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Originally Posted by Gatordash
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Lol so you think you are correct in that your opinion on inflation is that it is not as high as your expectations of inflation. Very informative and I'm glad you are correct about your own expectations.
However, if your example to justify your opinion is that food prices are only up 3% this year, than I would say, what about home prices? That shit went up like 3% a week this year. And it definitely is directly affected by government spending because we are almost at 2.5 trillion in MBS. https://www.federalreserve.gov/relea...41.htm#h41tab1 |
To be honest with you I'm having a lot of trouble even finding good data on house prices atm. The price of housing is very dependent on demand of where it is located obviously. It's easy to play games with.
People bitch about rent prices. I think is might have something to do with what happens when you let a small minority of wealthy people buy up all the land (this process takes awhile in big countries like ours). But conservatives before this pandemic complained about government regulation getting in the way of housing development.
Now its because of inflation caused by the package that democrats haven't passed yet. Those who are more intellectually consistent will blame Trump as well - but either way I think its BS.
There was genuine fear that lack of demand for rentals would put smaller landlords out of business. Some stipulated they were not helping people much with rent on purpose so that big landlords could by up more properties at low prices.
Rent freezing and stimulus checks would have an inflating impact normally. But given that it really wasn't all that much money per person or a mass rent freeze, I doubt that would be a primary driver.
But I don't want to say housing hasn't inflated at all. I'm getting numbers like "3.17%" -- but the numbers tend to be problematic. There is the CPI data being deflated by lowballers (some argue the high ballers counter-balance, I doubt it). But that's only one issue. Theres also the fact that things like prices going up 80% in many cool small liberal towns. Unless you live there, its unlikely to impact you. Likewise, property is a little deflated on the top end of NY -- who cares.
At least with gas prices we can go figure shit out that is broadly true across the board. My rent -- for example -- has not changed. There were a lot of people moving out and moving back in with their parents or something -- IDK -- I just know they were moving.