Rates going to start tumbling like 2008.
Maybe because the smart money knows that houses are insanely overpriced, and the loss of FedBux "value" when Housing Bubble 2.0 implodes is going to be stupendous
byu/Boo_Randy_II inWallstreetsilver
Mortgage Demand is 34% below pre-pandemic norms, 55% below the pandemic peak and lower than 2008-2012 crash
byu/Altruistic_Horse4104 inREBubble
Remember when the lying, captured "experts" predicted a soft landing for the housing market in 2006? Now these same liars are recycling the same lies as the Fed's Housing Bubble 2.0 is starting to burst.
byu/Boo_Randy_II inWallstreetsilver
Leading economist Mark Zandi has warned that a third of the US is already in or at high risk of going into a recession.
Zandi, chief economist at Moody’s Analytics, revealed that states making up nearly a third of America’s GDP – including Virginia, Connecticut and Delaware – are in dangerous territory.
‘States experiencing recessions are spread across the country, but the broader DC area stands out due to government job cuts,’ Zandi wrote on X.
It comes after President Donald Trump and Elon Musk went on a firing spree earlier this year in an attempt to reduce the cost of the federal workforce.
States representing another third of the economy are holding steady – such as Hawaii, New York and California – and a final third are still growing.
‘Southern states are generally the strongest, but their growth is slowing,’ he explained.
South Carolina, Alabama, Kentucky and Louisiana all made the list of states still growing economically.
‘California and New York, which together account for over a fifth of US GDP, are holding their own, and their stability is crucial for the national economy to avoid a downturn,’ Zandi added.