Loading ...That’s why Powell jacked up the rates and talked tough. The stock market started a rally in late September probably because everybody wishful thinking, were talking about the Fed would soon pause or flip on rates. So he had to show everyone who the boss is.
Also Real Estate Hoarding prices are only down very slightly. So even they were saying ha ha to the Fed and higher rates, “real estate is the king it always goes up”. And the apartment rents are still crazy high too compared to common masses salaries or wages. Let’s not forget about the towns and villages that are very generous pay and benefits with tax absorbing employees jacking up property taxes that alway outpace inflation.
like I said long ago the federal government will just have to give tax paying people more free money because their incomes lagged inflation, which that trend already started.
The system is a mess with too many people with tons of money, and too many people with none. The past 50 years the Rich get richer, and the poor get poorer.
Try to imagine if that trend is another trend that reverses. The Rich get poorer and the poor get richer. It won’t surprise me. The more you have, the more you have to lose. Unless the poor get richer and can buy your flipper house or pay your high rent so you can pay the mtg and property taxes.