Market Watch

[MoKelly]

I'm just waiting to put my cash to work when people realize they are overextended

At 5.65% money market rates here, my cash is working harder than the last 16 years. It’s about time.

 

[PreacherM]

I'm not going to argue about cost of homes or building lots. However, take a close look at the average suburban home in 2022 vs 1980. Quite a bit of difference in sqft, but that's just part of the equation. How much does it cost to build those big porch columns? How much extra does the floorplan cost vs the simple rectangles of bygone decades? Thousands and thousands. My only conclusion is that people still have more money than common sense. Don't complain to me about the cost of a new home if your paying me to install some of those "extras".

Granted: there are those who in this economy can't afford to own even the most basic home. I'm very thankful we bought ours in 2017.

 

[D&D]

I'm not going to argue about cost of homes or building lots. However, take a close look at the average suburban home in 2022 vs 1980. Quite a bit of difference in sqft, but that's just part of the equation. How much does it cost to build those big porch columns? How much extra does the floorplan cost vs the simple rectangles of bygone decades? Thousands and thousands. My only conclusion is that people still have more money than common sense. Don't complain to me about the cost of a new home if your paying me to install some of those "extras".

Granted: there are those who in this economy can't afford to own even the most basic home. I'm very thankful we bought ours in 2017.

Yep, part of it too. 1700-2000 sqft used to be a decent size. Now it’s 3500+ with a basement. Locally, drilling a well is now 20k+, a yard of concrete is $200, 30 year architectural shingles are $500/sq, drywall $30/sheet, gutters are $6/Lin.ft. H$ll a bucket of paint is over $50

 

[MoKelly]

Missouri just passed a bill to freeze property tax rates for seniors (67 or older) if the home value is $550000 or less.

 

[5030]

I’d be willing to bet they want to, being able to may be the dilemma.

Absolutely and the 'she' wants a palace as well. Reality and fantasy are 2 different things, especially today. A conventional mortgage even today requires 20% down. They don't have 2% down. He has a good job, she has an iffy job with a T2 supplier and I suspect soon to be laid off. Far as I can tell, he is practical, she spends money like water plus they have 2 young kids. They will be renting from me for a long time, I suspect. You cannot have a 'silk purse' on a 'sows ear' mentality.

 

[CloverKnollFarms]

At 5.65% money market rates here, my cash is working harder than the last 16 years. It’s about time.

True. We keep about a years salary liquid, and at least it’s earning over 5% now.

 

[jyoutz]

True. We keep about a years salary liquid, and at least it’s earning over 5% now.

Yes. I just put a year’s salary into a 14 month CD earning 5%. Kinda like back in the 1980s when it was actually worthwhile to buy a CD.

 

[Blue Mule]

Yes. I just put a year’s salary into a 14 month CD earning 5%. Kinda like back in the 1980s when it was actually worthwhile to buy a CD.

Wish I understood more about how things like that work. The banking/financial topic makes my head spin. When I hear CD I think about music. Lol.

 

[Cahaba Valley Farm]

Yes. I just put a year’s salary into a 14 month CD earning 5%. Kinda like back in the 1980s when it was actually worthwhile to buy a CD.

Why not a money market? Just asking.

 

[MoKelly]

Why not a money market? Just asking.

In my opinion, you’d select a longer term CD v a money market if you believed the Fed was about to start lowering rates soon. A CD locks in the higher rate for a long term v the money market which can change every day based on daily changes to rates.