"Inflation is coming down"

[Charles West]

what type inflation is hurting cities to, but look at the real cause

The City of Oakland is cutting $63 million in spending to keep the lights on, $45 million of which is coming from the public safety budget, in a city where violent crime rose 237%, and property crime rose 70% between 2022 and 2023. “For those $63 million cuts, $45 million of those cuts are police and fire.
California Department of Justice data for Oakland says for 2023, compared to the year prior, reported violent crime is up 237%, robberies up 40%, aggravated assaults up 336%, property crime up 70%, burglary up 44%, motor vehicle theft up 214%, and larceny is up 31%.

Welcome to poor quality of life inflation, you big city dems.

San Francisco and Oakland are both headed towards insolvency, Democrat goverance fails everytime its tried.

 

[OSU Beavers]

 

[Elliott]

Larry Kudlow, Sen. Ted Cruz, Rep Rick Scott (10/29/24):

"So, I've got three numbers from today's Wall Street Journal op-ed by Sens. Ted Cruz and Rick Scott, on the Biden-Harris affordability crisis — on wages, cars and houses. First, consumer prices in U.S. cities have risen 26% faster than private-sector wages.

Second, a family in January 2021 paid, on average, $11,579 to own a new car, and coverage of related costs for the year. Today, that same car and related costs totals — $15,337. That's a 32% price hike.

The third number is the cost of owning and living in a home — $19,119 a year in early 2021 has now jumped to $36,736. That's a 92% hike.

And let me sneak in a fourth number from the senators: The annual cost of owning a new car and new home is 70% higher today than it was four years ago."

 

[Fernando]

Larry Kudlow, Sen. Ted Cruz, Rep Rick Scott (10/29/24):

"So, I've got three numbers from today's Wall Street Journal op-ed by Sens. Ted Cruz and Rick Scott, on the Biden-Harris affordability crisis — on wages, cars and houses. First, consumer prices in U.S. cities have risen 26% faster than private-sector wages.

Second, a family in January 2021 paid, on average, $11,579 to own a new car, and coverage of related costs for the year. Today, that same car and related costs totals — $15,337. That's a 32% price hike.

The third number is the cost of owning and living in a home — $19,119 a year in early 2021 has now jumped to $36,736. That's a 92% hike.

And let me sneak in a fourth number from the senators: The annual cost of owning a new car and new home is 70% higher today than it was four years ago."

What sources from the op-ed regarding these stats?
I can say Tesla is cheaper now than 2021.
Where home located in getting those percentages.

 

[shrubberyvaluation]

View attachment 92888

You mean you don't have to vote for it to find out whats in it?

 

[Dublin ohio]

What sources from the op-ed regarding these stats?
I can say Tesla is cheaper now than 2021.
Where home located in getting those percentages.

Here you go Fern. In Jan. 2021 the median home price in the U.S. was 285K. Interest rate 2.65%. With 20% down PI would be $919. Same loan at Jan 2024 rate of 6.64% equals PI of $1462. That in itself is a 59% monthly increase. But the additional problem is that in Jan 2024 the median home price was $409,000 resulting in PI of $2101. Don't forget that taxes and insurance have also gone up as well as the cost of utilities and maintenance.

 

[Terrel L. Shields]

What sources from the op-ed regarding these stats?

Housing was Wall Street Journal info

In 2021, the average annual cost to own and operate a new car was $9,666,
The average price of a new car in 2024 is around $48,397, which is a 3% decrease from the peak of $49,929 in December 2022.

Source - KKB (Kelly Blue Book)
2024 Tesla Model 3
The average cost of owning a Tesla Model 3 for five years is $52,970. This includes:
Depreciation: 46% of the total cost, or $24,499
Insurance: 28% of the total cost, or $14,835
Fuel: 16% of the total cost, or $8,482
Interest: 3% of the total cost, or $1,817
Maintenance: $363 per year on average for the first five years

 

[Fernando]

Here you go Fern. In Jan. 2021 the median home price in the U.S. was 285K. Interest rate 2.65%. With 20% down PI would be $919. Same loan at Jan 2024 rate of 6.64% equals PI of $1462. That in itself is a 59% monthly increase. But the additional problem is that in Jan 2024 the median home price was $409,000 resulting in PI of $2101. Don't forget that taxes and insurance have also gone up as well as the cost of utilities and maintenance.

I'm still trying to figure out the truth that 2021, median was $285K and 2024, median is $409K. That's like a 44% increase.
No way even in Bay Area prices increased that much.
We're you get these figures.
Otherwise, rest of nation home prices have risen too high and wouldn't be surprise for a downtown back to reality.

 

[Dublin ohio]

We're you get these figures.

It's called the internet

No way even in Bay Area prices increased that much.

You're right. They have barely held their own. 2021 $1.2M. 2024 depending on the source $1.2-$1.4M. Estimates are that it will drop to $1.1M in 2025. Houston we have a problem. It's not a rest of the country problem. It's a San Francisco problem

 

[Fernando]

It's called the internet


You're right. They have barely held their own. 2021 $1.2M. 2024 depending on the source $1.2-$1.4M. Estimates are that it will drop to $1.1M in 2025. Houston we have a problem. It's not a rest of the country problem. It's a San Francisco problem

In Silicon Valley, $1.1 million is for entry level homes. Even I am amaze in "lower" income areas, prices are like $1.5 million.
And prices haven't really increased that much since 2021.