Perhaps the BEST B1G Forum anywhere, here at College Football Fan Site, CFB51!!!

That's sure to ruffle some feathers here.

Well, I've lived through a lot, and when I was 20 or so, I tended to think everything was MAJOR MAJOR MAJOR, end of the world kind of stuff.  OMG and all that.

Then, five years later, meh.  Life goes on.

The first loan for which I applied had an interest rate of 17.5%.  Gas cost about the same as today adjusted for inflation.  We were in a double dip recession.  Some movie star was President.  The russkis were rattlings sabres.  Meh.

actually this happened under the Carter Admin and the Gipper helped put the USA back on top

I personally do not think it really matters, nor do I think Biden is responsible for everything that goes bad here.

Not really blaming Biden for China and India both moving away from the US, but then again he does not appear to be helping matters much there.

Saudis moving away from US is a huge deal, and I can pretty much guarantee you in the 70+ year relationship with the kingdom- you've NEVER had a Saudi ruler refuse to pick up the phone when an American President called. That is shocking. And it's 100% the fault of the guy in charge. And it is a pretty huge deal so long as they are an extremely close US ally/client state, the entire world economic system is tied to the US dollar, the world economy/economic engine is run on crude oil and the US dollar is tied to crude oil, and the Saudis reign supreme in the world of crude oil.

oh man this is so true lmao....you can also add US mess up - they wind up on cable news 


https://twitter.com/MaxAbrahms/status/1506738826806444040?s=20&t=LtOUnB2HtUFYkSMfVvOZZg

Well, I've lived through a lot, and when I was 20 or so, I tended to think everything was MAJOR MAJOR MAJOR, end of the world kind of stuff.  OMG and all that.

Then, five years later, meh.  Life goes on.

The first loan for which I applied had an interest rate of 17.5%.  Gas cost about the same as today adjusted for inflation.  We were in a double dip recession.  Some movie star was President.  The russkis were rattlings sabres.  Meh.

Eh... I'm with you, and I'm not... 

Climate change might not be a big deal. In fact, it might be beneficial. But those who don't worry about it discount the fact that it could also be an extinction-level event. I.e. not that every human on earth dies, but it destabilizes our entire ecosystem to the point where 95% of species go extinct and [a small number of] humans only survive because we have big brains. 

Most of politics is transitory and meaningless in the long-term sense. But the stability of the petrodollar and the USD as the world's reserve currency is important, and losing that would cause a worldwide financial destabilization probably unlike anything the world has ever seen, given how advanced and interconnected we are. 

It's easy to think "five years later... life goes on" because nothing for most of our lifetimes has threatened that... That doesn't mean it won't happen. It doesn't mean it will, either, but discounting the idea that it won't isn't giving the black swan type events their due. 

Yeah... Have incomes gone up 100% in the last 5 years? Enough to justify prices going up 100% in the last 5 years?

What happens to that market if there's a recession?

Agreed with you that it's a great time to build spec homes. Disagree with you that it's a great time to be holding the mortgages on those spec homes.

with the housing market, it's simple supply and demand. there is literally no supply meanwhile there is huge demand in places like Texas and Sun Belt as people are fleeing California and the Midwest and Northeast in record numbers.

And I'd say we're kind of in a recession right now and still recovering from COVID, forced shutdowns, supply chain disruptions, 40-year record inflation- and the home prices still surging. 

Housing market being hot right now is for completely different reasons which caused the crash in 2008. People aren't getting phony loans, the system isn't being rigged like last go 'round. People are paying straight cash homie, private equity is more involved than ever in purchasing single-family homes as well, and if people are taking out loans to purchase homes they're putting size-able amounts down- banks aren't just lending to anybody with a first and last name and pumping out garbage loans.