Author Topic: The Cracks Are Showing In the Housing Market Once Again  (Read 731 times)

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Online rangerrebew

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The Cracks Are Showing In the Housing Market Once Again
« on: July 18, 2014, 06:26:00 AM »
- The Daily Sheeple - http://www.thedailysheeple.com -



The Cracks Are Showing In the Housing Market Once Again

Posted By Joshua Krause On July 17, 2014 @ 10:35 pm In Economy,Editor's Choice,Featured | No Comments


Cracked [1]

If you observe current events, it can seem like there are economic emergencies everywhere. Every segment of the economy appears to be under immense pressure. What with the massive student loan debt, federal debt, municipal debt, derivatives, and a stock market that seems to magically rise above it all, flying in the face of all logic and common sense, it’s surprising that the whole thing hasn’t come tumbling down yet. And yet, the next collapse may come from somewhere that is very familiar to us. It appears that many of us haven’t learned anything from the last bubble.

It’s possible that the next wave of economic malaise may come from the housing market once again. Economists were expecting another increase in home building and loans. Instead, housing starts dropped [2] 9.3 percent last month, and building permits fell 4.3 percent across the nation.

Meanwhile, The Wall Street Journal is telling everyone that there’s nothing to see here (which is tantamount to telling a crowded building that the smoke isn’t from fire). They’re claiming that these recent declines are in fact, due to an unusually rainy [3] season in the Southern United States. Apparently there has been a 30 percent drop in housing starts in the South. In the same paragraph the article mentions that there has been an increase of 28 percent in the Midwest and 14 percent in the Northeast. Surely those numbers alone would offset the bad weather in the South. The article also fails the mention the Western United States, where I can assure you that rain has not been a factor for quite some time.

Mortgage rates also fail to explain the situation, as they’ve been dropping significantly [4] the past 6 months. Perhaps a better explanation would be the 5 percent decrease [5] in home loan applications that took place in a May and June, which was also coupled with a slight decrease in the average loan size. Doesn’t that make real sense? That perhaps not as many people can afford to buy a home, and maybe construction companies and investors are beginning to see the writing on the wall? 2+2=4, and stuff like that?

The truth is the housing market, and the economy at large, has never fully recovered. That hasn’t stopped the price of housing from returning to pre 2008 levels in some areas, and the skyrocketing price of the stock market. The true nature of these events is obvious, when it can be seen that these prices have gone up significantly since Bernankes QE4 dumped billions [6] of dollars into the economy every month. It would make sense that the markets are finally beginning to crack up, since Yellen has expressed her desire to stop quantitative easing [7] entirely this year. Again, 2 and 2 equals what now?

Don’t let yourself get caught up in these schemes. The Bernankes, Yellens, Buffets, and Soros’ of the world expect you to buy buy buy just as they’re getting around to selling [8]. They rely on hype and insider secrets to fleece regular folks who enter these markets. They’re trying to prop up the corpse of this economy like it’s “Weekend at Bernie’s” and they expect us to buy it, literally and figuratively. Well, all I can say is, don’t.

Delivered by The Daily Sheeple [9]


Contributed by Joshua Krause of The Daily Sheeple [10].

Joshua Krause is a reporter, writer and researcher at The Daily Sheeple [11]. He was born and raised in the Bay Area and is a freelance writer and author. You can follow Joshua’s reports at Facebook [12] or on his personal Twitter [13]. Joshua’s website is Strange Danger [14] .


Article printed from The Daily Sheeple: http://www.thedailysheeple.com

URL to article: http://www.thedailysheeple.com/the-cracks-are-showing-in-the-housing-market-once-again_072014

URLs in this post:

[1] Image: http://www.thedailysheeple.com/wp-content/uploads/2014/07/Cracked.png

[2] dropped: http://www.businessinsider.com/housing-starts-building-permits-2014-7

[3] unusually rainy: http://online.wsj.com/articles/housing-starts-sank-9-3-in-june-1405600397

[4] dropping significantly: http://www.nytimes.com/2014/07/18/upshot/housing-starts-fell-in-june-heres-why-thats-bad-news.html

[5] decrease: http://dsnews.com/news/07-11-2014/new-home-purchases-drop-june

[6] dumped billions: http://www.forbes.com/sites/afontevecchia/2012/12/12/qe4-is-here-bernanke-delivers-85b-a-month-until-unemployment-falls-below-6-5/

[7] stop quantitative easing: http://www.washingtonpost.com/opinions/the-end-of-quantitative-easing-is-good-news/2014/07/13/ae1815be-0863-11e4-a0dd-f2b22a257353_story.html

[8] to selling: http://www.moneynews.com/MKTNews/billionaires-dump-economist-stocks/2012/08/29/id/450265/

[9] The Daily Sheeple: http://www.TheDailySheeple.com/

[10] The Daily Sheeple: http://www.thedailysheeple.com/

[11] The Daily Sheeple: http://thedailysheeple.com/

[12] Facebook: https://www.facebook.com/pages/The-Daily-Sheeple/114637491995485

[13] Twitter: https://twitter.com/vagabondjosh

[14] Strange Danger: http://stdanger.blogspot.com


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Offline Oceander

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Re: The Cracks Are Showing In the Housing Market Once Again
« Reply #1 on: July 18, 2014, 09:38:59 PM »
Here's to hoping it crashes good and hard this time.

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Re: The Cracks Are Showing In the Housing Market Once Again
« Reply #2 on: July 18, 2014, 11:54:48 PM »
Here's to hoping it crashes good and hard this time.

FYI....while I am actually retired today, I sold real estate for over 35 years.  However, I'm still exposed to it on a daily basis in my "retirement job". 

We're still seeing multiple offers on properties here in the DC region.  Some zipcodes are more active than others of course.

'We' just had a property that had SIX bonafide offers and after accepting what was clearly the cleanest offer, at the eleventh hour the bank declined to fund the mortgage because "....over 10% of the existing condos in the complex are currently HOC (Housing Opportunities Commission) funded sales.

Unlike a guaranteed payday for listing agents, it's a nightmare for agents who choose to represent purchasers. 

One can be a bridesmaid in a multiple offer situation so many times before human nature kicks in and the buyer 'blames' the agent counseling them instead of the market conditions.

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Offline Oceander

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Re: The Cracks Are Showing In the Housing Market Once Again
« Reply #3 on: July 19, 2014, 12:05:49 AM »
FYI....while I am actually retired today, I sold real estate for over 35 years.  However, I'm still exposed to it on a daily basis in my "retirement job". 

We're still seeing multiple offers on properties here in the DC region.  Some zipcodes are more active than others of course.

'We' just had a property that had SIX bonafide offers and after accepting what was clearly the cleanest offer, at the eleventh hour the bank declined to fund the mortgage because "....over 10% of the existing condos in the complex are currently HOC (Housing Opportunities Commission) funded sales.

Unlike a guaranteed payday for listing agents, it's a nightmare for agents who choose to represent purchasers. 

One can be a bridesmaid in a multiple offer situation so many times before human nature kicks in and the buyer 'blames' the agent counseling them instead of the market conditions.




Thank goodness for all that government largesse being dispensed to the federal government's public union members.  In the rest of the country things aren't quite so rosy.

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Re: The Cracks Are Showing In the Housing Market Once Again
« Reply #4 on: July 19, 2014, 12:09:54 AM »

Thank goodness for all that government largesse being dispensed to the federal government's public union members.  In the rest of the country things aren't quite so rosy.

Actually, the largest group buying real estate with cash offers are Chinese. 

Makes me wonder if the people/investors, etc. are agents of the Chinese government.  Where the hell do these people get all this money?

Some banks have opened up offers to only 'owner/occupants' for the 1st two weeks placed on the market....in order to keep the investor "wolves" at bay.
"It aint what you don't know that kills you.  It's what you know that aint so!" ...Theodore Sturgeon

"If you want to change the world, go home and love your family".    ...Mother Teresa

"It's not the mountain before you, but the pebble in your shoe"      ....or something like that

Offline Oceander

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Re: The Cracks Are Showing In the Housing Market Once Again
« Reply #5 on: July 19, 2014, 12:12:14 AM »
Actually, the largest group buying real estate with cash offers are Chinese. 

Makes me wonder if the people/investors, etc. are agents of the Chinese government.  Where the hell do these people get all this money?

Some banks have opened up offers to only 'owner/occupants' for the 1st two weeks placed on the market....in order to keep the investor "wolves" at bay.

They may be moving money offshore (from China, that is) and "storing" it in US real estate - an asset that won't lose value the way that paper money can (and does).

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Re: The Cracks Are Showing In the Housing Market Once Again
« Reply #6 on: July 19, 2014, 12:43:02 AM »
Actually, the largest group buying real estate with cash offers are Chinese. 

Makes me wonder if the people/investors, etc. are agents of the Chinese government.  Where the hell do these people get all this money?

Some banks have opened up offers to only 'owner/occupants' for the 1st two weeks placed on the market....in order to keep the investor "wolves" at bay.

When we had our antique mall, we had some dealers that dealt in fine antique jewelry.  There were several Chinese customers that would buy practically all of the jade and ivory they had - plus gold pieces that were priced right.  They spent PLENTY of money - thousands and thousands of dollars at a time.  It was nice when they came buying - but it was a pain in the ass too.  They would talk to each other in Chinese and I never had a clue what they were saying. 
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Re: The Cracks Are Showing In the Housing Market Once Again
« Reply #7 on: July 19, 2014, 01:06:52 AM »
When we had our antique mall, we had some dealers that dealt in fine antique jewelry.  There were several Chinese customers that would buy practically all of the jade and ivory they had - plus gold pieces that were priced right.  They spent PLENTY of money - thousands and thousands of dollars at a time.  It was nice when they came buying - but it was a pain in the ass too.  They would talk to each other in Chinese and I never had a clue what they were saying.

Yep....I'm so jealous of this agent friend of mine.   He speaks fluent Mandarin. 

Although, nowadays, there are dozens of well-known Chinese-American real estate agents to serve their needs, with direct access to their respective embassy.

But at least he knows what they're saying in real time, vs. having translators.
"It aint what you don't know that kills you.  It's what you know that aint so!" ...Theodore Sturgeon

"If you want to change the world, go home and love your family".    ...Mother Teresa

"It's not the mountain before you, but the pebble in your shoe"      ....or something like that

Online alicewonders

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Re: The Cracks Are Showing In the Housing Market Once Again
« Reply #8 on: July 19, 2014, 01:21:56 AM »
Yep....I'm so jealous of this agent friend of mine.   He speaks fluent Mandarin. 

Although, nowadays, there are dozens of well-known Chinese-American real estate agents to serve their needs, with direct access to their respective embassy.

But at least he knows what they're saying in real time, vs. having translators.

I did get one of them to teach me how to say "thank you" in Chinese.  It's "xiexie" - pronounced "she-she".  I wanted to say thank you to them in their language because they were such good customers. 
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Re: The Cracks Are Showing In the Housing Market Once Again
« Reply #9 on: July 19, 2014, 01:26:39 AM »
I did get one of them to teach me how to say "thank you" in Chinese.  It's "xiexie" - pronounced "she-she".  I wanted to say thank you to them in their language because they were such good customers.

Probably guaranteed you even more custom!  :beer:

The chinese are huge on respect, and saying thank you in their own language is a really big sign of respect.
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Online alicewonders

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Re: The Cracks Are Showing In the Housing Market Once Again
« Reply #10 on: July 19, 2014, 01:34:20 AM »
Probably guaranteed you even more custom!  :beer:

The chinese are huge on respect, and saying thank you in their own language is a really big sign of respect.

It got to where they would let me know when they were coming to town so I could alert the dealers to "bring in the good stuff". 
 ***cool cat***
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Re: The Cracks Are Showing In the Housing Market Once Again
« Reply #11 on: July 19, 2014, 07:56:46 PM »
I did get one of them to teach me how to say "thank you" in Chinese.  It's "xiexie" - pronounced "she-she".  I wanted to say thank you to them in their language because they were such good customers.

I know the Chinese word for constipation - Hungchow. :silly:
America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves. Abraham Lincoln

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Online alicewonders

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Re: The Cracks Are Showing In the Housing Market Once Again
« Reply #12 on: July 19, 2014, 11:47:05 PM »
I know the Chinese word for constipation - Hungchow. :silly:

Sum ting wong - I have hungchow.    :chairbang:

I'm so sorry for hijacking this thread.   :hijack:
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