for close to four years now without a real end in sight even if it has slowed down. When does it stop being transitionary? 3 1/2 years is still transitionary? This inflation run has lasted longer than the Weimar inflation!

[Anonymous]

There are areas with affordable homes. Just not in DC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our only true hope is if Biden is reelected. And even then it would require an enormous number of stimulus check sent to undo the rapid increase in prices. I have serious doubts that Congress has the fortitude to pass this.

Although I also do hope Biden gets reelected, honestly I don't think stimulus checks and pumping more money into the economy will solve the problem, hell I would argue that caused the problem in the first place.

During the pandemic, not only did the government pumped a lot of money into the economy. First of all the COVID stimulus checks, which rather than targeting those who lost their job, just gave everyone $$. Then they paused student loan payments (for far too long, I would argue the pause was unnecessary for most people). Last the foreclosure (and eviction I guess) moratoriums also ensured that supply stayed low. And last (granted this is out of the executive office's control), FED rates were kept low for far too long (making mortgages much cheaper than they should be, causing house prices to increase, and also causing the inflation in other sectors).

We don't need to government artificially pumping more money in, this will only make the problem worse.

If you look at the underlying components contributing the most to inflation today, it's housing and insurance. And the insurance portion is driven by the fact that natural disasters are becoming more frequent/severe and the cost to rebuild is so high (due to the high cost of real estate).

We are going to be stuck in this cycle for a while, until either more supply is quickly added (would require something like a Manhattan Project for housing) or we get a real recession with lots of widespread pain that forces the hand of investors to dump supply on the market.

Agreed either some increase in supply (through a government intervention providing incentives to build) or some form of a moderate recession that forces people to sell.

I guess another possibility is (and I do not know how realistic this is) is if Trump wins the next election (god I really hope he wont) and then moves certain federal agencies outside the DMV area. If those jobs move/leave the area, I could see it having a dent in the DMV market as well (increased supply and reduced demand). There are around 374k federal government employees in the DMV area (https://fred.stlouisfed.org/series/SMU11479009091000001SA) which is a significant number. A reduction in that could have some serious (negative imo) ripple effects for the area.

He'll be gutting/eliminating agencies.

Dude is not getting elected, sorry. If Jan 6th never happened it probably would have been a cakewalk to winning, but it did, and moderates are hard passing on any MAGA candidate. Better start planning for a Biden term.

Nobody knows what is happening in November. Only the extremely foolish and the extremely confident (typically both) are bold enough to make predictions. You're definitely bringing what you want to believe to your prediction rather than something based on reality (neck to neck polling, national polling versus state by state electoral college polling). As it is, inflation is getting more stubborn.

We need to stop with the inflation talk. It's transitory and only started because of Trump anyway if you look at the numbers (remember how he botched COVID?). Biden got us the Inflation Reduction Act and we just need to be patient for those funds to be deployed.

This is ignorant and especially laughable.

What part? You need to try to keep up and ignore MAGA. These are recent articles about the situation.

https://www.forbes.com/sites/georgecalhoun/2024/02/05/the-verdict-on-the-2021-2023-inflation--transitory-on-all-counts/?sh=6977cadace1c

https://www.whitehouse.gov/briefing-room/statements-releases/2023/08/16/fact-sheet-one-year-in-president-bidens-inflation-reduction-act-is-driving-historic-climate-action-and-investing-in-america-to-create-good-paying-jobs-and-reduce-costs/

I am trying to decide whether you are a trolling or sincere. The simple fact of the matter is that inflation took off enormously under Biden, not Trump, even if it started in his last year in office. But the biggest deficit spending was under Biden thanks to IJIA, the loan forgiveness, the extra sets of checks. And even the COVID deficit spending had bipartisan support so not sure how, say, a HRC presidency would have handled it differently. The idea that we'd "defeat" COVID with a Democratic president is bizarre given the global nature of it and what also happened in all the peer countries. Are you going to give Trump credit for the vaccine given it was developed while he was president? I suspect not.

As it is, inflation is definitely here and has been going on for close to four years now without a real end in sight even if it has slowed down. When does it stop being transitionary? 3 1/2 years is still transitionary? This inflation run has lasted longer than the Weimar inflation!

If inflation was caused by domestic spending then why is inflation seen globally? Do you have any data or analysis that supports your claim? It seems like you are just a blind partisan. All of the expert analysis that I have read points to fuel prices and supply chain issues as the culprit:

“On the supply side, supply chain disruptions had an important inflationary impact, particularly in 2021 and 2022. The auto industry is a case in point. US auto production dropped from 11.7 million vehicles in July 2020, roughly the pre-pandemic rate, to less than 9 million in the fall of 2021, reflecting shortages of computer chips and other inputs. The combination of strong demand and supply chain bottlenecks led to further pressure on prices, particularly on prices of durable goods. Rising prices of food and energy added importantly to inflation. Notably, the crude oil market was disrupted by the Russian invasion of Ukraine in early 2022. The price of West Texas Intermediate crude oil rose from less than $70 per barrel in the late summer of 2021 to more than $100 per barrel for most of the period between March and July of 2022, pushing up gasoline prices and the costs of many industrial inputs.”

https://www.nber.org/digest/20239/unpacking-causes-pandemic-era-inflation-us

[Anonymous]

Anonymous wrote:Our only true hope is if Biden is reelected. And even then it would require an enormous number of stimulus check sent to undo the rapid increase in prices. I have serious doubts that Congress has the fortitude to pass this.

Somebody definitely slept during Econ 101.

[Anonymous]

Inflation?? there is no change in policy...keep giving handouts and spending. This is fueling inflation! People are not dumb.