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Title: Disco Inferno: Fed Official Finally Warns of Housing Bubble
Source: [None]
URL Source: https://dailystormer.name/disco-inf ... nally-warns-of-housing-bubble/
Published: Apr 3, 2022
Author: Andrew Anglin
Post Date: 2022-04-03 09:29:10 by Ada
Keywords: None
Views: 165
Comments: 2

The ride is over. Big time.

This is only a local fed branch, but someone said it, so now it is out there in the public.

RT:

The Federal Reserve Bank’s Dallas branch has warned of a “brewing US housing bubble,” saying that prices have surged beyond levels justified by market fundamentals, creating risk of a market collapse.

“There is growing concern that US house prices are again becoming unhinged from fundamentals,” Fed economists said in a research report posted earlier this week. “Our evidence points to abnormal US housing market behavior for the first time since the boom of the early 2000s,” they added.

That boom preceded a market bust, triggering the 2007-2009 global financial crisis. However, if the current bubble bursts, it wouldn’t likely cause as much economic fallout because consumers aren’t as financially overextended as they were in the early 2000s, and excessive borrowing doesn’t appear to be fueling the current price rally, the Fed said.

I don’t think that last part is true.

This is all a fake economy.

A house is only worth like $25,000-35,000 in materials. So if it is selling at $3 million, you have something different happening.

I can tell you what happened: it’s called “inflation.”

When the dollar stops holding value and interest rates are ultra low, people start monetizing assets. So, when the fed started printing all this money during the coronavirus, all of that money had to go somewhere. So it went into the prices of stocks and property. Plus crypto and collectibles and everything else. I saw someone post that although his house’s value has gone up drastically, his classic Porsche 911 is worth more than his house.

This is something that the government is supposed to manage, to allow money to be a stable means of exchange, which prevents bubbles. To be printing infinity money and have infinitely low interest rates means that the money cannot maintain its value, so people put the money into real and financial assets, and thus you get bubbles.

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Begin Trace Mode for Comment # 1.

#1. To: Ada, 4um (#0)

I can tell you what happened: it’s called “inflation.”

There's more to it than that. I think there's some kind of mass hysteria going on with people that they can't control themselves and need to just keep accumulating more and more stuff.

I've got a friend going through it, and he's on a path of self- destruction and can't be reasoned with. He already owns three houses, his residence and two rentals, about 10 vehicles, a semi tractor-trailer, three Hawgs, two cargo trailers, etc. The straw that's breaking the camel's back was a house that should've been condemned that he paid four times too much for, with the delusion that he was going to be able to afford retirement by converting it to an Air B&B DUPLEX. It's an unmitigated disaster. He's begging me for money, but won't give me one of his vehicles as collateral. Screw that. He needs money, I need a grocery-getter car.

What he doesn't understand and won't listen to about is the coming housing/economy collapse. People aren't going to be using Air B&B rentals when they can't afford food or gas. I'm sure his wife saw some get-rich-quick scheme on FaceBook or something and has her eyes on the stars and head up her ass. I try to give him advice, on my own time, but everyone involved in this deal is overwrought by the current housing hysteria. I suppose if they live deep into the 2200s, they might see their first dollar of profit. Not likely with them being in their 60s.

Long story short, this type of hysteria typically signals the end of any mania, be it tulips or houses. Yeah, a crash is imminent. Sound collision. Blackrock is really fucking up housing buying up any properties at way inflated prices also, further compounding the problem.

Esso  posted on  2022-04-03   10:26:01 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 1.

#2. To: Esso (#1) (Edited)

the end of any mania

We used to get S&H Green Stamps in Chicago for purchasing products from Wiebolt's Department store and certain other stores. The stamps could be redeemed for products from the S&H catalog. That program lasted until the 1980s.

On the day MLK, Jr. was shot and killed in Memphis, my Mom was on the way home from Montgomery Ward Catalog pick up. She told me, "Those people came running out of those buildings (on Clyborn Ave). They put a brick in the windshield and a bottle thru the driver side window." She got a small cut on her pinkie.

She stopped to talk to a cop and he told her, "Go home and call the station." :-/

BTP Holdings  posted on  2022-04-03 15:03:29 ET  Reply   Untrace   Trace   Private Reply  


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