The Federal Reserve is not currently forecasting a recession
Ben Bernanke, 2008
"Over the past two months U.S. mortgage rates increased almost a full percent from 3.50% to 4.375%.
The higher the interest rate, the less house one can afford
Given such an increase, a prospective homeowner determined to limit their mortgage payment to $3,000 a month would need to seek a 10% reduction in the price of a house. In the current interest rate environment, this equates to drop from $668,000 to $601,000 in order to achieve a $3,000 a month mortgage payment.
The value of a lot of homes just went down,
and most don't know it
One would expect that homebuilders temper their optimism, given that a key determinant of housing demand and ultimately their companies’ bottom lines is facing a sturdy headwind."
Same goes for auto loans;
Meanwhile in subprime land;
Real Estate Bubble; "Rates have now moved nearly a half a percentage point higher since Donald Trump was elected president"
Consumer Credit as a % of Disposable Personal Income = Spending More Than We Make
Doug Casey; "We’re at the peak of the biggest financial bubble in world history"; "Sell all your bonds"
The perversity of disinformation "Look for Tanger Center in 2019"
News and Record's fake news on the megasite, which isn't in Greensboro or even Guilford
Say Yes to Education only different; Dallas Pension Board stops $154M in withdrawals"
The cowardice of Greensboro News and Record's Doug Clark and Allen Johnson