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.
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.
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)'
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?
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.
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.
“You are going to have a major crash in the housing market and housing prices are going down,”
This has been an inevitability for well over a decade now. The real thing that has changed is that the current economic pressures make it untenable for banks and the federal government to continue to artificially prop up real estate prices. So we will have the overdue crash, and then then market may return to being ruled by normal market forces, until the fed and banks are able to start interfering again.
Seems a lot of people want to move here (Juno Beach/Jupiter/Tequesta) for one reason or another. While I can see real estate prices dropping in the near future, not here. Bad thing is appraisals are catching up and taxes are rising.
In some markets it will drop 25% over the next 18 months...assuming the Fed does the right thing.
Oh the humanity!
good. i’ll wait to buy then.
It’s ugly out there and going to get much uglier.
Read later.