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2021 Real Estate Crash & Homeless Zombie Apocalypse

 
Gnostic Warrior
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User ID: 79770380
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02/25/2021 08:12 PM
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2021 Real Estate Crash & Homeless Zombie Apocalypse
Hello, It's Moe here with another walk and talk in Downtown San Diego where I discuss the "Real Estate Bubble & Homeless Zombie Apocalypse."

Yes, we are in a massive real estate bubble in the U.S.A. that will pop and crash in 2021 and the homeless zombie crisis has just begun.


Regards,

Moe

[link to GnosticWarrior.com] THERE IS A WAR FOR YOUR SOUL!

[link to www.LoanSafe.org] FIGHTING BIG BANKS!
Gnostic Warrior  (OP)

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02/25/2021 08:14 PM
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Re: 2021 Real Estate Crash & Homeless Zombie Apocalypse
The economic stress induced by COVID-19 directly impacted many consumers’ ability to repay their loans.

At the onset of the crisis, with no income and money to pay for housing, it didn’t take long for the onslaught of mortgage and personal loan delinquencies to skyrocket after they had declined for 27 consecutive months.

In the first month of the pandemic, 1.6 million jobless Americans could no longer make their monthly house payments.

Corelogic then reported in April a sudden jump for early-stage delinquency rates (30-59 days past due) which quickly reached its highest level in 21 years at 4.2%.

Black Knight said the change delinquency rates were 90.22% higher at 6.45%;
Regards,

Moe

[link to GnosticWarrior.com] THERE IS A WAR FOR YOUR SOUL!

[link to www.LoanSafe.org] FIGHTING BIG BANKS!
Gnostic Warrior  (OP)

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02/25/2021 08:16 PM
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Re: 2021 Real Estate Crash & Homeless Zombie Apocalypse
Nearly double from 3.06% in March 2020.

These numbers represent the largest single-month increase ever recorded, and nearly three times the prior record for a single month during the height of the financial crisis in late 2008.

That included the nearly 211,000 borrowers who were in active foreclosure. With the foreclosure moratoriums in place, foreclosure starts and foreclosure sales hit record lows. Starts dropped more than 80 percent from this time last year, while foreclosure sales declined 93% for the same period.

THE GREAT AMERICAN HOMEOWNER BAILOUT

The only politically viable option for temporarily propping up real estate and avoiding a massive bubble was through a $3 trillion emergency lifeline to consumers signed by President Trump on March 27. It was called the Coronavirus Aid, Relief, and Economic Security (CARES) Act, amalgamating several vital pieces of legislation to note.
Regards,

Moe

[link to GnosticWarrior.com] THERE IS A WAR FOR YOUR SOUL!

[link to www.LoanSafe.org] FIGHTING BIG BANKS!
REaliZe

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02/25/2021 08:21 PM

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Re: 2021 Real Estate Crash & Homeless Zombie Apocalypse
What do we expect when all privately owned businesses were forcibly shut down a year ago?
There's. A. H0le. In. The. Sky.
Gnostic Warrior  (OP)

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02/25/2021 08:27 PM
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Re: 2021 Real Estate Crash & Homeless Zombie Apocalypse
What do we expect when all privately owned businesses were forcibly shut down a year ago?
 Quoting: REaliZe


That is what you and I expect but it looks like most Americans are asleep to these facts as they debate about who their Presidential savior will be or what their unemployment investing is doing in the stock market as they sit on twatter and facebook all day posting how smart they are.

Last Edited by Gnostic Warrior on 02/25/2021 08:27 PM
Regards,

Moe

[link to GnosticWarrior.com] THERE IS A WAR FOR YOUR SOUL!

[link to www.LoanSafe.org] FIGHTING BIG BANKS!
Gnostic Warrior  (OP)

User ID: 79770380
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02/25/2021 08:29 PM
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Re: 2021 Real Estate Crash & Homeless Zombie Apocalypse
According to the New York Federal Reserve’s Quarterly Report for the 2nd Quarter released in August 2020, 61.1% of these delinquent homeowners became current by entering into a forbearance plan. Meaning, that they were late on their mortgage but for banking accounting’s sake and to not cause a massive housing crash, these people were given a free lifeline to save their homes from potential foreclosure.

The NY Fed said;

“The uptake in forbearances is notably visible in the delinquency rate transitions for mortgages.

The share of mortgages in early delinquency that transitioned ‘to current’ spiked to 61.1% reflecting that many of those became forborne, while there was a decline in the share of mortgages in early delinquency whose status worsened during the second quarter of 2020.

There were only 24,000 new foreclosure starts; given that homeowners with federally backed mortgages are currently protected from foreclosure
through a moratorium in the CARES Act.”

FOR EXAMPLE, AT THE TIME OF THIS WRITING, 3,542,000 ARE DELINQUENT OF WHICH 2,504,000 ARE SERIOUSLY DELINQUENT (90+ DAYS) ON THEIR MORTGAGES.

The seriously delinquent number represents only 100,000 less than when the COVID-19 pandemic started at 2,366,000 and not far behind the Great Recession levels of the last housing crash which saw 2,973,000 at its peak.
Regards,

Moe

[link to GnosticWarrior.com] THERE IS A WAR FOR YOUR SOUL!

[link to www.LoanSafe.org] FIGHTING BIG BANKS!
Gnostic Warrior  (OP)

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02/25/2021 09:09 PM
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Re: 2021 Real Estate Crash & Homeless Zombie Apocalypse
THESE DELINQUENCY RATES ARE THE FIRST SIGNS THAT HOUSING WAS ABOUT TO COLLAPSE.
One thing we can safely say as we look back was that this was the U.S. government’s emergency bailout of the economic system that was surely heading for a massive crash as we have never seen in the history of this country.

At the time of this writing, the number of home mortgages in October that entered into forbearance plans due to the COVID-19 pandemic climbed 15% higher than in September, according to the latest report by Black Knight Financial Services. Approximately 4 percent of all GSE-backed mortgages and 9.7 percent of all FHA/VA loans are now in forbearance plans.

Black Knight said an increase in borrowers entering into these agreements with many resuming previously expired plans, so this month saw significantly fewer people exiting from the program.

The data firm said that there was a total of 33,000 new plans initiated through October 27. New forbearance plans dropped by 7.0 percent month-over-month while reactivations are on the rise at 50 percent.

The increase brought the number of plans to over 3 million again, and the share of all active loans in mortgage forbearance risen from 5.6 percent the prior week to 5.7 percent. These loans represent $619 billion in unpaid principal. Since March, over 80 percent of these loans have had their terms extended.

As these agreements end, millions of borrowers will be required to make their monthly mortgage payment again.

IN ALL, THE $11 TRILLION RESIDENTIAL MORTGAGE MARKET HAS BECOME INCREASINGLY DISTRESSED SINCE THE START OF THE CRISIS.
According to Xiaoqing Zhou, the senior economist in the Research Department of the Federal Reserve Bank of Dallas;


“These provisions, if implemented quickly and effectively, may curtail the rise in the mortgage delinquency rate, provided the economy returns to full employment after a short period. If the economic shutdown is extended or if consumer demand remains weak after the economy reopens, these provisions will only delay rather than offset the expected rise in the delinquency rate.”
Regards,

Moe

[link to GnosticWarrior.com] THERE IS A WAR FOR YOUR SOUL!

[link to www.LoanSafe.org] FIGHTING BIG BANKS!





GLP