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SignUp Now!I’m in the bedding business and I echo all that you said regarding housing. We are in a bedding recession for sure as business is way off in all markets.Way behind but wanted to post some info -
I've been getting reports from lots of my friends in the mortgage business - every C-Suite in the industry is worried as the usual "Summer Sweepstakes" of activity where the majority of revenue is produced from starting in late March/Early April until late August/Mid September is not happening.
Remember that housing is a huge driver of the economy for every $ spent there is a 5X multiplier effect. And if people aren't buying those homes it shows up in mortgage origination numbers.
What I'm telling you most ITT already know - don't believe this admin's and the MSM hype that the economy is robust.
It takes a little bit for the above to work its' way thru the economy, though in my opinion layoffs are coming.
When homes don't sell people build less so the trades electricians/plumbers/etc then they have layoffs those people are not going out to eat/downsizing/not making purchases and that leads to restaurant/hotel layoffs which lead to accounting firm layoffs etc.
Home prices are being reduced in many markets, office buildings and now multi-family apartments are going into foreclosure even in places like Dallas.
Insurance cost are about to devastate Florida/Texas/California.
Hopefully I'm wrong though I think the balloon is about to pop, if not at least a huge correction.
The Fed is stuck if they go back to QE then inflation spikes. To solve that they have to raise rates and then refi all that short-term (less than 4 years) government debt at much higher rates - this will effect as it already has commercial real estate. It that crashes it will carryover to residential.
I've said it before that biggest mistake made in our lives was the 2008 financial crisis and creating the term Too Big Too Fail - that was bullshit they should have let the chips fall and the business cycle do it's normal thing.
That was followed up by a Trillion Dollar travesty of bullshit by Obama.
Remember "Cash for Clunkers" and how that brought forward all the car purchases into a shortened time frame - basically robbing future sales to sell today.
That's what we've done with stupidly low rates that went on way too long in the mortgage world.
We robbed future normal sales and piled it all into a 2 year buying spree. Because of a fake pandemic.
All those 2-3% rates are now going to be painfully felt.
Nothing is "free" you eventually have to pay the piper.
We have fucked ourselves royally.
BTW I feel the same thing for the stock market low rates created a lot of paper wealth. You have had literally 4-5 companies driving this thing higher. And those seem to be rolling over the last few days.
Unfortunately the only way out is for the government to inflate away their debt because none of those greedy-fucking pigs have the balls to cut spending.
Ok
Rant Over
WWG1WGA
Just talked with a buddy in Charleston and they have about a 6 week inventory and at the beach we are at about 4 months.I’m in the bedding business and I echo all that you said regarding housing. We are in a bedding recession for sure as business is way off in all markets.
Is this good? Bad? Average? Interested as we have a few commercial properties down that way. Skol!Just talked with a buddy in Charleston and they have about a 6 week inventory and at the beach we are at about 4 months.
Average or healthy is about 6 months.Is this good? Bad? Average? Interested as we have a few commercial properties down that way. Skol!
Wow... Judge Cannon now assigned election case against Mayorkas
It's a coordinated distraction to have everyone focus on the presidential race while they steal the Congressional, state and local races.While the MSM and Rig Tech are in full spin mode for KAHmullah, it's not sustainable...she is what we all know she is and only more people will realize that. This will end up being a giant "Show the people" before it's all over.
Kansas suing Pfizer will be met with "we have immunity" defenses. However, as @Jayhox has said, "Ffaud vitiates everything". Misleading statements are fraudulent statements.
See the back of his shirt? His hair color is much lighter. Wears glasses. Little chin hair.
Compare it to these photos. No glasses. More chin hair. Darker shirt despite blood.
No Rockefeller, Rothschild descendants...list is invalid.View attachment 220237
None of the Americans are nationally elected, who is running our country. rhetorical question
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"Former Vice President Mike Pence is set to receive nearly $720,000 in public funds to help pay for his recent six-month presidential primary run, a number that could grow if his campaign requests more money."
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So many demonrat women are side chicks or married to someone who sleeps with side chicks.View attachment 220258
Imane Khelif Wins First-Ever Gold Medal In Freestyle Domestic Violence
PARIS — Algerian boxer Imane Khelif made history this week by becoming the first-ever Olympian to win the gold medal in the new Freestyle Domestic Violence event.babylonbee.com
With the cost of necessities rising, like food, utilities, gas, etc, the average family doesn't have extra money to purchase 'wants'. Most people are going through their savings now or building up credit card debt to fill the gap just to meet their needs. I don't see this ending anytime soon either.I’m in the bedding business and I echo all that you said regarding housing. We are in a bedding recession for sure as business is way off in all markets.