Welcome to the Real Estate Industry Apocalypse

Source: LRC
Published: Sep 13, 2023
Author: Michael Snyder
Post Date: 2023-09-13 03:40:48 by Charles_Byrd
Views: 1576

Higher interest rates are absolutely strangling the real estate industry, and there is no relief in sight. The sudden shift from a very low interest rate environment to a much higher interest rate environment has paralyzed sales. As I have discussed previously, very few homeowners that are currently locked into a mortgage at a low interest rate want to sell, because buying a home to replace the one that they are selling would mean taking on a mortgage at a much higher rate of interest. And millions of potential home buyers have been chased out of the market because of the exceedingly high mortgage payments that they would be facing if they pulled the trigger on a purchase right now. So sales of previously-owned homes have dropped by more than 32 percent over the past two years. In other words, about a third of the entire previously-owned home market has already been wiped out.

When home sales crash, everybody that works in the real estate industry suffers.

Click for Full Text!

Post Comment   Private Reply

#1: watchman    To: Charles_Byrd (#0)

Hordes of middle class Americans are being pushed into poverty, and hordes of impoverished Americans are being forced into the streets.

And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.

In the tribulation, the black horse rider brings mild but crippling inflation. Note that people are still working but their wages do not easily pay for the necessities of life. I say mild because people who have plenty of money (the olive oil and the wine denote wealth) are, of course, not "hurt" by the inflation. We are seeing that now.

So I hope that you have been getting prepared for what is ahead, because most Americans are going to get completely blind-sided by what is coming.

"What is coming" is the pale horse. MadMax.

And I looked, and behold a pale horse: and his name that sat on him was Death, and Hell followed with him. And power was given unto them over the fourth part of the earth, to kill with sword, and with hunger, and with death, and with the beasts of the earth.

watchman posted on 2023-09-13 07:39:30   Reply   Private Reply