US housing market in ‘much worse shape’ than Fed admits: economist

https://www.google.com/amp/s/nypost...ch-worse-shape-than-fed-admits-economist/amp/

Biden and the dems continue to wreck the economy. We have high inflation, folks are losing their jobs and Now it is the housing market.

How far will the dems go in destroying the economy?

They cannot be voted out fast enough. The passed that goofy Inflation Reduction Act, which does not reduce inflation and continue with disastrous policies.

Will you be happy owning nothing? That is the democrats slogan these days.

 

Of course the Biden administration is lying. They would cheat, steal, and kill to keep control.

 

The Housing market is going to experience massive overture as the moratoriums expire(and have expired). You can expect massive changes of property ownership as previous owners/tenants can't keep up with the backed up payments. The good news if you're a realtor in the market right now is that you can pick up properties on the cheap, just hope the repair costs are kept to a minimum lol.

As for the overall impact on the economy and society, obviously no one wants homeless people, etc and as more and more people move into slums and crowded areas, crime will and has increased lol. Like you said, the Democratic policy multiplies on itself.

 

Several eviction related killings occurred during the past week. Expect more when evictions intensify. You can thank Democrats with their free rent and lock down.

 

And they DO!

 

As to the bolded line:

Remind me when was the last time the bottom fell out of the housing market, and who was in charge? Incidentally, it also caused the greatest recession since the great depression. Are you going to blame Dems on that one, too?

 

I don't blame Biden. I blame the same person who was in charge both now and in 2008. Glad she won't be in charge next year

 

Who do you mean?

 

I bet he is talking about Pelosi. It's funny how conservatives think that, after full GOP control of the WH, the Senate, and the House for 6 years, the Dems taking the House in 1/2007 could have caused the crash of the housing market a few months later. It's as if conservatives have ZERO understanding of the fact that cause and effect in a complex macroeconomy are not immediate.

 

I blame all of the people who have been making tons of money in the real estate market for the past 10 years.

Banks, realtors, home remodeling companies.

 

Exactly what is much worse? That sales are going down?

 

I'll be quite curious to watch what happens with the housing market in upcoming months. I've been keeping a close eye on one specific area for many months now and price reductions seem to now be the norm along with homes sitting on the market rather than getting snatched up as they were not that many months ago.

 

The real issue is land and property acquisition by individual billionaires, foreign money laundering and hedge funds. The order I listed is not reflective of relevance...

 

I fully understand the crash of '08. There is plenty of blame to go around starting with Clinton. If you want to be naive and ignorant and blame it all on Bush, then go ahead. There isn't anything I can show you that will change a closed mind.

What Biden and company has done this time is to destroy confidence. The groundwork has been laid and they have lit the match. Again, there is plenty of blame to go around so feel free to find some sand to stick your head in.

As for me, I mostly blame these 4 people:

 

Err, I really do not know what else to tell you. I am sure you want to shill for the dirty dems.

 

What’s you concern. Can you be specific or is this another @doombug drive buy doom post?

 

And what should they have been doing?

 

Participating in professions that make the world better instead of reaping the rewards of capitalism.

 

So you don't think the housing market collapsing is a bad thing?

 

That is capitalism.

Boom, Bust

No one was complaining when home prices were surging, even though everyone knew what was coming.

 

The sky is not falling, Trump will never be POTUS again....relax, chill, medicate if necessary.

 

So if family wants to buy a home, where do they go now?

 

They wait for the prices to crash and hope that they aren't gobbled up by corporations wanting to turn them into renters.

That is how capitalism works. I don't like it, but there still too many people who believe that crap about the invisible hand for us to do anything about it.

 

And after the dems took over everyone knew it was imminent.

 

In my example, the are already renters looking for a mortgage. What you propose turns them into perpetual renters.