COLA INCREASE 2023

[pacmanx1]

Way too early but we can dream.

Social Security Will Pay Out More Money Next Year. Here Is How Much You Could Get

Based on recent data on the Consumer Price Index for Urban Wage Earners and Clerical Workers, a bellwether for changes in prices for goods and services, "It is likely we're going to have a COLA closer to 8% than 3.8%," Social Security Administration chief actuary Stephen Goss said during a briefing last week, CNBC reported.

Social Security Will Pay Out More Money Next Year. Here Is How Much You Could Get - CNET

 

[Dot09]

All I can say is with the cost of fuel sure does dwindle the account. I wish they would change the cpi report we’re it reflected a little bit more accurately for seniors. I think it’s called the cpi w. Which accounts for medical bills, fuel, food and household items. The eighties did more of an accurate job until they changed it. We would be looking at 11-14 percent increase if we used the old measurements today.

Edited June 11, 2022 by Dot09

[john999]

In Tampa where I live the official year over year CPI is 11%.  The VA and SSA are not keeping up.  Yes, the government excludes food and energy from the CPI.  In Tampa the real inflation is housing.  Where I live housing prices have exploded since Covid.  Houses selling for 700K now sell for well over a million plus.  New houses are going for near 2 million bucks.  I bought my house 35 years ago for 70K and since year 2015 prices have soared.  Regular people can't even buy a house since investors pay cash.  

[Richard1954]

21 hours ago, john999 said:

Where I live housing prices have exploded since Covid. 

I think this problem exist all over the United States, I know it does in Texas.

I purchased my home in 2013 @ $150K, it is now valued at $300K that is  twice the value of my purchase price, and like you say its impossible to purchase any house because of the darn investors. This also started during Covid19 here in Texas. 

We wanted to down size last year, but every house we found that we liked, investors were coming in with cash and making offers over the actual value. Most people cannot compete with investors, and from what I know its China doing most of this over bidding. At least in Oklahoma, the news indicated  China is buying up the family farms. There should be laws prevent purchase of homes and lands from foreign entities. 

[Dot09]

I couldn’t agree more Richard. We definitely need restrictions. I still can’t believe Indiana sold their toll roads to foreign buyers.

[Whodat]

The same thing is going on in Missouri. Lots of people had sold their house in my neighborhood. Investors jumped on it. Investors are now leasing the houses. 

[john999]

My next door neighbor wants a bigger house, but he cannot buy one at any price.  The investors offer cash way above the asking price.  Then they demolish the existing home and build a McMansion.  The neighbor paid $450,000 for a small house 5 years ago and that was way too expensive.  I see this is happening all over the Sunbelt for sure.  Have to buy a house in Detroit.  Maybe we could afford that but who wants to live there?  Rents in my area went up 30% this year on top of 20% last year.