How wallstreet and other huge companies are creating a housing bubble

[Radu97]

Hey guys!  What do you think about this video? What consequences will we suffer because of this like a housing crisis?

Edited June 22, 2021 by Radu97

[Heart of Space]

The housing market is a lot more healthy than it used to be.  

The real story that everyone should be talking about right now is the auto industry.  In a single year, you have a 133% increase in average car prices.  In the case of pick up trucks you have an 150% increase.  

This is because of predatory financing practices and low interest rates.  Also, there is a chip shortage which constrains car manufacturer supply which won't be back to normal till potentially 2023.  

This is outrageous.  

Even if you are rich I beg you to not buy new cars from dealerships.  Boycott the auto industry.  By old beater cars from a grandma.  Fuck the auto industry, fuck their greed.  Let them burn.  Ok, maybe not because I don't want people in the industry to lose their jobs.  I also don't want an economic collapse.  I just want more social responsibility and honest business practices.  

Edited June 23, 2021 by Heart of Space

[Heart of Space]

Check out these sources:  

https://publish.manheim.com/en/services/consulting/used-vehicle-value-index.html

https://www.cargurus.com/Cars/price-trends/

[Heart of Space]

https://www.fhfa.gov/AboutUs/Reports/ReportDocuments/2021Q1_HPI.pdf

This is in depth analysis and pricing data for housing.  Yea, I'm pretty economically saavy and I can't really make a solid prediction on what the future holds.  It's such a strange environment.  I'm hoping for a market correction for the prices of housing and automobiles, but I won't hold my breath.  I'm almost certain that there has to be a correction, but how big will that correction be?  I don't know.  

Man, if you have kids it might be a good time to start getting nervous about their financial security.  Like take this shit seriously, you are going to want to be a personal finance expert to live a solid middle class to upper middle class lifestyle and also properly save for your retirement.  That is, unless there is a drastic change to the system.  

I hate to be a doomer, but economically speaking this stuff is not good for normal people.