Housing Market Update | WE’RE SCREWED (economic crisis 2020)
Today is August 20, 2020 and here is your housing market update!
0:28 Donation For Citadel
1:20 Technically In a Recession
3:40 Bank of England Study
4:25 What the big banks are doing
5:06 Woah! Breaking News
5:26 Economic Data
6:08 What does The economic data tell us
7:12 Real Estate Data
10:15 US Debt Clock (Scary stuff)
11:10 Am I the only crazy one?
12:41 Why am I making these videos?
13:58 Is this a good time to buy?
14:15 100k give-away
The Citadel Link:
Welcome back to your housing market update. So technically we are in a recession, there is a lot of speculation surrounding the housing market with the historical numbers the housing market has been doing as far as lending and buying, we are still have negative numbers in the last 2 quarters. So do i think it’s going to get better or worse? To be honest, I think it will get worse for the housing marking and the economy unfortunately. I am not attempting to sound pessimistic at all, I am just trying to be real in regards to the economic crisis and the housing market. I try in stay right in the middle when it comes to the economic crisis, housing market, and what you should do to protect yourself from the impending market crash.
James Montier said, “I’ve never seen a market so highly valued in the face of uncertainty”. He’s got a really good point in regards to the economy and the housing market. And I agree with him, because of the amount of over-levering the major banking institutions, is a good indicator, take a look back at 2007.
The Bank of England released a study back in 2018 about the over-leveraging numbers from 2007 compared to now, and that was 2 years ago, imagine what those numbers look like now in regards to the economic crisis and housing market right now!
1.8 million jobs were added in July to the economy but were still sitting at a 10.2% unemployment rate. The airline industry is looking to loose around 75,000 jobs during the economic crisis. 60,000 restaurants are permanently closed due to the economic crisis.
The massive over leveraging of banks that surround the commercial mortgage backed securities, is at the center of this housing crisis. But we are still seeing a total sellers housing market.
There is your housing market update for August 20, 2020!
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