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The Supporting Vertebrae In The Housing Market Backbone

A report from Mother Jones on California. “By the time Dominique Walker started squatting in an Oakland home with her five-year-old daughter and one-year-old son, she’d exhausted all other options. Walker, who had fled domestic violence in Mississippi, knew it would be hard to find a place, amidst the housing crisis, in the city where she’d grown up.”

“Walker started looking into the causes of homelessness in her community. And that’s when she began to notice the ‘for rent’ signs, vacant lots, and new, unoccupied high rises everywhere. Then she came across an empty house on a quiet block on Magnolia street in West Oakland (the ‘only eyesore on the block,’ she says).”

“She did some research and found out it was owned by Wedgewood Property Management, which labels itself as a ‘leading acquirer of distressed residential real estate.’ The house had sat empty for about two years. In November, Walker, another mother, and their kids moved into the vacant home.”

“Traditionally, we think of vacant houses as an issue in weak housing markets and struggling economies suffering the lingering effects of the foreclosure crisis. But places with hot real estate markets have been wrestling with the problem, too. Public outcry over vacancies in cities desperate for more housing has spurred policy makers to try and tackle the issue.”

The Auburn Examiner in Washington. “The conventional conforming loan limit is going from $484,350 to $510,400, and the conforming high balance limit is going from $726,525 to $741,750. For King, Pierce, and Snohomish Counties, the conforming loan limit is rising 2.09%.  For all other counties in the state, the loan limit is rising 5.38%. The reason Fannie, Freddie, and Ginnie do this is to keep conforming loan limits relatively in line with housing market appreciation. This keeps buyer mortgage-eligibility in line with the local housing market’s median house price.”

“Technically, any loan above $510,400 is considered a jumbo loan. But because houses are so dang expensive in the Tri-County area, we get the opportunity to finance a home through Fannie, Freddie, and Ginnie all the way up to $741,750. This means most people whose loan amounts are below that ceiling will be able to take advantage of Fannie, Freddie, and Ginnie mortgage underwriting guidelines. This is important because those guidelines are much easier to meet than jumbo loan guidelines. This opens the door of homeownership possibility to more people.”

“In 2015 the conventional conforming loan limit was $417,000, and the conforming high balance loan limit was $517,500 for King/Pierce/Snohomish. In the last four years, the conventional conforming loan limit has risen 22.39% (+$93,400), and the high balance loan limit has risen 43.33% (+$224,250). These loan limit increases have supported the buyer pool, and its mortgage eligibility and purchasing power. This has helped support the Puget Sound Housing market.”

“Without these increases, the buyer pool would have been much dryer at the higher purchasing prices, and our housing market would not have appreciated like it has since 2015. Median home price in King County per the NWMLS in January 2015 was $390,000 – this is a combined number including Single-Family Residents and Condos. Today, that same metric has a median home price of $605,000 in King County.  That’s a 55.13% appreciation growth rate over that timespan.”

“This isn’t necessarily front-page news, but this move is literally one of the top 3 supporting vertebrae in the Puget Sound Housing Market’s backbone.  The other two most important vertebrae being the local job market and mortgage interest rates. These moves by the FHFA are invaluable to supporting our local housing market and clear the way for home prices to inch higher in 2020.”

From CNN. “You’ve probably seen home prices shoot up in your neighborhood over the past few years, but not as much as in Fort Lauderdale. In 2010, the average home there sold for $106,000. Now, it will set you back 161% more or a whopping $278,000. Meanwhile, in Las Vegas, housing prices rose about 14% each year. But at the same time, salaries crashed at an annual rate of 0.4%.”

“As for the largest gain in pure dollars, you guessed it, that prize goes to San Francisco. You could grab a home there for just under $700,000 in 2010. Today, it would cost $1.4 million!”

From Realtor.com. “The past year has been filled with plenty of highs and lows, no matter your perspective. And housing was no different, closing out 2019 with a mixed scorecard. ‘The big takeaway is, it was a somewhat disappointing year for housing,’ says Javier Vivas, director of economic research at realtor.com. ‘The low mortgage rates should have propelled home sales much higher than we saw. [But] prices just got to levels that were just too high for buyers.'”

“So what are buyers to do? Well, they may want to head to one of the most affordable housing markets in the nation. The financially savvy probably want to get into places where their home’s value is sure to grow fast. Maybe they’re still figuring out whether it’s better to rent or buy. Or they may want to join their peers and buy in a millennial mecca, Gen X hot spot, or boomer boomtown.”

“Not surprisingly, these are far from the biggest, most expensive coastal cities. Many of these places are former manufacturing hubs that have struggled economically and with higher unemployment. And they tend to be in the Rust Belt and Midwest, where prices are the lowest. Buyers in these markets will want to act fast—before they’re priced out. The metros with the highest appreciation are still relatively affordable (although not for long!) and are often alternatives to more expensive, biggest cities.”

From DS News. “According to Fitch Ratings, the 2017 Tax Cuts and Jobs Act (the Act), which limits state and local tax (SALT) deductions and reduces the amount of housing debt eligible for interest deduction, may have exacerbated slowing home price growth in certain areas. Fitch’s rating analysis for residential mortgage backed securities takes into account these declines in both its base case and stress scenarios.”

“Rising mortgage rates at YE 2018 and a larger inventory of high-priced homes are contributing factors to slowing home price growth; however, these two factors alone cannot fully explain the slowing price growth and price declines observed in the areas where SALT deduction amounts and usage was highest prior to the tax code change.”

“‘Since early 2018, states with higher property taxes have seen acute home price appreciation slowdown and even price declines in several metropolitan areas,’ sayd Fitch. ‘Congressional district level data shows that districts where the real estate SALT deduction was more often pursued and the deduction amount averaged higher in the tax year of 2017, prior to the change in SALT deductibility, have seen more noticeable slowing in home price growth over the past year.'”

“Fitch notes that the rising mortgage rates toward YE 2018 and the larger inventory of high-priced homes are significant factors in slowing home price growth. The available supply of higher-priced homes rose due to both an increase in construction of luxury homes and slower sales. Lower interest rates this year may provide for a bump in sales but it is not clear if this will offset some of the recent declines in home prices.”

From WIBV in New York. “New York municipalities were handed a new tool, this week, to try to put the brakes on ‘zombie’ properties. A new state law, banks are required to take control of properties they have foreclosed, or give up their financial stake in the property altogether.”

“Housing officials generally blame certain bank foreclosure practices for creating zombie homes. The bank, or loan servicer, forecloses on a property, the homeowners move out, but the bank often fails to follow through on the foreclosure, and the property is abandoned. Gov. Andrew Cuomo signed the Zombie Property Remediation Act of 2019, which Jordan Zeranti, an attorney for the Western New York Law Center, said empowers cities, towns, villages, and counties to force a bank to either complete a foreclosure on an abandoned property, or dismiss the mortgage.”

“But the municipalities bear the burden of determining when the property is abandoned, and Erie County Clerk Michael Kearns has assembled a task force, the Zombies Initiative, to help local officials locate those vacant properties and write them up. Banks that fail to comply with the state’s zombie laws can be fined up to $500 a day. In any case, Kearns urges homeowners who are faced with foreclosure to stay in their home, because–as he points out–the banks often fail to follow through.”

From CNBC. “The banking industry underwent evolutionary change in the 2010s following the financial crisis and the Great Recession. Sanford Weill, the father of the financial supermarket, shocked Wall Street in 2012 when he called for the breakup of the sprawling institutions that were made possible by his vision. Weill, as CEO of Citigroup in the late 1990s, used the bank as the vehicle to shatter the rules of banking.”

“Weill walked back those remarks a year later, but the debate still rages over how to make sure that banks, or any companies for that matter, are never again so important to the American economy that the government would have no choice but to save them.”

Weill told CNBC, in a July 2012 interview, ‘What we should probably do is go and split up investment banking from banking; have banks be deposit takers, have banks make commercial loans and real estate loans, have banks do something that’s not going to risk the taxpayer dollars, that’s not too big to fail.'”

“‘If they want to hedge what they’re doing with their investments, let them do it in a way that’s going to be mark-to-market so they’re never going to be hit,’ Weill added at the time. ‘I think the earlier model was right for that time. I think the world changed with the collapse of the real estate market and the housing bubble and what they did in leverage in certain institutions. So I don’t think it’s right anymore.'”

This Post Has 65 Comments
  1. “ Weill told CNBC, in a July 2012 interview, ‘What we should probably do is go and split up investment banking from banking; have banks be deposit takers, have banks make commercial loans and real estate loans, have banks do something that’s not going to risk the taxpayer dollars, that’s not too big to fail.’”

    What Was the Glass-Steagall Act?
    By Reem Heakal
    Updated Feb 13, 2019

    In 1933, in the wake of the 1929 stock market crash and during a nationwide commercial bank failure and the Great Depression, two members of Congress put their names on what is known today as the Glass-Steagall Act (GSA). This act separated investment and commercial banking activities. At the time, “improper banking activity,” or what was considered overzealous commercial bank involvement in stock market investment, was deemed the main culprit of the financial crash. According to that reasoning, commercial banks took on too much risk with depositors’ money. Additional, and sometimes non-related, explanations for the Great Depression evolved over the years, and many questioned whether the GSA hindered the establishment of financial services firms that can equally compete against each other. We will take a look at why the GSA was established and what led to its final repeal in 1999.

    1. – All anyone needs to know:
      Dodd Frank Act: 22,000 Pages
      Glass Steagall Act: 00037 Pages

      – Government by obfuscation.

      “But we have to pass the bill so you can find out what is in it,…” – Nancy Pelosi

      Weill walked back those remarks a year later, but the debate still rages over how to make sure that banks, or any companies for that matter, are never again so important to the American economy that the government would have no choice but to save them.

      “’Nobody goes to jail.’ This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world’s wealth – and nobody went to jail.” – Matt Taibbi

      “We’re essentially continuing a system where profits are privatized and…losses socialized,” – Nouriel Roubini

      “A criminal is a person with predatory instincts who has not sufficient capital to form a corporation. Most government is by the rich for the rich. Government comprises a large part of the organized injustice in any society, ancient or modern. Civil government, insofar as it is instituted for the security of property, is in reality instituted for the defence of the rich against the poor, and for the defence of those who have property against those who have none.” – Adam Smith

      “I abandoned free market principles to save the free market system.” – George W. Bush, on CNN, December 16, 2008

      ‘It became necessary to destroy the town to save it” as reported by Peter Arnett, Tet Offensive, 1968

      “WAR IS PEACE
      FREEDOM IS SLAVERY
      IGNORANCE IS STRENGTH.”
      – George Orwell, 1984 – Ingsoc party slogan, Part 1, Chapter 1.

    1. WNYC News
      The Other Subprime Debt Problem
      This used car lot in Detroit was the birthplace of Credit Acceptance, a giant used-car lender founded by Don Foss that targets borrowers with bad credit.
      Dec 12, 2019 · by Anjali Kamat

      …At the end of last year, despite stable employment numbers, a record 7 million Americans had fallen more than three months behind on their car loan payments, according to the Federal Reserve Bank of New York.

      At nearly $1.3 trillion, auto debt is the third largest form of household debt, after mortgages ($9.4 trillion) and student debt ($1.5 trillion). The amount of auto debt has increased by nearly 75 percent since the financial crisis, and a growing proportion it comes from lending to borrowers the industry calls subprime, because of their low credit scores. Many are low-income workers who don’t have access to other sources of financing.

      1. “…a record 7 million Americans had fallen more than three months behind on their car loan payments…”

        Other recent records of note:

        – Lowest interest rates in the course of financial history
        – Longest economic expansion since WWII
        – Unemployment rate approaching historic lows
        – Wall Street stock market indexes hitting new highs on a weekly or daily basis

        Things could get downright ugly in the subprime automotive lending sector if the “everything is awesome” economic picture ever ends.

        1. Estimates of GDP growth this quarter just were raised to 2.3 percent by Atlanta Fed. If the new CEO at Boeing gets the 737 max back in the air, the economy will takeoff. MAGA. BTW, Mayor Pete wants to make it easier for Chinese and Indians to come to this country. Well Americans can decide next Fall, globalists or nationalists.

          1. And there’s the communists:

            ‘Moms 4 Housing considers Wedgewood a “displacement machine”—buying up properties in areas on the cusp of gentrification and sitting on them until their values surge. The moms want Wedgewood to turn the house over to them under the principal that housing is a human right, and argue that other investor-owned properties should be given back to communities who have been displaced by soaring rents.’

          2. given back to communities

            Was the house Public Housing to begin with? I hear you actually can live on public land out west.

          3. Americans can decide next Fall ??

            That assumes he makes it to November…One or two more shoe’s drop and its over…

          4. scotus rules on Trumps tax returns in June…Thats likely one gigantic shoe…And, who the hell knows what shows up between now and then…

          5. what shows up

            Hope as some may, the probability is nothing of any substance, because this has been the story of more than three years of energetic stone turning over. The people I speak to every day are so galvanized that it is hard to imagine any mysterious crimes lurking in the closet could bring an overwhelming majority into agreement.

          6. Hope as some may ??

            Relying on Hope…This guy is a ugly as it gets in ethical, moral & business conduct…

            probability is nothing of any substance ??

            Sure…You can always rely on “Hope” there is no substance…

            the story of more than three years of energetic stone turning over ??

            6 inner circle people indicted..

            The people I speak to every day are so galvanized ??

            Galvanized with hate & racism ?? Because that’s what he pimps…Make sure you take your grandchildren to the next rally so they can learn how to MAGA and take that with them back to K-12…

            mysterious crimes ??

            LOL…He’s a crime boss…Other people pay the penalty for his malfeasance…

            Only 107000 votes in three states decided the election. … Of the more than 120 million votes cast in the 2016 election,

          7. The people I speak to every day are so galvanized ??

            That’s my observation, and I’m from NY so most of these people are Democrats. We aren’t hating each other at all. Mostly we hope for a better future, peace, friendship and love.

            Merry Christmas all.

          8. We aren’t hating each other at all.

            Wish I could say the same here. A 14yo assaulted three Trump supporters at that intersection I’ve mentioned previously. When someone on Nextdoor asked what happened, a neighbor asked “Who isn’t an anti-Trumper?” Things continue to devolve from there.

          9. The moms want Wedgewood to turn the house over to them under the principal that housing is a human right, and argue that other investor-owned properties should be given back to communities who have been displaced by soaring rents.’

            This most pose a dilemma for the Left. On one hand, they’re all about redistribution of the wealth and enabling parasitism. On the other, they are bankrolled by the same globalist oligarchs that own the vulture capitalist firms that are buying up all that distressed housing with their free Yellen Bux. The Left can’t afford to bite the hand that feeds them, so they probably won’t mobilize support for Gimme Dats like Moms 4 Housing.

          10. Mayor Pete must be channeling Sen. Mike Lee, R-Hyderabad. These scumbags are headed for short political careers if they continue to represent multinational corporations instead of their constituents.

          11. RR said: Wish I could say the same here.
            I had breakfast with a new acquaintance. We talked for hours, found we had a lot in common and agreed we’d meet again. In the parking lot it came up that I am a Trump supporter. The look on her face. Haven’t heard from her since, been about a month, sort of agreed to do it again within two weeks. Too bad, it might have been interesting to hear her POV.

          12. her POV

            If it’s anything like what’s still being posted on Nextdoor, it’s logically inconsistent and vitriolic regurgitation of MSM opinions offered as facts.

          13. RR
            Never knowing when to quit, I also mentioned that I hoped Creepy Joe would get what’s coming to him. The response was “I like Joe Biden.” How is that possible?

            I make friends everywhere I go 😁

          1. “It is low interest rates that keeps the economy going.”

            IMHO it’s easy access to credit accompanied by government backed guarantees that are keeping our debt laden economy from grinding to a halt. Low interest rates leave little room for defaults.

          2. Low interest rates leave

            I think they bake defaults into the cake. Easy credit encourages malinvestment. It defaults.

  2. First NYS makes it take two years or more to conduct a foreclosure.

    Then it wonders why so many zombie houses.

    And passes more laws…

    Make banks eat their bad loans and be able to evict in a timely manner. No more zombie houses.

    “From WIBV in New York. “New York municipalities were handed a new tool, this week, to try to put the brakes on ‘zombie’ properties. A new state law, banks are required to take control of properties they have foreclosed, or give up their financial stake in the property altogether.”

    1. How is America ever going to be great again if pricing is based on price sitting monopolies and speculation creating fake prices. This is a total detachment from average wages while also using debt to pull it off with faulty lending.

      Americans had good jobs and reasonable life styles. They were not overly greedy lifestyles on average. People were happy for most part verses this more dog eat dog with less upward mobility and fake pricing.

      This strong middle class with pricing tracking with wages was the closest to free market capitalism, I don’t know what we have now.

    2. Make banks eat their bad loans and be able to evict in a timely manner. No more zombie houses.

      Most municipal governments are in the pockets of the banksters and REIC, so they aren’t about to pass any legislation that would force the banks to deal with zombie houses.

  3. Between 1950 and 1951 the average long term rate was 4.08%. We are below that now. What does this mean .

    1. The average price of a home was 7,400.00 in 1950 and average wage was about 3,000.00 a year.

      Twenty years later everything doubled in 1970 but the wage to cost of shelter remained the same.
      So the cost of average shelter only rose the same as income almost exactly.

      When you look at how home were only just over 2 times incomes per year, no wonder the American Dream was obtainable.

      I’m sure faulty lending wasn’t part of the equation.

      Home prices tracked with wages exactly between 1950 and 1970. How stable can you get.

      1. Not only were they only two times earnings, real wages were rising quickly so the payments became much easier to pay quickly.

    2. In 1958 the average costs of health insurance was one hundred and thirty four dollars a year. Now the medical industry by any means wants to get a about twelve thousand per head per year.

      1. Medical costs are the #1 reason for personal bankruptcies. The “health care” industry and Big Pharma rival the Fed when it comes to racketeering against We the People.

      2. What you are describing is America’s descent into the 3rd world. The parasitic sectors of the economy (FIRE and medical care) had not yet been completely freed to suck our financial blood like the leeches they are. Bankers and doctors were middle class, not millionaires.

          1. The reasons they give for the increase in medical costs don’t even make sense.

            Other Countries do health care at about 50% cheaper and their lifespans are starting to exceed the USA.

            Based on normal theory if you have a bigger insurance pool the price goes down.

            Another site was saying that the cost of Boomers was driving up the price. Since Seniors are on Medicare this seems like a bogus excuse

            Medical is nothing but a price fixing monopoly. If government takes it over it will pay the fake prices and everyone will get less

      3. While health care costs have indeed sailed into the stratosphere, what medical science could do in 1950 cannot be compared to what it can do now.

        1. With advancing technology medical care should get cheaper. There are other reasons for exploding costs. Americans have some of the worst health among industrialized countries yet pay the most.

          1. Go back to free market capitalism with health care and the prices would drop like a rock.

            There was no reason to bring on Obamacare and it was just a way to insure the price fixing monopoly. Basically Obamacare was charging people based on income rather than health risk. The medical Cartel doesn’t care how it’s done, they just want about 4 trillion a year by any method.

  4. Not everyone believes the current low-rate environment is here to stay.

    Short bets against long-term Treasury bonds hit record as economic pessimism wanes
    Published: Dec 23, 2019 3:06 p.m. ET
    The rapid shift in sentiment is reflected growing bets against longer-term U.S. government debt
    Getty Images
    By Sunny Oh

    Speculators have amassed a record level of short wagers in futures for U.S. long-term government bonds, which have profited from a significant run-up this year.

    The growing willingness of bond bears to place bets on a reversal of this year’s bond rally represents an about-turn from August when investors feared an impending recession as the economy succumbed to trade-driven headwinds.

    Those concerns now have abated and a growing camp of investors see potential green shoots coming up in the global economy thanks to a preliminary U.S.-China trade agreement. To be sure, few anticipate a cyclical recovery as high debt levels and a tight labor market prevent an acceleration of growth.

    “Shorts in the longest maturity [Treasurys] have soared since the trade war headlines improved,” said Jim Vogel, an interest-rate strategist at FHN Financial.

    Non-commercial players, or those who don’t use interest-rate futures for hedging purposes, have placed a record net bullish position of 384,666 future contracts for bonds with maturities of 25 years or more in the week ending in Dec. 10.

  5. Dallas, TX Housing Prices Crater 20% YOY As Housing Correction Emerges In Every Major US City

    https://www.zillow.com/dallas-tx-75240/home-values/

    *Select price from dropdown menu on first chart

    As one noted economist stated, “Nothing accelerates the economy and creates jobs like falling prices to dramatically lower and more affordable levels. Nothing.”

  6. The Auburn Examiner in Washington. “The conventional conforming loan limit is going from $484,350 to $510,400, and the conforming high balance limit is going from $726,525 to $741,750. For King, Pierce, and Snohomish Counties, the conforming loan limit is rising 2.09%. For all other counties in the state, the loan limit is rising 5.38%. The reason Fannie, Freddie, and Ginnie do this is to keep conforming loan limits relatively in line with housing market appreciation. This keeps buyer mortgage-eligibility in line with the local housing market’s median house price.”

    “This means most people whose loan amounts are below that ceiling will be able to take advantage of Fannie, Freddie, and Ginnie mortgage underwriting guidelines.”

    – Just like as for student loans. Rachet up loan limits = rachet up house (or tuition) prices. Somehow, the author failed to mention this important relationship.

    1. “This isn’t necessarily front-page news, but this move is literally one of the top 3 supporting vertebrae in the Puget Sound Housing Market’s backbone. The other two most important vertebrae being the local job market and mortgage interest rates. These moves by the FHFA are invaluable to supporting our local housing market and clear the way for home prices to inch higher in 2020.

      – Interest rates have been manipulated lower.
      – Real wages have been stagnant. Slightly up in the past year or so, but nowhere near the rate of house price appreciation. Hence the other interventions.
      – Must include relaxed credit standards/FICO/Subprime/DTI/low down/no down in the “three-legged stool” of housing.
      – Must keep prices elevated because reasons.

  7. How a marijuana network tied to China became a player on the Colorado black market:

    “Marijuana grow houses are nothing new in Colorado. What made the Larimer County bust unique were the suspects behind the operation. While Mexican cartels hold the most well-known stake in the American drug market, a relatively new player in black market marijuana in Colorado is a loosely affiliated, extremely insulated network of traffickers with ties to China.

    The Chinese groups have gained a footing across the state – from the Western Slope to the Larimer County suburbs to the Denver metro. Their rise in recent years has rivaled Cuban traffickers from South Florida, who have long specialized in marijuana grow houses, said Wendi Roewer, the field intelligence manager for the Drug Enforcement Agency’s Denver office.

    Roewer estimated that the Chinese groups have established thousands of marijuana grow houses in Colorado.

    The structure of the organizations remains fuzzy, but investigators know the groups in Colorado are tied to cell leaders in Northern California and New York, Roewer said. Most of the higher-level leaders are based in the United States, according to Roewer, though they’ve found a flow of money between the groups in the U.S. and China.”

    https://www.thedenverchannel.com/news/local-news/how-a-marijuana-network-tied-to-china-became-a-player-on-the-colorado-black-market

    1. The Chinese have created a parallel cash-only economy in places like Colorado Springs, where over the past few years there’s also been a visible increase in the Chinese population.

  8. Does anyone know of any “GenX hotspots?” The only GenX hotspots I ever saw were college campuses in the 1990s, duh. Since then we’ve been diluted out of memory and time. I’m surprised GenX even got a mention.

    1. At least Gen X got an X. It’s parents, between the “Greatest Generation” and 1960s generation, was EVENTUALLY called the “Silent Generation.”

      1. “The Silent Generation refers to people who were born between 1925 and 1945.”

        Those were tough times, a lousy economy and the call to war.

    2. So true. It’s usually “the battle between Boomers and Millennials.” We get skipped right over. Of course, we are called “the Silent Generation” in Fourth Turnings for a reason.

    3. I don’t believe in giving names to people based on the year in which they were born. Seems like it’s promoted by the usual suspects in the media.

  9. “Walker started looking into the causes of homelessness in her community. And that’s when she began to notice the ‘for rent’ signs, vacant lots, and new, unoccupied high rises everywhere.

    Yet if you asked Walker to describer the Fed’s central role in making housing so unaffordable with its monetary policies that enabled and encouraged rampant speculation in the housing market, this lady wouldn’t have a clue.

  10. Calabasas, CA Housing Prices Crater 12% YOY As Record High Housing Inventory And Rampant Mortgage Fraud Accelerates Across Southern California

    https://www.zillow.com/calabasas-ca/home-values/

    *Select price from dropdown menu on first chart

    As a noted economist stated, “Why buy a house when you can rent one for half the monthly cost. Buy it later after prices crater for 70% less.

  11. Denver, CO Housing Prices Crater 19% YOY As US Housing Demand Plummets To 21 Year Low

    https://www.zillow.com/denver-co-80218/home-values/

    *Select price from dropdown menu on first chart

    Nothing accelerates the economy and creates jobs like falling prices to dramatically lower and more affordable levels. Nothing. — Senior Housing Analyst And Economist

  12. This kind of dare I say old school advice might cut down on student loan debt.

    Nebraska man turns passion for cars into growing business

    BY MIKE KONZ KEARNEY HUB
    DECEMBER 21, 2019 12:49 PM

    Asked his advice for kids who have a hard time in school, Adams said, “We’re all not going to be doctors or lawyers. There’s nothing wrong with having a trade.”

    “I don’t think you can be successful until you find your niche, your passion,” he said. “Find your niche and then work hard. It’s the key to success.”

    https://www.kentucky.com/news/business/article238460723.html

  13. If government thinks it’s so powerful, and they have the right to take over health care, than why doesn’t government have the right to drop the price by 50% and price fix to the downside.
    It’s a new form of con job for Government to prop up fake prices. Anything government touches becomes overpriced. It’s disgusting how Government has screwed the marketplace. The people must take back the Government.

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