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faithandsurvival.com » Economic Collapse, National Blog » But, my Realtor said it is a great time to buy!

But, my Realtor said it is a great time to buy!

CNBC.com - 1996

CNBC.com – 1996 (Photo credit: Wikipedia)

The American dream, a 3,000 square foot house nestled in the cul-de sac with a two car garage, dog, three kids, and a great job working for General Motors.  Ah, what could be better than waking up your king size bedroom, with the dual vanity’s big shower, and his and her closets. Coffee served by your wife at your built in coffee bar, and the children up early doing their chores.

Yes you to can have this fantasy everyday if you listen to any of your local realtors or mortgage brokers endless lies. Can I give you a hint, all of your “local hometown papers”, are funded by advertising from local realtors and mortgage brokers.  DO you think they will ever tell you the housing market is going to fall?

Wait a minute, lies what lies I have heard the following over the last few months.

“This housing market is so hot you have to get in it” CNBC

“The hosing market is roaring back to life” CNN

“In many states you can not get a house right now” Fox News

“We are in an economic recovery” Barrack Obama

Fair & Balanced graphic used in 2005

Fair & Balanced graphic used in 2005 (Photo credit: Wikipedia)

I could go on and on, about how one of the greatest lies in your lifetime has been playing out in front of your noses over the past year. The great lie of a tremendous rebound in the housing market from its 70% drop in one year. Yes that is right the average market price of a home in America dropped 70% in 2008. To date any true statistical information has shown a dead cat bounce of about a 12% TOTAL REBOUND over the past 5 years. not 12% annually, but over the past five years.  So for example in 2007 you thought you owned a million dollar home, in January 2009 you realized it was now only $300,000 in value, and have watched it craw back in value to $336,000 in value today. a loss of $664,000 but hey to those whom love swimming in the river of denial this is economic recovery.

YOU HAVE SEEN NOTHING YET!!!!!!!

As I have wrote extensively on we are entering BONDPLOSION!!!!!! Remember if you hear this term anywhere else it started with me. To define it: a rise in the 10 year treasury bond interest rate at a catastrophic speed producing an economic collapse to America.

As of today the interest rate has risen from 1.4% to 2.9% in six months, driving interest rates of mortgages for the few whom can get them from 3% fixed to over 6.5% fixed, and let me tell you heading to 8% in the next few weeks.

Not only will this rise in mortgages bring nightmares, but can you say DERIVATIVES! It is estimated one quadrillion, yes that is right, quadrillion, in interest rate derivatives is sitting out in the fairy tale world of investment banking. what happens to them if the interest rates rise, well of course people will try to sell them, to whom?

Deutsch: Detroit, Renaissance-Center

Deutsch: Detroit, Renaissance-Center (Photo credit: Wikipedia)

What does this mean for you the “homeowner”, (Psst, you don’t own anything if you have a trust deed attached to the title, but hey, I don’t want to completely destroy your American Fantasy). It means that your $336,000 property is about to become worth about $175,000 quickly. It means that foreclosures are set to explode, and your hopes of getting an, “an equity line to pay off your student loans” are going bye, bye.

But, my realtor said it is a great time to buy a house!!!!!

What do you think these poor people are going to tell you since they only get paid if they SELL HOUSES!!!

No more refinancing.

No more American Dream.

My advice, if you live in a house that you have a mortgage on, get out now if you can, rent.

My advice, if you own a house with no mortgage, great, get plenty of silver bullion so you can pay the huge rise in property taxes coming, making it next to impossible for them to steal your home.

My advice, if you rent, DON”T BUY, unless you have cash or bullion stored up, watch the bloodbath transpire, and if American has not turned into a nuclear waste zone, consider buying all cash transaction after the collapse.

But hey, whom am I to tell you what to do, all those experts out there must be smarter than me, just look at all the articles below.

 

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