Jobs report was crazy big on numbers. Prices, inflation and interest rates aren’t going down any time soon based on numbers like these.
Ya bunch of people getting second part time jobs is extremely hot . Lmao
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call it what you want, but all it means is the Powell and Fed won’t lower any rates, and things will remain ridiculously expensive with factors like this as an excuse.
enjoy your 6% CD, $6 gallon gas and $12 bunch of bananas at the store, but don’t plan on buying a house anytime soon unless you’re 100% cash and like paying 10% over asking.
BTW, does anyone even use LMAO anymore?
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I don’t agree at all. These numbers are compatible with an effective crunch on the middle class. Ie you have marginal acquisition of second and part time jobs with the net loss of full time positions.
The downward move is beginning and these numbers suggest that
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You disagree with what exactly? That rates will stay the same or go up? “Downward move” of what?
Rates don’t really need to go up more, the effects are delayed and we are just starting to get into the tangible effects of the prior hikes.
Downward move in terms of consumption , price of equities, inflation.
These things take time. You don’t hike and then tomorrow see the effects.
Not saying we need cuts but holding steady for a year or more to shake out the trash would be far preferred imo to being overly interventional continuing to raise aggressively , requiring subsequent cuts and just a constant see saw action.
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Zei ighz zis gkhai whko kheadz ze Davoz fogkhum, he wahkz seingh fogkh yeaghz zat we needz to khav ough consumpshion gheduzed and minimaghzed , and ghowtz slowed. Tookh mani pezantz meik tookh much moni, and zis ghaz to stop, khe sei.
Fluent in Schwab?
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Thanks for the “macro” lecture on your world of economics, timing, market forces, etc., but it was never said that rates “need” to go up - but they will.
Isn’t the main advantage of getting a house is so you can leverage your money. Paying 100% cash means you get low cash on equity return.
What is a “decent” mortgage today…7-7.5%? Where else can you get a guaranteed 7% return after taxes?
Can’t find that “EV” thread…
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If they’re allowing it on used cars too, if that car sells 4 times isn’t that like $19500 in lost tax revenue? I understand it on a used one I guess, but used values should reflect that first tax credit.
It’s just going to go even more into dealers pockets as that 4k will be factored into the sales price. Maybe not 100% but def some.
Another question is can we get the 7500 off on a lease then buy out and get another 4k off that? Would be interesting…
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I’d think only one credit per used VIN. That would make sense, I think, but who knows.
"Used cars - which are defined as any previously owned vehicle which is older than two years"
Yes, used credit is only available on first transfer of previously-owned vehicle.
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If you lease wouldn’t it be the 7500 to the bank as they’re owner first and pass it to customer. Then you buy off them at lease end in 2-3 years as the second registration? Or just sell the lease in 2-3 years and new buyer would get the 4k off. Have to read the tax code on this…
Insideevs seems to think it is possible to double dip. Lease and get the $7500 tax credit as a cap cost reduction. Then buy it out and get $4000 used EV tax credit( if 2 years old and under $25k).
Also some more detail in this article how it works. Dealers need to register for the program on IRS site.
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I guess if these are gonna be pushed this hard you have to pass the losses to the public. As expected
The catch is the $4000 is only good on vehicles 2 model years or older… So the play would be to grab a 1 model year old loaner, lease it and then buy it out after a year, or when it’s under $25K, using an escrow like Drivecaramel. However, income limits still apply…
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