I am starting to believe that they are right that the inflation will be transitory. However transitory means "not lasting" and we are talking inflation, not prices. The price rises that we have seen I doubt will drop all that much if any. My house value is up easy $50K and I don't think that is going away. Our streets here in Phoenix are full of cars with CA, WA, and OR plates. Gas prices are up 50% and I don't see that going down since we are killing our oil production as fast as we can. Same for prices at the grocery store. California has no water so no veggies from them from now on. So while inflation may be transitory the middle class and lower took it in the shorts again with a new level of pricing. They are the ones least able to cope.
Next comes taxes. I don't care what they say, raise taxes of business and that tax will trickle down into the price. So again the poorest get hit the hardest, but that is what most people voted for. Jamie Diamond and Warren Buffett were all in for higher taxes.
But hey, just like Jamie and Warren, I am having a very good year in the market. I don't expect to need a new car for 10 years and already have my house exactly how I want it. So I am set, but a lot of young folks out they are going to struggle.
The American Dream can never be realized until one can own a house in my opinion. I have been buying, selling, and building homes for 40 years and it has been good. Stock market is good, but real estate is a close second if not first.
Trade the Charts and not the Heart - Expect the trend to
continue until it doesn't - Realtime is the real deal
