RE:RE:RE:RE:RE:Feds...big bucket of cold water:Moemoney42 wrote: Listening to Powell speak about continuing to focus on bringing down inflation.. so here's some back of the napkin calculations..
Lets say your house hold requires $2000/mo. to maintain (excluding food and energy as the feds do)
So $2000/mo. @ 6% current inflation is an extra $120/mo. which yearly would equate = $1440.00
Now if you have a $200,000 mortgage and the rate for it went from 2.5% to 5% the yearly increase would be $5000.00
So who's causing the real problem, inflation or gov't mandated inflation..???!!!
By those quick calculations I'd say the gov't is far more responsible to the tune of $3,560 per year for the inflation most of us will experience.. IMO
Yes but you don't need to own a house. It's a want. Food is a need. Or...wait a minute...isn't it now a need in Canada? Making housing more affordable is a primary concern. Nevermind.