The Fed Has SPOOKED the Real Estate Market! Housing Slowdown Will Get Worse!
The chaos which took place leading up to 2008 was able to cool off for a few years as foreclosures and deleveraging became widespread. But it didn’t take long to heat up once again. Today we can see the euphoria and delirious behaviour particularly in major cities around the U.S, Canada, the UK, Australia, New Zealand, Hong Kong, and in just about every other country. But there’s certainly one thing that could turn this around.
Thousands line up for zero-down-payment, subprime mortgages
https://www.cnbc.com/2018/10/12/thousands-line-up-for-zero-down-payment-subprime-mortgages.html
Mortgage Rates Fast Approaching 5%, a Fresh Blow to Housing Market - WSJ
https://www.wsj.com/articles/mortgage-rates-fast-approaching-5-a-fresh-blow-to-housing-market-1539266400
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Freddie Mac on Twitter: "Mortgage Rates Rise to Highest Level in Seven Years: https://t.co/Cj2GH9Tofy Chief Economist @TheSamKhater: "Rising rates paired with high and escalating home prices is putting downward pressure on purchase demand." #mortgagerates #mortgages… https://t.co/G7OS05el16"
https://twitter.com/FreddieMac/status/1050389200661598208
The big banks have started hiking fixed mortgage rates, but home buyers don’t need to panic - The Globe and Mail
https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-scotiabank-becomes-first-big-bank-to-hike-fixed-mortgage-rates/
Mortgage rates on 30-year home loan hit 5 percent
https://www.usatoday.com/story/money/2018/10/10/mortgage-rates-30-year-home-loan-hit-5-percent/1588544002/
2018 Cost Burden Report: Despite improvements, affordability issues are immense - Rentonomics
https://www.apartmentlist.com/rentonomics/cost-burden-2018/
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NYC real estate becomes a buyers market, as homes take longer to sell
https://www.cnbc.com/2018/09/30/nyc-real-estate-becomes-a-buyers-market-as-homes-take-longer-to-sell.html
Hong Kong commercial property and housing markets face slowdown as trade war, souring sentiment bite | South China Morning Post
https://www.scmp.com/property/hong-kong-china/article/2167544/hong-kong-commercial-property-and-housing-markets-face
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If more people who bought homes treated them like a precious asset that they are, and don't try and make them part of a get rich quick scheme, we could bring the market back to some rational existence. The fact that the Federal Reserve's interest rates are such a focus shows just how leveraged society has become to the bankster infused debt model. We need to break free of this, embrace frugality and thrive. The planet needs us to get some responsibility and respect.
The rental markets are in flux too .