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bigredfish

bigredfish

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Forget CPI: Inflation In Necessities Has Skyrocketed Since 2020
Forget CPI: Inflation In Necessities Has Skyrocketed Since 2020 | ZeroHedge

When mainstream economists and politicians cite “improvements” to the inflation problem in the US in recent months, what they are commonly referencing are changes to the Consumer Price Index (CPI). However, the CPI is not a measure of total inflation, rather, it is a median snapshot of prices at a particular point and time. True inflation is cumulative – A 10% increase one year and a 5% increase the next year is not a win, it means that you are now paying 15% more on average for everything you buy in the span of only two years.

When CPI falls this does not mean that prices on goods and services are going down, it only indicates that prices are rising slower than they were the month or the year before.
 
Sybertiger

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gwminor48 said:
I'm so thankful I'm not in need of a mortage.

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I wonder how some who are just starting off with a new home would feel about 9% or higher like many of us dealt with when purchasing a home when we were first starting out. I was at 9% and I know others who had higher rates.
 
TonyR

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Sybertiger said:
I wonder how some who are just starting off with a new home would feel about 9% or higher like many of us dealt with when purchasing a home when we were first starting out. I was at 9% and I know others who had higher rates.
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Not only that but property taxes have skyrocketed in many places so the local gov't. can fund so many useless projects and hand money hand-over-fist to every "disadvantaged", whiny group that comes along with their hands out.

I know of a modest, average sized, single story 40 year old home in San Jose, CA in a nice neighborhood that probably cost $60K when built in 1980 that is appraised now at $1.5M and the owner pays....brace yourself.....$20K in property taxes annually.

The fact that it's in CA should speak volumes about why most of those tax increases have occurred. Thank you, Lord...for getting me outta there in '04.
 
David L

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Sybertiger said:
I wonder how some who are just starting off with a new home would feel about 9% or higher like many of us dealt with when purchasing a home when we were first starting out. I was at 9% and I know others who had higher rates.
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9.5% for me. I was able to pay off my 30 in 22 years...the mortgage company came up with a plan, instead of paying monthly, we paid every two weeks, 26 payments a year. I think it started out where we paid an extra $40 a month. Anyway, we paid it off in 22 years...
We looked into refinancing but instead of starting a new 30 year loan to save monthly, we passed...plus I think they wanted 2 or 3 points up front to get a 6% loan...glad we passed. There is a huge satisfaction in paying off a house mortgage...
 
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