it’s gonna get worse
I work in a red state that has been booming for the last 10 years. Home prices were skyrocketing, mortgage rates were low and construction for single family homes and apartments was going crazy.
I am a project manager/estimator for a medium sized construction company, I would average 5 to 10 quotes for subdivisions and multi unit developments every week non stop during this period.
This fall I have bid on one subdivision….ONE.
We are in for a long and painful recession. Prepare accordingly.
https://twitter.com/WallStreetSilv/status/1598530203755728896
4 thoughts on “it’s gonna get worse”
Housing is cyclic. Has been for decades. Lots of other economic indicators and venues are also cyclic. People need to understand this and plan accordingly.
You mean, you mean my mcmansion won’t continue to increase in value? You mean I won’t be able to pull that value out of the house; to finance my lavis lifestyle. You mean, you mean I might need to back off from that lifestyle.
Oh heaven forbid!!!
I think it’s a good idea to keep an eye on those “normies” who still can’t seem to be cured of their normalcy biases. “Things always get better” or some variation thereof is their mantra. The good ol’ USA always pulls through in the end. Yeah, well one day it won’t, I am certain that day has arrived. The implosion seems to be slo-mo for now, because of the above, FoxNews-ism, and a dozen other lying entities and myths passed down generation to generation. These “drowsies”, once actually awakened, are going to be a handful in a completely different way than the east to spot wokies and NPCs. They might even be more dangerous when they get desperate.
Housing sales were bound to collapse, what with all of the Liberals keeping their promise to move to Canada after the elections.