Earlier quoted context omitted.
who has all this money to spend? everywhere everything is so expensive. i make a ton, and this doesn't add up. nothing about home prices seems to add up.
Stocks only go up
Money printer goes brrrrrrr
Lumber crash leads to 'blowout' sales as prices crater
111–120 of 553 posts
Re: Lumber crash leads to 'blowout' sales as prices crater
#112Earlier quoted context omitted.
Don't forget "soared" and "plunged", used practically any day the market moves more than a hair.
It's interesting to pay attention to the verbs chosen to describe things done or said by politicians
Yep. One of the ways reporters mislead people while remaining factually correct. Then they blame factually incorrect news as destroying society while they're just doing the same thing more tactfully.
Re: Lumber crash leads to 'blowout' sales as prices crater
#113Earlier quoted context omitted.
I think for a lot of (white collar) people, the last year and a half of covid has been the most lucrative time of their entire lives. Crazy returns across all asset classes.
my measly half million dollar worth of stocks "only" grew 30%. There's a significant amount of people do that much better than i did? what am i missing?
I spent 1.1M on a house with my wife of course and am very happy with my purchase. Lots of land and nobody around to tell me what to do.
Re: Lumber crash leads to 'blowout' sales as prices crater
#114Earlier quoted context omitted.
The new runaway inflation is in steel prices. https://www.wsj.com/articles/high-steel-prices-have-manufact...
About a year ago wee started design on a large project for one of our clients . Think in terms of something like a full size passenger aircraft motion simulator...so, something 100 feet long and 21 feet wide. Well, needless to say, lots of metal makes-up the entire structure. We had to design this thing twice due to fluctuations in metal pricing. The original design was all aluminum. Then came all steel, because alum…
I can’t imagine that redesign. The difference between the density/mass of aluminum and steel, plus the difference of inertia the software would have to account for. That must have been a lot of work for everyone!
Re: Lumber crash leads to 'blowout' sales as prices crater
#115Earlier quoted context omitted.
I think for a lot of (white collar) people, the last year and a half of covid has been the most lucrative time of their entire lives. Crazy returns across all asset classes.
my measly half million dollar worth of stocks "only" grew 30%. There's a significant amount of people do that much better than i did? what am i missing?
tech stocks, crypto, real estate, etc
Re: Lumber crash leads to 'blowout' sales as prices crater
#116Re: Lumber crash leads to 'blowout' sales as prices crater
#117Krugman was right again.
ah yes, guy who predicts the euro will fail every 2 years, and who predicted that the internet would be a fad, right again
Re: Lumber crash leads to 'blowout' sales as prices crater
#118Earlier quoted context omitted.
Mortgage borrowing costs are at historic lows.
its still expensive to borrow $700,000, on top of your current expenses. that's an extra payment of $3300, whos got that laying around to wait for a house to be built
Hang on let me check your other comments in this thread.
You do!
Most people, when they get a mortgage, they're going deep into debt. You have about that much in liquid assets. You can definitely afford it.
Re: Lumber crash leads to 'blowout' sales as prices crater
#119Earlier quoted context omitted.
I think for a lot of (white collar) people, the last year and a half of covid has been the most lucrative time of their entire lives. Crazy returns across all asset classes.
my measly half million dollar worth of stocks "only" grew 30%. There's a significant amount of people do that much better than i did? what am i missing?
A bunch of tech stocks doubled in 2020, and some did significantly better than that.
Re: Lumber crash leads to 'blowout' sales as prices crater
#120Earlier quoted context omitted.
Wait, people were saying/thought that this was runaway inflation and not a result of supply chain issues because of COVID and tons of people suddenly having to spend way more time in their house because of COVID? Maybe I'm ignorant of the inflation argument more than anything else but it doesn't even pass the sniff test in my opinion.
Low interest rates, QE, stimulus, and rocketing stock prices facilitated the hot real estate market as much as proximate covid policies. You are correct to guess there is a substantial discussion that you're ignorant of.
Low interest rates don't increase inflation do they? And rocketing stock prices are definitely not a part of inflation.
QE and stimulus can certainly contribute, but "as much" is a pretty big overstatement. If anyone thinks inflation was a notable fraction of the price quadrupling, they're being ridiculous. Even a huge amount of inflation would only be 2-4% of the lumber price increase.