Mortgage Market Meltdown! Delinquencies Reach Highest Level Since 2011! - Must See Video
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A house was a need, then it became an asset, and now an investment, and even speculative instrument in many cities.
Buying a house in 2020 would be like buying a house in 2006!
Anyone who buys a house right now is either a millionaire or an idiot.
In about September or a little bit after, the government stimulus package will end, and you will see the real economy plays out. Layoffs will skyrocket, followed by bankruptcies, followed by foreclosures, and followed by the great abyss of depression.
The average house is way beyond affordable for the average income in many areas of the country.
We are overdue for a correction.
It is a myth that an average income person should be able to afford an average priced home. There is a reason why less than 2/3 of Americans own their homes, and the rest are renters.
If you have a mortgage or you’re looking to take a mortgage out in their future or even refinance, then you definitely need to watch this video to make sure that you’re fully informed. There is a clear imbalance between the state of the economy and the price level in the housing market. To take advantage of the low mortgage rate, it’s unwise to pay $100K more in the conforming or $200K more in the jumbo market. V-shaped short-term reversal is not ‘necessarily’ recovery; a recovery is a sustainable event, so it’s too early to talk about recovery.
Nobody in their right mind should acquire any more debt at this time. Instead, everyone should focus on getting out of debt and save, save, save for that mansion that’s around the corner.
The average house is way beyond affordable for the average income in many areas of the country. We are overdue for a correction. The housing crash will happen after the auto loan default and credit card default. The housing market will be called next; it is a domino effect.
The U.S. Housing Market Crisis Is Inevitable; Here’s Why.
Today U.S. household debt tops $14 trillion and reaches a new record.
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