Big Blitz Posted September 20, 2022 Author Posted September 20, 2022 Home "correction" ......er crash.... The home price correction is spreading Pressurized. That might be the best word to describe the current U.S. housing market. Record home price appreciation—up 43% during the pandemic—coupled with 6% mortgage rates are sidelining millions of potential homebuyers. The combination puts debt-to-income ratios for new buyers on par with levels hit during the peak of the housing bubble. That affordability crunch has already pushed the U.S. housing market into a housing downturn. Home sales are tanking. Homebuilders are calling off projects. And real estate firms are turning to layoffs. https://fortune.com/2022/09/20/home-price-correction-spreads-this-interactive-map-shows-if-your-local-housing-market-is-impacted/ Hope it was worth it This is a decade plus disaster 1 1
Chef Jim Posted September 20, 2022 Posted September 20, 2022 10 hours ago, Big Blitz said: Hope it was all worth it. Special place in hell for the people that let China (still not held responsible and still locking people down) destroy the planet because Trump bad. Economic catastrophe is coming. Of course this has to do with increasing rates. The number one tool in the inflation beating toolbox is rate increases. It's the price to pay to get inflation in check. It's enemy #1 regarding our economy now and it has to be brought back to historical norms. Home prices have already begun to drop due to these rate increases and I imagine you will see dramatic drops in home prices over the next 12 months or so. And that is not a bad thing.
Big Blitz Posted September 21, 2022 Author Posted September 21, 2022 (edited) "Inflation behind us".......hahaha.......... .....party in charge of the purse and Flu Lockdown not to blame nope....... Everything he says here is a lie. I hope fighting the flu was worth it! Powell Signals More Pain to Come With Rates Heading Higher Federal Reserve Chair Jerome Powell vowed officials would crush inflation after they raised interest rates by 75 basis points for a third straight time and signaled even more aggressive hikes ahead than investors had expected. “We have got to get inflation behind us. I wish there were a painless way to do that. There isn’t,” Powell told a press conference in Washington on Wednesday after officials lifted the target for the benchmark federal funds rate to a range of 3% to 3.25%. https://www.bloomberg.com/news/articles/2022-09-21/fed-delivers-third-straight-big-hike-sees-more-increases-ahead Struggling to "contain" it.......lol its like Tyreek Hill! Clowns on CNBC right now... "I think you're seeing the word 'pain' a lot because yes for the "greater good" this is a necessary measure....." Legit said this. Vote Blue everyone!! We need more!! Edited September 21, 2022 by Big Blitz
Doc Posted September 21, 2022 Posted September 21, 2022 Crush...the economy, more like it. And we're still a week-and-a-half away from OPEC cutting production. Meanwhile we're criminally depleting our SPR to cover for an incompetent and corrupt Admin's disastrous policies because there's an election coming up. 1 1
Big Blitz Posted September 21, 2022 Author Posted September 21, 2022 (edited) 8 minutes ago, Doc said: Crush...the economy, more like it. And we're still a week-and-a-half away from OPEC cutting production. Meanwhile we're criminally depleting our SPR to cover for an incompetent and corrupt Admin's disastrous policies because there's an election coming up. Twitter is fake trending "BlueIn22" and "TrumpCrimeFamily" at number 1 and 2 right above FOMC Edited September 21, 2022 by Big Blitz 1
Big Blitz Posted September 21, 2022 Author Posted September 21, 2022 Time to stop saying "Inflation." This IS THE ECONOMY. Your self inflicted covid economy. I'm honestly sick of hearing "Inflation." Like it's an entity that dag gone it just showed up outta nowhere and has decimated us - who knee? They all knew. They all knew what the fallout would be and didn't care because they knew enough of you - and most importantly every corporate and media entity - would fall for it all. Let this sink in as you stare at your monthly budgets. 1 1
B-Man Posted September 22, 2022 Posted September 22, 2022 THE FED RAISES INTEREST RATES BY 0.75%; The Propaganda Media Pretends It’s The Fed That’s Choking the Economy, Rather Than Biden’s Toxic Profligacy That Forced The Fed to Impose Higher Interest Rates. The Fed raised interest rates by 0.75% again. This is the third time they’ve raised it by three quarters of a point. The Dow fell 522 points by the close. The Atlanta Fednow tracker for GDP projection has reduced its forecast for the third quarter to almost zero — 0.3%. They’re trying to avoid the psychological shock of a full one point hike. The media is offering headlines suggesting it’s the Fed who is “taking the economy off the side of a cliff.” No, it was Joe Biden and the Democrat Congress who did that. They caused this runaway inflation. When you set a fire, the next thing that happens is that the fire department comes to put it out — and you can’t complain when they spray water everywhere and ruin all your furniture by soaking it. But that’s how the media is playing it. It’s The Fed’s fault! https://ace.mu.nu/archives/401054.php 1
Big Blitz Posted September 22, 2022 Author Posted September 22, 2022 Home prices see biggest drop in 9 years, thanks to higher mortgage rates Higher mortgage rates are throwing a bucket of ice-water on the super-heated housing market. Home prices in August were down about 6% from their peak in June, the biggest 2-month drop in prices in nearly a decade. The pace of home sales slowed for the 7th straight month. "The housing market certainly reacts to the monetary policy change," says Lawrence Yun, the chief economist for the National Association of Realtors which just released the new existing home sales numbers. https://www.npr.org/2022/09/21/1124272098/home-prices-see-biggest-drop-in-9-years-thanks-to-higher-mortgage-rates Thanks higher mortgage rates... This is no one's fault....it just is an unfortunate development for you and everyone that was hoping to sell around this time - or in the next decade. . 1
Doc Posted September 22, 2022 Posted September 22, 2022 13 minutes ago, Big Blitz said: Home prices see biggest drop in 9 years, thanks to higher mortgage rates Higher mortgage rates are throwing a bucket of ice-water on the super-heated housing market. Home prices in August were down about 6% from their peak in June, the biggest 2-month drop in prices in nearly a decade. The pace of home sales slowed for the 7th straight month. "The housing market certainly reacts to the monetary policy change," says Lawrence Yun, the chief economist for the National Association of Realtors which just released the new existing home sales numbers. https://www.npr.org/2022/09/21/1124272098/home-prices-see-biggest-drop-in-9-years-thanks-to-higher-mortgage-rates Thanks higher mortgage rates... This is no one's fault....it just is an unfortunate development for you and everyone that was hoping to sell around this time - or in the next decade. . Sure it is: it's Joke's fault. That's what we hear when something bad happens under a Repub President. Now the show is on the other foot. 2
BillStime Posted September 22, 2022 Posted September 22, 2022 14 minutes ago, Doc said: Sure it is: it's Joke's fault. That's what we hear when something bad happens under a Repub President. Now the show is on the other foot. I wish Joe could do something about real estate prices in Boston - oh well.
T master Posted September 23, 2022 Posted September 23, 2022 7 minutes ago, B-Man said: It sounds like this isn't a guy that Biden would listen to he makes way to much sense but as we can see they just keep passing spending bill after spending bill & printing more money to help others and it just can't last !! But that's what happens when you have the blind leading the blind just ask Tibs or BT they'll tell you how good they're doing . 1
B-Man Posted September 23, 2022 Posted September 23, 2022 10 minutes ago, T master said: It sounds like this isn't a guy that Biden would listen to he makes way to much sense but as we can see they just keep passing spending bill after spending bill & printing more money to help others and it just can't last !! But that's what happens when you have the blind leading the blind just ask Tibs or BT they'll tell you how good they're doing . True. By the way BillStime's correct initials are not "BT", but "B.S." . 1 1
BillStime Posted September 23, 2022 Posted September 23, 2022 15 minutes ago, B-Man said: True. By the way BillStime's correct initials are not "BT", but "B.S." . Rent free... Bonnie. lol
Big Blitz Posted September 23, 2022 Author Posted September 23, 2022 LFG!!!!!! Dow hits 2022 low as markets sell off on recession fears https://apnews.com/article/inflation-asia-sydney-hong-kong-d52eef9515eb638facfcfd75beeb0bce
B-Man Posted September 26, 2022 Posted September 26, 2022 ED MORRISSEY: Biden’s economic victory lap keeps getting interrupted by reality, or something. It’s tough to tell which party is more clueless in this construct. Is it the White House and Joe Biden, who threw a “Mission Accomplished” celebration of the so-called Inflation Reduction Act on the same day as the CPI report that showed inflation still clocking in above 8%? Or is it Politico, the news organization that wonders why people won’t let Biden have his victory lap while they struggle with five quarters of erosion in real disposable personal income? Answer: Both. https://hotair.com/ed-morrissey/2022/09/26/politico-bidens-economic-victory-lap-keeps-getting-interrupted-by-reality-or-something-n499000
reddogblitz Posted September 26, 2022 Posted September 26, 2022 2 minutes ago, Doc said: A victory lap...for what? Cuz there's an election in 6 weeks.
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