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30 Latest Key charts that show the dire straits Housing is in!
2011 Jul 8, 2:21am 2,089 views 9 comments
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2011 Jul 8, 3:34am
Hey this guy is stealing my bit:
8mortgagedebtmonster.jpg
http://research.stlouisfed.org/fred2/graph/?g=11x
I think the US economy and everyone not holding a good deflation/inflation hedge is generally screwed, yes.
We need to devalue and inflate, but this makes energy more expensive, which is a cost-push throughout the economy since we use oil for everything.
The best solution would be to just pull a Hitler and actually invade KSA, Bahrain, Iran, and Libya and take our oil back. The pump price might be $4 still but $3 of that would go to the government, which would be a $250B/yr redirection from OPEC to us.
The spice must flow.
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Here are 30 latest charts that show the terrible condition that the real estate market (and general economy) is in and why it is a terrible time to buy at this time. Is there any one that can argue with the facts of these charts? If so, try to make your arguments with reason and not emotion.
The author is Michael David White, a Chicago mortgage broker who is one of the most honest guys around that writes about real estate. He is honest and realistic about the facts on the ground even though his views go against his income stream. I correspond with him via email regularly regarding buying (primarily because of his honesty) and he consistently tells me not to buy but to wait.
His conclusion: Sell now and run for the exits. Don't hold. Don't buy. Rent. If you buy now, you will lose your shirt and more.
Link
#housing