- May 9, 2007
Wait until the real estate market corrects, you'll find plenty of deals. Luxury cars and real estate too!
It's going to be far worse than 08 in my opinion. You will start to see increased foreclosures (already up 39% this year). When inflation hits 7% (probably in June) watch out. Companies will start with employee reduction, those people can't pay their mortgages or rent, then it starts. This economy has been built with a house of cards, REITS, the money comes from the stock market. It is coming, expect major changes. But yes, luxury items are the first to start go.
The same situation in that the liars are the investors, REITs are pushing up values and making housing unaffordable, when they can't rent, what do you think will happen? They are overpaying on purpose, these are not safe investments for those thinking REITs are a good investment. It is inflation. The inflation also includes food shortages, coming soon,, increased, and unjustifiable rents, costs of goods, and everything inflation touches. It is here now, not quite sure where you are not seeing the effects, all grocery is up, everything is more expensive. This is really bad politics by the Biden Administration and Gates, Soros, the rest of the criminals. Just a sad place we are in and what is coming is even worse.How would it be like 08? That was the collapse of liars loans and subprime mortgages that aren't being generated anymore. Short sales will be more prevalent.
The current glut of foreclosures is due to people not understanding mortgage forbearance and being unable to make all the back payments owed. It's not really anything to do with inflation, yet.