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Eye opener for October 02, 2023

Given that the percentage of housing cost for some people in America has risen to as high as 60%, who could honestly and genuinely say that residential real estate will rebound? The ever-increasing cost of single-family homes is unsustainable. The residential real estate market will there life have to correct , if not collapse before it can rebound.

This is especially true because the way in which the rich and powerful helped American maintain their standard of living while wages have remained stagnant ilsince the 1980s is not so easy to sustain as it was decades ago. When the minimum wage was decoupled from inflation, the only way for many to keep up was to use credit and go into debt.

Credit cards allow people to postpone actually having to pay for their lives, but also diminishes their wealth through exorbitant interest payments. That credit is now untenable for many and unattainable for many more as the Federal Reserve is only going to keep rates high or raise them. And, the banks are less likely to extend credit to a population that can't pay it back. Even countries like the U.S. has lost the trust of rating agencies that have downgraded America's credit worthiness. The U.S. Dollar did allow America to print debt into existence but the high interest rates in bonds is proof that fewer creditor nations like China are willing to take the risk on America's ability to honor those "loans" and American citizens are starting to realize that China is correct in it skepticism. While China has its own set of problems, including a housing bubble, it is at least not ushering in it demise through worldwide militarism as is the United States.

Investing in a home in most markets in America now only makes sense if you don't mind that home losing value for the next few years and you don't plan to use it as a rental or an air BNB. Just wait, because the desperation sell off is coming, as is the pain American leaders have guaranteed with their words and deeds

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