U.S. mortgage interest rates top 6% for first time since 2008. This will accelerate the housing collapse. People are freezing up on purchasing homes and so many people are sitting out sensing there is something wrong in this market. This is the first inning of this economic collapse. Child birth rates are down 20% since 2007 so we are below replacement. A very similar situation that is happening in a lot of these other 1st world countries. So we have to question how all these single family homes are getting thrown up and all these apartment buildings are being built. It is mainly because people spaced out and weren't living in shared situations and suddenly when the going gets tough they aren't going to renew expensive leases and they are going to end up grouping up with family or friends.
When all the gig economy apps are full and you can't even get on them you know something is going on. The point has been made that we have been hearing about how no one has any savings and are operating at redline for the last 5 years and the economy never collapses. It just keeps getting kicked down the road further and further. People say they can just print their way out of the situation but I think it is very unclear how they are going to get all that to fly when there has been so much money pumped in the system over the last two years.
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I blame the housing perception on Black (heavy thing)
They have been using free money to buy up tons of real estate.
Without much attention put on putting these houses back into the market.
So, they have basically been soaking up all the inventory for the last years.
And artificially creating a tight market.
With mortgage rates effectively doubling payments
then house prices will have to halve... but that takes a long time before people will lower their prices that much.
Then most of the mortgage companies die.
The small banks die.
Mortgages become scarce.
And then people die in droves from the VAXXX.
Soon, it will just be standard procedure to find an empty house and move in.
Soon after that, we will find that if your home doesn't have an attached greenhouse and is passive solar heated, then the house is too expensive to live in. Even at free.