You should look at the housing market in Orlando...it's literally crashing right now. but obvi a mortgage loan officer doesn't have any personally vested interest in people getting mortgages.
Real estate is hyper local and obvi there's some volatile areas in FL, CA, TX, etc but national averages like Cash Shiller home price index will not show any dramatic drop in prices
@@ChrisOConnellMortgage Cash Shiller has a negative slope greater than 1 for the last five months. I feel like next you're going to try to tell me that the Cash Shiller home price index didn't drop that dramatically between 2006 and 2012.
@@nitroneonicman Yeah it usually does, going from the high point (June) of the year to the low point (January) every year. Prices are up year-over-year.
@@ChrisOConnellMortgage Dec 2013-July 2013 slope was positive, Dec 2014-July 2014 slope was positive, Dec 2015-July 2015 slope was positive. In fact this is the first time that the slope has been negative between December and March in the last decade. Can you guess what the last period was that the slope was negative between December and July? If you guessed during the crash between 2007 and 2012 then you'd be correct. But hey, I'm just reading the index you wanted me to read.
@@nitroneonicman thanks for that detail. Are we also in the same situation now as in previous years, including the great recession? I would say no. Point being, if you want to wait for a housing crash, you'll just have to keep waiting.
Have we become so incompetent as a nation that we can't solve such a basic problem?
I hope not!
80's rates went to 21%. Adjustable rate loans introduced.
You should look at the housing market in Orlando...it's literally crashing right now. but obvi a mortgage loan officer doesn't have any personally vested interest in people getting mortgages.
Real estate is hyper local and obvi there's some volatile areas in FL, CA, TX, etc but national averages like Cash Shiller home price index will not show any dramatic drop in prices
@@ChrisOConnellMortgage Cash Shiller has a negative slope greater than 1 for the last five months. I feel like next you're going to try to tell me that the Cash Shiller home price index didn't drop that dramatically between 2006 and 2012.
@@nitroneonicman Yeah it usually does, going from the high point (June) of the year to the low point (January) every year. Prices are up year-over-year.
@@ChrisOConnellMortgage Dec 2013-July 2013 slope was positive, Dec 2014-July 2014 slope was positive, Dec 2015-July 2015 slope was positive. In fact this is the first time that the slope has been negative between December and March in the last decade. Can you guess what the last period was that the slope was negative between December and July? If you guessed during the crash between 2007 and 2012 then you'd be correct. But hey, I'm just reading the index you wanted me to read.
@@nitroneonicman thanks for that detail. Are we also in the same situation now as in previous years, including the great recession? I would say no. Point being, if you want to wait for a housing crash, you'll just have to keep waiting.
Banks are defunct.
Not quite
AI could absolutely cause mass unemployment within 5-10 years.
Or it could create a bunch of new jobs
You'll own nothing including oneself. Crash or takeover?