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Foreclosures are ticking up, bankruptcies slowly increasing, subprime auto about to go critical, add in credit card debt, government overspending causing property taxes to rise, and banksters going nuts. Then you have the formula for nice, sweet 30% market correction at a minimum in prices in the hot markets; in some cases 50% housing market crash.
Nationwide, housing peaked in late 2017. Prices have been falling ever since .
The housing market bubble has popped, folks…
Harry Dent is back predicting real estate prices will “fall 50%”.
Harry is absolutely right. Double bubble real estate is one of the top ten biggest ripoffs in the world today. Stay away from bubble real estate at all costs. All a house is is some drywall and two by fours, and a lot of headaches. What a laugh. But warning the real estate players they are in a housing bubble is like telling smokers that smoking causes lung cancer (90% of lung cancer deaths are in smokers).”Smoking will kill you” is printed right on every pack. And yet they don’t listen. The smokers just keep right on smoking because they are so very addicted to it–they like that nicotine buzz–just like the RE players are addicted to that easy free money for doing nothing.
Greed has blinded participants in this (and most other) markets for about the last five years.
With the reduction in capital expenditures, refrigerator boxes are in high demand.
Housing market crashed 40%+ during the last crisis, and the Fed couldn’t prevent it.
Neither the housing market nor the stock market will crash until the exorbitant privilege of the bankers and the ruling classes to print money and manipulate prices is taken away.
Americans don’t use a lot of savings to buy homes… Even with these abnormally low rates, first time home buyers can’t get into these houses because many do not qualify for a mortgage because of a bad job or credit score (the days of NINJA loans are over, for now). Even if these prices decrease, they’re not going to be able to get into those houses. Look at what auto is doing now; they’re reverting to subprime lending to get their massive stock of cars sitting on their lots out.
In America, the government, coupled with a slew of builder and Realtor associations control the housing narrative. The entire shithouse is about to blow up and collapse at free fall speed. It is only a matter of time before the next housing crash happens, and it looks like it could be a really, really bad one.
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