Oso planning to go pro
#1 is no doubt true. #2 has been, but commodity prices topped out in June and the slowdown that interest rate hikes portends will bring them lower still. #3 is true, but again, hikes in interest rates will make the pool of potential buyers smaller. So (imo) one pushing prices lower, one having no effect and one supporting prices (but not to the extent that it had been). I think prices will pull back for the near and intermediate term.
Concerns about a potential railway strike?
MuggsA rail strike would cause serious issues. Anyone not concerned is delusional.
MuggsBased on my internet communication, I am going with delusional, followed by lack of sense of reality.
I think home prices will continue to rise, but more slowly. With interest rates the highest they've been in a generation (think about that) that should slow the average buyer, and will continue to put upward pressure on 'starter homes'... since people will continue to look for 'deals'... especially for investment reasons.So We have:1. Interest rates pushing prices downward2. Materials cost pushing prices upward3. Inventory pushing prices upwardThe number one thing that a lot of people forget is the continued urbanization of the US population. Single family homes can continue to be built, but they will continue to be built further and further from urban centers. Which goes contrary to what people want. What does all of this mean? Who can afford new housing in desirable places? People with a ton of money who can subvert interest rates by paying cash. Buy real estate in urban centers in cash and charge rent to people who want to live in those places but have been priced out of ownership by high prices and high interest rates. With rental prices continuing to rise, they'll be perpetual renters spending 30-50% of their income on housing. I've been saying this for a couple of years now, but we are well on the path to Neofuedalism. Unless the US promotes legislation that stops investment firms from owning and renting homes, condos, and apartments in large numbers we will run into the same problem that Canada has.https://financialpost.com/real-estate/investors-own-nearly-a-third-of-homes-in-major-canadian-markets-2
Solidarity with the workersHopefully the government does the right thing
Aren't there 12 unions or something involved? Apparently Amtrak is canceling long distance trains in Oakland on Fri.
Whenever I find myself a little overwrought and beaten down by inflation, I quietly sing this little ditty to myself:"Oh, I've seen fire and I've seen rainI've seen lonely times when I could not Find a friend."And everything is suddenly better.
Strike averted. Glad the administration brokered a deal - at least in the short term.
A bit more details here: https://www.nytimes.com/2022/09/15/business/rail-strike.htmlHere's the reason there was a proposed strike, primarily:
I wonder what the parameters are of that. Cause obviously that scenario is unquestionably BS. But my BIL was an engineer for one of the major rail companies and his schedule was much like an oil rig worker. He'd be on a week, off a week. On 10 days off a week, or situations like that.
Agreed. Obviously anyone can post what they want on social media.There have been a few interviews of rail workers explaining the situation over the last couple days. I'll see if I can find any