These statements about transitory inflation are bs, it is INFLATION!

El OchoCinco said:
Personally unloaded half long term stock portfolio and moving into real estate...
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Really! You are heading into real estate while mortgage rates are at multi-year highs! Are you getting into the mortgage space, or the physical real estate plays, owning property?
 
UsualName said:
Nah. We are still chugging along. Mind you now that quote of mine was 3 months before Russia invaded Ukraine. I see a lot of people patting themselves on the back as if they knew Russia would invade Ukraine or that the Russian invasion had no effect on Ukraine. The truth is that the Russian invasion exasperated the inflation situation. I don’t fault myself. That was the correct analysis 3 months before the Russian invasion. Now a global reset is pushed out and the Fed is going gung ho. Dollar is probably near peak strength with every other CB pushing up rates. As @Tsing Tao liked to mock me “transitory for longer” is pretty accurate. Food will probably push inflation higher over the next few months, auto and travel too.

As for Me, I’m just sitting here waiting for the bottom. July- August ish, if not sooner I think but we are very unstable times and lots and lots of things are uncertain. Who knows.

Im not sure what you “nailed” though. Perhaps you would like to share?
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Inflation was aggressively trending higher before ukraine. that is no excuse.
 
Overnight said:
Really! You are heading into real estate while mortgage rates are at multi-year highs! Are you getting into the mortgage space, or the physical real estate plays, owning property?
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Physical real estate.

Purchasing rental properties in high rent areas. rents do keep in line with inflation even if mortgage rats slow down proeprty values, but I am not looking to flip it, I am looking to rent it out for the next 20 years. I closed on one property where rents are the highest they have ever been and the area has a strong demand for apartments due to location (location is a driving force). Even if rents drop 20%, I am still very cash positive.

Rising rates only matter to me if I wanted to flip this in a year because of course value will take a small hit but not if the area is strong in demand. I moved money out of stocks to buy with cash so I have no debt (interest rates dont matter anymore). As long as rent stays strong, it is a cash producing investment which I cannot say for stocks over the next 6 months to 1 year perhaps...
 
Overnight said:
Really! You are heading into real estate while mortgage rates are at multi-year highs! Are you getting into the mortgage space, or the physical real estate plays, owning property?
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Mortgage rates are not really that high. Are you fucking kidding me?
 
wildchild said:
Inflation was aggressively trending higher before ukraine. that is no excuse.
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Here’s the truth, globalization kept prices low for a couple of decades and de-globalization from Covid will keep prices high.

If you don’t understand this then almost anything you think we should be doing is wrong.
 
wildchild said:
Mortgage rates are not really that high. Are you fucking kidding me?
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They are not that high relative to where we have been like back in lare 1990s (I think first property i got at 7.5% in '99 and had to keep refinancing down as rates dropped).


4-5% right now is normalish. I am buying in cash because mortgages for investment properties are a huge pain in the ass....
 
Joe Biden promised a windfall profits tax on oil companies. The US oil companies are not going to pass that tax increase on US consumers, right extreme liberal ET trolls? So, you fools go back to sleep----you got nothing to worry about. There is no inflation and Joe Biden can do nothing about it per his claim. So, suck it up and just pay up!
 
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