datlas 

In our area, there was about a 15-20% drop in 2008. It took about 5 years to get back to the pre-2008 level if memory serves.

big john

I've used mostly Rubino Pro tires for years. Since they started with the "Graphene" they seem to have a problem with dry rot. I thought it might be a bad batch but the more recent ones are still doing it. It's not an issue for the rear tire but the fronts have started cracking and separating before they wear out.

I guess I could rotate the front to the rear and wear it out but I don't think that's the answer.

Bah Humbug

That's a trendier but less swanky area than ours; ours is older and more with families and kids. We bought ours at 388 and it's currently appraised at 640. Wish we'd gotten bigger...

ls01

old phone lines used to use nitrogen to keep water out of the cased lines to stop corrosion. We (gas) use inert gas to "flush "out gas mains before welding. But that's why more than just a single bottle.

datlas 

I heard that a FOAF was doing the Asheville to Mount Mitchell ride (what I did yesterday) today with a group of a few other riders. So when mrs datlas and I went on a hike just off the Blue Ridge Parkway and saw some riders come by, I introduced myself and it was that group! Apparently some of them got pelted with painful hail towards the end of their ride. Ouch!!

ls01

It's been a year since I canceled selling my house and moved back in. I still get calls from desperate real-estate agents trying to get me to sell. The last one guaranteed me 300k. 2 weeks ago. The only people winning in this real-estate bullshirt are the agents and the tax collectors. This is going to end in another bubble.

big john

My friend sold his house a couple weeks back, he's moving to be close to the grandkids. He asked the realtor how much to list it for and was told $1.1 million. My friend was shocked, he didn't think it would be that high but people bid against each other and it sold the same week for just under $1.2 million.

genejockey 

Maybe, maybe not. This housing price inflation seems to be driven by limited housing stock, and limited housing starts. We've been building less than we need since 2008, and the Millennials are starting to want houses.

genejockey 

There was a woman down the street, long time resident, died recently. Her house was a 2 bedroom, 1 bath, probably about 1400 sq.ft. Lot less than 1/4 acre. Her house sold for $1.8 Million.

Mojo31

No shortage of housing construction around us. A friend of mine just developed a 900 acre neighborhood with 1600 planned houses. We drove through it a few weeks ago, and there were at least 50 houses under construction. No shortage around here!

Mojo31

In other news, NPAOTH:



And, knowing how much VV likes old cars and boats, I thought one of these would be a good fit for him -

Bah Humbug

As a matter of fact, many of us are well into our house-buying (remember, Millennials are now up to 42 years old).

Also, in many places, the psycho house inflation is due to actual fundamental reasons. In Austin, high-paying jobs just keep coming here (Apple, Arm, AMD, Tesla, and more just keep coming). Paying for the house is part of getting a much bigger paycheck in many cases. It's different from the speculative prices in Florida condos, for example.

"This time it's different" are famous last words, of course, but so are "this is just like that other time I remember".

genejockey 

When you start hearing ads like there used to be in 2007, offering mortgages with no income verification, you'll know it's time to pull out. But right now, we're way below the housing/population ratio where we were well BEFORE the last bubble started.

ls01

true but we didn't have inflation like we have now either.

genejockey 

The other thing is, yes, Millennials will have started buying houses some time ago, but there's still a LOT of them in line behind you.

ls01

They are already doing crazy stuff like overbiding on properties, above and beyond compares. That wasnt happening last time either. But the gas prices are higher than they were then and predictions are they will go higher yet. Thats what started the last one. Same play...same play book.

genejockey 

True, but I'm curious what effect you think it's having. But remember that housing cost inflation is literally part of the calculation of inflation rate, so it's simultaneously a cause and an effect.

genejockey 

How do you figure that?

The biggest problem last time was money flowing into Mortgage Backed Securities as an investment, which created an ever-increasing demand for mortgages (and ever decreasing standards for them), which flooded the housing market with apparently free money, which caused prices to shoot up. I don't know that this is what's happening now.

ls01

It's the same but different. People paying more than they should for properties mortgaged in an unstable economy. The rates were high and variable, but values were stable this time it's the opposite. Rates are low (but climbing) and the values are inflated. It's trickling down to the bottom, lower end of the market now and when inflation kills the economy and unemoyment soars. It will rip upwards just like last time.

big john

That's nuts.

bampilot06

bampilot06

I was only on the cap trail momentarily today but I witnessed something that really pissed me off. The guy on a mountain bike was “walking” his dog with no leash. How is he suppose to have any control over his animal while he is on a bike.

Oh and a bird watcher set up camp in the middle of the path and was trying to take pictures. Not sure why he had to stop in the middle of the path and not the side.

I need to go see some anger management.

MoAlpha

This is a long and interesting read about a fake Strava KOM, which leads to a fake former pro cyclist and from there to layer after layer of strangeness.

https://cyclingtips.com/2022/04/expo...e-pro-cyclist/

Also occurred to me that I met the guy once. Don’t look for that Wikipedia link.

genejockey 

Except last time the collapse of the housing market killed the economy and caused unemployment to soar, not the other way 'round. Also, rates were high-ER and stable, and values soared in the last bubble - hence 'bubble'.

genejockey 

Nothing like spending time in a natural setting to calm the mind, eh?

Off leash dogs always piss me off. RARELY are they under actual voice control, or they wouldn't come charging up to my dog while their owners fruitlessly call their names. I mean, not only do I not know their dog - whom I can see they aren't controlling - but they don't know mine. Rango could be a bloodthirsty muttkiller, for all they know. He's NOT, but they don't know that!