The Housing Crash Begins Economic Collapse In America 2017 2018
The banks were given BILLIONs in 07-09 so that they can loan it out, they held it and credit dried up, greatly slowing the recovery....doing that again ( helicopter money) will do nothing, they will just sit on it again.
There is a big difference between this coming crash and the crash of 2008, and I'm wondering if anyone has any comments concerning this difference. In 2010, I was a housing inspector for the banks, I did inspections on homes in foreclosure, and on foreclosed homes in the Sedona area of Arizona. Most of the people who had their homes foreclosed, stop paying their mortgages because they were so far underwater, also because of lost jobs. Many of these homes were never put on the market by real estate agents or listed by the MLS, they went to auction where they did not sell, then the banks took ownership of these properties as" real estate owned" or Ira. The bank took these homes and sold them to front companies like Blackstone, whose CEOs all work for Wells Fargo, Chase, Bank of America, you get the idea. In other words, the banks sold these homes to themselves for practically nothing, and there was no bidding, there is no real estate listings. The banks then took these homes and with a new financial instrument somewhat like mortgage-backed securities, excepting these financial instruments were based on rental income and sold on the stock market. 60% of all the real estate purchases since 2008 was for cash, I believe most of it was sold or given to front companies for the central banks. So, the big difference this time between 2008 in the upcoming crashes this, if 60% of all the real estate bought was with cash and there is no mortgage, then there is no way to be underwater? And since rents are not coming down at all because of the buying up of housing stock by the banks themselves through front companies, and because of the new rental financial instruments sold on the stock market, there's a possibility that the crash will not play out at all like the 2008 crash because, there will not be any foreclosures on the 60% bought for cash. I am thinking that regular people will lose their jobs and be foreclosed on, and the process will start all over again, wherein the in the central banks will owned outright most of the private property United States if the trend continues. The interesting thing is, these very same central banks financed the Soviet Union in which the government" central banks," owned all the property and rented it to the peasants. So the big question in all this dialogue is, will the upcoming crash play out much different than the 2008 crash because 60% of the properties were bought with cash? Therefore these properties will never be underwater, and there be no pressure to sell them particularly with the rental incomes they create for the companies controlled by central banks like Blackstone the largest real estate company in the world
The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more
Posted by Nicole Bourbaki