Nashville Sales Price Just Dropped June 27, 2022 Ben Jones Uncategorized Housing bubbleNashvilleShare ThisTweetSharePlus oneShareEmail Related Posts Homes Without People And People Without Homes A weekend topic starting with Market Watch. "With major data providers reporting that mortgage delinquencies… Unprecedented Levels Of Stress Threaten To Drag Good Credits Down With Bad A report from the Northside Sun in Mississippi. "'People are paying so much more for… A Departure From When Lack Of Inventory Was Blamed For A Slowdown A report from the Pueblo Chieftain in Colorado. "The trend of slower sales in many… This Post Has 36 Comments From the 8:28 video above: Sales Price Just Dropped | Nashville Housing Market June 25 148 views Jun 25, 2022 This video is an analytical approach to the Nashville Tn Housing Market. We are seeing Median Sales Price fall in what appears to be a trend down for the first time this year. Active Listings Under Contract Median Sales Price Forecast June 25 Market Update: Nashville Housing Market Update specifically Davidson/Williamson County ~50% of Nasvhille MSA. ‘Chicago Fed President Charles Evans told reporters Thursday that “we can’t afford to be fooled again on this, or else it’s going to get beyond us.” “We’re all kind of counting on these real factors improving to bring down inflation,” he said. “If we’re counting on monetary policy restraint only, then a Phillips curve which is pretty flat, and inflation expectations — I mean, you would need a much higher increase in the unemployment rate to provide inflation restraint.” “To think that we can fine-tune something like this with tremendous precision, I mean, we just don’t have that ability,” said Evans. “The first thing that we’re looking at is to make sure we take the steam out of the inflation pressures that we’re seeing, that we bring it down to something much more in line with below 3%.” https://finance.yahoo.com/news/powell-path-2-inflation-needs-170000819.html Bank of International Settlement who was the only group 18 months ago to issue warnings. They are saying this again – but no-one is listening. If the REIC is doing badly in the current environment – imagine after the next 6 rises. The world’s central banks must raise interest rates sharply, even if it significantly hurts growth, the institution known as the central banks’ central bank warned on Sunday. If they don’t, the world risks a 1970s-style inflationary spiral, the Bank for International Settlements said in its annual report. Even if they do, the global economy could face a toxic combination of low or negative growth and high inflation, known as stagflation, it said. — Another key challenge: The longer high inflation persists, the more likely it is to remain high. People tend to ignore price increases when inflation is low but start paying more attention when it is high, and changing their behavior in response. Workers who have lost purchasing power seek larger wage rises. Already, more workers in countries such as Spain are linking wage increases to inflation to guard against future price surprises. ‘Underscoring this prescription, the BIS general manager Agustín Carstens said, “The key for central banks is to act quickly and decisively before inflation becomes entrenched.” ‘On top of a pre-emptive strike against wages, the BIS called for cuts in vital government spending, in other words, an austerity drive.’ “For far too long,” it said, “there has been a temptation to turn to fiscal and monetary policy to boost growth, regardless of the underlying causes of weakness” and that loosening during contractions had not given way to “consolidation” [that is, major spending cuts] when the economy was growing.’ “The temptation to postpone adjustments has been too strong. Such a strategy has arguably generated unrealistic expectations and demands for further support,” the report stated.’ ‘The mood was summed up by Berenberg chief economist Holger Schmieding who said the balance had “tipped” in favour of an economic contraction. “What used to be a rising risk has now turned into a base case,” he told the FT.’ “It would have been impossible to imagine at the last G7 summit that we’d be facing a situation like this,” he said. “Things are pretty bad and could get even worse.” ‘An unnamed “senior German official” cited by the newspaper said at the start of the pandemic there was a “simple consensus” on how to respond through “expansive monetary and fiscal policy.” “The situation we’re now in is a lot more complex, a lot more difficult. This completely clear, almost instinctive idea that you just pursue expansionary polices is no longer so obvious,” he said.’ https://www.wsws.org/en/articles/2022/06/27/kbjn-j27.html Wa happened to my pedal to the metal? The corrosive effects of fraud blew a hole clean through the metal. Berkeley, MA Housing Prices Crater 27% YOY As The Toxic Rot Of Appraisal Fraud Blankets Boston Area https://www.movoto.com/berkley-ma/market-trends/ ‘For Marx and his successors in the field of economics, money is a commodity with a determinate supply, which serves to represent the value of other goods and thus behaves as a medium of exchange. Since this is its chief function, it is possible for money to be a purely abstract representation of value: “Being a transient and objective reflex of the prices of commodities, it serves only as a symbol of itself, and is therefore capable of being replaced by a token. One thing is, however, requisite; this token must have an objective social validity of its own, and this the paper symbol acquires by its forced currency. ” ‘Today, we live under just such a monetary regime. Marx’s “token with objective social validity” is our fiat money, and its value and currency are enforced by the state responsible for its issuance. If, for whatever reason, the state chooses to issue more currency and put it into circulation, then inflation occurs and units of that currency lose objective value. Much as it may be uncomfortable to admit, Marx had pretty well the same view of money as a present-day fiscal conservative.’ ‘Government support for those grappling with economic duress is a great thing and deserves to be applauded, but not if these same people have to pay for it indirectly in the price of consumer products. So long as heavy fiscal expenditure is not accompanied by a redistributive tax program, it does little in the long run to change the lives of working people for the better. And if it overshoots what is called for, then it actually harms them. In Keynes’ words: “By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method, they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some.” https://canadiandimension.com/articles/view/why-the-left-needs-to-take-monetarism-seriously ‘Australia’s chief central banker was laughed at by other global bankers in Switzerland when he revealed how he has to wait three months for inflation data. Reserve Bank governor Philip Lowe expressed his dissatisfaction with Australia’s official consumer price index data collection during a conference in Zurich, sponsored by Swiss bank UBS.’ ‘The other thing that’s different – and this is a bad difference – is our CPI is only available quarterly,’ Dr Lowe said. ‘Yes, you laugh as well.’ https://www.msn.com/en-au/news/australia/reserve-bank-of-australia-governor-philip-lowe-laughed-at-during-zurich-inflation-conference/ar-AAYU7b8 ‘The U.S. economy contracted by 1.5% in the first quarter, with headline consumer prices rising by 8.6% in May. Investor concerns over the Federal Reserve’s ability to engineer a so-called “soft landing” — which averts recession while slowing inflation — have been rising, and Fed Chair Jerome Powell acknowledged the difficulty in testimony before Congress this week.’ “The baseline is stagflation — what we are experiencing now,” Mohamed El-Erian, economist and president of Queens’ College at Cambridge University, said in an interview with Yahoo Finance Live (video above). “So you have a baseline that is not very comfortable, stagflation, and then you have a balance of risk which is the wrong way — recession.” ‘He’s not alone in that view. “Stagflation fear” as measured by Bank of America’s monthly fund manager survey registered its highest level since June 2008. Jack-Allen Reynolds, senior Europe economist at Capital Economics, had a simple reaction to the data: “Stagflation has arrived.” https://www.msn.com/en-us/money/markets/recession-may-not-be-here-yet-e2-80-94-but-stagflation-is-el-erian/ar-AAYSUSb “Stagflation has arrived.” Globalists created this problem. CCP Flu was created in a lab, funded with U.S. taxpayer dollars, Fauci knew all of this, and it was released from a lab on purpose to erode the sovereignty of nations and consolidate power in the hands of unelected globalist bureaucrats. And to our German friend, the word “sovereignty” means that what happens in the United States is beyond your control. You’ll be wearing masks from “October to Easter” every year, forever, because Americans are free, and you live in a cuck country. How do you say cuck in German? How do you say cuck in German? A: Schwab How do you say cuck in German? A: Schwab No – as ‘Schwab’ is usually the name for somebody who lives in the Schwäbisch Area of Germany -(with ‘Stuttgart’ the home of Porsche and Mercedes Benz being the center) and die ‘Schwaben’ – (the Schwabs) are famous for their ingenuity and their working ethics – AND for their ‘Sparsamkeit’ -(thrift) and frugality. Holy moley. You are a fun one aren’t you? Looks like we have true blue WEF shill on here. Deplorable….have fun! Looks like we have true blue WEF shill on here. I already came to that conclusion. He has been Joshua Tree’d. @’Globalists created this problem’. The US Housingbubbleburst of 2022 was mainly created by criminal greedy US speculators – and yes – there were some Chinese AND Russians too – and even some Germans who joined the American Housing Casino – unlike in 2008 where the bubble nearly entirely was created by criminal greedy ‘Homelanders’. And now to blame some globalists for one of ‘Americas Favourite Game’ -(playing with Real Estate) is just NOT fair. And it’s not me – I a German who said all of the above – it was a Swiss-American who lives in Zürich and joked even more about ‘the short memory’ of what he called ‘his homelanders’. And about – ‘to our German friend, the word “sovereignty” means that what happens in the United States is beyond your control’- Well? – how in the world do you blame ‘globalism’ if – at the same time you tell a German that what happens in the United States is beyond his control’- I very well could be one of these ‘investors’ who in 2008 bought a few Las Vegas Houses for peanuts and then have helped to pump up the prices to a level where ‘cashing out’ became a… pleasure… And about ‘wearing masks’ – Yes! – Germans were and are wearing mask to such an extent that the German death Rates is till way below the American one… (even if this fact has absolutely nothing to do with housing) There is no freedom of speech in Germany. Here in the United States, we are free to discuss that Germany has a serious problem with rape and sexual assault, and that the perpetrators of those crimes are immigrants from North Africa and the Middle East who are Muslim. It is illegal for you to even discuss that in Germany. ‘It is illegal for you to even discuss that in Germany’. No – as it was and is – discussed in all media – while nearly all of German Media stays away from obvious ‘Hate Speech’. while nearly all of German Media stays away from obvious ‘Hate Speech’. “Obvious hate Speech”? Your definition of “obvious hate speech” is undoubtedly different than mine and I would bet lots of things you call “obvious hate speech”, and the German media think of as obvious hate speech, I would be perfectly fine with, even if directed at me. obvious ‘Hate Speech 🤣 ‘and the German media think of as obvious hate speech, I would be perfectly fine with, even if directed at me’. Why? As nobody I know enjoys it getting insulted by media? As nobody I know enjoys it getting insulted by media? Nobody gets a free ride, and If you react like a wimp or take it personally you get it worse. So best to just ignore it. @ ‘and If you react like a wimp or take it personally you get it worse. So best to just ignore it’. why should you – if somebody insults you via media? You don’t want to be a ‘wimp’ – Right? “And about ‘wearing masks’ – Yes! – Germans were and are wearing mask to such an extent that the German death Rates is till way below the American one… (even if this fact has absolutely nothing to do with housing)” That mask “fact” has absolutely nothing to do with death rates either. @ ‘That mask “fact” has absolutely nothing to do with death rates either’. but you picked a… name – which has absolutely nothing to do with anything either – so your joke will not work. ‘The head of the World Bank thinks it might take years to get prices back under control as the U.S. and other economies face inflation rates not seen in decades. “It’s going to take months and months, and maybe two years to bring inflation back down,” said David Malpass on CBS’s Face the Nation Sunday.’ ‘Record inflation and shortages of key commodities like oil, fertilizer, and wheat, mean “it’s going to be very hard” for some countries to avoid recession, Malpass said.’ “A lot of the world is shutting down for lack of fertilizer. And then those shortages of crops will last for multiple years,” said Malpass, warning that food shortages might lead to “instability” in poorer countries.’ ‘The World Bank is concerned that interest rate hikes in advanced economies could drag down the world economy. “The recovery from the stagflation of the 1970s required steep increases in interest rates by major advanced-economy central banks to quell inflation, which triggered a global recession,” wrote the World Bank in its June report on global economic prospects.’ ‘Malpass suggested that U.S. Federal Reserve Chair Jerome Powell focus less on interest rate hikes and start using the central bank’s regulatory tools to tame inflation. “Let the banks lend more,” said Malpass. “It could put more money into the supply chain”, alleviating the supply constraints that are driving current inflation.’ https://finance.yahoo.com/news/world-bank-chief-says-inflation-042813290.html ‘European Central Bank policy makers gather on a Portuguese hillside on Monday with the sinking feeling that their rush to tackle the inflation shock they failed to forecast risks both a recession and echoes of the euro area’s sovereign debt crisis.’ ‘As President Christine Lagarde and colleagues meet in the resort of Sintra for their version of the Federal Reserve’s Jackson Hole conference, they face competing tasks: Cool the fastest consumer-price growth in the euro’s history without delivering an economic downturn or sparking a 2012-style spike in borrowing costs in Italy, the region’s third-largest economy, and other vulnerable states.’ ‘Markets are already sounding an alert on what may lie ahead. Italian government bond yields jumped past 4% this month for the first time since 2014 as investors took fright at the ECB’s plan to raise interest rates in July for the first time in a decade.’ ‘With that hike locked in, and another set to follow in September, officials are racing to deliver on their promise of a tool to deploy if yields do surge.’ “The ECB is in great difficulty,” said Charles Goodhart, a former Bank of England policy maker. “They can’t normalize very rapidly — loading increases in interest rates up front — without dealing with the fragmentation issue.” ‘Inflation now sits four times above the ECB’s 2% target and Lagarde offered a sense of the recent soul-searching last week, telling European lawmakers that officials “misjudged certain factors that had a major impact on inflation.” https://finance.yahoo.com/news/ecb-pivot-toward-rate-hikes-040000036.html How did you lose yer shack mate? It was a fragmentation issue. ‘Earlier this year, Do Kwon was a billionaire – but after a brutal recent crypto crash, his vast fortune has almost completely vanished. The 30-year-old South Korean co-founder of Terraform Labs watched as his crypto empire crumbled last month in a shocking $40 billion crash.’ ‘Now, in a new interview with The Wall Street Journal, he revealed he lost almost all of his personal net worth in the wipe-out. “I’ve been devastated by recent events and hope that all the families who’ve been impacted are taking care of themselves and those that they love,” he said.’ ‘One such critic is business writer Michael Hiltzik, who argued that cryptocurrencies “must be eradicated” in a recent opinion piece for Al Jazeera. “What we call the ‘crypto party’ should never have started. Because in this party, there’s nothing being sold or promoted that is fundamentally worth anything,” he wrote.’ “Small, not so knowledgeable, investors have been lured in. And they are the ones being taken to the woodshed in this meltdown. They bought at very high prices, and they are now dealing with very low prices. Some of them have lost their life savings.” https://www.news.com.au/finance/money/wealth/devastated-terraform-labs-cofounder-and-billionaire-do-kwon-loses-fortune-in-crash/news-story/3a75df4146ea0a7cc236559e796ff28b “Because in this party, there’s nothing being sold or promoted that is fundamentally worth anything” Jeez, that guy is going to get suicided. Start talking like that about banning things because they are worth nothing and gosh, the whole house of cards would collapse from crypto to stocks to bonds to RE. can’t have that. ‘Southern California agent Kama Burton has been working in Riverside County for 17 years, and she’s noticed lots of unfamiliar faces on yard signs.’ “They’re pretty fresh, maybe out of high school. I’ve even heard of people coming from the restaurant industry.” ‘She said 2021 was pretty competitive, but higher interest rates and a cooling market will make this year extra Darwinian. “I do believe people are going to get weeded out because it’s not as easy as it looks,” she said.’ https://www.marketplace.org/2022/06/21/as-the-real-estate-market-cools-so-does-the-market-for-agents/ Garland, TX Housing Prices Crater 13% YOY As Soaring Mortgage Defaults Clobber North Dallas Housing Market https://www.movoto.com/tx/75043/market-trends/ As one national broker explained, “Remember folks… current asking prices of resale housing is 350% higher than long term trend and double construction costs. Now prices are falling.” The UK Guardian publishes a smear on Congresswoman Lauren Boebert from Colorado, because the Guardian is globalist scum media. What? Yeah, globalist scum media. “Boebert’s extreme rightwing stances range from absolute opposition to gun control to questioning the effectiveness of vaccines and the outcome of the 2020 presidential elections.” And she is correct on all three of these. “Dressed in jeans, a black ballcap and several-inch high heels, she guided her supporters through a litany of inflammatory talking points including immigration, critical race theory, gender transitions and Joe Biden’s mental capacity.” And she is also correct on all four of these. https://www.theguardian.com/us-news/2022/jun/27/lauren-boebert-extreme-rightwing-colorado-reelect-primary Globalist scum media. The Hill reluctantly covers the ongoing Insurrection that started on Friday. Tensions flare at abortion protests with arrests, clashes (6/26/2022): “Oregon authorities said they arrested ten protesters who were a part of a large crowd in what has been called a “night of rage” on Friday night. “An officer used a public address system to admonish the group of more than 75 people that they were committing disorderly conduct and were subject to arrest,” the department said in a news release. “This had no effect on the crowd and they advanced closer to officers. Unknown people in the crowd threw smoke bombs at officers along with several filled water bottles.” That is an Insurrection. “Arizona state troopers launched tear gas canisters at thousands of protesters gathers outside the state capitol building on Friday night. Republican Senate President Karen Fann described the protest as an attempted insurrection, while protest leaders call it an overreaction against a crowd made up mostly of people opposed to the Supreme Court’s decision.” That is an Insurrection. I posted the footage from Andy Ngo on the last thread. It’s an Insurrection. “Republican Sen. Michelle Ugenti-Rita took videos of the scene and told the Associated Press the protesters were trying to break the windows into the Capitol building. “There was no other conclusion than they were interested in being violent,” she said. “I have no other takeaway than that. https://thehill.com/homenews/state-watch/3537830-tensions-erupt-at-abortion-protests-with-arrests-clashes/ There was also a firebombing of a pregnancy crisis center in Longmont, CO on Friday night, that Real Journalists conveniently omitted from this article. This is the Insurrection that globalist scum media refuse to report on, because they are globalist scum. ‘This is the Insurrection that globalist scum media refuse to report on, because they are globalist scum’. but ALL of the crazy, insane and brutal news from the United States got reported WORLDWIDE in the last years – and as you mentioned yourself if not only Germany wasn’t laughing – the Whole World was shocked about nearly everything going on in America – and it seams to be really difficult for everybody outside of ‘the homeland’ to understand how America got to such hateful rift right through the country? Why is it so hard to for anyone to understand this “hateful rift” in America? We’ve been taken over by neo-marxists who present themselves as democrats. It’s not hard for anyone to see if you take the time, even in Germany. @ ‘We’ve been taken over by neo-marxists who present themselves as democrats. It’s not hard for anyone to see if you take the time, even in Germany’. says Hans… Who? And you are trying to make fun of me – Right? FEE FI FO FUM! I HEAR THE CLUCKING OF HELPLESS HOUSING HENS! Bayville, NY Housing Prices Crater 13% YOY As Indebted Long Island Borrowers Simply Walk Away https://www.movoto.com/bayville-ny/market-trends/ Comments are closed.