Posted on 01/28/2022 7:57:23 AM PST by Browns Ultra Fan
Here is a lesson in Bidenomics. “Going Green” sounds great to some (like Al Gore, Leonardo DiCaprio and Greta Thunberg), but there are costs to not growing America’s energy supply.
Rising energy costs have helped create the rise in consumer prices and inflation. Not to mention chip shortages for car and trucks. The University of Michigan conditions for vehicles plummeted to 46 (100 baseline) as used vehicles prices sky rocket.
Under Biden’s reign of error, West Texas Crude futures prices have risen 87% (regular gas prices are up 49% even with Biden’s releasing two days of supply from the Strategic Petroleum Reserve.
On the housing front, the University of Michigan buying conditions for houses fell to 72 (baseline of 100) as home prices are roaring at a 18.81% YoY clip.
To paraphrase the comic strip “Gasoline Alley,” “Unca’ Joe, what have your done t’ US?”
(Excerpt) Read more at confoundedinterest.net ...
Does this mean we should sell our houses or wait?
I read Gasoline Alley for over 20 years, and I have no idea of what his paraphrase refers to, or what era.
Yes!
Seriously...we’re doing something on our house every day. Hope to put it on the market in a few months. This upswing cannot last forever...without a correction.
You got a reprieve in that interest rates were not increased this week, but that leaves maybe 3 months. Better hurry and sell that house. Do not worry about fixing it up completely. It is a serious seller’s market and you can get top dollar without having a top condition house.
You are probably correct. Neighbor across the street put his house on the market, a month ago, for probably a hundred grand more than I thought it was worth even in this inflated market. Seriously...for $30/sqft more than anything else has ever sold for in here. Sold the first day. The hood scuttlebutt is they got twenty grand over asking. They’d put a lot of work in on the first floor...the rest of the house was “meh”...the yard was horrible.
And yep...better get this done before rate increases.
My advice is simply to ensure it is very clean and that everything works. Past that, upgrade nothing. Besides, people may be expecting to upgrade and they may not like what you did.
P.S. We just sold out house for $250k over what it was expected to go for just last year.
out=our. No, I did not sell an outhouse. :)
Did you then buy another house ?
.
Yes, we did buy another house, but in Florida for less than half the price of our Colorado property.
Holy cow! Congratulations!
Thanks .
.
“or $30/sqft more than anything else has ever sold for in here”
In this market, every home stands on its own. Comps mean nothing. Price per foot, etc., mean nothing. Prices are nuts. All the rules about “do this” and “analyze that” no longer apply. Your house stands on its own. What do you want for it, that is all that matters.
Bidenomics = typical fascism
When economy good, state takes credit
When economy bad, blame consumers, blame businesses, regulate more to appear caring for the citizens, demand more govt involvement
.
later
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