There's another component to this housing crash. I currently have a mortgage locked in at about 2%. I'm not going anywhere, but at that interest rate, isn't the lender holding my mortgage losing a ton of money every month? Normal turnover of homes would solve that issue, but people just like me, are staying put. If I was a gambling gal, I would predict that a whole lotta buncha banks are going to crash and burn in the near future.
I suppose that I could be completely wrong about all this stuff. We shall see.
This is done on purpose. When they crash the dollar and replace it with gold backed digital money home prices will crash 50-60%. Then the wealthy and major corp. Like Black Rock will buy up all the homes on the cheep and leas them to the rest of us, you will own nothing and be happy. This will not end well. I have a friend who owns a $400,000 and he can't sell it. Those who do bid end up not being qualified.
If reality is fear, then yes, Michael does know how to peddle it.
Did you not see the plethora of statistics in his article? If you don't want to be prepared, turn on CNN. They will be more than happy to tell you what you want to hear: the economy is great, Biden is wonderful, everything will be just fine.....
No, Alanna, you're wrong. I have been preparing for many years. I've seen the truth about this nation's dire fiscal situation since the early 2000s. I had a career with the U.S. Government Accountability Office (GAO) in Washington, D.C.
The author of this site and I worked in Washington around the same time, he as an attorney and I as an accountant, though I didn't know who he was at that time. In fact, he and I were just a few blocks away from each other.
Daniel, How did your friend determine his home was worth $400K? Just because of other similar homes in his neighborhood are priced in that area? Well, the true value of any home is what a well-qualified buyer is willing to pay for it! Right now, I'd say that $300K is the new $400K and that is what I'd probably offer him. All he can say is "no!" You said it yourself, "he can't sell it." Lowering the price will most likely result in a sale and he can get on with his life. Not everyone makes money on real estate!!
There's another component to this housing crash. I currently have a mortgage locked in at about 2%. I'm not going anywhere, but at that interest rate, isn't the lender holding my mortgage losing a ton of money every month? Normal turnover of homes would solve that issue, but people just like me, are staying put. If I was a gambling gal, I would predict that a whole lotta buncha banks are going to crash and burn in the near future.
I suppose that I could be completely wrong about all this stuff. We shall see.
This is done on purpose. When they crash the dollar and replace it with gold backed digital money home prices will crash 50-60%. Then the wealthy and major corp. Like Black Rock will buy up all the homes on the cheep and leas them to the rest of us, you will own nothing and be happy. This will not end well. I have a friend who owns a $400,000 and he can't sell it. Those who do bid end up not being qualified.
Wow, you really know how to peddle fear.
If reality is fear, then yes, Michael does know how to peddle it.
Did you not see the plethora of statistics in his article? If you don't want to be prepared, turn on CNN. They will be more than happy to tell you what you want to hear: the economy is great, Biden is wonderful, everything will be just fine.....
No, Alanna, you're wrong. I have been preparing for many years. I've seen the truth about this nation's dire fiscal situation since the early 2000s. I had a career with the U.S. Government Accountability Office (GAO) in Washington, D.C.
The author of this site and I worked in Washington around the same time, he as an attorney and I as an accountant, though I didn't know who he was at that time. In fact, he and I were just a few blocks away from each other.
Daniel, How did your friend determine his home was worth $400K? Just because of other similar homes in his neighborhood are priced in that area? Well, the true value of any home is what a well-qualified buyer is willing to pay for it! Right now, I'd say that $300K is the new $400K and that is what I'd probably offer him. All he can say is "no!" You said it yourself, "he can't sell it." Lowering the price will most likely result in a sale and he can get on with his life. Not everyone makes money on real estate!!