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And it's the uneven propagation of price information through the popular consciousness that makes inflation so insidious. You're absolutely right: a lot of peop
by quotemstr 2y ago
And it's the uneven propagation of price information through the popular consciousness that makes inflation so insidious. You're absolutely right: a lot of people are calibrated on 2010 prices for income despite 2024 prices for expenses.
- stego-tech 2y agoI will unashamedly admit I was one of those people until recently. When I got into the housing market, I thought $650k for a turnkey property fit for four adults would be sufficient, with another $70k set aside for repairs and projects (HVAC, oil tank removal, etc). Turns out I was wrong, and my failure to adapt my standards has likely cost me an opportunity to own a home sans a significant pay rise. Once I accepted that new data, however, I was able to see the immense gap between reality and expectation, as well as understand that it’s not necessarily my fault for missing that opportunity. I went with the widely-propagated programming for new homeowners at the time, and missed the pitfalls despite my ample additional research. Housing is complicated, and it’s the biggest hindrance to a more stable, equitable, and productive society in my personal opinion.
- quotemstr 2y agoI thank my lucky stars I was able to get something like a 2.5% mortgage locked in in a few years ago