This year is looking rough for the holidays

[SaiJin]

Originally Posted by james13v

do you know why 2008 happened? overvalued homes. mortgages and HELOC's to people, with zero income verification or credit score. 100-120% loans, and balloon mortgages. So when housing prices started dropping, and interest rates went up, and people had no actual liquid capital, boom. Foreclosure city. I was in the industry. I tried to convince people to pay off their damn debts. But no, they bought new trucks and went on vacation. The only thing like that that we have now, are auto loans. So I don't really see 2008 happening again just yet. We still have time and chance.

What is the catalyst for 2022 you think?
We did also have an overbloated housing market this year and it looks like prices are starting to drop?

[agent006140]

Home buyers are cancelling their orders left and right,retail stores have cancelled billions of orders from suppliers,layoffs are mostly office workers,finance,IT,personnel,communications workers.
Auto,medical,homeowner insurance permiums have gone up,ditto with food prices .
Biden is releasing 1 million barrels of oil per day from strategic reserve..
If this is not enough,stock market is tanking so dont get your hope up too high this Xmas

[murdered_by_ebay]

the system was propped up with new debt after 2007 that is why it did not collapse back then. now they can not do it anymore , real estate is not decisive here , there is a lot of debt everywhere

[rsot]

Originally Posted by agent006140

Home buyers are cancelling their orders left and right,retail stores have cancelled billions of orders from suppliers,layoffs are mostly office workers,finance,IT,personnel,communications workers.
Auto,medical,homeowner insurance permiums have gone up,ditto with food prices .
Biden is releasing 1 million barrels of oil per day from strategic reserve..
If this is not enough,stock market is tanking so dont get your hope up too high this Xmas

How are you coping agent006140?