Housing Bubble 2.0 is bursting, and the wipeout of Yellen Bux "wealth" is going to be epic
byu/Boo_Randy_II inWallstreetsilver
Foreclosures climb in this major city—and even the most elite ZIP codes aren’t spared
New York City saw a double-digit increase in foreclosure rates this spring, with mortgage defaults affecting even some of Manhattan’s most prestigious ZIP codes—although the borough did not lead in home seizures.
New York City’s overall foreclosure rate jumped 11% in the second quarter of 2025, covering the months of April-June, compared with a year ago, according to the latest metro foreclosure report from PropertyShark.com.
Home to 1,628,000 people, the borough of Manhattan experienced 46 new foreclosure filings this spring, representing a 15% year-over-year hike.
Eight of the defaults were concentrated in the high-priced 10022 ZIP code, which includes a portion of Park Avenue—famous for its luxury homes, upscale shops, and immaculately landscaped flower beds.
The reason you can't sell your houses, greedheads, is that they're 40% overpriced thanks to the Fed's expansion of the money supply
byu/Boo_Randy_II inWallstreetsilver
Homebuilders are slashing prices at the highest rate in 3 years
The nation’s homebuilders continue to see weakening demand from potential buyers concerned about the broader economy. As a result, they are cutting prices at the highest rate in three years, according to the monthly builder confidence survey from the National Association of Home Builders.
Builder confidence in July rose 1 point to 33 on the NAHB index, a slight improvement. Still, anything below 50 is considered negative sentiment. The index stood at 41 last July, and it has been in negative territory now for 15 straight months.
The slight boost this month came from the recently passed budget act, which provided some tax relief for households, home builders and small businesses. Mortgage rates, however, have been hovering in the same narrow, elevated level for several months.
"Investors" who bought condos at the peak of Canada's scamdemic-era housing bubble are well and truly buggered as prices are collapsing
byu/Boo_Randy_II inSilverDegenClub