/biz/ - Business & Finance

[Anonymous No.54060321]

I know 2 people in my neighborhood who applied for loans and got projects started over the last year in the hopes they could flip their house for absurd amounts of money. They literally and unironically thought line would go up forever. They're not alone. I have friends who are contracts and they're still getting requests to remodel homes from people who think some gray flooring and stainless steel will magically make their house worth another $100k.
I'm not happy about what's happening right now, but it has to be done. Line can't just keep going up and people need a hard reminder that reversion to the mean is real.

[Anonymous No.54060362]

>>54060321
I'm happy about it.
Fuck rentiers.

[Anonymous No.54060508]

>>54060321
My coworker bought his house in 07. It's just now worth more than he paid. He just signed the papers to finance an addition. I just shake my head and laugh.

[Anonymous No.54060592]

>>54060321
Based
>>54060362
Based
>>54060508
Based

[Anonymous No.54060750]

>>54060321
>Line can't just keep going up and people need a hard reminder that reversion to the mean is real.
which mean bro? 2008? 1990? 1825? the line always goes up

[Anonymous No.54060808]

>>54060321
>be me
>test engineer
>day in the life
>wake up
>oh shit I'm late
>skip breakfast and bathing
>brush teeth though, gotta have my fluoride
>get to morning meeting just in time
>other guy already unlocked the trailer
>finish meeting
>post on corporate social media what I'm doing today so boss doesn't yell at me (i always do the same thing)
>we turn on machinery,
>our test plan is immediately interrupted by an engineer or two who want to put more code on the machine.
>mr engineer (it's always a man, no women ever wants to put code on the machine.) New code will invalidate all testing because it will be a new development version!
>we have been fighting this battle for a year, engineers do not care, they will change a hardcoded magic number 20 times a day without telling testing.
>sure engineers you can do it.
>we have to, management wants development to have priority over testing.
>Piss around trying to make retard surplus corporate computer turned minecraft server boot until engineers are satisfied.
>set up table outside in testing environment
>engineers call back because they arn't happy with their change.
>let them change whatever it is they fucked up
>they have claimed they are done
>testing can begin
>test for an hour.
>it's lunch time
>i always pack a lunch the night before but my coworker never does so he goes to get goyslop.
>company actually pays for food for office workers but we are 100 miles away at the test site so we never get food.
>I review test data as I eat. This bit is pretty relaxing and Nice, I like this part.
>insurance fuckers calling me to try to get me to buy "critical disease insurance" I answer and tell them to email me, then hang up.
>my coworker comes back angry he's not getting paid today because SVB bank collapses
>he's bad with money and can't pay his rent now.
>I don't care really, I have no need of money I can always neet or be homeless, I just save up and buy land.
>report 1-2 bugs normally
>go back to testing

[Anonymous No.54060807]

>>54060321
Damn, you faggots are awfully concerned with other peoples money. Here’s my latest flip, went cash flow positive a year after I bought it, just sold it to the retard rent cuck lol. Enjoy your poopcoin or whatever it is you retards invest in, lol.

[Anonymous No.54060823]

>>54060807
Invested zero dollars in it btw

[Anonymous No.54061028]

>>54060808
day in my life cont...
>some engineer pushed bad code over lunch and broke everything
>dead in the water for an hour
>20% odds our boss wants to have a meeting about nothing
>today they don't.
>talk about pig racing and gambling with equipment operator.
>we turn off a safety checking feature on the equipment so it can run.
>we notify saftey team to cover our asses
>safety team is too retarded they think this is fine.
>resume testing at like an hour and a half past lunch
>50% odds something breaks immediately.
>if nothing breaks this is a successful day of testing and we report a few more bugs.
>if something breaks we normally call an engineer, feel guilty for doing so little and twiddle our thumbs/look at engineer code and giggle as a local engineer shows up on site to have a proper look.
>5% odds every day to get into argument with management about how to measure/record a number
>they are always very glad I'm thinking about it
>they still hate me.
>coworker submits bug tickets
>I proofread customer manual
>proof read user documentation
>I hate legal english, it is a different language and masquerades as a language Normies speak to stab them in the back
>corporate goals are literally eliminate all humans
>I make small note that this is impossible because a human still dictates automation and therefore this system is not completely autonomous.
>corporate misses the point and makes promise we will automate automating the machine.
>daily update meeting
>managers complain about not being told/too many managers.
>Close up lock up
>maybe run errand
>go home
>play Video game
>read about web scraping
>check on plants
>write table top wargame rules for friends.
>research land,guns or machines I want to buy.
>pig racing sounds cool so I look it up.
>make dinner/lunch for tommorow
>plan for weekend
>play Vidio game With friends.
>sleep

Life isn't that honestly that bad, Just a bit lonely sometimes.

[Anonymous No.54061063]

1-3 month CDs are above 4%, some even higher so the rate hikes, aside from cutting inflation overall, have made it so that your effective inflation on assets should be like 2%, totally normal.

[Anonymous No.54061080]

>>54060750
I know this is bait, but if you do an exponential regression on home prices you find that we are above the trend line. We need to go down below the line to "get back to the mean"

[Anonymous No.54061188]

>>54061063
Problem with the Silicon Valley collapse is that now you need to worry about CDs being stuck in FDIC limbo forever AND short term treasuries yielding about the same might also default if the GOP goes full retard, which seems very possible.

So now you can't just roll on auto, I am going around diversifying a bunch of similar yield short term CDs which takes time, and that pisses me off.

For long term savings though, the rate growth is pretty sweet. Institutions need liquidity and they are selling decent rare bonds for way under face value and in all likelihood those bonds will be a good value for most of the coupon and become liquid again when rates fall.

I also got loaded up on I bonds with my kid's and wife's SS number and mine. Maybe not huge difference vs TIPS but people who poo poo them are dumb. You can get your coupons after two years, just forgoing the last one if before maturity and you're getting awesome interest rates for a good deal of that at the very least.

I think the jobs report just shows how much slack there is due to low labor force participation. Inflation will moderate but stay high for a bit on tight labor.

Still, something is very fucky here. "Labor shortage" but real wages are dropping and until recently corporate profits were tearing it up even with a huge payroll bloat in tech. Inequality sparing is generally a sign of distortions and it looks like 2011 in that respect.

I am surprised more big corps haven't started collapsing due to being unable to roll debt at low rates to be honest. The debt/GDP before the pandemic was at record highs and a lot was spent on debt funded dividends and buybacks, nothing useful for revenue generation.

[Anonymous No.54061316]

>>54060508
When I read this comment I shake my head...in disbelief.
First, he's living in it, and such, value is secondary to its real worth which is ITS HIS FUCKING HOUSE that he lives in...additions are a guarantee to increase its value both nominally and to the family.
Second, all you kids bitch about housing prices going up, yet you never want to start at the bottom (hint: they call them 'starter' homes for a reason) and watch that starter home go up, and you sell that to move on to a bigger better house..see how that works?
Damn...you kids are a terrible combination of impatience, envy, greed and lazy stupidity.

[Anonymous No.54061337]

>>54060321
it's amazing that people would still take out construction loans after the fed has been very explicit with their rate hikes. no sympathy at this point thin the herd

[Anonymous No.54061351]

>>54060807
I mean before taxes maintenance and property transfer fees that's only like 15% compounding over 8 years. My dividend portfolio does way better than that and I don't need to worry about it being robbed or buying insurance for it.

[Anonymous No.54061435]

>>54061316
> Starter homes
The interest rate cycle has fundamentally changed.
You can't but and build equity from appreciation now.

[Anonymous No.54061476]

>>54061028
Should become an industrial manufacturing test engineer, now that’s fun

[Anonymous No.54061498]

>>54061435
i ran the numbers in my big autistic spreadsheet and assuming a 1% inflation-adjusted rate of return (appreciation) you would have to hold for something like 6-7 years just to break even, due to selling, moving, and overlap costs. i think the idea of a 'starter house' is just another meme rooted in the total financial illiteracy of the average debt slave normalnigger retard.

[Anonymous No.54061519]

>>54061316
Grampa, what fucking year do you live in? There's no such thing as a starter home anymore. Even shitty 2 bedroom houses with no yard are going for $300-400k, or are being rented out for $2000k a month

[Anonymous No.54061532]

>>54060808
>>54061028
Sounds like the perfect way to ruin your life is to add a woman into the mix

[Anonymous No.54061548]

idk, i think you just hate your neighbors

[Anonymous No.54061570]

>>54061548
I mean, sorta. Rich fucking boomers and out of state people moved in during the pandemic and instantly wanted to take over the place. They shot up housing prices and act like they're better than other people because they come from rich parts of long island, or were remote workers from Boston. They acted like they were Prometheus gifting fire to the plebs for gracing us with their presence.

[Anonymous No.54061591]

>>54060808
>>54061028
Why are you telling us this?

[Anonymous No.54061600]

>>54061591
4chan is a safety nest. He can open up here. You can too, I'd you'd like.

[Anonymous No.54061707]

>100,000 years ago
>$0/acre
>10,000 years ago
>$0/acre
>1,000 years ago
>$0/acre
>100 years ago
>$10/acre
>10 years ago
>$95,400 an acre

I have calculated the mean. It is $250,000 a lot. Do with this information what you will; you won't.