Lots of people sitting on 2-3% fixed rate 30 year mortgages are suddenly deciding maybe staying in their current home isn't a bad idea after all. If you need a mortgage to buy a house, what you can afford just got a lot more modest.
Sales will pick up a little; some people will need to move for reasons they cannot avoid. Some people who don't have fixed rate mortgages will have to sell because they can no longer afford the payment. But right now, sales are pretty low.
If you have a second home at 3% that means your first home is paid off. You wouldn’t get that rate for an income property.
There are several good reasons for selling it, mostly emergency or retirement reasons. I would keep it and rent it. Inflation is more than double that 3%, “officially”.
What a great problem to have.
Anecdotal data, regarding value drops. I’m in a 30 fixed at 3% in Arkansas. Houses I was looking at in a new subdivision were around $410 when I was looking, this time 2020. They are now in the $700s, and that’s with the current interest rate. So 3 years of mortgage payments, down payments, you’re looking at an outstanding balance on the loan of… around $300k?
The value drop people think needs to happen probably won’t ever happen. Especially since the USD is turning into Monopoly money due to terrible fiscal policy.
Personally I don't give a shit if people can sit on their house forever at -5% real interest rates or whatever. Just let me build a shack out of chicken wire, 2x4s, and tin roof. If you get to rig the game to get a house the least you can do is let me build something with whatever scraps are left in the financial system.
> RT (formerly Russia Today) is a Russian state-controlled[1] international television network funded by the federal tax budget of the Russian government.[16][17] It operates pay television or free-to-air channels directed to audiences outside of Russia, as well as providing Internet content in English, Spanish, French, German, Arabic, and Russian.
Operationally speaking there’s no such thing as war crimes. The victor writes the rules and the loser, well vae victis.
The “rules based international order” is a sham and always has been. This is made obvious by the US based empire’s total disregard for other states’ sovereignty when it doesn’t suit them.
For what it’s worth I oppose this war as I oppose virtually all wars. It’s tragic and I wish it were unnecessary.
>Operationally speaking there’s no such thing as war crimes. The victor writes the rules and the loser, well vae victis.
Yawn.
Of course the victor writes the rules, but the International Criminal Court has the support of most of the UN. If you believe democratic society is fundamentally a good thing then it follows that the Pax Americana has been, in aggregate, a tremendous success in normalizing and codifying international law.
Is the current state of affairs imperfect? Of course.
"Winners write history" is such a boring, undergraduate take on geopolitics.
The period of relative peace in which we live is called the Pax Americana because it's primarily driven by US military hegemony and there's no escaping that fact.
I don’t think your rudeness is appropriate or helps satisfy intellectual curiosity. It sounds like you have some formal training in IR, how about you contribute at a level befitting your education? So much for that.
The ICC is a great example of why “international law” is a dead letter if not a total fraud. I’m sure you’re aware that the US based empire doesn’t acknowledge its authority. The US based empire permits the ICC to act only when it serves the empire’s interests. So much for normalization and codification.
Finally, I never said “winners write history.” I said they write the rules. Conflating the two is intellectually sloppy or a straw man. So much for reading comprehension.
As soon as American politicians get the same treatment... The west doesn't hold the moral high ground on anything. Wherever the US meddles, misery follows.
Some justice is better than no justice. Criticism of hypocrisy between A and B is fine in its own context, but in the context of A or B alone, it's called whataboutism, which has the appearance of justifying the unjust, and is therefore extremely detrimental to conversation.
Although Sweden and Finland like to remain neutral, they have to take a side in this in order to avoid more wars, and this is the best time for them to join NATO. They can simply say they’re scared of Russian aggression and are scared their country is going to be invaded by Putin.
You it would impact public opinion if the public were Americans. Not in Russia though because Putin is a dictator and has been in power for 18 years and doesn’t care what Russians think of him.
That only works to a limited extent. When you stretch your economy with a war and actively disregard the citizenry, don’t be surprised when you end up like Tsar Nicholas, who also enjoyed absolute power until he didn’t.
Not to discourage you, but just so you are aware of what you’re getting into, Amazon is notoriously known for their Performance Improvement Plan (PIP). Every review cycle, you are ranked against your peers, and managers have to “PIP” a percentage of the team. Usually it’s the bottom 10%, though I’ve been hearing rumors that now it’s bottom 15%. Because of this quota, managers are forced to “fire” engineers even if they have a super star team, or unless they hire to fire, which is unfortunate but common thing at Amazon.
Amazon is a great company and just like any other company, YMMV, but I, along with several of my friends, had the most stressful, worst time of our lives while working at Amazon. Working 10-12 hour days and weekends was very common. YMMV, so negotiate wisely!
The first part about PIP is bs. No one on any of my teams got pipped and I know of only 1 person that I know who got pip'd (in my 5+ years there). No one is forcing managers to fire engineers. Most teams can't fill their headcount and are constantly short-staffed with the turnover so even if for some reason amazon wanted to "fire" 10% of the people on each team it doesn't make sense for them to do so from a business perspective as none of the projects/goals would be met if they did that.
The only accurate part is the last part where you said that it can be stressful and there are sometimes long hours but working weekends is not "common" unless you are oncall and even when you are oncall on most teams you likely won't even be paged.
I actually know a lot of PiP used. It's not the bottom 10% but it's almost always personal from mgmt to whoever they want out wo getting sued for wrongful termination. The so called get rid of the bottom "10%" is more through natural attrition via retasked to do demoralizing work. Yeah when you work for some bad blood. They will make your life a living hell.
Also not so much long hours bc you do that elsewhere too but it's more of high pressure to get things done even when things that don't work isn't your area to deal it. That's one of their most coveted principles: bias for action.
I used to work for a start up. We did not have support engineers. All tickets went through IT which was one person and then made their ways to dev team. Management wanted to save a few dollars so they didn’t hire any support engineers. Devs were expected to handle escalations on top of their daily tasks. This lead to burn out because deadlines did not move when there were multiple escalations in the same week, which lead to many of the bright engineers leaving the company. If you value your engineer’s time, have a small team to have customer issues.
It’s very difficult for young people to afford good paying jobs and be able to be debt free and save money and start families these days, and the pandemic, with the FED money printing machine, has amplified these, causing insane amounts of inflation.
