Posted on 09/15/2022 10:18:27 AM PDT by millenial4freedom
Billionaire real estate investor Barry Sternlicht said he believes the economy is "braking hard" and that the continuation of rate hikes is likely to cause a "major crash" in housing. “The economy is braking hard,” the chairman and CEO of Starwood Capital Group said on CNBC earlier on Thursday. “If the Fed keeps this up they are going to have a serious recession and people will lose their jobs." "You are going to have a major crash in the housing market and housing prices are going down," Sternlicht said. "You are seeing housing prices correct."
(Excerpt) Read more at seekingalpha.com ...
Walmart cutting back on inventory orders. News just released.
Obviously Barry hasn’t been paying attention to what is coming across the border. These “refreegeez” have big bucks. These are not your typical “immigrants”. They’ve got thousands to pay some “coyote” to bring them across the river and show them the way to the Border Patrol Welcome Wagons.
Really surprised the Democrats haven’t passed a new stimulus check program, now that Manchin is their new bitch.
Ah, that's what the feds themselves said was going to happen. This is part of the "household pain" Jerry Powell publicly spoke about.
Don't know why this is all a big surprise, they said they have to crash the economy to get inflation under control. And they are in the process of doing just that.
The Biden Fed can print enough money for every illegal to own a home while you American Gringos are forced to rent.
“These “refreegeez” have big bucks. These are not your typical “immigrants”. They’ve got thousands to pay some “coyote” to bring them across the river “
A lot of them come across the border owing the coyotes money and they end up getting trafficked as slaves in order to satisfy their debts.
https://www.fairus.org/issue/illegal-immigration/human-trafficking-exploitation-illegal-aliens
Most bankers are predicting at LEAST another 150 point rise in Fed Funds Rate over the next few months
That could take mortgage rates to 7% or higher.
The average monthly payment on an average home mortgage now is already 70% higher than a year ago.
Imagine if it is double, or more?
Of course housing will crash.
“Monkey Werx” has said that China cut US off around 6 months ago. Very little is coming in from mainland China via sea.
Companies are already cutting back on inventory and the number of employees
The Fed is keeping the intent and the will of this administration,
including that "Grandma Featherhead", Yellen who 'didn't see this coming (Inflation)'
I import goods from China.
We are still getting our shipments through without much pain. It just costs more and takes longer then it used to.
Like Cheech says: hey man, things are tough all over!
Great........ I am house rich and cash poor since the media demonized Trump and Zuckerbucks bought the election.
Now I can be house poor and cash poor too!!!!
Ain’t life grand?
Interesting. Are you receiving entire containers via sea? Do they originate in Hong Kong or somewhere else? East coast or west?
Housing market crashing? Guess I will have to wait until it hits its lowest and then buy something instead of renting.
People with lots of money are buying property now and investing as fast as they can before things rupture.
Friend in real estate just sold 12 million dollar home by people who want to do so under the wire before things rattle too hard.
That also says buy long before Christmas to get what you want.
Actually, I used to go to Wal-Mart all the time.
Now, I have a house full of Chinese cr@p, and I DON'T NEED ANY MORE.
So that's why I don't go to Wal-Mart now.
They come across the border owing cartels money... that’s why Joe the Sniffer gives each ‘immigrant’ a free phone and free phone service... forever. ON YOUR DIME. So the cartels can keep track of where their ‘slaverylite’ indentured servants are...
My valuation went from 250K to 500K+ in only two years. Total horsepucky. No one is paying that. The house next door has been on the market for months.
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