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posted ago by Realwomenfortrump ago by Realwomenfortrump +474 / -0

She works in mortgage and is saying the housing market is going to crash. She is scared for her kids and their ability to eat.

Comments (53)
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Logan051361 19 points ago +19 / -0

Also keep an eye on china and evergrand. If they all start to implode it will hit everywhere. And watch the market. It's expected to plummet soon. Stock up on everything, it's going to get ugly

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Sansa_Belt 8 points ago +8 / -0

Yeah, the Chinese housing market is in free-fall. A lot of speculation buying in homes that were never occupied among other things.

I think that I'm going to get that refi before the SHTF.

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hey_spike 1 point ago +1 / -0

China stocks (Hang Seng index) have declined 21% since Feb high. Many companies have been pulling out of China. CCP sucks. China is a bad place to do business in the long term.

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Realwomenfortrump [S] 16 points ago +16 / -0

She works in mortgage. She is predicting the housing market will crash.

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SauronWasFramed 17 points ago +17 / -0

That’s a good time to buy. It’s what I’m waiting for. The crash.

Got banned from some political sub on retarddit for pointing out there would be a housing crash and recession next year.

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zicke 12 points ago +12 / -0

I bought mine during the last one. Cash, no mortgage, that's how cheap houses were going for at the time.

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hansgruber7 10 points ago +10 / -0

Depends what kind of crash we're heading for.

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powershellder 5 points ago +5 / -0

Right. Hyperinflation is very possible.

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hansgruber7 3 points ago +3 / -0

Exactly. That's usually what happens in collapsing degenerate societies.

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Comntrinchief 2 points ago +2 / -0

What do you call what we have right now? Natural gas in Maine is double what it was three months ago. For JAN-FEB future prices are over $20! This is the highest they have been in eight years.

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Logan051361 8 points ago +8 / -0

Yep, I'm waiting for the same. Hope it falls out the bottom.

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chicago_prisoner 6 points ago +6 / -0

They banned you for that??? Just for saying there was going to be a crash or did you add something else?

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SauronWasFramed 6 points ago +6 / -0

Pretty much was talking about the local price of real estate in a community and how expensive it was. So newbie was asking about the market and most replies were, ‘it’s god awful expensive here’.

I told the op to wait a ear or so as bidenomics will crash the real estate market and you could jump in at tat time. It will inevitable.

Banned

For not being a demotard

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deleted 2 points ago +3 / -1
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FitOfficial 8 points ago +8 / -0

How is raising rates going to make the market crash?

Rates are ridiculously low right now. That's why so many people are moving and inventory is so low. I don't get how that's going to take away the value anyone has in their current property or make them unable to pay their current mortgages at the current rates unless they were crazy enough to sign up for variable rates or something to that effect.

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Realwomenfortrump [S] 9 points ago +9 / -0

Raising rates slows down people from buying houses and refinancing their mortgage. It slows down the economy for a multitude of reasons also aside from the mortgage industry. Less business equals layoffs.

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FitOfficial 5 points ago +6 / -1

"Slows down" isn't a crash.

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Realwomenfortrump [S] 9 points ago +10 / -1

Look up how high inflation is and then look up the correlation between high inflation and market crash.

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FitOfficial 3 points ago +5 / -2

For the stock market, sure. We're talking about the housing market.

By all measurable metrics the drive in housing cost seems to be a rubber band effect from the stall in new construction after the recession around a decade ago coupled with a desire to move from cities to more rural areas (thanks Joe). New construction didn't keep pace with the population. That's not necessarily "inflation" but rather unmatched demand.

So, again, YOU are throwing the word "crash" around. Support your statements and stop pivoting to "do your own research". No, YOU support your own damn claim.

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556y308 2 points ago +2 / -0

We got an MMT guy in here!!!!

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deleted 0 points ago +1 / -1
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FitOfficial 1 point ago +1 / -0

The implants aren't buying houses. They're renting.

Yes, it will crash again, and there hasn't been any evidence presented as to why it would crash in its current state, which is what I asked for given OP's claim was "crash incoming".

No, I have a fixed rate because I'm not a retard.

Banks make money hand over fist even at these interest rates.

What piper? Most people are locked into their current low rates.

Same here, still building, still can't keep up with demand... no sign of a crash in site.

3
traitor_joes 3 points ago +3 / -0

Current mortgage rates are at a historic low (sub 3%) and even if the rates get hiked to 4%--which won't happen for a while--it's still super low. The Fed had said they won't be raising the rates until 2022 or 2023. There's still very low inventory, strong demand, and strict lending requirements so I don't see why the housing market would "crash."

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deleted 1 point ago +2 / -1
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eddedandedamame 6 points ago +6 / -0

Raising rates = layoffs = people who bought houses in the last year using stimulus money just to scrape a downpayment and minimum monthly payment together will have less income, and their spending power will be reduced as inflation makes food, utilities, gas more expensive.

These houses were likely purchased in bidding wars above the listing price. Many people bought (chose to buy) at the absolute ceiling of their month-to-month budget.

Unfavorable consumer sentiment about current prices will drive the median price down. For people who face a crunch because of rising costs of goods, employment changes, and their maxed out monthly mortgage payment, selling underwater is a likely scenario. And seller urgency = buyer power = more pressure downward on price.

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traitor_joes 3 points ago +3 / -0

I've been involved in several bidding wars over the past few months and I can tell you that the party that ends up winning the bid are usually corporations, investors flush with cash, or higher income individuals from out of state. The average joes you described cannot compete and are priced out of the market.

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FitOfficial 3 points ago +4 / -1

I think you're vastly overestimating the amount of people that chose your worst-case scenario. If your initial synopsis were true of a large portion of buyers you'd probably be spot on, but I don't see any data to support that being the case.

I've been pretty in depth in my local market for the past year for various reasons and almost every purchase that's occurred at or above asking is someone moving in from out of state that has more buying power because their current cost of living is higher. Been in constant contact with my realtor and that's been the case with nearly every house she's dealt with.

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deleted 0 points ago +1 / -1
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FitOfficial 1 point ago +1 / -0

So meaningless doomsday predictions with no timetable because you'll "eventually" be right.

Cool story.

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shaven_llama 4 points ago +5 / -1

Prices will come down some if rates go up, but there's definitely a supply problem, so I don't see a 2008 style "crash" happening anytime soon.

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Comntrinchief 3 points ago +3 / -0

The FED said yesterday that they will not be raising rates until mid next year. It’s the only reason the market didn’t crash today.

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Arden 2 points ago +2 / -0

Lol

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FutureVRPilot 6 points ago +6 / -0

Everybody forgot to mention existing homes will sell but new homes won't be built or will be too expensive based on just the wood prices that's good to cause the housing market to slow way down regardless of interest rates

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deleted 0 points ago +1 / -1
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realeagle 4 points ago +4 / -0

This will work:

Dear xxx,

I received notice that the COVID-19 vaccine is FDA approved and that you are requiring the vaccination for continued employment. I would be happy to take the vaccine. On advice of my attorney xxx (my sister-in-law, but you can use a doctor or whoever, or even just as something you want) it was recommended that I should opt to take the FDA approved vaccine called Comirnaty for legal reasons. On further review, however, it appears that the FDA vaccine is not available yet in the US. Please see the sources below this letter. Could you provide an exception for this until the vaccine comes onto the market. It was indicated by the justification for the company mandate that the vaccine is FDA approved and I would therefore be more comfortable taking the FDA approved vaccine.

Thank you, xxx

My lawyer can be contacted at: xxx xxx

Sources:

  1. From a letter to the FDA from the US Senate:

https://www.documentcloud.org/documents/21054683-sen-johnson-letter-to-fdas-woodcock

In the letter that reissued the EUA for the Pfizer-BioNTech COVID-19 vaccine, the FDA stated that Comirnaty and the Pfizer-BioNTech COVID-19 vaccines are “legally distinct with certain differences that do not impact safety or effectiveness.”4 That statement, together with the fact that the FDA issued two distinct letters – one extending the EUA for the vaccine used in the U.S. and the other granting the FDA approval of the Comirnaty vaccine used in Europe and other countries – has caused a great deal of confusion.

As I stated to you in my letter dated August 22, 2021, “I see no need to rush the FDA approval process for any of the three COVID-19 vaccines. Expediting the process appears to only serve the political purpose of imposing and enforcing vaccine mandates.”5 Because the FDA-approved Comirnaty vaccine is not generally available in the U.S., but the Pfizer-BioNTech COVID-19 vaccine will continue to be used in the U.S. under a reissued EUA, the FDA seems to be confirming my suspicion.

  1. News article dated Sept 3, 2021 - "Newly Approved COVID-19 Vaccine Not Yet Available in US":

https://www.theepochtimes.com/newly-approved-covid-19-vaccine-not-yet-available-in-us_3976794.html

The FDA and the Centers for Disease Control and Prevention (CDC) declined to answer or did not respond to questions about when the approved vaccine, dubbed Comirnaty, would be available.

Pfizer did not answer directly when asked and BioNTech did not return an inquiry.

But health officials from states across America confirmed to The Epoch Times that they do not have any Comirnaty doses, and that none are expected soon.

“Comirnaty-labeled doses are not yet in circulation in the U.S. yet,” a spokesman for the Arizona Department of Health Services told The Epoch Times in an email.

“There is no timeline for when the branded product will start to be shipped,” a spokeswoman for the Tennessee Department of Health added.

An official in Massachusetts said that the approved doses are not likely to be distributed until October, at the earliest.

Georgia, Illinois, North Dakota, West Virginia, Wyoming, and Washington state have also not received any Comirnaty doses, officials said.

  1. From an article dated September 14, 2021 from Lynnwood Times:

https://lynnwoodtimes.com/2021/09/14/is-the-pfizer-vaccine-fda-approved/

"On August 23, the FDA did grant its approval for a COVID-19 vaccine, but potentially not a labeled FDA-approved vaccine that is currently available for distribution."

  1. FDA indicates that the two Pfizer products are "legally distinct":

https://www.fda.gov/vaccines-blood-biologics/qa-comirnaty-covid-19-vaccine-mrna

Comirnaty has the same formulation as the FDA-authorized Pfizer-BioNTech COVID-19 vaccine and can be used interchangeably to provide the COVID-19 vaccination series without presenting any safety or effectiveness concerns. The products are legally distinct with certain differences that do not impact safety or effectiveness.

  1. FDA indicates that the BNT162b2 EUA Pfizer vaccine has a different composition than the Comirnaty vaccine - https://web.archive.org/web/20210913042547/https://www.fda.gov/media/151733/download

see page 14: 4. NonclinicalPharmacology/Toxicology

"COMIRNATY and BNT162b2 (V8) have identical amino acid sequences of the encoded antigens but COMIRNATY includes the presence of optimized codons to improve antigen expression."

  1. FDA indicates on its definition page that same formulation does not mean same composition:

https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfcfr/cfrsearch.cfm?fr=314.3

Sec. 314.3 Definitions.

Same drug product formulation is the formulation of the drug product submitted for approval and any formulations that have minor differences in composition or method of manufacture from the formulation submitted for approval, but are similar enough to be relevant to the Agency's determination of bioequivalence.

Bioequivalence is also defined on that page:

Bioequivalence is the absence of a significant difference in the rate and extent to which the active ingredient or active moiety in pharmaceutical equivalents or pharmaceutical alternatives becomes available at the site of drug action when administered at the same molar dose under similar conditions in an appropriately designed study. Where there is an intentional difference in rate (e.g., in certain extended-release dosage forms), certain pharmaceutical equivalents or alternatives may be considered bioequivalent if there is no significant difference in the extent to which the active ingredient or moiety from each product becomes available at the site of drug action.

The definition includes extended-release dosages and alternatives. The terminology appears to be fairly loose. Same formulation means that it may have a different composition and delivery mechanism but it's bioequivalent if the right active ingredient goes to the right places. According to the above definition it could be a completely different alternative drug and still be a 'same formulation'. However, the main concern is that the two vaccines are "legally distinct" and may come with different legal consequences.

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realeagle 5 points ago +5 / -0
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yellowandrose 4 points ago +4 / -0

the china are want to buy american

2
SaltyDoggy 2 points ago +2 / -0

Sorry to hear that. I've been thinking this is going to happen. Only a matter of when. Do you have any additional information you can share? (Area of the country, timing, is this related to vax mandates?)

2
Arden 2 points ago +2 / -0

Why would a housing market crash hurt someone in the mortgage industry? Surely people will still buy and sell houses during a crash?

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556y308 1 point ago +1 / -0

when did they raise rates? and how many basis points?

it blows my mind that they only raise rates a few hundredths of a percent and shit starts going south.

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nachosamplerREBORN 1 point ago +1 / -0

We were likely in a small bubble anyway. People still need and what hours. Rates are going down and perhaps prices will to shortly...there is huge demand.

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panthicc 1 point ago +1 / -0

Been looking on and off at property in Idaho for a year or two now. I knew it was getting bad, but checked the Zillow forecast trend the other day and wow... https://www.zillow.com/eagle-id/home-values/

If you scroll below the map, you can see the trend dating back to 2011. Look at that skyrocket. Home prices are comparable to Los Angeles, and are actually above where LA was just a few months ago.

That said, I don't know if there's going to be a crash. This isn't like 2008. Prices are this way due to massive inflation. Our dollar is simply becoming worth less, quite possibly irreversibly at this point.

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MarcusAurelius 1 point ago +1 / -0

I guess this is one way to try to solve inflation.

Crank up the interest rates. Deflate home prices. Crash the economy. And force people to sell their stuff for pennies on the dollar to make ends meet.

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Leucophylla12 1 point ago +1 / -0

Please let the housing market crash

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defiant_liberty 1 point ago +1 / -0

The federal reserve is lying. They can't raise rates without collapsing the system, and they know it. But they have to pretend, because if they don't, the USA will likely have a currency crises. Then the market will raise rates, and completely crush them and the system.

But for now that doesn't mean that housing and stocks won't crash. They have become addicted to printed up money flowing into the system, as soon as that money stops, things collapse, so then the government runs to the "rescue" and prints up more money, but then as soon as that money stops, things collapse again. We were doomed for this disaster from the moment they bailed out the banks in 2008.

It's like a drug addict. Giving them a fix will stop the convulsions for a little while, but will make the problem worse and worse till they either OD, or go through a drastic and agonizing withdraw.

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swutalk 1 point ago +1 / -0

yeah welcome to the party

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deleted 0 points ago +1 / -1