Posted on 12/31/2022 8:42:14 AM PST by patriot torch
There is a hidden housing crash happening right now as you watch this video. While many seem to be ignoring the obvious, the real estate market has entered into crisis mode and what awaits us in 2023, is a disaster that could be worse than what we saw in 2008. While many remain skeptical due to some conflicting reports, fresh new data is pointing to a troubling future.
(Excerpt) Read more at youtu.be ...
Over simplified, but accurate.
He does not mention the currency inflation and the interest rate (directly).
This is a planned collapse on Global Scale.
Where will the price collapse be the most extreme? Where the big cities are controlled by the spend and tax #ComDem Party are in total control. And the places where the definition of obscene pricing have become accepted and unimportant issues.
When they dollar is destroyed, it will be the excuse to force the confiscation of property and everyone becoming renters. We are already part way there, via property tax.
Even if you own your home outright, the property tax alone could cause forced confiscation by the Government.
Will this cause the US to divide into Globalist vs Nationalist division of the nation?
Only God knows.
Black Rock has been practicing exactly what they describe on a large scale.
Interest rates are making the high price of homes beyond many people’s ability to pay. Insurance companies are also contributing to the affordability of homes, because their risk increases with price of home. Some of the companies are suckled at the ChiCom money teet. (also some of them are criminally crooked, I’ve seen that 1st hand.)
The effect of this will be less in short term in places like Florida and Texas where a huge influx (from inside the USA, not illegal alien) of new residents.
But they are: They're called multi-story buildings.
And the Dems (and most likely the RINOs as well) are advancing policies to replace neighborhoods of single-family homes with apartment blocks and condominiums.
This will result in a twofold reduction in home values as the supply will increase and the desirability of a home in a neighborhood where the house next door can be replaced by an apartment block at the whim of the planning commission plummets.
Good points.
Bump
You are correct in that in terms of housing as an alternative to stocks and fixed income investments, REITs will usually give one the better return. However if you live in an area of the country where there is little land left to build on and need a place to live for several years, you can still do well on your own home once you decide to move.
Costs are going down significantly. Lower land prices, much lower material prices, lower subcontractor bids, etc.
When housing prices were increasing at such high rates, there was high demand for those houses, and high demand for the stuff needed to build them, so everyone involved in the construction jacked up their prices because if one builder didn’t want to pay the mych higher prices, another builder would.
The market has changed significantly, so prices for everything has dropped accordingly.
It’s called “the law” of supply and demand for that reason.
It is Global unless we stop it here.
Texas has made moves to not invest state assets through anyone involved with ESG. Several other states have too.
ESB is catch phrase on investor side for the ChiCom social credit scoring process. Imagine, Global government that is you disagree with the Dictators, one switch cuts of your money. Period.
That is where they want to take us.
We either Clean Out DC. Or the nation will be totally destroyed and all of us become slaves.
Freedom Works. Totalitarianism always fails.
Free men own weapons, Slaves do not.
Remember that. When we are asked to STAND.
It's TIME to #DownSize_DC!
Restore the Constitution!Size DC!
you mean his ‘locusts’ :|
“My personal view is that rates were held too low for too long “
I’m no expert but tend to agree. The rates were absurdly low.
Yes.
“whim of the planning commission plummets.”
It’s worse than that in California. The state effectively did away with R1 residential zoning. You can split your quarter-acre lot in two and build two huge homes. Then you can put a granny unit in the rear of each home. Now you have four homes where one used to be and no increase of parking. Neighborhoods ruined, highly congested, streets filled with cars.
It’s the worst state government in the nation. Zero protection for those who own property in nice towns. The state is effectively stealing the value of your home from you.
The problem appears to be self-correcting, though. California is losing a lot of population, and I’m sure policies like this are contributing to the decline.
Good advice.
My daughter and SIL sold their house while market was at the top. Paid $50k for a bank repo on ten gorgeous. wooded acres. Remodeled to double the size with inherited money, put in brand new top-of-the-line kitchen new deck, new floors with more inherited money. Put on the market for $610,000 and sold it in two days for $620,000- to a young family from Seattle getting away from the madness.
Sounds like a win-win to me.
I think this is being done in a lot of places, i.e. Liberal cities around the country. Obama started this with his goal if eliminating single family housing (except for him).
1. Many people don’t have to live in close proximity to their employers anymore.
2. Related to the previous point … One of the biggest reasons for putting your home up for sale on short notice — i.e., you’ve lost your job and must relocate — doesn’t have the same influence on the real estate market anymore. The last two people in my circle of close friends and family members who changed jobs never had to move even though they are now working for new employers in a different time zone.
Yes, Obama’s DOJ started it in Westchester County, NY. The bastard.
That’s two words.
I was thinking of the Aesop’s Fable of the Ant and the Grasshopper.
Biden is robbing the ants. He makes his BS anti-American economy benefit his grasshoppers.
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