In this video, I talk with author and economic analyst John Sneisen @TheEconomicTruth about the major bubble burst on its way to New York's real estate market as U.S. home prices reach 1% off of their 2006 highs. We all know what happened next...
Manhattan's home prices have plunged the most since 2009 in the first quarter. People are anxious about buying and we're seeing the results already. As the bubble gets unsustainable, investor confidence holds up a manipulated market with little fundamental value or demand.
When examining the Bronx, as we write this, there are 1567 homes for sale by agent. Well, to follow that up, there are 2090 pre-foreclosures. That's a massive indicator that something isn't right.
As the 2006 highs are reached across the board in the United States, the signs are not pointing in the right direction. Derivatives are unimaginably volatile. Collaterlized debt obligations have returned to banks such as Wells Fargo and they're now called collateralized loan obligations as if that changes the fact that they're terrible bundled mortgages rated by a couple good mortgages thrown in, often triple A.
We are seeing the combination of localized housing bubbles, bond market bubbles, stock market bubbles and of course central banking bubbles. This is the end result of vast centralization.
See the FULL video report here:
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Those rising interest rates are going to kill a lot of industries. The FED thinks they can raise interest rates while everyone is up to their eyeballs in debt, without breaking the economy? The "economists" at the FED are delusional.
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You guys are doing great work. I hope you get more exposure to help wake people up. Power is in the economic structure & we the people can change the system if we are smart economically. Unfortunately, it’s going to take a worse shock than last time to get average people to change.
The good news, if you’re an optimist, is that we are getting closer to mathematical reality everyday & soon a lot more people will be forced to wake up to a more real reality
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Canadian housing bubble will burst too, especially Vancouver and Toronto. Invest in real tangible asset, wait for the crash, then buy a house for ridiculously cheap price
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Good morning friend
Thanks My video post
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Great time to invest in precious metals
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Good video Josh/John :) Keep the content coming.
Must say I'm happy to be out of nyc at this point in my life. It's about time for the economy to recycle and I don't think nyc (or any major metropolitan area) would be the best choice for residence during that type of economic event.
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I wonder how bad is it going to get in Chicagoland ❓Remember if you all know anything about real estate in the Chicagoland area is that the surrounding area of Chicago can be more valuable . There are a lot of billionaires living near by .
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