Cash is King. The Fed mandate will increase unemployment, housing market will shift

Housing bubble will shift. Unemployment will rise. Remote jobs will diminish, cities will flourish again.

Cities and states that saw a housing boom, will see a crash and the cities everyone left will have a boom.

Fed needs inflation to lessen and it will be painful for many.

Don't get caught up in FOMO...march to the beat of your own drum.

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[jgrant]

Very thankful for your weekly updates ☺️

[enigmathegrayman]

“Foresight is not about predicting the future, it’s about minimizing the surprise”
People will learn this lesson surely!

[reliablemaid]

Thank you. Blessings to you and your family!

[Fibers-Art-Food-Fundamentals]

I saw a fixer home with a (potentially) pretty lot recently, in a price I would consider ok- not great, but after the last 18 months, it's an improvement, but what stopped us cold was the property taxes! It was a real shock to see what the place had been valued at and taxed at, in it's fixer status. I cannot imagine paying that as well as whatever next year is...it's a pity, too, because it's out in the boonies and a long way from anything, just like I like, and although it needs quite a bit of work, it would actually be mostly livable while we did the repairs, unlike many we have seen these last 6 years where the only thing that is guaranteed is the address-and even that is questionable some times- we have seen a lot of places with the roof caved in, massive mold, walls toilets sinks light fixtures and windows and doors missing, support beams cut and gone, floors open to the ground, you name it, it's been an education! It used to be people actually had pride of ownership and cared how it looked because they felt like it was a reflection on them And it would net them a higher sale price. After the 2008-2012 era in the US, not many people seem to care. For those of us who remember the 70's and inflation/ gas prices/ fear of losing the job or security, but also expected if we stuck it out for 40 years we'd have a decent retirement, or at least enough to make it til we passed away, wow, things have changed. I see so many young people saying things like they will get rich in a few months of being a social influencer! A few will, yes, but not 95 % of them. Society is full of people who have lived in debt and see no reason to pay anything off, since there doesn't seem to be any real penalty for overwhelming debt-until they end up on the street, which many cannot comprehend could happen. I knew a woman of retirement age a few years ago who fell on very hard times and the credit stopped for her, suddenly she couldn't afford her rental, she assumed that there would be churches and social services for her, but it turns out that a whole lot of those services, even in the blue states, have been cut, and with the huge numbers of people needing help, the churches, shelters and other such assistance can no longer be relied on. She was fortunate in that she had a sister who took her in...not everyone has that. We took a walk today and talked to a very nice, very lucid man probably about 55, who is recently homeless, and it was obvious that he still thinks of himself as having his position that he held for years-successful job in the Bay area, home, family...we shared a cookie with him, and a long conversation; hard to guess what his life experiences will be like a year or two from now. For today he was happy to get a haircut and get cleaned up. Very sobering what is going on--and even more so, what could be coming.

[stephenjohn]

a lot of talking heads still believe that cash is trash because of inflation. what they do not realize is the recession that will soon follow and if the interest rates keep rising, the dollar will start to strengthen again. thanks for your sane advise in these stressful times.

[triciabrown]

You may be right, but my employer, for example, announced a few weeks ago that most positions would be permanently remote. The few exceptions are higher-level management who have to show their faces in the office a day or two per week.

[sinforoso]

Interest rates were made irrelevant as soon as they dropped in 2020. Realtors automatically inflated prices and FOMO buyers lined up. The sad thing is, the herd does not have enough brain power to realize that a low interest rate is not an asset when you grossly overpaid for the property.

[peggytaylor]

I hope all those greedy companies that bought all the housing and drove everything up lose their asses, and if that wasn’t bad enough raised rent so high people couldn’t save anything.

[aldemar.bernal]

I quite don't get all the panic regarding mortgage rates, 6% is a bargain for other places in the globe; for instance, myself living in a "third world" country we don't get anything below 10% and I know the prices here are way lower than there but also our income is way lower. Now, let's say a household income is about $100K and they buy a house for $400K, well, that's not bad at all, a 4 to 1 ratio, and I know you won't have all the money available to pay the mortgage, you have to eat and pay the bills but even getting a 30 year loan it's totally possible to pay that back in 10-12 years. I might be wrong but maybe the problem is not the interest rate but a lack of financial management? living to pay the interests of the debts (anything above one payment means to pay interests) buying things that are not necessary with credit cards to pay even more interests.

I have always think that your living standard must be related to what you really need not to what you earn, if you live always according to what you earn it will never be enough and you will always fell broke.