Cash Out Before The Bubble Bursts - Los Angeles, California
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
About Me
Name:Ben Jones
Location:Northern Arizona, United States
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Thanks to the poster who mentioned hearing this ad earlier today.
Pesky. Can’t stop it or close it.
You can right-click, “copy video URL” and paste it into a new tab. it will come up in youtube where you can pause, stop, or close.
San Francisco, CA Housing Prices Crater 12% YOY As Housing Turns Radioactive
https://www.zillow.com/south-of-market-san-francisco-ca/home-values/
*Select price from dropdown menu on first chart
I see you did not use Movoto for this post……..
https://www.movoto.com/san-francisco-ca/market-trends/
Is that because it showes prices are up, days on market are down, and inventory is dropping?
HA!
Crickets…..chirping.
Ebola
Emeryville, CA Housing Prices Crater 8% YOY As Tech Wreck Trashes Bay Area Economy
https://www.movoto.com/emeryville-ca/market-trends/
These mortgage brokers “financialize” the FBs coming and going.
It’s your money, why let the bank take it in foreclosure?
On a positive note, the more the people are reminded this is all just a bubble, the sooner prices can fall back to sustainable levels.
It may be “your” money, but it’s not your house until the final mortgage check clears. Which millions of FBs are going to discover the hard way.
Which millions of FBs are going to discover the hard way.
Then there are the taxes, which can make an FB of anyone.
Not sure if this was here before.
Local snapshot from Silicon Valley:
http://popehandy.rereport.com/market_reports
What is up with the popup that won’t die?
Sorry. I get it now.
Bellevue, WA Housing Prices Crater 12% YOY As Sinking China Economy Scorches Seattle Area
https://www.movoto.com/bellevue-wa/market-trends/
Cash out refinancing is a form of speculation, as this ad points out.
Do any of the “sound lending” people want to comment?
Reminds me of a River…
The dying colonel stumbles towards the detonator and collapses on the plunger just in time to blow up the bridge and send the train hurtling into the river below. Warden turns toward the only survivors of the commando raid, the women bearers, and begs their forgiveness for having to kill Joyce and Shears, and throws the mortar launcher away in disgust, and prepares to leave. Clipton, observing the carnage, shakes his head muttering, “Madness!, Madness!”.
River Kwai.
De Nile
Not Just Re-FIs.
New 320 unit luxury apt approved for Belltown, downtown Seattle. These guys are going to play musical chairs until the very end.
https://news.theregistryps.com/skanskas-320-unit-development-in-belltown-approved-at-third-early-design-guidance-meeting/
It’s never their own money, though, so they go BK and then form another corporation and buy it back for pennies on the dollar because they’re insiders.
No need to pray for a housing bubble crash, Vancouver renters. No divine intervention needed - the Vancouver bubble is going to crash under the weight of its own fictitious and unsustainable valuations relative to median income, just as all bubbles eventually do.
https://globalnews.ca/news/4410606/metro-vancouver-renters-praying-for-a-housing-crash-new-poll-says/
The “it’s different here” crowd of Vancouver Kool-Aid drinkers are in for a rude awakening.
https://www.vancouverisawesome.com/2018/08/28/vancouver-housing-prices/
Emeryville, CA Housing Prices Crater 8% YOY As Homeowners Uncover Defective Appraisals
https://www.movoto.com/emeryville-ca/market-trends/
But…but…shortage! Pent-up demand!
https://wolfstreet.com/2018/08/29/supply-of-homes-for-sale-listings-surges-in-many-markets-pending-home-sales-drop/
What’s causing the drop-off in pending home sales in the US, and in particular in the West?
Surging home prices that have outrun wage increases for years?
Mortgage rates that hover around 4.8% for the average 30-year fixed-rate mortgage, the highest since 2011?
The massive affordability issues that come with the combination of soaring home prices and rising mortgage rates?
A softening exuberance among homebuyers?
And it comes amid a sudden urge by homeowners and investors in many markets to put their homes and properties up for sale, while the market is still hot. And just as suddenly the supply is surging, in some of the metro areas by 50% to 90% from a year ago. More on that phenomenon in a moment.
One thing is clear, whatever the cause, the wind has changed in those markets.
Can you spell “emerging market contagion” boys and girls? I knew you could.
Global debt loads have tripped since 2008, thanks to central banks flooding the world with fabricated money for their financial sector cronies to embark on the biggest gambling and speculative spree in human history. Now let’s see what happens when countries with massive dollar-denominated debts and tanking currencies like Turkey, Argentina, and Brazil have to start paying back those loans in dollars and euros.
https://www.telegraph.co.uk/business/2018/08/29/fresh-woe-turkey-banks-downgraded/
(Correction: global debt loads have tripled, not tripped. Heckova job, Ben & Janet.)
From the article:
Fears of a contagion risk - whereby investors lose confidence in emerging markets en masse - remain heightened after Moody’s also warned that Argentina was likely to face a recession lasting into 2019. The Argentine peso has endured similar devaluations to the Turkish lira.
JPMorgan has estimated that some $179bn (£139bn) of Turkish external debt will mature in the year to July 2019, with many substantial payments falling due in the next two months. The total sum is equivalent to nearly a quarter of its annual economic output.
Thank God our robust, production-based economy is ring-fenced from all these emerging-market dominoes. Thank God it wasn’t our banks that extended them ridiculous amounts of credit and loans.
Oh, wait….
https://uk.mobile.reuters.com/article/amp/idUKKCN1LE1UR
Is China finally getting serious about curbing capital flight?
http://www.investmentwatchblog.com/another-sign-the-bitcoin-bubble-is-ending-china-launches-an-unprecedented-crackdown-on-cryptocurrencies/
“Crypto” is one of the biggest scams there has ever been, and the fact that Marketwatch added a “crypto ticker” is borderline criminal.
The usual UK “experts” employed by the usual globalist media outlets are claiming there’s a 1 in 3 chance that London home prices will crash in the next two years if the British go through with BREXIT. In other words, the globalists and oligarchs are pulling out all the stops to frighten the British sheeple into staying in the corrupt, unaccountable EU and having no control over their own borders.
Meanwhile, a poll of two HBB posters - myself and Apartment 401 - concludes, with far greater authoritativeness, that there is a 100% change of a London housing price crash regardless of whether BREXIT happens or not. The reason for this has nothing to do with BREXIT and everything to do with the long-deferred financial reckoning day finally showing up after the ten-year debt and speculative binge fueled by Fed and central bank funny money “QE” and lunatic Keynesian monetary experiments.
https://www.theguardian.com/business/2018/aug/29/one-in-three-chance-of-london-house-price-crash-says-expert-poll
Debt Donkeys don’t like it. Rockin’ the crater. Rock the CRATER.
Arvada, CO Housing Prices Crater 7% YOY
https://www.movoto.com/arvada-co/market-trends/