👉Housing Market 2020 Doomed to Crash -- Mass Exodus out of the Big Cities like New York !!
Housing Market 2020 Doomed to Crash -- Mass Exodus out of the Big Cities like New York !!
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The recent pandemic and resulting lockdown have been an absolute shock nationwide.
Travel, hospitality, retail, entertainment, and other industries have been completely devastated.
Unemployment is currently 20 percent, and benefits are only beginning to trickle out.
The housing market is slowing.
Nationwide property sales have slowed down. It is much, much harder to get a loan now than it was before during the high of the frenzy thanks to the passing of the Dodd-Frank Act.
The entire real estate market in this country is in trouble.
That's what happens when after 2008, you have Fannie and Freddie hide 5-7 million homes (shadow foreclosures) and print money like there's no tomorrow. Anybody that thought there was a valid economic recovery since 2008 needs their head checked. Oh, and fake pumped-up numbers and markets don't matter to me.
And Don't Forget the Bernanke Wealth Effect of purposeful Bubble Pumping and Forced Manipulated 5000-year lows in interest rates and over a decade of ZIRP. You could see this bubble miles away, but it's taken a lot longer to blow than most of us thought.
And The worst is yet to come.
In New York City, the nation's largest real estate market, the pandemic has caused a number of deals to go bust. Manhatten, the real estate market, is basically frozen right now, with a record low number of sales and contracts.
New listings are down 70 percent over last year .contracts that were signed before the lockdown are being broken or renegotiated.
We have 67 contracts canceled in march and 43 in April for Manhatten alone. The Average price cut in April is between ten and fifteen percent.
Brokers expect prices to fall up to 20 percent or more. People are fleeing to the suburbs. The big cities like New York are becoming death traps and an overtaxed dumps.
Corona was a small test run of what can and will happen. Smart people are leaving big cities entirely.
New York City is priced for simpletons anyways. It is basically the west coast Hollywood, just like Orlando.
👉 For the full transcript go to https://financearmageddon.blogspot.com
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Support the channel by clicking here before you start shopping on Amazon: https://tinyurl.com/sqwekhd (heck, even bookmark it for future use if you're feeling extra generous).
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👉 Follow us on Facebook : https://www.facebook.com/theatlantisreport
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👉Recommended Economic and Financial books :
Destined for War: Can America and China Escape Thucydides's Trap? https://amzn.to/33RwG52
How an Economy Grows and Why It Crashes by Peter Schiff : https://amzn.to/33Tk8Ky
Bitcoin: The End Of Money As We Know It https://amzn.to/31TXAqX
The Death of Money: The Coming Collapse of the International Monetary System https://amzn.to/2L2688q
COPYRIGHT DISCLAIMER:
Under section 107 of the Copyright Act of 1976, allowance is made for “fair use” for purposes such as criticism, comment, news reporting, teaching, scholarship, education and research.
Видео 👉Housing Market 2020 Doomed to Crash -- Mass Exodus out of the Big Cities like New York !! канала The Atlantis Report
👉 Donate to help The Channel: https://tinyurl.com/vqbgwld
Subscribe to My Backup Channels :
Channel #2 :👉 https://tinyurl.com/rns93e6
And
Channel #3 :👉https://tinyurl.com/vhaftlj
The recent pandemic and resulting lockdown have been an absolute shock nationwide.
Travel, hospitality, retail, entertainment, and other industries have been completely devastated.
Unemployment is currently 20 percent, and benefits are only beginning to trickle out.
The housing market is slowing.
Nationwide property sales have slowed down. It is much, much harder to get a loan now than it was before during the high of the frenzy thanks to the passing of the Dodd-Frank Act.
The entire real estate market in this country is in trouble.
That's what happens when after 2008, you have Fannie and Freddie hide 5-7 million homes (shadow foreclosures) and print money like there's no tomorrow. Anybody that thought there was a valid economic recovery since 2008 needs their head checked. Oh, and fake pumped-up numbers and markets don't matter to me.
And Don't Forget the Bernanke Wealth Effect of purposeful Bubble Pumping and Forced Manipulated 5000-year lows in interest rates and over a decade of ZIRP. You could see this bubble miles away, but it's taken a lot longer to blow than most of us thought.
And The worst is yet to come.
In New York City, the nation's largest real estate market, the pandemic has caused a number of deals to go bust. Manhatten, the real estate market, is basically frozen right now, with a record low number of sales and contracts.
New listings are down 70 percent over last year .contracts that were signed before the lockdown are being broken or renegotiated.
We have 67 contracts canceled in march and 43 in April for Manhatten alone. The Average price cut in April is between ten and fifteen percent.
Brokers expect prices to fall up to 20 percent or more. People are fleeing to the suburbs. The big cities like New York are becoming death traps and an overtaxed dumps.
Corona was a small test run of what can and will happen. Smart people are leaving big cities entirely.
New York City is priced for simpletons anyways. It is basically the west coast Hollywood, just like Orlando.
👉 For the full transcript go to https://financearmageddon.blogspot.com
👉 Amazon Affiliate Links : https://tinyurl.com/sqwekhd
Support the channel by clicking here before you start shopping on Amazon: https://tinyurl.com/sqwekhd (heck, even bookmark it for future use if you're feeling extra generous).
Thank you to all my loyal fans i love each and everyone one of you Please **like and subscribe**
👉 Follow us on Facebook : https://www.facebook.com/theatlantisreport
and on twitter : https://twitter.com/atlantis_report
👉Recommended Economic and Financial books :
Destined for War: Can America and China Escape Thucydides's Trap? https://amzn.to/33RwG52
How an Economy Grows and Why It Crashes by Peter Schiff : https://amzn.to/33Tk8Ky
Bitcoin: The End Of Money As We Know It https://amzn.to/31TXAqX
The Death of Money: The Coming Collapse of the International Monetary System https://amzn.to/2L2688q
COPYRIGHT DISCLAIMER:
Under section 107 of the Copyright Act of 1976, allowance is made for “fair use” for purposes such as criticism, comment, news reporting, teaching, scholarship, education and research.
Видео 👉Housing Market 2020 Doomed to Crash -- Mass Exodus out of the Big Cities like New York !! канала The Atlantis Report
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