I have 3 theories on this:
1. They are falling for the hype of the world imploding in on it self and the oceans boiling away due to global warming, and want to find backup shelter. I mean global worming is real but I don't think it will manifest it self so quickly that you need something right now.
2. Owning a bunker in NZ is the popular meme in the elite community.
3. They really do know something is coming, and that's the scary scenario.
Check that Ticker....... i'm getting nothingLook at DXY chart
It's the US$Check that Ticker....... i'm getting nothing
No ticker it’s a derivative of dollar strength just google DXY chart and pick one you likeCheck that Ticker....... i'm getting nothing
Different from $USD ? BTW: Why you following it ?No ticker it’s a derivative of dollar strength just google DXY chart and pick one you like
Hmmmm that is not what this chart shows. Activity may be slowing, so realtors will go back to making 30k-200k a year instead of 200k-800k a year. But realtor commissions (and mortgage brokers) making monster commissions and maying an average living is not going to tank the economy.
Gold and rates
Z06,^^^ Looks like that chart is starting to roll over ... give it time to catch up to what's coming as the article eludes to. If there is a housing bubble pop it will add more pain to the economy.
Houses don't sell if there's not mortgage taken out. Sure some people pay "cash", but that's noise in the system.
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If mortgage interest rates keep going up - and they will - it's going to make people stop selling and buying to some extent. Housing prices will have to come down a lot to make people want to pay an 8 or 10+% interest rate mortgage. That along with the increased prices in pretty much everything else in the economy. Where's all the extra money people need to buy all this more expensive stuff coming from?Z06,
What the chart you posted tells me is people may not be motivated to sell, and if so, with a housing shortage, single family home prices could start to rise again very soon.
Z06,If mortgage interest rates keep going up - and they will - it's going to make people stop selling and buying to some extent. Housing prices will have to come down a lot to make people want to pay an 8 or 10+% interest rate mortgage.
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Then those people will be spending way more money on a mortgage and not on other things (like cars, vacations, "want items" vs "need items", etc, etc) which will also impact the economy due to less demand for other things beside a roof over their head. Maybe everyone needs a big old mortgage payment so the demand for other things do down so those prices can come back down, lol.Z06,
It the housing shortage is accurate, what options do people that can afford a mortgage have as an alternative to buying? Many people with solid jobs have families and won't rent. All I see is that people that need a home have some negotiating power.