Loading ...I’m sticking to my original “guesses”. The whole economy is in the eye of the storm. Nothing is the way it looks. The future is always a surprise, and the masses are like a big herd of wildebeest, that don’t notice when a few of them around the edges of the herd get eaten up by alligators lions and tigers. 🙂
Real estate around me has many borrowers not paying. About 2 in foreclosure for each one for sale. The front page yesterday boasting about prices up 7% because lack of inventory. Boasting about high r/e prices is the same as boasting about higher FOOD prices, or higher GASOLINE prices.
People need food fuel and shelter. Higher prices require higher incomes for employees and bigger profits for employers. No boasting about that though. Seems like the banks are avoiding evicting dead beats. Many are now 5 years not paying. Make a down payment, get a mtg loan, and don’t even make the 1st payment. Nobody cares. This situation is spreading. Monkey see monkey do.
Another to look at the US economy? Its been in a slow motion invisible great depression since the gas lines in the 1970s.
P.S. re real estate. I think millions of refugees with money are moving into and buying up NYC real estate at high prices in cash. (remember Japan bought Times Square at the top) This is making natives in NYC cash out high, and move into the suburbs cheaper, not caring about a high price. Plenty of money left over, If this ground swell continues it will be a classic case of billions of Dollars outside the country hitting us in the face.