Are we seeing the early signs of a massive housing collapse?
Switching it up today from the usual healthcare focused info.
Most of us remember 2007-2008 very vividly. The housing market took the largest dump it could, builders were bankrupt, and people were stuck in an overpriced house that lost half its value or they sold it at a loss on a short-sell. As someone who’s house personally lost 50% of its value during that housing crisis, despite not buying a home that was inflated in cost, (mine dropped due to all the short sells/foreclosures around me at the time), and remembering that it took damn near 8 years to get that value lost back…….I learned to never buy a home during the high, and never sell during a low.
Sadly, the housing market has been so bloated and inflated the last few years purely due to supply and demand. Investors have been gobbling up houses at 20-30% market value and renting them out. But the tide is turning. One of the best indicators of a housing market going sour is to look at the sunbelt. The area from Arizona to Florida where it is moderate climate and people often own second winter homes, or move to a climate that is milder and more enjoyable than northern winter.
What are we seeing? Year over year housing values are taking a dump. Why is this important? When the sunbelt sees these kinds of value losses, the rest of the country is not far behind. It can be a key indicator of an impending housing recession. Rumor on the streets is that investors who gobbled up houses in these areas are now dumping them, putting them on the market for less than they paid for them, to get rid of them. Another warning sign of a potential housing value free-fall.
Here are some key areas with losses. It hasn’t reached Florida yet, this is west moving east. It has stretched from Vegas to Phoenix all the way to New Orleans. Florida will be the next one as the weeks/months go by.
Vegas and Phoenix at a -6.9% year over year home value:
Austin is a real hum-dinger with a -11% value loss. Why is this most concerning?! This is a college town. It used to be the destination spot for California peeps exodusing to Texas. It also has a notoriously high ease of rental rate due to college students at the University of Texas being guaranteed renters. This loss in value is highly concerning.
New Orleans is at -8%
Keeping an eye on these numbers. How low will this go? How far will it reach? How deep will the housing recession get?
BlackRock & Vanguard intend to buy up every property they can - regardless of market ups & down. These criminals can print money until the cows come home & the WEF, UN, Globalists plan is to own everything, all the better to control us all.
Take it from WEF mouthpiece, misanthrope Schwab , best known for his mantras 'You will own nothing & be happy' & ' you will eat ze bugs'.
They want a future where you're only permitted 3 new items of clothing a year, live in a foul commune, where you share a kitchen & bathroom with 20 others, have no car, never go on holiday, are given a digital allowance which only permits you to buy from their outlets &
can be stopped at any time should you fall out of line with your overlords - for refusing endless death jabs for instance.
They intend to collapse everything in order to take it over, schools & education are going down the drain, health care is barely health care anymore, defund the Police & let Antifa & BLM police the streets in their place - you get the picture.
The seizure of all private assetts is their goal & deliberately manipulating markets, mortgagees & loans is how they will achieve it. If you owe any debt on anything, they are coming after you.
The Fed raising rates at such a fast rate isn't helping things either. They should have started earlier and at a much slower pace IMO.
UNTIL we have some competency in the government (not a bunch who have no clue but check all the "boxes), it won't get any better.
I've been a political junkie for too many years years. I thought Carter's administration was awful...I need to apologize to him...this crew is far worse than I could have ever dreamed.
I find it shocking that anyone would actually consider voting for Biden and his crew again, after this mess. But many still will because in their world "feelings" are far more important than competency...how's that working out for them? Do they not see it? Do they just allow the MSM to for ever idea and opinion? 🙄🙄🙄