Still think TITNC3: Return of the Iceberg was peak

All I can afford right now is bills.
Not even being cute about it.

DTE=1-1 now
And that’s after paying off 27k this year already

I won’t be above water til COLA changes take effect

 

Not that it's gonna make you feel better, but those of us doing "well" (whatever the fuck that means now) are cutting back now. It's fucking ugly for the lower class. That's you, me, and everybody else reading this post. There's no middle class left. You're either poor, or you're on the board of directors for Nestle.

I've never looked at grocery prices before, and just bought whatever I wanted. DINK, and we're actually keeping track of our spending now. Every year since 2020, I've made less in real dollars despite COL raises (thanks for the 2%) and bonuses. We're getting fucked.

 

Banks have gotten increasingly retarded too

contacted my bank
I have exellent credit and a good rep with them
Asked for a debt consolidation loan
Would have consolidated 7 bills into 1
Would save me 2200 a month and the bank said no.

I was like
What
The
Duck

wtf do you even do then? fixed income
Good credit
And bank tells you to suck an egg

 

You go to another bank.

 

Until people are UE and CAN'T do that, this is going to keep going. Inflation is at least coming down (ish), but until we see negative, prices won't come back down. And that's IF we see negative. Prices are still going up, just at a lower pace than before.

Except TVs. Those dropped like 50% in cost over the past 2 years.

DINK, engineer and a doctor. We have always budgeted, but now it's getting to exactly what you're getting at, we would "budget" for groceries, but if we broke budget, whatever.

I got a new job in March 2022, which was a nice bump in pay, but adjusted for inflation, I am CURRENTLY making (as a senior engineer) what a junior engineer fresh out of college made when I graduated college. I haven't looked at entry level engineer/junior/eng 1 positions recently, but chances are they have gone up since I graduated, but not this much.

Because they're bleeding money on loans. My mortgage is at 2.6%, and they can get 6-7% elsewhere with a new loan. But that capital (on a macro scale) is tied up at 2.5-3% for everyone that locked in these bitchin' rates.

And going back to 1970 (because that's how far back this graph goes, since 2008 ish we've been uncharacteristically LOW for rates. We're APPROACHING a normal range (ig you ignore the 1980 spike in there). 6-7% 30 year rates were the norm, and they're GOING TO BE the norm.



So, all these lucky schmucks ( ) who nailed it and got a 2.x% loan locked in are dragging some of the profits from the bank. They could use their capital to get 6-7% today, but it's locked in at 2.x%, so they're being more strict on lending out money.

 

housing cost was much lower in those days. 8% on a 150k loan back then vs 8% on a 500k loan for the same size or smaller home/property.

 

speaking of cutting back on bills...

anyone use any other cell service other than the big brands? we're currently getting bent over with ATT and ive been contemplating switching to puretalk or cricket. they use ATT tower which is a strong signal around here.

bill would go from $168/month for 2 lines unlimited data down to ~ $54/month for 10gb. we dont even touch 10 gb since were on wifi majority of the time

 

Oh, for sure.

Just since 2014. My house was worth 180k in 2014. I bought it in 2017 for 235k ish, that's a wild swing in and of itself. Now it's sitting around 400-420.



1200 sq ft ranch on 1/3 acre, 1955 post war suburbia. We love the idea of the smaller house long term, but we know a lot of people with kids + working from home now tend toward a larger house.

The problem is the target audience for housing (and cars, EVERYTHING) is the largest group out there - boomers!



So if you're making a car, house, phone, whatever, your target audience is the biggest demographic you can get. It's boomers. Not just that, they have money, too. So, you're going to make a product THEY want, and will buy. New construction is bananaland $, whereas 20 years ago, new construction was APPROACHABLE for some first time buyers. Now you're seeing millenials come in, without the $ to buy the houses the boomers are trying to sell.

Anyway, I'll cut myself off there and stop talking about the death spiral now

 

100%. 2 lines is 55 a month for us on ATT prepaid. I think Verizon is about the same. You have to bring your own devices over, but even with that we're in the green within like 6 months, let alone if you already have a phone to bring over.

edit - I've done some math, because I had the time.

Assumptions: ATT is 170 per month (160 for two lines, 10 in taxes/fees). The prepaid plan is 55 per month. You have your own phones already? You'll be in the green day 1.

You need to buy phones? The plans allow you to "finance" a phone pretty cheap, I guessed 7 a month. Or you have to foot the costs, so I guessed 450. Two iphones x's total 450. If you need the latest and greatest, go away (It was just an estimate for math, it works out).

SO. If you pay the plan for ATT verses foot the bill, in 5.5 months you're in the green vs the plan option. If you foot the bill for the phone, and compare it JUST to the plan without buying a phone with it, it's 6 months to break even.

Ditch that post paid plan like a hot potato, go prepaid and don't look back.




With auto pay that becomes 25, and then a second line is 20, then taxes and fees, our monthly is 55.

 

I hit all the banks I bank with in the same day
All said no, I’m sure in a week I’ll get the letters where they say it’s denied because I was looking for credit

USAA, NavyFed, PNC

 

PNC was the “local”
But in fairness
Most banks want you to have a checking and a savings and like 3k in savings to get treated like royalty

and man
3k in savings is a luxury at this point

 

https://www.youtube.com/watch?v=hkTA1CaXD7M

 

Quick buy more GTii!

 

You won the internet today. I laughed so hard. I just spit potato chips all over the project I'm working on.

 

It's always cycling from $0.50 to $2....get out at $2 back in at $0.60...Repeat...
This time the $2 seems slightly delayed...
BUT TRUST ME...
No man...Seriously...
Just follow the queen...
Which cup is the ball under...

 

We've outgrown the garage and need a shop for our rock saws/lapidary equipment. I'm pouring a slab and having a shed put in. Brands y'all have used before, good/bad? I have no idea what type of shed I want/need other than insulated, wired for power, and probably wood construction.


Disregard my previous comments on keeping track of grocery prices lol. For real though, we've been saving up for this for a number of years, and now it's time to get it done. Was always on the side burner because we wanted to just buy a bigger house, but that's out of the question now with interest rates, so we're gonna start upgrading our little place.

I'd have @theesotericone come down and build me one, but he charges too much (I assume)