A report from Business Insider. "Overall mortgage delinquencies rose a seasonally adjusted 8.22% in the…
This Post Has 14 Comments
From the first 13:23 video:
Vancouver Real Estate Prices just DROPPED $500,000…. [ WITH PROOF]
John Pinton- Vancouver Realtor
Premiered Aug 10, 2022 Vancouver Real Estate prices have fallen dramatically since early March…prices that once were 1.8m are now as low as $1,300,000 in some areas of Vancouver. With further interest rate hikes planned this fall…its possible these homes could go even lower. However, with recession on the horizon and many companies laying off employees recently..and also with inflation numbers leveling off…the bank of canada could surprise us and stop rate hikes sept.7th which would send many buyers back into the housing market very quickly!
The second 12 minute video:
CANADA
The Mortgage Trigger Point Is Coming! – Finance Fridays
Team Sessa Real Estate
Aug 12, 2022
The Vancouver area has lots of expat Chinese who paid top dollar to buy a slice of freedom.
Since at least the mid-90s, it’s been known as Hongcouver. My mother lived there briefly. Seasonal affective disorder is real.
‘Add Impac Mortgage Holdings to the list of mortgage lenders that posted a loss in the second quarter of 2022, despite an effort to reduce expenses. In the most challenging mortgage market in well over a decade, executives at Impac have opted to pull back on non-QM products, which represent most of the company’s originations.’
You will freeze hungry in the dark…to stick it to Putin!
And…
This epic bear market rally trap has about two more weeks to play out
‘As price growth slowed and inventory increased slightly, Northern Virginia housing sales dropped 28.8% in July compared with last year, according to a Northern Virginia Association of Realtors report published Friday.’
“More options are available to homebuyers now that the market is calming. It remains a seller’s market, but the feeding frenzy has subsided somewhat,” NVAR President-Elect Heather Embrey, a Realtor with Better Homes and Gardens Real Estate Premier, said in a statement. “Well-maintained, updated properties that are priced correctly are still in very high demand.”
‘The median price for a home sold in Northern Virginia last month was $650,000, up 1.6% from July 2021, but lower than June’s median of $684,500.’
‘The median price for a home sold in Northern Virginia last month was $650,000, up 1.6% from July 2021,
Will next month be negative Year-over-year?
Column: Shame, suicide attempts, ‘financial death’ — the devastating toll of a crypto firm’s failure
‘I am one of the little guys…. It was my nest egg. Now when I go to work, I drink water and eat any scraps I can find for lunch…. I am in deep depression and do not know if I can pull myself out of this. — Brandon Lawrence, Celsius customer.’
‘A Rancho Cucamonga man told the judge that the possible loss of his family’s nest egg has driven him to drink and to the point that his wife of 17 years “asked me to leave our home due to my emotional turmoil and unpredictability…. I don’t know how to express the guilt, the frustration, the shame, the self-doubt, and absolute anger that I am feeling regarding the burden I have caused and placed on my family.”
‘Andrew wrote, “I wish I had the financial freedom that was suggested in this statement right now — instead, like tens of thousands of users, we are unable to access our funds that we believed to be ours to withdraw or transfer anytime. This is the exact opposite of financial freedom — more like financial jail, or worse for many … financial death.”
“Faced with a liquidity crisis, Celsius began to offer double-digit interest rates in order to lure new depositors, whose funds were used to repay earlier depositors and creditors,” Stone’s lawsuit states. “Thus, while Celsius continued to market itself as a transparent and well-capitalized business, in reality, it had become a Ponzi scheme.”
“I was just using their platform as a checking account because they were paying better interest than a bank would,” says one customer, a below-the-line Hollywood worker (one of the legion of technicians and others without whom no movie or TV show would make it to the screen) who wrote to Judge Glenn and asked to remain anonymous.
‘This customer kept mainly U.S. dollars in his account, collecting 7% to 9% in an effort to keep up with inflation. “Mashinsky would go on the internet weekly and say, ‘Your money is safer here than in a bank.’ He made everybody believe it was a safe place. But they were lying and they lost everybody’s money. I wasn’t even investing there, just letting my money sit there.”
‘He’s now out $40,000 in U.S. dollars and $10,000 in crypto, leaving him strapped to pay this month’s rent. “I’m honestly not a big believer in crypto,” he told me.’
Yeah, they are paying 9% and regular banks are paying 0.01% therefore totally safe. What part of that doesn’t say “Ponzi scheme!”
It’s completely clear that everyone has forgotten “if it’s too good to be true…..”
A Rancho Cucamonga man told the judge that the possible loss of his family’s nest egg has driven him to drink and to the point that his wife of 17 years “asked me to leave our home due to my emotional turmoil and unpredictability…. I don’t know how to express the guilt, the frustration, the shame, the self-doubt, and absolute anger that I am feeling regarding the burden I have caused and placed on my family.”
You don’t gamble with “family” money. Imbecile!
“Faced with a liquidity crisis, Celsius began to offer double-digit interest rates in order to lure new depositors, whose funds were used to repay earlier depositors and creditors,” Stone’s lawsuit states.
Haven’t I read something like this before?
“…used to repay earlier depositors…”
The big-shots escape plan!
Culver, OR Housing Prices Crater 24% YOY As Subprime Mortgage Implosion Accelerates
From the first 13:23 video:
Vancouver Real Estate Prices just DROPPED $500,000…. [ WITH PROOF]
John Pinton- Vancouver Realtor
Premiered Aug 10, 2022 Vancouver Real Estate prices have fallen dramatically since early March…prices that once were 1.8m are now as low as $1,300,000 in some areas of Vancouver. With further interest rate hikes planned this fall…its possible these homes could go even lower. However, with recession on the horizon and many companies laying off employees recently..and also with inflation numbers leveling off…the bank of canada could surprise us and stop rate hikes sept.7th which would send many buyers back into the housing market very quickly!
The second 12 minute video:
CANADA
The Mortgage Trigger Point Is Coming! – Finance Fridays
Team Sessa Real Estate
Aug 12, 2022
The Vancouver area has lots of expat Chinese who paid top dollar to buy a slice of freedom.
Since at least the mid-90s, it’s been known as Hongcouver. My mother lived there briefly. Seasonal affective disorder is real.
…and so it begins…
https://twitter.com/WallStreetSilv/status/1558247609545854976
China’s housing crash has wiped out $90 billion from builders’ stock and bond values this year as debt crisis looms
https://www.yahoo.com/video/chinas-housing-crash-wiped-90-143542527.html
‘Add Impac Mortgage Holdings to the list of mortgage lenders that posted a loss in the second quarter of 2022, despite an effort to reduce expenses. In the most challenging mortgage market in well over a decade, executives at Impac have opted to pull back on non-QM products, which represent most of the company’s originations.’
https://www.housingwire.com/articles/impac-mortgage-holdings-backs-off-non-qm-posts-ugly-q2-results/
81 million votes can’t be wrong!
You will freeze hungry in the dark…to stick it to Putin!
And…
This epic bear market rally trap has about two more weeks to play out
‘As price growth slowed and inventory increased slightly, Northern Virginia housing sales dropped 28.8% in July compared with last year, according to a Northern Virginia Association of Realtors report published Friday.’
“More options are available to homebuyers now that the market is calming. It remains a seller’s market, but the feeding frenzy has subsided somewhat,” NVAR President-Elect Heather Embrey, a Realtor with Better Homes and Gardens Real Estate Premier, said in a statement. “Well-maintained, updated properties that are priced correctly are still in very high demand.”
‘The median price for a home sold in Northern Virginia last month was $650,000, up 1.6% from July 2021, but lower than June’s median of $684,500.’
https://www.virginiabusiness.com/article/july-nova-home-sales-drop-29-from-2021/
‘The median price for a home sold in Northern Virginia last month was $650,000, up 1.6% from July 2021,
Will next month be negative Year-over-year?
Column: Shame, suicide attempts, ‘financial death’ — the devastating toll of a crypto firm’s failure
‘I am one of the little guys…. It was my nest egg. Now when I go to work, I drink water and eat any scraps I can find for lunch…. I am in deep depression and do not know if I can pull myself out of this. — Brandon Lawrence, Celsius customer.’
‘A Rancho Cucamonga man told the judge that the possible loss of his family’s nest egg has driven him to drink and to the point that his wife of 17 years “asked me to leave our home due to my emotional turmoil and unpredictability…. I don’t know how to express the guilt, the frustration, the shame, the self-doubt, and absolute anger that I am feeling regarding the burden I have caused and placed on my family.”
‘Andrew wrote, “I wish I had the financial freedom that was suggested in this statement right now — instead, like tens of thousands of users, we are unable to access our funds that we believed to be ours to withdraw or transfer anytime. This is the exact opposite of financial freedom — more like financial jail, or worse for many … financial death.”
“Faced with a liquidity crisis, Celsius began to offer double-digit interest rates in order to lure new depositors, whose funds were used to repay earlier depositors and creditors,” Stone’s lawsuit states. “Thus, while Celsius continued to market itself as a transparent and well-capitalized business, in reality, it had become a Ponzi scheme.”
“I was just using their platform as a checking account because they were paying better interest than a bank would,” says one customer, a below-the-line Hollywood worker (one of the legion of technicians and others without whom no movie or TV show would make it to the screen) who wrote to Judge Glenn and asked to remain anonymous.
‘This customer kept mainly U.S. dollars in his account, collecting 7% to 9% in an effort to keep up with inflation. “Mashinsky would go on the internet weekly and say, ‘Your money is safer here than in a bank.’ He made everybody believe it was a safe place. But they were lying and they lost everybody’s money. I wasn’t even investing there, just letting my money sit there.”
‘He’s now out $40,000 in U.S. dollars and $10,000 in crypto, leaving him strapped to pay this month’s rent. “I’m honestly not a big believer in crypto,” he told me.’
https://www.latimes.com/business/story/2022-08-12/column-celsius-bankruptcy-shows-how-small-crytpo-investors-lost-out
Using it as a checking account……………………….
Oh, ok.
Yeah, they are paying 9% and regular banks are paying 0.01% therefore totally safe. What part of that doesn’t say “Ponzi scheme!”
It’s completely clear that everyone has forgotten “if it’s too good to be true…..”
A Rancho Cucamonga man told the judge that the possible loss of his family’s nest egg has driven him to drink and to the point that his wife of 17 years “asked me to leave our home due to my emotional turmoil and unpredictability…. I don’t know how to express the guilt, the frustration, the shame, the self-doubt, and absolute anger that I am feeling regarding the burden I have caused and placed on my family.”
You don’t gamble with “family” money. Imbecile!
“Faced with a liquidity crisis, Celsius began to offer double-digit interest rates in order to lure new depositors, whose funds were used to repay earlier depositors and creditors,” Stone’s lawsuit states.
Haven’t I read something like this before?
“…used to repay earlier depositors…”
The big-shots escape plan!
Culver, OR Housing Prices Crater 24% YOY As Subprime Mortgage Implosion Accelerates
https://www.movoto.com/culver-or/market-trends/
As one national broker conceded, “I wouldn’t be shocked if prices fell 50% or more. In fact we’re forecasting it.”