US dollar lower, mortgages apps slump, dow takes a hit!
Ok so, a little bit of history on me. I am a licenced real estate agent. I have also worked in mortgages and have friends still in the field. Mortgage applications have been taking a hit this year and many of my agent friends have seen a slow down. This is in Texas where most of the time we avoid the main affects of a tanking market. Home prices have been on the rise and in many cities have exceeded the 2008 prices, but homes are struggling to sell. NOT a good sign. This might be the start of the new down market in real estate.
The US dollar has given back pretty much everything it gained since Trump was elected. I'd be putting my money in physical silver!
Last thing, the dow took a big hit today. Down over 370 points. Is this a sign of something on the horizon? With all the geopolitical tension, could be the correction many of us have been expecting.
Silver dragon out.
The term 'correction' is about the friendliest possible way to describe the bloodbath ahead...
Lol very true, but not trying to fear porn folks
Fear porn is about as credible as fiat currency.
Facts and figures can't be disputed, only misinterpreted.
:)
Indeed
its hard for me to see how Americas real estate is expensive when over here in canada, my friend jst told me his house is up for sale for 1.3m and everything needs renovations. The houses here dont even get sold by having a sign up, if its an asian owner, they sell it to another asian over sea that never sees the house. incredible. These homes in america are probably worth only 400k and thats only because its a 45 min drive away from vancouer (hour and half if rush hour)
More power to your friend if he sells now. Im fearful for the folks here or in Canada that will be on their butts when it hits the brakes. I read that one of Canadas largest morgage lenders took line of credit (essentially a bailout). Good luck my friend.
Home Trust was the mortgage lender that needed a bail out. I have a client who has GIC's from Home Trust in his Brokerage account, he was able to get out of one of them but there was no buyer for the other one...he is concerned about getting his money but it should be insured if the funds are not there when it comes up in December for renewal...time will tell , i think it is the tip of the iceberg...
4% decline in mortgage applications for last quarter i believe. Terrible news
I know...kind of alarming.
I yearn for the housing crash. I'm a millennial who has sacrificed socially with my housing arrangements so I could save, missing the 2007 situation narrowly. I really want a house, but I also know their prices are insane, so here I sit, waiting.
I have owned before and got out luckily while the market was favorable for sellers. I am a veteran and have the ability to purchase a home again with my vet benefit....i'm also waiting. Its hard because the rates are low, but the prices are too high. Once the collapse in housing occurs again homes will be at a deep discount. Hang in there, you will be glad you did.
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I agree! What can i do about it?
Overall the markets in a bubble. Which will be crashed when interest rates rise as the low rates have allowed prices to soar, far outpacing wages and affordability for most people. This was the obvious outcome of free money-a bubble, in which when it breaks, there will be a great sucking of money from the middle class. And, hopefully, a nice bail in by our friendly TBTF institutions :-)
I agree, everything is in a bubble. Nothing has really been fixed however we see record highs across the board. Stay frosty, keep stacking and build a network of trustworthy friends. Blessings friend.
Yeah, I forsee some turbulence ahead, will it be a slow trickle or a full blown damn event-who knows? In the meantime I am storing food, water, ammo. Silver will be good IF and only if theres a structured collapse of the market-which I think it will be unless derivaties meltdown.
IF it is not, people need ot understand that your Au/Ag are worthless until the system reflates. You need to think survival then profit. Best of luck to you from FEMA region 9