Recent comments in /f/baltimore

KingMiyamotoMusashi t1_j26y4mo wrote

Serious question… this job seems like it probably sucks… terrible pay, terrible schedule and probably crappy working conditions… In the government sector these jobs exist.. Clerical work in cities and places like police departments which I think all of us would consider important need to be done for the system to run smoothly.. How do we fix it? these positions don’t necessarily generate money so it’s very tough to offer competitive pay… but when they’re not given competitive pay you get incompetent or under qualified people and then it messes up the entire system… What is the answer to fix this sort of thing? I’m genuinely asking and not trying to be snarky at all, I am interested in everyone’s position on things like this

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Elkram t1_j26u755 wrote

Idk if you can really ever correlate house listings to housing supply.

Like if I make my own chocolate bars, and leave out 10 on a shelf in a grocery store, and next to that are 10 Hershey candy bars, we are both selling 10 in that moment, but the amount of candy bars supplied by Hershey is far more than me.

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mindthesnekpls t1_j26qj7a wrote

Housing prices being up big from 2020 and down in the past few months aren’t mutually exclusive phenomena. A lot of these price movements can be explained by underlying movements in interest rates.

The housing market exploded in 2020/21 as the Federal Reserve cut interest rates to 0 in order to stimulate the economy during the initial onset of the pandemic. As the pandemic progressed, the Fed kept the Fed Funds rate at zero and began buying large amounts of Treasury, corporate, and mortgage bonds alike as an additional means of keeping rates low. These measures, in conjunction with other programs such as stimulus checks and various stays on payment of things like rent and student loans, created or freed up enormous sums of money which were now spent elsewhere in the economy, causing the rampant inflation we’ve seen throughout 2022.

Slashing rates also caused an explosion in housing prices as borrowing costs fell sharply and people could borrow more money than they may have been able to while rates were at pre-pandemic levels; more access to financing = ability to bid at higher prices. As the Fed has increased rates from 0 to 4.25% this year, borrowing costs have gone back up, meaning it’s gotten harder for people to borrow at the levels we saw through late 2020 and 2021. This tightening in lending has cooled the housing market slightly, but not entirely down to pre-pandemic levels (which I think can also be attributed to the enormous additions to the money supply as part of pandemic-era stimulus programs).

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fijimermaidsg t1_j26oq0a wrote

Clay at Mt Vernon Tattoo is great at doing cover-ups - although it's not an artist's favorite assignment, it's bread n' butter. He did a massive cover up and fix for me.

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ArtifexR t1_j26mlyl wrote

I suspect there are some hidden factors here being ignored by the "pro-business" folks on the news, like 50% of young people living at home with parents instead of buying or renting. Even if supply hasn't increased, if no one will pay the ridiculous prices then they're SOL. Plus we're also still in the middle of "no wage only spend economics."

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