FED left rates unchanged

[Fernando]

So, you think someone who has been out of school 40 years is suddenly going to understand much of anything about a computer or coding? How delusional is that? Most men I know who do manual labor over 60 with degrees for the most part, spend very little time with computers and most certainly not coding. They might surf their smart phone, or work the TV remote, but they are not programmers and by the time they get to that point, they are likely retirement age. You going to retrain a 50 to 60-year-old man for 4 years (without income) then he retires 3 to 10 years afterwards and coding is not as well-paying as mining or some skilled manual position. And once you destroy an entire industry that supports a town, there isn't many jobs in that town left. So, you are forced to move from the home you may have known for 60 years.

I never said to get a coding job. Remember I said entry coding jobs easily done by nonAmericans at lower prices. Even hiring coders from Puerto Rico is cheaper than from US.
Learn a new skill like plumbing, electrical, and such which will always be needed.
When obsolete jobs are gone, look for new opportunity jobs.

 

[Tom D]

Discount store giant Big Lots has announced plans to close up to 315 stores nationwide as financial issues put pressure on the embattled retailer's future.

According to a July 31 filing with the U.S. Securities & Exchange Commission, the discount retailer said it could close as many as 315 stores as part of an update to its loan terms. That is up from the 150 store closings the company originally announced two months earlier.

 

[Zoe]

For an appraiser's standpoint in appraisal?

I would like if FED cut borrowing rates 1/2 percent to banks.

Mortgage rates have dropped in anticipation.

1/4 percent will be good .

The FED Reserve Bank hit inflation hard. Like a sledge hammer hard.

 

[Zoe]

Look at this chart how hard Fed Reserve Bank hit inflation:

Federal Funds Rate - 62 Year Historical Chart

Shows the daily level of the federal funds rate back to 1954. The fed funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight, on an uncollateralized basis. The Federal Open Market Committee...

www.macrotrends.net

 

[Zoe]

I understand the money supply thing and FED jacking rates to shrink money supply in order to slow inflation.

 

[Zoe]

I think they should call special meeting and cut it 1/4 percent. Maybe another 1/4 percent by year end. Just my opinion.

If all your investment is in cash, you may hope they raise the rates.

 

[Zoe]

you know what blows my mind locally on single family residential?

It blows my mind that prices are remaining stable at higher interest rates.

Your talking about millions and millions of dollars in interest involved and yet the prices remain stable in many areas.

It amazes me.

 

[Zoe]

I don't think it is that way everywhere. I think some people are having problems moving single family housing in many areas in USA. Like they are underwater. It's hard to move a house when your underwater on it.

 

[Zoe]

This chart is pretty good on single family home sales:

Existing Home Sales - Charts and Data

Existing Home Sales report on the number of completed real estate sales transactions on single-family homes, townhomes, condominiums and co-ops.

www.mortgagenewsdaily.com

It is still strong.

 

[Zoe]

It is definitely on decline on single family sales since about May. Looks like May is when the big decline hit in home sales. Boomed in about 2020.