The housing market is about to explode into a full-blown disaster. Millions of tenants have been piling up their debt during the current recession and economists alert for a gigantic wave of evictions, foreclosures, and bankruptcies which could trigger a chain reaction leading the real state market to a crisis just as disastrous as the 2008 crash. Nobel Prize Winner Robert Shiller affirms that the housing price bubble largely exceeds the stock market bubble, and things are about to get unsustainable pretty soon. In this video, we examine the chaotic situation of the housing market according to experts' perspectives and expose the many determinants that have been inflating this massive bubble. As soon as the year turns, several cities will face a storm of evictions, foreclosures, and bankruptcies as the housing bubble that has been massively inflating throughout the year will explode into a full-blown disaster.
With tens of millions of Americans out of their jobs and unable to pay rent for the past several months, leaving building owners struggling to meet their mortgages payments, a new study by the nonprofit CSS alerted that this situation will probably set off a chain reaction that could ultimately lead to a housing crisis comparable in scale to the 2008 crash. CSS President David Jones explain that although the economic downturn has been the trigger for this current situation, the bubble has been in the making for over a decade. They have been pleading to political leaders to address the approaching crisis without delay, stressing that it's urgent to take immediate measures to "stop the bleeding". Some cities, such as New York, are now in a critical position since a staggering rate of rental delinquency was registered and landlords have been eagerly waiting for the end of the forbearance period to solicit the issuance of eviction orders. Since rental payments cannot be nullified, all the unpaid rent has continued to be accumulated throughout the crisis, generating an enormous economic burden that will wreck many households when the bill comes due.
On many occasions, real estate firms entered 2020 leveraged to the maximum, demanding for ever-higher rents and then borrowing against the value of those income streams. “As real estate markets soared in several cities across the state, landlords raised rents, re-sold their buildings at higher prices, and used their properties’ rising values to take out ever-larger mortgages,” the report describes. If this description sounds like something you've heard before, it's because you did. The report also recalls that from the mid-1990s up to the 2008 mortgage crisis, real estate firms started an irrational rush of buying and selling buildings and consistently raising rental prices.
Considering rental properties are usually structured as limited liability corporations, the bankruptcy of one building alone doesn't pose a harsh impact on the finances of the real estate parent company. In short, for the firms involved the market boom and bust can be like a game of Monopoly, but for renters, it can be the difference between having a safe home and being homeless. For the past decade such firms have been repeating the same misconduct, all of this could happen again next year. That doesn't mean that capitalizing in the real state market is a despicable investor attitude, but allowing the formation of a colossal wave of foreclosures at the expense of entire cities' economies just to ensure predatory investments could come at a high cost to the whole nation, warns CSS President David Jones.
Additionally, for homeowners, the outlook doesn't look any rosier. Today, there are fewer homes for sale in the U.S. than ever documented in roughly 40 years, when data started to be recorded. For this reason, it's understandable why home prices are going up much faster than incomes, making homeownership less affordable for more and more Americans. "We are simply facing a housing shortage, a major housing shortage," expressed Lawrence Yun, the chief economist at the National Association of Realtors which tracks home sales. "We need to build more homes. Supply is critical in the current environment."
On a similar note, in a recent article, investment advisor for SitkaPacific Capital Management, Mike "Mish" Shedlock illustrated how home prices are in a bubble that is even bigger than the stock market bubble. On the basis of Yale University professor and Nobel Laureate Robert Shiller's evaluation, Mish explains why although stocks are overvalued considering historical measures, "it’s nothing compared to skyrocketing home values." "Robert Shiller calls it a bubble, and so do I," Mish concludes.
Basically, everywhere one can look inside the housing markets ravaging signs indicate the coming of a catastrophic burst. It's literally just a matter of time.
It's Friday after Election Day... and we STILL do not know who is President Elect!!!
I'm wondering if SCOTUS will end up deciding this election like they did with Bush v. Gore?
7.0 magnitude earthquake in the Aegean Sea causes tsunami on Greek island of Samos. October 30th 2020By admin
A powerful earthquake has struck off Turkey's Aegean coast, north of the Greek island of Samos, officials said. The tremor of up to 7.0 magnitude struck off the coast of Turkey's Izmir province, the US Geological Survey (USGS) said, and was felt as far away as Athens and Istanbul.
In Samos, the island closer to the epicentre of the earthquake, a church and some buildings have collapsed, the sea has risen and the roads are flooded
Sea pulled back, that's a sign before tsunami/flooding
Building collapse 10 minutes after the eq
Samos cathedral partially collapsed
By Srecko Sostar
google translation from article in Sweden, -
Hello guest! Please register or sign in (it's free) to view the hidden content. 25 000 000 SEK = cca 2.400.000,00 EUR (2.800.000,00 US Dollar)
Jehovah's Witnesses demand 25 million from the state
Published 9 Jul 2020 at 17.00
Jehovah's Witnesses have been denied state funding for several years.
Last year, the government overturned the decision - and now the organization is demanding SEK 25 million in compensation.
After being denied state subsidies twelve years in a row, the government last year approved the organization as eligible to receive grants for denominations.
The reason was a ruling by the Supreme Administrative Court which ruled that the practices of Jehovah's Witnesses - such as denying blood transfusions - do not in themselves constitute sufficient grounds for denying state subsidies.
Requires SEK 25 million
Jehovah's Witnesses believe that their rights under the European Convention have been violated.
Jehovah's Witnesses are now applying for damages of nearly 25 million in compensation for the years without support, as evidenced by documents produced by News Agency Siren.
The claim, which has been sent to the Chancellor of Justice, applies to both financial and non-pecuniary damage. Jehovah's Witnesses also include legal costs to claim their case.
By Michael Krewson
He definitely lays a good solid prediction out there....
Although I wonder with the amount of money printing and the buying up of broad ETF's... including REITS.... will his secondary prediction be the actual one.... where housing prices don't go down... the dollar amount actually goes up due to inflation. Notice the comment he makes about the value going down though.
ANCHORAGE, Alaska -- A powerful earthquake off Alaska’s southern coast shook sparsely populated coastal communities late Tuesday and prompted some residents to briefly flee to higher ground because of tsunami fears.
There were no immediate reports of damage in the Alaska Peninsula and the tsunami warning was canceled after the magnitude 7.8 quake offshore created a wave of a less than a foot (30 centimeters).
The earthquake struck Tuesday at 10:12 p.m. local time and was centered in waters 65 miles (105 kilometers) south-southeast of the tiny community of Perryville, at a depth of 17 miles (28 km), according to the U.S. Geological Survey.
At least two people have died after a powerful earthquake shook central and southern Mexico, swaying buildings and sending thousands of people into the streets on Tuesday.
The 7.4 magnitude earthquake struck at 10:29 a.m. local time (5:29 pm CEST) on Tuesday, according to the US Geological Survey (USGS).
The USGS estimated that two million people felt strong or moderate shaking and another 49 million felt weak or light shaking.
Seismic alarms sounded in the morning, giving enough warning for residents to exit buildings.
Read more: https://www.euronews.com/2020/06/23/powerful-7-4-magnitude-earthquake-hits-mexico
By James Thomas Rook Jr.
Norway is the great catalyst that will force the GB to start thinking about basic human rights, as currently there is a lot of discussion in the Norwegian Government about " ... Why are we giving the Watchtower Bible and Tract Society Norwegian dollars (Kroners) every year from Tax money for their charities ... for EACH and every of the approximately 112,000 JWs in Norway (paraphrased), when they prohibit their members to vote"... which THEY consider to be an inalienable, and non-negotiable human right of all peoples, everywhere.
The WTB&TS is currently being governed by the Lawyers, Accountants, and the Finances department, with the GB not admitting being personally responsible for ANYTHING.
What we consider "reasonable", they consider EXTREMIST, and many European nations give tax money to ALL legitimate churches, without restriction on how they spend it.
By violating what these governments' and peoples' basic understanding on what constitutes extremism, soon, if not already, it is going to affect the flow of cash into the Society's Treasury.
One of several major concerns of the Governing Body is to not hemorrhage money, as it has been doing for years in the constant Child Sexual Abuse court cases.
THIS is what will drive any change .... not love ... not justice ...not fairness .... MONEY!
By the way .... has the Society recently decided that voting is a matter of personal conscience?
What I have read is so "weasel worded", I cannot tell.
By Srecko Sostar
The Holocaust Victim Assets Litigation (Swiss Banks) CV-96-4849 is a fund to compensate people suffering from the Holocaust. As stated at swissbankclaims.com/index.asp (3 Mar 2006);
By James Thomas Rook Jr.
I just got this email today, from somebody who got my name from the Archive!
It says to "READ MESSAGE WITH CAREFULNESS"
This is supposed to be a secret, so if you tell anybody ... tell them not to tell!
Dearest In The Jehovah James Thomas Rook, Jr ,
READ MESSAGE WITH CAREFULNESS By a Reliable source i got your esteemed contacts through a Magazine of Jehovah Witness I read it was given to me by a Witness who came to Minister to us in the Asylum Camp here and decided to contact you after deep thought and prayers. This message is a Bitter but True life story of myself, indeed it is a well known fact that the internet allows for the unfiltered Ice Breaking Opportunity to meet someone who will be of Great assistance and help and people even meet over the Internet and end up getting Married WITHOUT KNOWING EACH OTHER BEFORE, so do give my message a Genuine Thought and Trust because i have a Genuine Intentions before contacting you. My name is Michael Santino 25 years old, Single and the eldest child of Late Mr./Mrs. Williams Santino; i am the only surviving child of the family, i was Lucky because i was away in the University when the Rebels attacked my house and killed every body at home, what a Dark day in the history of my life. I came from the oil-rich region of Abyei, North East of South Sudan (THE WORLD YOUNGEST COUNTRY 9th JULY 2011) and my late father was a GOLD/METALLIC MINERALS Businessman who made his wealth from this business; even during his days alive he was so Generous to every person within and outside our Ethnicity this made him famous everywhere but in 2013 when the war broke out between President. Salva Kiir and his First Vice President Mr. Riek Machar the whole of South Sudan knew no Peace any more which eventually lead to the brutal killing of my entire family together with our house keepers including my Daddy's driver that fateful day. I managed with hundreds of peoples that flee to Juba our Capital for rescue of my life where i got the help of UN Peace Keeper who took me into the only flight heading to Nigeria where there is Peace, better and well kept Refugee Camp for our safety. Before this ugly war my late father told me that he has Secretly deposited a Treasury Confidentially in a Security Company in Nigeria, he also told me that he Safe Keep it there for we his children so that when we grow up and matured we will share the wealth within our self (4 Children) and start a better living without suffering like he did when he was growing up, though we live a good Christian and decent life and are attending good schools to gain western knowledge but it has all been shattered now, and i want you to take me to your country where i will continue my education and start a new life. My dream is to be a Doctor and help the poor and less privileged people around Africa and the world at large, and this can be achieved with your help to be the Next Of Kin of my late father to claim this Box which is in the Security Vault of this Company here in Nigeria where i am presently seeking Asylum , but upon your answer to help me stand as the Next of Kin to claim this box which is containing $9.7 Million only then i will reveal to you how it shall be done with the assistance of my late fathers lawyer here also, but i offer you 20% of the total amount for your kind assistance to claim the box from the security company and to help me come over to your country to continue my education. Lawyer Contacts. Mr. Williams Owoyemi Tel. +234- 9054849316 Email: firstname.lastname@example.org Kindly visit these link and understand my predicament http://www.bbc.com/news/world-africa-14069082 https://www.cfr.org/interactives/global-conflict-tracker#!/conflict/civil-war-in-south-sudan http://www.pbs.org/newshour/bb/south-sudans-civil-war-spirals-genocide-leaving-ghost-towns-wake/ http://www.bbc.com/news/world-africa-25427965 I look forward to your kind answer and do keep this message secret if you will help me or not because i am afraid of my life and i just Trust you and God with lawyer to make my Dream come to Reality. Yours Son,
Michael ALTERNATIVE EMAIL: email@example.com ==================================================================== I have absolute confidence in the fact that this is a confidence game, every single word is a lie, and so painfully transparent that it is laughable. ( wait for it .... wait for it .....) (... here it comes!) HAHAHAHHHAAAHHHAHAHAhahahahaha !!!
By James Thomas Rook Jr.
This is a three part question with THREE related answers:
I saw a movie about a year ago about this Cowboy, driving his jeep through the desert, and he comes upon about six cars and pickup trucks grouped together, out in the middle of nowhere ... with bodies all around and in the vehicles. Apparently a drug deal had "gone bad", and the buyers and sellers had killed each other.. The pickup trucks are full of bales of drugs, and the cars are full of suitcases full of money. The Cowboy puts gasoline on the drugs, burning them up, and goes home with the money.
Did he STEAL the money ... and does he have a moral responsibility to return it to the people who were going to buy the drugs?
Bear in mind, he has broken NO LAW ... and he is not legally REQUIRED to report the criminal activity ..... much like the Society's position that they will not turn JW child sex abusers over to the police unless legally REQUIRED to do so.
Using the principles long established by the WTB&TS .... I would be inclined to keep the money !
Of course I would check for hidden tracking transmitters in the suitcases ... and take other evasive precautions.
.Question 1.) Did the Cowboy STEAL the money ... ?
Question 2.) Does he have a moral responsibility to return it to the people who were going to buy the drugs ... ?
Question 3.) What would YOU do?
EXTRA CREDIT: Was it immoral for the Cowboy to deliberately destroy the drug dealers' property?
By Bible Speaks
Do Love Money? - Is Money Your Master or Your Servant?
DO YOU suffer from money sickness syndrome? Reportedly, this condition afflicts a large percentage of the world’s population. What is it?
“The love of money is the root of all evil.” (1 Timothy 6:10, King James Version)
Some people have indeed developed a fondness for money and have devoted themselves to the accumulation of riches. Some have become slaves of money and have reaped tragic consequences. When managed properly, however, money can be a useful tool. The Bible acknowledges that “money solves a lot of problems.”—Ecclesiastes 10:19, (Holy Bible—Easy-to-Read Version)
Although the Bible does not claim to be a financial handbook, it does contain practical advice that can help you to manage money wisely. The following five steps are commonly recommended by financial advisers, and they are consistent with principles recorded in the Bible long ago.
What is your attitude toward money? How does the volatile nature of the world’s economy affect you? Is money your master or your servant? Perhaps you do not experience the symptoms of the so-called money sickness syndrome. Still, whether wealthy or poor, we are all vulnerable to the ill effects of money worries. Consider how adjustments in the way you handle your finances may bring you more peace of mind and a happier life.
Money may be your master if . . .
□ ?You avoid discussing finances because of the anxiety it causes
□ ?Money is often the subject of family squabbles
□ ?You spend compulsively
□ ?You worry constantly about bills
□ ?You are not sure how much you earn
□ ?You are not sure how much you spend
□ ?You are not sure how much you owe
□ ?Your bills are often bigger than what you expect
□ ?You often pay your bills late
□ ?You are able to make only the minimum payment on credit card bills
□ ?You pay your bills with money earmarked for other things
□ ?You take on extra work just to pay bills
□ ?You have taken out new loans to pay off old ones
□ ?You use savings to pay routine bills
□ ?You find it nearly impossible to get to the end of the month without running out of money
□ ?You feel pressure to accumulate large sums of money
□ ?You suffer physical and/or psychological symptoms resulting from money-related stress