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Post by fixitguy on Jul 9, 2022 1:35:40 GMT
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Post by Txsteader on Jul 9, 2022 13:08:27 GMT
That's a pretty terrifying situation for us to be in, if you think about it..... considering it was from our Strategic Defense supply.
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Post by fixitguy on Jul 10, 2022 0:42:10 GMT
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Post by Ozarks Tom on Jul 10, 2022 1:36:48 GMT
If I was planning on building a home in the near future, I'd be buying all the lumber needed right now. We have to remember, MSN, like the rest of the media carries water for the administration, putting the optimistic view in their articles. Lumber being down right now possibly signals the burst of the home buying market bubble, but that could also signal lots of mortgages going unpaid as the rest of the economy deteriorates. If that happens, as in 2009, the government will step in to shore up the banks holding that bad paper, meaning even more money printing.
Last year we were told inflation was "transitory", but it wasn't. Then Treasury Secretary Yellen told us inflation surprised her. Then last week Biden touted what a great economy we currently have, just hunky-dory. Now this article is telling us inflation has peaked, which I don't believe any more than the other proclamations.
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Post by fixitguy on Jul 10, 2022 2:26:48 GMT
[ The way lumber behaves in the fall—when the commodity’s prices traditionally rise—could also be a big signal as to how bad an economic contraction will be. “It will be interesting to see if [lumber] starts to move back up,” Newsom said. “It would tell us that the U.S. economy is starting to sift through all the interest rate hikes and the inflation, and that the economy may not be as bad as what many people think it will be.” This story was originally featured on Fortune.com[ Ozarks Tom, I guess these last words got me thinking on the lumber indicator. I do believe the housing market has peaked, if the job market goes south like 08', lots of folks are going to be in trouble and underwater with a house payment. One thing I noticed locally. A gas station was begging for help for the last year, they are filling those shifts with workers now. Although, some are the bottom of the barrel.
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Post by themotherhen on Jul 10, 2022 4:14:31 GMT
The housing bubble may have popped but grocery store prices are still going up, up, up! I spent $52 the other day on milk ($3.89/gallon!), a block of cheddar cheese, lemon juice and a few odds and ends. Ridiculous.
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Post by Tricky Grama on Jul 10, 2022 11:52:47 GMT
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Post by wildhorseluvr on Jul 10, 2022 12:22:33 GMT
The housing bubble may have popped but grocery store prices are still going up, up, up! I spent $52 the other day on milk ($3.89/gallon!), a block of cheddar cheese, lemon juice and a few odds and ends. Ridiculous. On the news yesterday they said something about groceries had reached their peak and prices would likely start coming down. Ha! Don’t think it’s going to end any time soon. Grocery prices are still going up here, but at least it’s cheaper than my former area. Every time I’d run into the store there for a few essentials, it was always $75-$100 and that was only for 1 person. The other day DD and I went to WinCo and came home with a substantial amount of groceries. The total was $103, and that included a few extras we didn’t even need. If I buy this house it’ll close Aug. 1, so I hope to start replenishing my food storage quickly before prices increase. Maybe I can even catch a few fall sales on canned goods.
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Post by laurazone5 on Jul 10, 2022 16:06:47 GMT
wildhorseluvr, I have my tinfoil on preeeeety tight....... This fall / winter groceries will DOUBLE what they are now. Why? Well America is in a 'drought', crops failed, wild fires, pests...... Oh, and Russia. We will blame Russia for taking over the Ukraine's bread basket...... Just like Russia is driving up our gas prices, because we got 7% of our oil from them.......
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Post by wildhorseluvr on Jul 10, 2022 18:44:13 GMT
laurazone5, I agree. It’s possible they might not be that high, but I think it’s more probable prices will double, if not more. My intention is to prepare as much as possible and there isn’t a lot of time left. If I get this house, I can do a lot of bulk shopping, and I’ll also look at buying some water troughs or raised bed containers to do some gardening in. Not the cheapest way to go but probably the quickest and easiest. If it isn’t too late, I’d like to get a couple of fruit trees and/or berry bushes planted.
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Post by ohiodreamer on Jul 10, 2022 19:16:19 GMT
wildhorseluvr, Since your DD knows you are going to get your own place, maybe you could get the trees and bushes now and plant them in large tubs. They could winter over that way, likely, and plant in the spring if you can't get them in this year. Our old neighbors grew a tree in a 10 gallon pot for 8 years before they found someone to take it and plant in their yard. The neighbors yard had no room for another tree, lol. SAles are now, might not be any left by Aug (at least here)
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Post by wildhorseluvr on Jul 10, 2022 20:59:02 GMT
Definitely something to consider, ohiodreamer, at least as soon as I find out for certain about the property. Not sure how long it will take to schedule an inspection…will call my realtor tomorrow. I haven’t seen one tree or even a veggie plant for sale around here, nothing but flowers. Need to go around to some of the small nurseries, maybe they’re not sold out. I know at least a few of my grape cuttings have survived despite the hot weather. If I can get just 2-3 started, I can get more cuttings of of those.
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Post by fixitguy on Jul 10, 2022 21:57:54 GMT
I think this recession is going to be much different than we seen in the 08' housing market bubble. Then people had overpriced homes and the job market fell out.
This round is going to hurt people that have a home paid for or low house payments. We have a small mortgage still, but we spend more to fuel the autos per month than our house payment is. With the rising food price that we didn't have back in 08', the round is going to hurt everyone.
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Post by Ozarks Tom on Jul 11, 2022 0:04:46 GMT
fixitguy, Not only what you mentioned, but the government was pressuring banks to approve otherwise unapprovable home loan, diversity don't ya know. People were buying homes with no proof of income for Pete's sake. I remember that debacle well. We had two profitable area rug stores, and when the mortgage market stopped making loans, our traffic through the door dropped by 80%. Today's situation is quite different, for now. People living paycheck to paycheck are deciding whether to buy food, or gas, or pay their mortgage. Guess which one comes last. And there are just a whole lot of people like that. My thoughts are running towards the coming crash being completely programmed and well thought out. Let's just take the California bill that's going to put 7,000 independent truckers out of business. That alone will run prices up. Then add in the millions of crimaliens we're supporting, and what they do to the local economies. If someone sat down and listed the things they'd do to crush the economy, it would read like the headlines of the Daily Caller or Whatfinger News. Oh, I read a very prescient essay on survivalblog.com/2022/07/10/the-bidenized-silver-market/ that agrees with what I've thought for some time, if you have discretionary funds available, buy silver.
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Post by joebill on Jul 17, 2022 21:24:30 GMT
that one does not want to be at the bottom of the barrel that one wants to be the man IN the barrel... Joe
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