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Joined: Sep 2011
Posts: 60,723
Campfire Kahuna
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OP
Campfire Kahuna
Joined: Sep 2011
Posts: 60,723 |
Inflation, and real estate prices. Any of the good folks on the 'fire have a workin' crystal ball? Mine is still in the shop.
What do you think, are land, and housing values going to keep marching up?
These premises insured by a Sheltie in Training ,--- and Cooey.o "May the Good Lord take a likin' to you"
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Joined: Jan 2004
Posts: 10,298
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2004
Posts: 10,298 |
Farm ground, at least around here, has been flat at best for the last few years.
Black Cows Matter!
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Joined: Sep 2011
Posts: 60,723
Campfire Kahuna
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OP
Campfire Kahuna
Joined: Sep 2011
Posts: 60,723 |
They are selling a farm not so far from on auction. Except for a couple of years in the mid eighty's, land is never worth what it takes to buy it that day.
These premises insured by a Sheltie in Training ,--- and Cooey.o "May the Good Lord take a likin' to you"
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Joined: Sep 2014
Posts: 3,453
Campfire Tracker
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Campfire Tracker
Joined: Sep 2014
Posts: 3,453 |
Places in the country are at a premium. In town, not so much.
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Joined: Feb 2006
Posts: 1,414
Campfire Regular
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Campfire Regular
Joined: Feb 2006
Posts: 1,414 |
Inflation doesn't change the value of property, it affects the value of currency.
As I have been telling people "the government says we have no inflation, it's just that the price of things keeps going up".
With twenty some trillion of debt, there is no way we are going to not have huge inflation at some point. The only way to get rid of that debt will be to inflate it away.
Jerry
Minnesota; Land of 10,000 Taxes
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Joined: Sep 2016
Posts: 1,313
Campfire Regular
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Campfire Regular
Joined: Sep 2016
Posts: 1,313 |
It's always a laugh watching people who's misconceptions about economics were formed in the 70s and 80s attempt to navigate a low rate environment The most likely case is inflation in the 1.5% to 2% range continuing for a long time, basically until the boomers die off. Periods of modest deflation are very possible.
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Joined: Sep 2016
Posts: 1,313
Campfire Regular
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Campfire Regular
Joined: Sep 2016
Posts: 1,313 |
Oh, and the debt doesn't in any way shape or form suggest inflation. Just look at Japan - they're basically a harbringer of what's to come for us economically since they had a pre-war baby boom while ours was post-war and they have about twice the debt we do measured by multiples of GDP. Their inflation has been zero since the mid 80s.
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Joined: Mar 2008
Posts: 15,638
Campfire Ranger
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Campfire Ranger
Joined: Mar 2008
Posts: 15,638 |
If you want a second, independent index of inflation, check out the MIT" billion prices project". just saying.
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Joined: Sep 2016
Posts: 1,313
Campfire Regular
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Campfire Regular
Joined: Sep 2016
Posts: 1,313 |
If you want a second, independent index of inflation, check out the MIT" billion prices project". just saying. It's a very poor metric since it doesn't take into account the prices of things not bought online, which includes the majority of most household's expenditures - food, transportation, housing, fuel etc. But of course you can expect inflation alarmists to look for any line they can find that's going up. The alarmists have had a bad 25 years of being completely wrong, but I'm sure it'll turn around for them any day now
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Joined: Aug 2005
Posts: 5,507
Campfire Tracker
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Campfire Tracker
Joined: Aug 2005
Posts: 5,507 |
This is a typical Internet conversation, with a multiplicity of different ideas.
Some of them might even be right.
"Live like you'll die tomorrow, but manage your grass like you'll live forever." -S. M. Stirling
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