Ya but that equity increase have meaningful value when the entire market is inflated? Because if you sell your house and get the inflated market value, I'm assuming you want to buy another home which also is going to be inflated. I'm not a homeowner so this stuff is pretty foreign to me.
I just realized that you could sell your home when you feel the market is at its peak before the crash. Rent a place a for a few months waiting for the crash and then buy a new home. I guess it all comes down to timing and feeling confident that the market will crash within months.
Yeah, high home prices is a double-edged sword. It helps make people *feel* wealthier, but they don't actually have any of that cash (and have to pay higher property taxes!). If the market stays high, you only cash out if you decide to downsize or rent. If the market comes crashing down, you then feel poorer even though it again had no impact. And, of course, if you don't own a home, it feels even further out of reach. I forgot to post commentary to my post - I didn't mean it all to say inflation's not an issue. It's just ... complicated. Inflation in general hurts savers and helpers debtors in the long run, so it actually helps with wealth inequality issues, though it hurts those debtors who likely live day-to-day in the short term. But it also picks other random winners and losers - like homeowners, etc - which isn't good for society. All around, I just thought it was interesting that we've entered this bizarro national mood of "everything's horrible for everyone else, but I'm fine".
LOL. I do wonder if you actually believe your hyperbole or you are just doing a bit.... The irony of course is that the deregulation under Trump caused a massive supply glut which led to the worst oil bust since the 80s and a couple of hundreds of thousands lost their jobs in the bust. All pre Covid...... Oil begins 2019 with losses amid oversupply, weak data U.S., Canadian oil company bankruptcies surge 50% in 2019: report
So back in the early 2000s and going forward Democrats have been advocating renewable fuel sources, reduced dependence on gasoline, and moving toward sources that would make us less vulnerable to fluctuations caused by other nations, etc. They were opposed by Republicans every step of the way. Had we united in the push, we'd be less affected by the situation regarding gas prices now, we'd be the leaders in industries providing the technology to other nations, we'd be in a position of economic power leading other nations toward the more sustainable way of energy and transportation. Because Republicans prevented any of that, we face the higher prices now, except those that were forward thinking enough to secure electric vehicles. So Republicans crying about prices forcing us toward renewable sources is a day late and dollar short. They've already screwed us over on this issue. Let's not let them to continue to do so.
That's true but a few things have to be considered. Investing in the housing market is driving up the market as it out competes home buyers who want to live in their home. The dynamics of the housing market make it very profitable to invest and rent out homes - far better than the return on the stock market. The supply in homes isn't increasing as fast as the need for housing. This is because home building still hasn't recovered from 2008 crash when many home builders went out of business. So for those reasons, even a recession is unlikely to change the overall longer term trend in homes getting more and more expensive. The other assumption you are making here is that someone would buy a home in the same market. More likely, if you sold your home in one market, you'd buy a nicer home in a different market that gets you more home for your $. But if you stayed in the same market, yeah, you end up with a much bigger mortgage and higher risk in the short term.
the US has been funding solar/wind boondoggles for decades. Solar and wind are unreliable and can in no way provide the baseload necessary for the world's energy use remember Solyndra? the left is obsessed with the idea of a mass forced conversion to renewables, they don't care how many eggs they have to break in the process
Actually Solynda was an outlier. The funding has been quite successful. https://whyy.org/articles/the-obama-solar-success-story-that-nobody-talks-about/
Too bad we didn't move on that at the time. Imagine not being in the financial hardship we are in now regarding fuel. Of course there were more opportunities specifically related to vehicles that would have us in a far better position now. Too bad the push was hindered by those on the right. We're seeing the fruits of the shirt-sightedness now.
The technology wasn't there and still isnt there to use renewables as an only source of energy. This has been the flaw in the leftist push. And Elon Musk, who has renounced his leftist party, has been the leader hands down in this push. Yet the leftist continues to attack him because he refuses to lock-step in their other idiotic logic. Further, we have a global energy issue. This isn't a Republican/Democrat thing. There are other countries in the world besides the USA who have an impact on all commodities. Countries shutting off nuclear and refusing to explore it is causing massive issues globally.
Electricity is also expensive AF right now. Gas is expensive, power is expensive, life is expensive in Biden's America.
The technology grows when it gets investments. Had we been more actively developing it, it would be further along.
Frequent use, yes. But there are free charging locales outside of your home. Furthermore, electric bills aren't paid every time the car is charged. The bills still come with the same regularity as before.
Why the hell does that matter? If it's expensive to charge, it's expensive whether you pay at a pump/charging station or at the end of the month. Plus, the old days of handing the gas station a cashier a $20 to fill up are long gone, most pay with a credit card that gets billed monthly. I would argue expensive power is a BIGGER problem than expensive gas. Gas is for your car, but power is for your car and your home.
It should be noted that oil companies are one of the biggest reasons that there are no more nuclear plants being built in the US. Blaming leftists is always an easy scapegoat. But the reality is that oil companies lobby vigorously against any effort to promote nuclear power. Elon musk was criticized for his worker conditions and his tax to wealth, not because of his ideology. Musk saw that he might get taxed more and went Republican like many rich people do. That's what drove his decision, anything else is bs mirage. No renewables shouldn't be the only source of energy, but there should be more renewables and investment in that area. In nuclear too. I don't know many (any) liberals who say is renewables or bust.
And denying climate change and pushing to keep the status quo has been the flaw in the rightist push. The War on Coal was really about how domestic coal production moved from traditional areas in Appalachia and the Midwest to places like Wyoming. Along with how natural gas has displaced coal in many regions, like Texas Renounced it after taking all the subsidies he could grab. I didn't realize Elon pushed for all the wind energy in Texas..... The vast majority of renewable energy in America has nothing to do with Elon. You conservatives blasted Obama for Solyndra and Tesla at the time. Why do you conservatives idolize and worship Elon? The left turned on Elon because he is just a petulant, entitled, taker. The right idolizes Elon for his rhetoric. That's true. Along with the fact that the Russian invasion has disrupted markets. The US isn't Germany or Japan so their issues aren't really the US's as looking at a map should make it obvious. Neither Germany or Japan have the fossil fuel reserves or the renewable energy potential as the US. Biden has pushed money into keeping aging nuclear power plants competitive with the newer gas power plants while pushing policies (post Russian invasion) to make export more US natural gas.
