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RE: New Home Sales Plunge, Supply Grows. Can You Say Bubble? By Gregory Mannarino
I am been through many up and downs, since I have been in real estate for over 40 years. the prices are sky high here in Florida, but no problems to date on Mortgage companies, yet I see another problem that might cause a meltdown, student loan defaults. Now following and have upvoted you
Kinda sux what Blackrock and other Wall St entities did in the period betwixt 2009 and 2012 in purrtickler. I remember thinking in late 2009 that housing prices are actually getting close enough to make sense to actually buy up here in north central Fla. 3 years later I'm seeing multile homes owned by what are "obviously" arms of Wall St crooks like Blackrock showing up on the local Tax assessor's website. Seeing prices paid of like $35K for homes that are even now being "tried to be sold" for $100K+, as the ave home is now selling for closer to $120K last time I checked. So what did the Wall St sheisters do with all of that housing stock? Why they raised rents of course...leading to the recent boom in multi family construction. I agree with Greg on this one. Noooo waaaay you can hide the "real" price of a "discounted" home...the "real" market always gets to the right level. So here's "hoping" Blackrock is unable to liquidate it's portfolio of real estate holdings...and that things get bad enough that their renters just trash the place they are renting from Blackrock. karma sux. You are about to get slow in the real estate market. In the end you would be better off becoming the landlord instead of selling the home to the landlord. Just start stacking those dollars. I don't agree with Greg on the dollar. 90% of all homes in America going to lose 50% of current value...and the dollar going to become worthless? That's $trillions of dollars eliminated from the system in just housing alone! Wait till you see what I do the FANG's. Greg will see it my way but in order to see it he actually has to see it...becuz that's how Greg rolls. :-)