Burry must see some event or two unfolding.
It is curious that the Russian Ruble has gone up to a hundred per dollar in the past week. Also, if you notice real estate action, Zillow came up this week and said it was ending ‘house-flipping’ segment that it was engaged upon. Zillow said that whatever algorithm they had....was in failure mode.
I would suggest a different type of 2008 experience is about to occur, where banks shut down loans in a harsh manner...for both personal and commercial situations.
Go look at property insurance problems in both California/Florida. Lot of turmoil presently going on.
Thanks for the heads up.
There you have it.......
Bank mortgages depend on property Insurors to maintain the value of the collateral real estate in disaster.
The Insurors have learned the very hard way that in Florida and California, risk is such that the properties are not insurable. The banks are then in a perilous situation. Uninsured, the bank’s collateral has no value
So, the end game is no new mortgages.