Déjà vu: 2008’s eerie replay in 2024 – manipulated rates, speculative frenzy, collapsing home sales, and economic uncertainties. But this time, missing global saviors.

Citizen Watch Report ^

[davikkm]

The specter of the 2008 housing crisis is haunting 2024, echoing familiar themes of manipulated interest rates and speculative asset mania. The belief that “prices only go up” has fueled a dangerous déjà vu, reminiscent of the days preceding the previous crash. As rates rise, home sales volumes collapse, and builders resort to offering incentives to mask an impending price collapse.

[Sirius Lee]

Remember how everyone was gushing about the BRICS as the core of the future world's economy during the 2008 collapse?

Didn't quite pan out.

[pepsionice]

Some things are different on this ‘repeat’. Fair number of commercial real estate locations (malls, stores) are being turned back over to banks. Banks are standing there with no idea how to repackage them and sell.

Same story going on with hotels. High-end SF hotels (4-star range) handed over to a bank and zero market for it’s use.

In 2008/2009...fair number of Chinese syndicates showed up in California/Arizona....to buy cheapen houses to rent out. Odds of this happening this time around? Zero.

Fed kept the interest rate cheap after 2008/2009. Presently? Current chatter says rate will cheapen the rate (by mid-summer) from 6.3-percent (15-year loan) to around 4.5 to 5 percent. Inflation will start up but they are desperate to find cheap money as an angle.

[momincombatboots]

Collapsing sales might be fake news. My friend had a tiny 2bed 2bath home with almost no land sell for cash in 2 days for over a quarter mill.
No individual has this, so I am thinking corporations and wall streeters are the bank. But this is an orchestrated event since Covid. It’s been a while since I looked at the other evils around the Covid tyranny.

[SaveFerris]

I’ve been saying 2008 is coming again. Only this time, it will be worse.

Prep as best you can, FReepers

[SaveFerris]

[Banks are standing there with no idea how to repackage them and sell.]

Turn them into apartments. However, very few will be able to afford the rents and other fees if they can’t find work.

[virgil]

I know some folks near by who put up their house for sale. They had an offer in 30 minutes after putting it on the market. There was a bidding war, and they ended up selling for $30k over asking price. No housing collapse in my area - yet.