[astroid]

I think a lot of people are probably not exactly thrilled about the 'extra' provisions for "first generation home buyers" (meaning the parents didn't own one).

In the current political climate, with the current border policy, that sounds an awful lot like a two-tier entitlements system where the more significant help will go to 'illegal immigrants', 'asylum seekers' etc.

https://abcnews.go.com/Politics/harris-propose-25k-payment-s...

Also $25,000 really doesn't mean much when the entire housing market is set to double or even triple when you look at the last 5 years and project into the future. If your mortgage is still going to be $2,500 for a run-down house that would have cost $40,000 25-30 years ago but it's more like $400,000 and rising now... it's not exactly the 'lift' I think most people want.

Honestly as someone who has been scrimping and saving to try to buy a home for the last 6 years, I would be somewhat annoyed if suddenly every broke first generation person is thrust to first in line for the limited housing supply we have, driving prices up further. The fact that it is specifically structured to exclude people with roots here is kind of a slap in the face -- there is no reason it shouldn't just be tied to income, so suddenly it is needlessly political.

My point isn't really to argue the merits of either approach though - just wanted to give you some insight into why as a 'first time' but not 'first generation' potential home buyer I find her plan to be a short-sighted attempt at grabbing votes. Not that it matters now - clearly there is a mandate to swing the opposite direction we have been going.

I'll also add this though: Under the last Trump presidency, I made literally 50% less than I do now (thankfully got a solid 50% bump right before covid happened) and I had MUCH more disposable income. It's crazy that I am longing for the days and economy where I made $60k and could go out AND save money regularly. Now I have to plan any extra expenses, I have moved back in with family to be able to save, and even without the $1,800 rent payment I am still behind where I was in the last Trump economy.

I can't be the only one.

[dickersnoodle]

>Honestly as someone who has been scrimping and saving to try to buy a home for the last 6 years, I would be somewhat annoyed if suddenly every broke first generation person is thrust to first in line for the limited housing supply we have, driving prices up further. The fact that it is specifically structured to exclude people with roots here is kind of a slap in the face -- there is no reason it shouldn't just be tied to income, so suddenly it is needlessly political

Yeah, this was my reaction to it as well. The only real way to bring down housing prices is to drastically increase the housing supply and find a way to prevent companies like Blackrock from snapping them up and leaving them empty to keep rental prices high. The "enemy within" is actually PE firms...

[astroid]

"The only real way to bring down housing prices is to drastically increase the housing supply and find a way to prevent companies like Blackrock from snapping them up and leaving them empty to keep rental prices high"

This is exactly the change that needs to happen - the fact that entire subdivisions of housing are being built specifically so these multi-national conglomerates can use them as an investment vehicle, AND all the existing homes are being snatched up by them is criminal in my eyes.

The most impactful thing anyone could do to improve the housing situation in this country is to prevent these operations from using single family homes as investment vehicles. I don't know the 'exact right' way to achieve this - but I'm certain the exact legislative language could be hammered out to make things better for EVERYBODY except the bottom feeders.

[cdelsolar]

Things are 20% more expensive now. How do you have less disposable income with 50% more money?

[astroid]

The economy is approaching great depression levels of 'bad' - and plenty of things have inflated 100% or more, 20% is more like the general 'average'. And plenty of those things are critical items, like laundry detergent, gas, and insurance.

I'll put it this way: When I was making $60k 5 years ago, a night out for two in my preferred 'fun time out' would be: $35 concert ticket x 2, $20 ride x 2(to and from show to avoid dangerous driving), $6 drink x 6/2 -- so a complete fun time out was roughly $140

Now the same concert venue and ticket is $85 x 2, the ride is $40 x2, the drinks (if you don't abstain due to the previous costs) are $14 x 6 and suddenly $140 turned into $354 (more than double). And honestly depending on the day or event that could be more.

This is just one example of how 'going out and enjoying life outside your cubicle' has easily doubled in cost.

You can zoom in on any portion of the economy and find similar. Laundry detergent isn't only up 20%. Gas isn't only up 20%. Insurance isn't up 20%. Groceries have easily doubled, regardless of which basket item you decide to focus in on to obscure that.

Great question though - How have they managed to crash the 'living wage' economy so badly that I either have to live like a broke college student with six figures, when I used to be able to go out weekly.

Averaging out the inflation across the economy doesn't really work for those of us 'making it' -- but if you already made it and the increase in price for laundry detergent, gas, food, or whatever else doesn't actually impact you I'm sure it's difficult to see how bad things have got.

I think you'd have to ask Biden or Yellen or someone in the outgoing administration exactly how they pulled it off though.

EDIT: This graph actually does a decent job of demonstrating that exactly what I experience was happening nationally: https://media.gettr.com/group28/getter/2021/12/14/02/c8e93c4...

The inversion happened in April of 2021 per the graph, and per my memory.

[cdelsolar]

I'm just wondering where in the country you live with those prices. When I used to go out _10_ years ago there's no way I would ever find a $6 drink. Right now a cocktail costs me $13-$15. 10 years ago, a cocktail used to cost me $13-$15. Gas is back to pre-covid prices.

I don't know. I've seen prices go up, but I honestly think people are exaggerating. I buy groceries and food too. I don't spend anywhere close to double what I did even 10 years ago.

[astroid]

Drink = Canned Beer @ one of the countries best music venues outside a major metro area.

I'm not going to be posting more details regarding my location on a public forum however.

"I don't spend anywhere close to double what I did even 10 years ago."

I bet you also have had to tighten your belt buckle to achieve that - if not, you are an anomaly.

Really though my anecdote about my personal inflation woes is not the point, and I just included it as an after thought to provide some context. The core message I am trying to convey is before that, and I don't see much value in comparing individual items in different geographic regions.

If you are genuinely as unaffected as you say, good for you - the only people I know who are in that position are retired already and insulated from changes more than most.

[cdelsolar]

it sounds like price gouging to me. The venue is more than doubling its price and charging you $14 for a can of beer. How is this Biden's fault, of all things?

Anyway, I'm relatively cheap so I always pay attention to prices. Eggs, milk, bread, chicken, etc have all gotten slightly more expensive. Nothing even close to double. I don't understand what people are buying.

[tfvlrue]

> I don't understand what people are buying.

I am also perplexed by this. As someone who obsessively tracks and categorizes all my spending, I have not observed a significant upward trend in my grocery spending. And I have data in a spreadsheet which confirms this. I'm honestly not sure what I'm doing so differently than the general population which perceives prices as skyrocketing.

While most goods are slightly more expensive, egg prices have been a notable outlier, which I believe was more an effect of culling due to bird flu rather than inflationary. If anything, the most notable cost increases I've observed are in restaurants and takeout places, not grocery stores.

It's entirely possible these costs are highly region-specific, so it's interesting to hear different takes on it.

[astroid]

"it sounds like price gouging to me. The venue is more than doubling its price and charging you $14 for a can of beer. How is this Biden's fault, of all things? Anyway, I'm relatively cheap so I always pay attention to prices. Eggs, milk, bread, chicken, etc have all gotten slightly more expensive. Nothing even close to double. I don't understand what people are buying."

This is exactly why I tried to redirect you to the core point of my message, instead of the 'addendum'. It was obvious you were looking for some 'leverage' to declare your perceived experience as the 'correct' one.

Now you have pivoted to 'inflation isn't really real, that venue is screwing you' because of zeroing in on one item. I can assure you, prices are similar throughout the city I am referencing. It wouldn't matter one bit which venue I chose.

Perhaps you are OK with staying home and watching every penny and never doing anything enjoyable in life that costs a few bucks. For the rest of the country, they are feeling it in their everyday lives - whether that is food costs, hobby costs, or whatever matters to them -personally-.

Under Trump we were doing demonstrably better. It took an immediate nose dive under Biden, and his entire administrations policies have made things worse - and most importantly, there is no sign they had a real plan to fix that, and it showed at the polls.

It's fine if you want to get hyper-fixated on the one statement you feel compelled to 'debunk' my lived experiences and observations, but that wont change the fact that entire metro areas are becoming either unlivable or pointless to live in unless you are making $200,000+ (in that you can afford the rent but not to enjoy the local attractions).

I'm glad you aren't feeling the squeeze, genuinely.

According to PBS / NPR roughly 60% of the country believe we are in a recession.

You can count me amongst them, because of my lived experiences. I'm not going to continue to quibble about what -I- am doing wrong budget wise accourding to your tiny little insight into my life which this comment provided.. and I think you'll find if you approach most anyone who has legitimate concerns in this manner you will have changed exactly 0 minds.

https://www.pewresearch.org/politics/2024/05/23/views-of-the... - 60% number from here

https://www.msn.com/en-us/news/politics/2024-exit-polls-fear... - exit polling showing the current economic outlook is WORSE than after the 2008 crash.

By all means though, if you are comfortable then I'm sure 60+% of the country who feels like they are living through something worse than '08 must bet making up things to complain about and hoarding their money secretly to plan an epic prank on... someone

[infinite8s]

You realize Biden took office in Jan 2021? The money printing started way before during Trump's time in office due to the pandemic, so you can't really blame the previous administration for inflation (which happened everywhere around the world due to COVID-related stimulus).

[rwyinuse]

Yea, inflation sucks. But it's not like Trump can fix the fact way too much money was printed during COVID crisis. The crisis should have resulted in a major economic depression, but instead we got a big party through stimulus. Now we're suffering from a hangover, and Trump can't change that.

[astroid]

Trump can absolutely reign things in, I don't think anyone thinks he can snap his fingers and 'fix' something broken this badly.

But yeah, he 100% can take a different direction than the administration that printed more USD than had previously existed in the entirety of the countries history.

'Trump can't wave a magic wand and un-do what the current admin did, so it doesn't make sense to change directions best to stick with the current administration that doesn't think there is anything they could or should have done different' is not the rationale for my position.

Just look at how the stock market responded today - clearly I'm not the only person who thinks 'this will position our economy much better than it is today'.