Inflation here? gas/grocery prices just continue to climb (3 Viewers)

[efil4stnias]

Yup. Over asking here, too. In a snap, to boot.

There’s a house a couple of blocks away - 3 br, 2.5 bath, 1800 sq ft with a finished basement that would have gone for 300k when we bought to nearly 1 million now.

Who can afford this? Out of university? Young families? No way.

Former neighbors of ours were trying to convince us to sell ours because of the money we’d make. But we’d just turn around and have to put it into something else.

I’d rather stay out.

i had the same mini-argument with wife over weekend- we sell, we GOTTA buy something overpriced to get into-

There is ZERO rental properties in St. Tammany

 

[Dan in Lafayette]

I'm sure it has nothing to do with Federal Reserve creating a ton of new money.

 

[BobE]

now I don't if I should be happy or scared I just bought a place

 

[Turfie]

I mentioned this in the investment thread last night. We rented a home in Ontario for about 40 months. Landlord bought the home for 550K in May 2018 and sold it for 950K earlier this month.

That house literally appreciated to a tune of 10K each month. For 40 months. At one point I was saving 2.5K each month to try and buy it. Little did I know I was still losing ground by a tune of 7.5K a month.

The house was 1,400 sq ft an hour outside of Toronto.

Truly insane. We just bought in SC. Housing is more than 50% cheaper in upstate SC compared to southern Ontario. Even adjusting for currency.

So I look at upstate SC as cheap. And all I did was help cause higher prices in upstate SC to the people that live there.

 

[El Caliente]

Only partisan tool bags will tell you inflation isn’t getting real. Filled up last week at $2.99/gal, today $3.11/gal (understandable that prices for gas rise so quickly), and milk was $1.98/gal, yesterday $2.13. Wild times ahead.

 

[Zztop]

We dont rely on other countries for staples.

This is domestic and domestic alone. It has to do with supply chain issues, logistics and demand. We snapped back to buying/consumption waaay faster than anticipated. Suppliers, for a myriad of reasons, simply cannot staff.

Wife/I/youngest went out to eat Saturday night. We went to Isabellas Pizza- small mom/pop place in a strip mall.

ONE - ONE waiter. had 8 tables going- Amid all that, constant foot traffic for doordash/grubhub/uber eats- So this puts a strain on the kitchen. They cannot anticipate the volume from week to week- so they wont hire help , and honestly who will work their ARSE off on fri/sat just for 5-6 hrs per day at $10/hr?

To add, we waited 30 min for the food, so i asked the young man whats up- he said the other waiter/ress quit last week and they cant find replacement. So its just him.

And its not just Isabellas. Its everywhere up and down from suppliers to end users.

Somethings gotta give and when it does, it could be cataclysmic

yep, all about supply chain. But this isn't something that just suddenly happened so I am not sure why people are only now starting to notice.
Prices for things like lumber has risen for a while now. Anyone been to a dealership recently? Many have very few new vehicles because of something called "just in time" manufacturing (basically only keeping small inventory and only ordering parts only when they need them) and yet there is a semiconductor shortage - so they can't order things on a whim. This caused used cars to appreciate in value, I've heard to the tune of about +25%. These are just a few off the top of my head.
Also the largest ports in the US is massively backlogged

Nearly half a million shipping containers are stuck off the coast of Southern California as the ports operate below capacity

The ports currently have 19 mega-container ships and approximately 12 million tons of goods waiting to dock and unload for as long as a month.

www.businessinsider.com

TLDR; the pandemic forked things up on a global scale that affects all aspects of life.

 

[dtc]

I'm sure it has nothing to do with Federal Reserve creating a ton of new money.

Some, but not much. More to do with a cascade of smaller issues than any one thing.

 

[Zack Lee]

Thread verified. I just left the gas station and the grocery store.

 

[itztime]

Thread verified. I just left the gas station and the grocery store.

Beef flavored Ramen noodles starting to taste like Ribeye.

 

[2fya]

Mods please lock this thread. This is absolutely depressing

 

[efil4stnias]

Thread verified. I just left the gas station and the grocery store.

Yeah we try to split that up so as not to get too shocked

 

[Mr. Blue Sky]

Only partisan tool bags

Sounds like this might be something you know a little bit about………………….

 

[guidomerkinsrules]

Sounds like this might be something you know a little bit about………………….

I couldn’t believe he would just draw a bullseye on himself like that

 

[Turfie]

My paycheck holding steady tho!

 

[Sailorsaint]

My paycheck holding steady tho!

lol, it's rare to see your paycheck inflate, right?!