Yea, I had predicted that that the corporate office space (and commercial real estate) vacancy issue was going to be one of the BIG results of the lockdowns, due to the (so called) pandemic. In fact, it should have been a no-brainer. And, just something else you'll just about never hear reported in the main stream media. Including, the disparity between income and the cost of housing, which I think HAS to result in some kind of real estate market crash. The housing affordability thing has become a HUGE problem, as wage growth has not even come close to matching the spike in the cost of housing in much of the United States, which has been exasperated by many of the corporate, wall street, private equity, hedge fund real estate investors, and some other factors...
"A whole lot of people would love to see rents come down. This whole paradigm of rent being 50% of someone's income and banks saying that is normal is a recipe for lifelong poverty." -YouTube Viewer
"BlackRock just walking away from commercial real estate is a clear sign they feel like they are 'too big to fail.' They are setting up for a gov bailout - because they know they can. This is all the signal you need, to know something is wrong." -YouTube Viewer
"Old enough to remember bank CEOs admonishing people in 2008 for doing the exact same thing, walking away from their underwater houses." -YouTube Viewer
Of course! (I myself, believe the housing market is DEFINITELY going to crash).
In fact, this really, should be a no-brainer. i.e. Similarities to the housing market crash of around 2008 for one. The historically incredible increase in home prices going on for something like a year now, is artificial, and basically unsustainable to begin with, for reasons I'm not going to get into here. It just doesn't add up, for at least some of the reasons this guy does go into. (Not to even mention the COVID thing). But it really goes even deeper then that. It's becoming an increasingly serious issue, with many underlying factors, that has been going on for some time now...
And after the last big housing bubble that began after Sept. 2001, the banks DID eventually tighten their lending restrictions (when that market had crashed around 2008) so that it made it very difficult for ordinary homeowners to refinance their mortgage, or take out a home equity loan for example, because their loan to value ratio had plummeted; as the housing market back then, was also artificially inflated, but then forced to crash! (When all the exotic type loans the banks were offering back then, eventually came due - with accrued interest no less!) And that's why I believe there are sort of like some of the same similarities, or factors there, that led to this present bubble. (In other words, if the bubble doesn't make sense to begin with, and is built on a house of cards in the first place, it WILL eventually crash!) I know all the signs, because I worked in the Mortgage Industry for some time, and learned allot over the years.
(And the signs are DEFINITELY there with the current housing bubble). And the Loan Modification program implemented by the Obama Administration at that time, was (for the most part anyway) a disaster; exacerbating the situation. It mostly bailed out the banks, but not the honest mortgager, who was now faced with a worsening economy...
And there was ALLOT of fraud. Which caused the housing bubble in the first place.
As (I strongly believe) is the case now. So these are some of the similarities I am talking about. And interest rates sunk to a historic low back then as well, after 9/11. (Which helped facilitate the mortgage bubble, that made some people very rich. Especially the CEO's of the banks, who now had all these new loans on their balance sheets, before the market crashed and they were bailed out!) Like it is now (and what seems to be happening now) with the COVID thing. Once again, "same sh*t, different day"...
"This is where we are at right now. as a whole. No one is left out of the loop. We are experiencing a reality based on a thin veneer of lies and illusions. A world where, greed is our God and wisdom is sin, where the ego - driven cleverness of the mind is praised, rather than the intelligence of the heart. " - Bill Hicks 12/16/61- 2/26
(David Shultz - YouTube Viewer)
Yea, this video very interestingly points out, that it was when President Nixon (the crooked assh*le that he was) took the U.S. currency off the Gold Standard back in 1971, was pretty much when (hidden) inflation kicked in like never before.
(And when everything pretty much changed!) All you have to do is look at commodities like the cost of milk, bread, gas, housing, etc. back then, and now, to see that this is probably not too far from the truth. And then, the Federal Reserve kicked in to make up the difference, to the point where now, everyone is like, in debt to the Fed (and the Central Banks) WITH INTEREST!!! So selfishly corrupt has this financial (and its related economic) system become, that some have even likened it to 'The Beast' of Revelation!
"This video was very educational.. I graduated over 20 years ago but this was never explained ever." -Jessa Lyn (YouTube Viewer)
"Yeah, the creation of the "fed" is never explained either...that's our real downfall" -Andre Fecteau (YouTube Viewer)
"They do explain it in school, but only in the best interest of bankers. They tell you how FED is good for the well being of the United States and individual citizens. When in fact, they are straight up robbing people through reckless fractional reserve lending, bailing banks out by massive money printing when the markets are down, and lying to the public that money printing is beneficial for the masses and this was some how all an accident." -Cafe Latte (YouTube Viewer)
"Yeah. No one seems to know what 'fiat currency' is. Bad money and good money does not mix." -300 BLK (YouTube Viewer)
