Major housing crash coming this winter or sooner

[Sparko]

If the market survived the loony tunes Trump administration, pretty hard to be chicken little

[Walrus]

There was a small boost yesterday in the markets, but they have since again started selling off. The boost was because of the stimulus bill, which may help in the short term, but will not prevent the crash that is coming.

[PhDhawk]

There was a small boost yesterday in the markets, but they have since again started selling off. The boost was because of the stimulus bill, which may help in the short term, but will not prevent the crash that is coming.

It dropped less than 1%.

That's less than the Covid19 death rate that you think is no big deal.

[Walrus]

"China’s top banking regulator said he’s “very worried” about risks emerging from bubbles in global financial markets and the nation’s property sector, sparking fresh concerns about further tightening in the world’s second-biggest economy. Stocks dropped across Asia."

https://www.bloomberg.com/news/articles ... gn-markets

[twocoach]

"China’s top banking regulator said he’s “very worried” about risks emerging from bubbles in global financial markets and the nation’s property sector, sparking fresh concerns about further tightening in the world’s second-biggest economy. Stocks dropped across Asia."

https://www.bloomberg.com/news/articles ... gn-markets

China was also worried about their housing bubble in 2018: https://www.bloomberg.com/opinion/artic ... ing-bubble

and 2016: https://fortune.com/2016/11/02/china-housing-bubble/

and 2014: https://www.washingtonpost.com/news/won ... e-popping/

and 2010, hey, there's one: https://money.cnn.com/2010/04/15/news/e ... na_bubble/

If you put "China worried about housing bubble" and then literally ANY year after it into a google search, you will get a similar story. Some people worry, it's their thing.

[japhy]

I was working several years ago on a project that was going to be the "tallest monument in the world", it was big, 800 feet tall. The lead designer for the project had some big money donors lined up and a prominent piece of dirt to put it on. They needed structural engineering, a huge steel fabricator/erector and a skin fabricator to help put together a cost estimate. The thing is so big there is only one crane in the world that could do the erection and it required a 2 year advance notice to rent, it would come in from Holland. By the second meeting of all of the stakeholders we had a good start on prelimininary design of the frame and had been talking to the fabricator/erector about weights and sizes. We had preliminary thoughts on the erection process and cost of skinning the thing in stainless steel.

The designer wanted to know if we had any rough guesses as to the cost at this point. We all weighed in at somewhere between $350M-450M range. The designer was stunned. He was thinking more like $60M, he had floated that number to donors. We were all stunned, how did you get to that number?

He read an article in an international construction magazine about a similarly shaped project in China built by the government but it was half as tall. The Chinese stated the cost was $20M, so he figured that 3X that number would be in the range. We all sort of chuckled; that number is propaganda, nothing China claims for costs in construction are real numbers.

When we finished the exercise the cost was about $400M. And we started looking at a 600 foot tall alternative version.

But yes, definitely look to China for financial information. Their word is good as gold. Just ask Hong Kong.

[ousdahl]

I could listen to Japhy talk about erections all day.

[Deleted User 89]

ew

[Walrus]

10 year yield continues to rise... very concerning. Nasdaq down 316.

[Deleted User 89]

i’m loosing sleep over it

[Deleted User 289]

10 year yield continues to rise... very concerning. Nasdaq down 316.

"Vert concerning" or not, I assume you realize there are people who are happy and benefit from the 10 year yield rising and the NASDAQ having a down day.
It's sunny in Chicago today. It's supposed to be sunny again tomorrow.
Next week starting on Wednesday it's supposed to rain and/or snow for 6 consecutive days.
I have been alive for 19849 days. Some days have been warm, some have been cold. Some days the markets have been up, some days they have been down.
One thing the weather and the market/s have in common, they change.
You want to be concerned on a daily basis, have at it. You have different reasons than I have. I'm sure your's are legitimate - to you.
I just don't expect others to share my same concerns with me.
Nor do I feel you should either but you continue to be you - and I'll continue to be me.
I shouldn't speak for others but my guess is most on here aren't overly concerned with how the markets affect you nor do they need (or even want) your investment advice.

[Walrus]

It's not the daily loss that concerns me, it's the cracks in the fake system that are starting to show. As someone else put it, it's like the Fed has backed themselves into a corner where they are playing whack a mole, but regardless of what they try to do, it's going to fail. I'm not giving investment advice to anyone on here, I just give my opinions and people can decide to consider them or not. Just consider the fact that our Fed cannot raise rates without the entire market crashing or they can print into infinity and destroy the dollar.

[defixione]

The dollar has been destroyed numerous times over my lifetime. There's nuance in there if you can find it.

[Walrus]

Dow down another 400 so far, we'll see if this continues...

[Deleted User 89]

[Cascadia]

Well, this will be a fun new trend. Dumbfuck is going to make a post every time the market has a down day and disappear when it has a positive day.

Yay!

[Deleted User 89]

he’s special

[Walrus]

Down 569 now...

[Deleted User 89]

sweet!!

[Deleted User 89]

Down 569 now...

you realize nobody here cares, right?