Posted on 09/25/2023 5:28:10 AM PDT by davikkm
I predict that by the end of January 2024, after retail sales from holiday spending posts lethargic consumer spending, companies will begin slashing millions of jobs causing wide-spread mortgage defaults. REO and foreclosures will flood the real estate market as real estate investors rush to liquidate their inventories forcing listing prices way down, causing home values to crash through the floor.
This will lead to a massive spike in the divorce rate as we witnessed in the last housing crash.
Foreclosure is a miserable experience as is divorce. Can you image the following scenario?
1. You purchased a home during the pandemic super bubble paying 100K over asking for a 1200sq foot bungalow. Everything seems amazing as your home equity jump 20% each month. You decide to have a couple kids in your new home and start a family.
2. fast forward to Jan 2024, You or your spouse are now unemployed and unable to afford the mortgage.
3. As prices are rapidly declining from many others facing similar situations from rising unemployment, you are trapped in your home due to being underwater on your loan, you can’t sell it for what you owe.
4. You decide to walk away from your home giving it to the bank while the stress of going though such hardship is taking it’s toll on your relationship causing one partner to decide they want a divorce.
4. Divorce, on it’s own is expensive if you are the primary provider of the household. Not only will you be subject to expensive lawyer fees, but you are likely to lose half of everything you own, and possibly pay child support which is also not cheap.
5. And just to pour salt in your wounds, the bank ends up selling your home for 100K less than you owed on it, now you’re looking at paying the tax on the $100k debt forgiven by the bank as income. That’s roughly another $40k your looking at handing to Uncle Sam during all of this.
Summary ———— Within the span of two to three years you went from living the American dream to broke and homeless, by no fault of your own. This is just a cycle and we are at the end of the current one.
It’s a wonder that my wife and I have been married for 56 years.
Stolen elections have consequences.
And all of those “genius” people leading our nation and corporations think their decisions are the best for their communities, companies, and nation.
None of them ever cared about anything other than themselves.
We’ll see what 2024 brings.
Several big name companies are already laying off thousands.
Here we go..
That’s a bit of an overwrought, apocalyptic and hyperbolic scenario.
overwrought, apocalyptic and hyperbolic
You know my estranged wife?
Grace can go amaxing things.
“You purchased a home during the pandemic super bubble paying 100K over asking for a 1200sq foot bungalow.”
That is clearly a fault of your own.
Perhaps that’s in part because you didn’t consider all marital assets as belonging to yourself alone?
That’s a bit of an overwrought, apocalyptic and hyperbolic scenario.
——————————-
That’s not even mentioning the terrible syntax and grammar.
I wouldn’t buy anything from this writer, let alone predictions on where the economy is headed.
It sounds exaggerated and the scenarios seem a little on the intricately contrived side, but I actually think there is something to this theory. It relies first on the massive layoff part, and I don’t know how big it will be, but I do feel like a significant labor demand correction is coming. I keep hearing from different sources on the ground that a lot less product is moving around lately and shortages are less of an issue. Most of us think “supply chain” problems are the some huge bane to business and they cause a lot of problems, but they probably hate paying for production that isn’t moving and creating a glut in inventory even more, because you are paying costs but not covering it with revenue and that can’t last.
“””2. fast forward to Jan 2024, You or your spouse are now unemployed and unable to afford the mortgage.’’’’
Fast forward to 2024 and McCarthy, McConnell, and Biden will create the Housing Loan Program modeled after the Student Loan Program where the misinformed people who bought over-priced houses can refinance through the Housing Loan Program.
And just like the Student Loan Program, these people do not have to pay off their housing loan to the government so long as they vote for Democrat and RINO politicians.
Isn’t America great??? America educates young people to be ignorant and forever reliant upon government to fix their problems.
“That’s not even mentioning the terrible syntax and grammar.”
If they write like that, they very well lose their job, their house and their spouse.
There wasn’t any big bump in divorce rate during the 2008 financial crisis.
Revealing Divorce Statistics In 2023
https://www.forbes.com/advisor/legal/divorce/divorce-statistics/
See figure “Divorce Rate from 2000-2021”.
Silly, unserious speculation.
These increases in the divorce rates are due to the COVID-1984 Scamdemic where spouses found out who they were truly married to and don't want any part of each other.
The Scamdemic lockdowns contributed to it by removing the distractions that enabled couples to stay together despite flaws in their relationship.
Branch Covidians cannot accept non-cult members in their lives and are unwilling to be de-programmed.
Totally. You bought a 1,200 square foot house for a $100k over market price? Yeah, you are stupid and have likely made a number of stupid life decisions.
Send more money to Ukraine.
I thought a good partner was a help during hard times.
The divorce rate dropped significantly in 2020, and rose in 2021, but not above the downward trend.
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