Friday Update November 12, 2021

479 single family homes on the market this fine Friday.  Down further from last week as we go into the holidays.  Interest rates have been a bit volatile the last week based on the stunning inflation numbers we got but are still within a range.  About 1.54% on the 10 year notes as I write this and bouncing around as it was just 1.57% 5 minutes ago.

So far in November we've had 446 properties close in our MLS.  So you can see how the above supply is good for roughly 2 weeks.  What's surprising to me is that the median sold price so far in November is now at a new record high of $460,000.  I thought we were dipping a bit in pricing going into winter as we often do but time will tell.  One thing is for sure is that prices are not softening.

The CPI inflation numbers year over year came in at 6.2%.  That's the highest since 1990.  One thing that is pretty fascinating about today's world if you think about it from a 1990 point of view is how interconnected it is financially.  We now have a cartel of central banks around the world that more or less coordinate their actions in synchronicity with each other.  This is obvious if you look at the inflation readings around the world, they're high.

What makes this possible in my opinion is that for the first time in our world's human history we have a global financial system that is based on nothing more than debt.  No gold standard, no physical backing of any currency whatsoever.  So all currencies are free to inflate to infinity until of course the people lose faith in that "money", and we have to do something different.

I've got kind of a personal disaster to deal with today and this weekend, nothing that can't be fixed or worked through but something that takes fixing and work.  So I'm going to leave this mini rant off by saying that in the 21st century feudal system I would love to see those nearest me do everything they can to not end up on the serf side of the equation.

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