Housing Bubbles Ready To BURST Throughout The US! - Markets Are OVERHEATING!
One of my latest reports. Stay tuned for more!
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Josh Sigurdson talks with author and economic analyst John Sneisen about the massively overheated housing bubbles throughout the United States.
From Las Vegas to Washington, DC, the markets are becoming incredibly overheated and we can thank central banks, banks and government for that. The level of manipulation is extraordinary and it's going to lead to an epic crash as the bubbles burst simultaneously.
According to CoreLogic, half of the 50 largest housing markets are overvalued. The CoreLogic Home Price Index was up 7% in September compared with the same period last year.
Las Vegas' year over year home price index increased 9.7%!
Denver, Colorado saw an 8.4% increase while Los Angeles came in third with a 7.1% increase.
Out of the 100 largest U.S. markets based on housing stock, 36% are overvalued!
Banks are doing exactly what they did in 2007. We're seeing an increase in collateralized debt obligations (CDOs), credit default swaps, mortgage backed securities and we see an incredibly dangerous level of centralization by the government, banks and of course the Federal Reserve.
This is all happening as people rush out of the stock market while people with no foreknowledge of these trends celebrate over highs in the stock market. The US dollar is ready to crash at any time, though fundamentals are completely off the table, so there's no saying when, we just know it will indeed happen.
Still, they build and build.
Allthewhile, individuals who have no knowledge of the housing market watch TV shows about people fixing up houses and selling them for more and they unknowingly walk into an overvalued market and risk everything.
We are seeing these overvalued markets on a global scale. It's not just a US thing. Toronto and Vancouver, Canada are seeing incredibly overvalued markets. So is London, England. Then there's Oslo, Norway. Sydney and Perth, Australia. We see a crisis building up in Iceland and the list goes on.
In fact this hardly covers the true extent of what's happening just in the United States with Seattle's housing market out of control. Same with San Francisco.
Long story short, it's time people educate themselves on the fundamentals of the markets. It's time people stop seeing their houses as an asset. It's only an asset once you've sold. The risky attitude of so many is what lead to countless people's lives being ruined in 2007 and it will happen again, just at a far more epic scale.
There are many places that are good to buy. Places that can expand at the same time as have demand to feed off of, but people should be incredibly weary of this market. In our opinion anyways.
Stay tuned for more from WAM!
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I can't wait for the Canadian market to tank. Those ridiculously-priced condos in Toronto will be the first to fall. $300k for a 600 sq.ft shoe box? WTF is that?
Yeah, well Toronto's already falling. It's down to the same rate as it was a year ago which says a lot considering the vastly growing home prices.
That's good to hear. At least the condos are getting cheaper.
I actually think the Canadian housing bubble could be the one that starts the next downturn.
Maybe a good time to buy a house would be next year?
It would be nice if property values would come down. People ask way too much these days.
I think you are 2 years early. And I think the bubble this time around will not start in housing.
There is $1.4T in consumer auto loans. Something like 25% are given to people with no credit! The default rate has been ticking up. The auto industry peaked last fall. We only recently had a temporary spike in car sales due to the hurricanes.
There is a over $1T in student loans. People are defaulting on these.
There is as much as $7T in unfunded pension liabilities. Illinois and California are leaders in this stinking mess and people with wealth have been leaving Illinois in droves over the past few years.
Yup! We've reported on all of that.
The banks are putting out a ton of auto backed securities while demand is plunging.
The fundamentals are completely off the table due to the level of manipulation so it's hard to say what's going to happen first. We aren't going the Peter Schiff route of constantly saying "next month!" haha So we're not saying it's immediately going to happen, but all the tell tale signs are out and swinging. It's only a matter of time. It technically by fundamentals should have happened already.
Well it's about time something happened.
It's true. Real estate in various countries is overvalued. Further, looking from the demographic prespective, the baby boomers are getting older and will leave their houses/ flats one day in order to move into nursing homes. This developement will send the real estate prices south.
DTube still not working Sir⁉️ Its getting better , now I can see the screenshot , but the video won’t launch❓I think Google and YouTube are HACKING STEEMIT . Doesn’t matter , I’m avoiding their junk as much as possible , and at this point they can’t put the genie back in the bottle , so they’re trying everything they can to disrupt the truth . But it is already too late ❗️
Hi ,
Thanks for the great content