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u/Such_Radio_9152

r/themayormccheese r/union r/WorkReform r/Economics r/jobs r/ProfessorFinance r/stupidpol r/collapse r/rebubblejerk r/REBubble r/SeattleAreaRE r/inflation r/HouseBuyers
▲ 396 r/rebubblejerk+3 crossposts

Lennar downgrades housing forecast AGAIN. Homes are NOW selling at lower prices than before the pandemic. Lower than the should-have-been recession and housing bust of 2019.

When the long-deferred financial reckoning day finally catches up to the Fed's asset bubbles & Ponzi markets, the wipe-out of fake wealth created by fake money is going to be epic.

u/Boo_Randy_Revival — 2 months ago
▲ 365 r/REBubble+2 crossposts

JUST IN: ACROSS ALL ACTIVE US HOUSING LISTINGS AS OF THIS MORNING, 1 IN 5 SELLERS WHO BOUGHT IN 2022-23 IS NOW ASKING LESS THAN THEY PAID

The home buying class of 2022 bought at or near the top of the housing market. Today, 19% of them with a home on the market are listing at an unrealized loss - 10x the rate of sellers who bought before 2020, despite having nearly two-thirds as many homes on the market as that entire cohort.

The damage: $1.7 billion in unrealized losses, a median haircut of $30,000 per home.

One cohort. Half of every underwater listing in America.

Where it's worst: Austin. 59% of 2022-23 buyers selling there are asking less than they paid - a median $84,000 below their purchase price.

Unrealized loss = the seller's asking price is below what they originally paid.

u/Boo_Randy_Revival — 2 months ago
▲ 911 r/Economics

China Is Propping Up the World Economy by Importing a Lot Less Oil. Beijing plugs a three-million-barrel hole with little visible disruption, but analysts aren’t sure how long it can keep going

wsj.com
u/Such_Radio_9152 — 2 months ago
▲ 375 r/ProfessorFinance+1 crossposts

We economists have done the maths: ‘growth’ is a doomed strategy – there is a better way. Olivier De Schutter, Joseph Stiglitz, Jayati Ghosh, Thomas Piketty, Kate Raworth and Jason Hickel

theguardian.com
u/Such_Radio_9152 — 2 months ago