Posted on 07/18/2022 8:02:11 AM PDT by Browns Ultra Fan
We are going down this road, feeling bad.
As The Fed Reserve prepares to raise their target rate in a week by 75 basis points to 2.50%, the NAHB Home Builder’s confidence index plunged.
The 30-year mortgage rate is up 89% under Biden as his green energy fiasco is helping drive inflation to its highest level in 40 years leading The Fed to tighten its monetary policies.
Meanwhile, Jerome Powell and The Fed are doing The Fed Rate Shake.
(Excerpt) Read more at confoundedinterest.net ...
I foretell a 2008 level crash of housing prices, except for NOVA. They will float above the rest because of Federal corruption and malfeasance.
I have sat on the sidelines with my paid for home. I am getting the popcorn as left leaning suburban white single Moms took the divorce settlement and put it down on down payment on a house they could not afford. Why do I say this....lateest mortgage data shows more than 1/2 the new mortgages were for single people. One income, single parent home = disaster. Also throw in more Broadnoses getting mortgages = bad news. blacks default at 2x the rate Whites do.
Broadnoses ??????
It’s why things are so knotted up.
The off brothers Jack and Jerk
Typically I just ignore a comment that comes across as racist, but I’ve got to join Jane Long in pointing out that “broadnoses” sure does come across as racist.
Just felt compelled to mention that.
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