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fareastwarriors

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    Have We Hit The Top?

    in General Discussion

    Posted · Edited by fareastwarriors

    39 minutes ago, Dinar said:

    You are cherrypicking, and also saying things that are not true.  For instance, in 2004, gas was $1.25 in NJ per gallon and today is it $4 per gallon.  In terms of food, in 1990, the grocery bill for my family of 3 was $350 per month in NYC and we ate very well.  Today, it is closer to $2000 for a family of 5.  I challenge you to spend the same amount of money on food that you did in 2008.   Yogurt that I buy has doubled in price in the last 5 years, tomatoes and chicken as well, fish more than doubled, and the list goes on and on.  

    What food products are cheaper today than they were in 2008?

     

    Things are more expensive but some things are still so cheap. Saw chicken drumsticks at Costco for $0.59/lb couple weeks ago.

     

    Eggs were on sale $0.99/dozen last week at a supermarket. Stocked up on 6 dozens.

     

    image.thumb.png.6528c43f2f8ea3e986750d40b13f8800.png

     

    I still see prices for whole chicken $0.69-0.99/lb at various markets all the time. 

     

    Picked up some corn 🌽 at 6 per $1 last week. This week is 5 for $1. Few weeks ago, Roma tomatoes were on sale at 0.79/lb. Non-sale price is like $2-3... Bone-in pork shoulder could be had a $1-2 a pound still. My freezer still have a bunch of $4-5/lb Korean style beef short ribs and $2/lb pork ribs. 😋

     

    Sure some of these sales may be loss-leaders but there are deals to pick up every week.  I'm in Bay Area, CA so not exactly low cost area.

     

    Your $2000 for a family of 5 is a lot but I can see it. NYC can add up fast. 

     

     

     

     

    Leaving New York City

    in General Discussion

    Posted

    6 minutes ago, changegonnacome said:

    Anecdotally as somebody who lives in NYC and knows folks in the real estate game so I ask every now and again what's going on in 7% mortgage land.....to transactions and prices....the answer I get back pretty much...... is there is so much intergenerational wealth in the Northeast, which allows enough prospective purchasers to skip over the problems that say 7%+  mortgage rates would provide to a more normal middle America population pool that NYC property is barely skipping a beat.

     

    The Bank of Mam & Dad GSIBs wouldn't like to see DTI's or large deposit requirements mess up the next generations acquisition of an NYC pad. Twin that with low inventory (the 3% 30yr fixed rate crowd) and deals still are getting done at flat-ish prices versus 21/22.

     

    I'm in the Bay Area in Cali and a decently priced house in a good neighborhood is still flying off the MLS. 

     

    Just no inventory at all...

    Have We Hit The Top?

    in General Discussion

    Posted

    22 minutes ago, Gregmal said:

    Lol yup. People continuously play this game and it’s dumb. They try to oversimplify a complex and evolving market with junk like “future returns will likely be poor”, “gee just follow the Fed”, “recession is just around the corner”, etc, etc. All predicated on hindsight. Just like with the Fed and it’s pitiful inflation journey, those that constantly stare at the rear view mirror often miss what’s ahead of them. Even when it’s obvious.
     

    For one, I’m sad we no longer hear people boasting about their iBonds, huge cash positions, and tremendous savviness slinging inverse ETFs on a weekly basis….

     

    i tell ppl i'm always long and strong. 

     

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