XPost: talk.politics.misc, alt.economics, alt.politics.republicans
XPost: alt.elections
https://www.dailymail.co.uk/yourmoney/property/article-12815249/Americas-property-FREEZE-Pending-home-sales-fall-lowest-level-record-declining-faster-rate-2008-housing-collapse.html
Home sales fell in October to their lowest level on record,
declining at a faster rate than during the 2008 housing
collapse, new figures show.
The Pending Home Sales Index from the National Association
of Realtors (NAR) found transactions slumped 1.5 percent
in a month. Over the year it means sales dropped 8.5 percent.
It brought the NAR's index down to 71.4 out of 100 - its
lowest figure since it began in 2001. An index of 100
indicates it is equal to the level of activity at the
start of the millenium.
Soaring mortgage rates and still-high house prices have
poured cold water on America's property market.
. . .
BIG surprise eh ? :-)
Yep ... *POP* yet AGAIN. SAME mistakes/greed as in 2008,
hardly ancient history, and NOBODY CARED !
This will put a BIG strain on banks and other lenders
right when they are most vulnerable for a number of
other reasons. They were in a reasonably safe spot
in 2008 ... but not NOW.
I've seen numerous seemingly-unrelated stories about
large-scale closures of Big Bank branch offices over
the past six months. Now I don't think it's so un-related
at all ..... they KNOW what's about to happen. Circling
the wagons, so to speak.
Yet, of course, they KEPT approving loans for stupidly
over-priced properties, just like before. Likely a few
at the tippy-top got huge bonuses/kickbacks and they
don't CARE if the whole system takes a huge hit (again).
Hey, the Fed will bail it out ... by (trying to) borrow
more money, much from our Enemies.
In any case, this is happening NOW. It will RUIN the
Dems chances next November. Alas the victors will
inherit a real MESS that won't be fixed overnight -
and then the Dems/MSM will rag on *them*.
The bigger question is WHY does everybody fall for
the Same Old Disaster Path OVER AND OVER AND OVER ???
"Oooh ! We're gonna Get Rich Quick ! Charge a megabuck
for that 1949 one/one !" ... ???
Oh yea, and why does anyone BUY that 1949 1/1 for
a megabuck ???????? WAY too much dope as a kid ???
--- SoupGate-Win32 v1.05
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