Josh Sigurdson talks with author and economic analyst John Sneisen about the very real potential of a continued massive crash of the housing market in the immediate future.
James Stack, a money manager from Montana who correctly predicted the 2008 crash as well as the 2018 “slowdown” is saying that the worst is yet to come. He detailed why the housing markets throughout the United States were in grave danger.
Now it’s easy to make these predictions if we are entirely honest. This has happened before and it will happen again. The bankrupt banks with their collateralized debt obligations, mortgage backed securities, credit default swaps, subprime lending and other manipulative, debt ridden tactics always come to their inevitable end.
For years in many places throughout the United States, Canada, Australia, Germany and elsewhere in the world, we’ve seen highly overvalued local housing markets and it appears as though it’s coming to an end.
With a mass exodus from California and New Jersey, two places with highly inflated bubbles. With Vancouver and Toronto finally seeing the rips in the seams. With the everything bubble popping world wide from pensions, student loans, auto loans, housing bubbles, loss of faith in currency, the crazy derivatives bubbles and stock market slowdowns, this had to happen eventually and it’s crucial that individuals prepare themselves for what’s to come.
This isn’t the end of the world if people know what they’re doing. If you understand money, you won’t be controlled by it. This is why we encourage self sustainability, financial responsibility, independence and decentralization. There are more solutions than there are problems at the end of the day.
Stay tuned as we continue to cover this issue closely.