The Housing Crash Has Begun

In 1991 we bought the house we still live in.  Our mortgage rate was 10%.  9 years later we refinanced to 7%.  Some years later we refinanced to a 10 yr mortgage @ 3% and it was all paid off 3 years ago.  I’ve said it 100 times that Americans don’t care what things actually cost.  Nope, they care what their monthly payment is.  So let’s say you have $1500/ month to spend on a house.  At 10% mortgage rates you may only be able to bid $150,000 for your dream house.  But as rates came down these past 24 years, that same $1500/mo might have you bid that dream house up to $300,000.  So when interest rates are down, property values go up.  And when interest rates go up, eventually property values go down.  So people who paid $800k for a house in Anywhere, USA two years ago might find that it won’t sell for anywhere near that price.  That’s how this housing crash will work.

Of  course there is always something that could disrupt this reality.  I’ve read that Blackrock, Vanguard and State Street have trillions to spend and they plan on buying up every single family home they can buy in America.  Why?  Because they already own 90% of the S&P 500 and want to own other assets.  Also this would play into the globalists plan of “you will own nothing and be happy!”

Watch this video below.  Notice the part about Dave Ramsey and how impossible it would be for any of our kids to meet his recommendations for buying a house today.

 https://youtu.be/zavGPBw1iZ8?feature=shared