Western civilization entered a drunken debt spiral (personal, corporate, and government) drinking from the punch bowl of ridiculously low central bank interest rates, and more cheap booze won’t solve the problem. Recovery begins by the discipline of only borrowing for a home, only borrowing for capital investment (not stock buybacks), and only borrowing for absolutely necessary foreign wars.
Once the equity drain begins things will look very different. Studies have shown It only takes 4% of homes in a development to re-rate, and the entire development re-rates. 12-24 months prices will be significantly lower and falling. The market might still be frozen, but for a better reason than today. Buyers will be waiting to see how low prices will go, not wanting to catch a falling knife. No bottom until 2027.
Then Megan property investment firms like Blackwater will come and buy the lower priced homes and rent them to the people who just lost a home. All a set up for you to own nothing.
Back in the 70's I had a 14% mortgage so Paul Volker could kill Jimmy Carter's inflation. Let folks pay 7% and quit gripping. You know, of course, these same people will turnaround and vote for Biden, our inflation creator.
Too bad that our economic "experts" never took Economics 101 in college. This was all so predictable and avoidable. I remember saying to my neighbor when the stimulus checks rolled out in 2020, that we would end up paying for them 100 times over.
There is no soft landing for this mess. The economy is imploding on itself and there isn't anything that anyone can do about it. Last week BRICS became the largest segment of the earth''s population, and they've announced their gold backed currency. The result will be that the world will no longer need to trade in US dollars. When all those worthless fiat bucks flood back into our country, the fun will really begin. People are already defaulting on their payments. How will it be when everything is ten or a hundred times more expensive? Don't even get me started on all the bubbles that will burst: the stock market, debt (including housing), derivatives, etc. The US has been living high on the hog since the fifties and now it's time to pay the piper. Buckle up buttercup. We're in for quite the ride.
They know economics very well, this was all done on purpose for the exact results they are getting. Remember their goal is to breakdown everything American, they have been brilliant in putting this into play.
Western civilization entered a drunken debt spiral (personal, corporate, and government) drinking from the punch bowl of ridiculously low central bank interest rates, and more cheap booze won’t solve the problem. Recovery begins by the discipline of only borrowing for a home, only borrowing for capital investment (not stock buybacks), and only borrowing for absolutely necessary foreign wars.
🙏🏻🩵 Thank you
Once the equity drain begins things will look very different. Studies have shown It only takes 4% of homes in a development to re-rate, and the entire development re-rates. 12-24 months prices will be significantly lower and falling. The market might still be frozen, but for a better reason than today. Buyers will be waiting to see how low prices will go, not wanting to catch a falling knife. No bottom until 2027.
Then Megan property investment firms like Blackwater will come and buy the lower priced homes and rent them to the people who just lost a home. All a set up for you to own nothing.
Back in the 70's I had a 14% mortgage so Paul Volker could kill Jimmy Carter's inflation. Let folks pay 7% and quit gripping. You know, of course, these same people will turnaround and vote for Biden, our inflation creator.
Too bad that our economic "experts" never took Economics 101 in college. This was all so predictable and avoidable. I remember saying to my neighbor when the stimulus checks rolled out in 2020, that we would end up paying for them 100 times over.
There is no soft landing for this mess. The economy is imploding on itself and there isn't anything that anyone can do about it. Last week BRICS became the largest segment of the earth''s population, and they've announced their gold backed currency. The result will be that the world will no longer need to trade in US dollars. When all those worthless fiat bucks flood back into our country, the fun will really begin. People are already defaulting on their payments. How will it be when everything is ten or a hundred times more expensive? Don't even get me started on all the bubbles that will burst: the stock market, debt (including housing), derivatives, etc. The US has been living high on the hog since the fifties and now it's time to pay the piper. Buckle up buttercup. We're in for quite the ride.
They know economics very well, this was all done on purpose for the exact results they are getting. Remember their goal is to breakdown everything American, they have been brilliant in putting this into play.