The total size of the mortgages in the UK is a bit under $2 trillion, which sounds huge until you hear that $2.72 trillion originated in the USA in 2021 alone.
The Economist: U.S. Facing 'Perfect Storm' for 2008-Like Housing Crisis
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The total size of the mortgages in the UK is a bit under $2 trillion, which sounds huge until you hear that $2.72 trillion originated in the USA in 2021 alone.
cancel2 2022
Canceled
Bizarre ffs, you've never ever admitted any mistakes that's a fact. You rarely provide links either, everybody here knows that as a fact as well.
cancel2 2022
Canceled
Yes I'm aware of that, everything is bigger in the US including egos like yours. I wasn't talking about the total size rather the proportion of owner occupation.
The proportion of households occupied by the owners of the property in England from 2000 to 2020 generally decreased during this period, from a share of 70.6 percent of households in 2000 to a share of 64.9 percent of households in 2021. The number of owner occupied households amounted to about 15.5 million households in that year. The largest share of owner occupied households in England during the period under observation was in 2003, when a total of almost 71 percent of all households were recorded as owner occupied.
https://www.statista.com/statistics/286503/england-propportion-of-owner-occupied-households/
In the US owner occupation is just over 60%.
https://www.thezebra.com/resources/...age of homes are,60.6% of all household units.
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What I was talking about is the effect of mortgages on the economy, and I was right.
BidenPresident
Verified User
Jesus saw it too.
Jesus expelled the merchants and the money changers from the Temple.
BidenPresident
Verified User
Friday comes after Thursday.
moon
Satire for Sanity
Again- Interest rate hikes will make mortgage payments impossible for many.
gemini104104
Verified User
As a result of being a tRump ass kissing sucker, consider the following details, if you will, as a result of the rot his lawlessly hacked in influence had on the global economy:
The economy slowed under Trump; his inept pandemic response ensured its collapse
In pre-pandemic times, President Trump
Trump’s first three years in office. Worse, following months of dire warnings, Trump’s failure to prepare the United States for a particularly deadly pandemic ushered in economic catastrophe.
Americans could be forgiven for buying into Trump’s bragging about the economy. After all, he consistently puffed up his chest – one hubristic Tweet at a time – portraying himself as an economic super-messiah. But the facts run counter to the mindless reality TV president’s incessant boasting: By virtually all objective measures, the economy performed worse during Trump’s first three years in office compared to Obama’s last three.
Let’s start with job growth. Before the pandemic decimated tens of millions of American jobs, Trump crowed ceaselessly about monthly job reports. But the numbers did not merit Trump’s flamboyant hullabaloo. Over one million more jobs were created during Obama’s last three years in office than in Trump’s first three. To top it off, job growth in every one of Obama’s last three years beats Trump’s best year by a significant margin. So much for Trump’s ostentatious bragging.
Similarly, a pre-pandemic Trump boasted nonstop about record-low unemployment.
Sorry, Donald. Time for another truth bomb: The unemployment rate declined at a steady clip after 2010, when Obama’s aggressive recovery measures saved the American economy from total collapse. Trump just happened to be the guy in charge when Obama’s decade-long trend reached its nadir. Indeed, a look at the unemployment rate over the last decade shows no notable change in the three years after Trump took ofBiden's Economic Performance Has Proved Unbeatable
No first-year president going back to Carter comes close to matching the current White House occupant’s No. 1 or No. 2 ranking in each of 10 key measures.
fice.
Ultimately, Trump had zero claim to the unemployment numbers he took credit for. An orangutan could have been elected in his stead and the unemployment rate would have hit the lows that it did before COVID-19 changed the world."
https://thehill.com/opinion/white-h...rump-his-inept-pandemic-response-ensured-its/
Additionally, never ever forget at dealing with the fallout of the lawlessly hacked in tRump mob and its disastrous effect on
the global economy:
Biden's Economic Performance Has Proved Unbeatable
No first-year president going back to Carter comes close to matching the current White House occupant’s No. 1 or No. 2 ranking in each of 10 key measures.
U.S. financial markets are outperforming the world by the biggest margin in the 21st century, and with good reason: America’s economy improved more in Joe Biden's first 12 months than any president during the past 50 years notwithstanding the contrary media narrative contributing to dour public opinion.
Exceptional returns from dollar-denominated assets, especially the S&P 500 Index in both absolute terms and relative to its global counterparts, can be attributed to record-low debt ratios enabling companies to reap the biggest profit margins since 1950. Corporate America is booming because the Biden administration's Covid-19 vaccination programs and $1.9 trillion American Rescue Plan reduced the jobless rate to 4.2% in November from 6.2% in February, continuing an unprecedented rate of decline during the Covid-19 pandemic."
https://www.bloomberg.com/opinion/a...-s-economic-performance-has-proved-unbeatable
The economy slowed under Trump; his inept pandemic response ensured its collapse
In pre-pandemic times, President Trump
Trump’s first three years in office. Worse, following months of dire warnings, Trump’s failure to prepare the United States for a particularly deadly pandemic ushered in economic catastrophe.
Americans could be forgiven for buying into Trump’s bragging about the economy. After all, he consistently puffed up his chest – one hubristic Tweet at a time – portraying himself as an economic super-messiah. But the facts run counter to the mindless reality TV president’s incessant boasting: By virtually all objective measures, the economy performed worse during Trump’s first three years in office compared to Obama’s last three.
Let’s start with job growth. Before the pandemic decimated tens of millions of American jobs, Trump crowed ceaselessly about monthly job reports. But the numbers did not merit Trump’s flamboyant hullabaloo. Over one million more jobs were created during Obama’s last three years in office than in Trump’s first three. To top it off, job growth in every one of Obama’s last three years beats Trump’s best year by a significant margin. So much for Trump’s ostentatious bragging.
Similarly, a pre-pandemic Trump boasted nonstop about record-low unemployment.
Sorry, Donald. Time for another truth bomb: The unemployment rate declined at a steady clip after 2010, when Obama’s aggressive recovery measures saved the American economy from total collapse. Trump just happened to be the guy in charge when Obama’s decade-long trend reached its nadir. Indeed, a look at the unemployment rate over the last decade shows no notable change in the three years after Trump took ofBiden's Economic Performance Has Proved Unbeatable
No first-year president going back to Carter comes close to matching the current White House occupant’s No. 1 or No. 2 ranking in each of 10 key measures.
fice.
Ultimately, Trump had zero claim to the unemployment numbers he took credit for. An orangutan could have been elected in his stead and the unemployment rate would have hit the lows that it did before COVID-19 changed the world."
https://thehill.com/opinion/white-h...rump-his-inept-pandemic-response-ensured-its/
Additionally, never ever forget at dealing with the fallout of the lawlessly hacked in tRump mob and its disastrous effect on
the global economy:
Biden's Economic Performance Has Proved Unbeatable
No first-year president going back to Carter comes close to matching the current White House occupant’s No. 1 or No. 2 ranking in each of 10 key measures.
U.S. financial markets are outperforming the world by the biggest margin in the 21st century, and with good reason: America’s economy improved more in Joe Biden's first 12 months than any president during the past 50 years notwithstanding the contrary media narrative contributing to dour public opinion.
Exceptional returns from dollar-denominated assets, especially the S&P 500 Index in both absolute terms and relative to its global counterparts, can be attributed to record-low debt ratios enabling companies to reap the biggest profit margins since 1950. Corporate America is booming because the Biden administration's Covid-19 vaccination programs and $1.9 trillion American Rescue Plan reduced the jobless rate to 4.2% in November from 6.2% in February, continuing an unprecedented rate of decline during the Covid-19 pandemic."
https://www.bloomberg.com/opinion/a...-s-economic-performance-has-proved-unbeatable
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cancel2 2022
Canceled
CU Next Tuesday
cancel2 2022
Canceled
.
There are already housing slumps in China, Korea and Canada. Contract signings for home purchases, or deals signed but not yet closed, fell 8.6% in June from a month ago, the National Association of Realtors reported yesterday. That was well above what economists were predicting, and a 20% drop from last year.
It was also the slowest pace since September 2011 — except for the first two months of the pandemic, notes CNBC.
Meanwhile, mortgage applications are at their lowest level of activity since February 2000.
https://www.axios.com/2022/07/28/housing-slowdown-mortgage-rates-jump
There are already housing slumps in China, Korea and Canada. Contract signings for home purchases, or deals signed but not yet closed, fell 8.6% in June from a month ago, the National Association of Realtors reported yesterday. That was well above what economists were predicting, and a 20% drop from last year.
It was also the slowest pace since September 2011 — except for the first two months of the pandemic, notes CNBC.
Meanwhile, mortgage applications are at their lowest level of activity since February 2000.
https://www.axios.com/2022/07/28/housing-slowdown-mortgage-rates-jump
PostmodernProphet
fully immersed in faith..
they've controlled congress for the last four years......where are the federal programs?......
PostmodernProphet
fully immersed in faith..
during the 2008 drop my son bought his first house on the foreclosure market for just over $50k.....that was about 50% of the mortgage that was on it before the foreclosure.......in 2015 he moved up and sold it for $125k.......
Not a bubble.
People live in their homes. So most aren't planning on leaving them anytime soon.
You don't buy real estate for the 'short run'. That's speculation.
Cliche fallacy.
Correct.
The government is already broke. Printing their way out of the mess they caused will not work. It will simply destroy the currency. People will abandon it and start using something else for currency.
City leaders, which caused the problem, aren't going to do that. Cities are also broke.
Correct.
This has been true for quite some time...long before now. There has been a serious lack of qualified equipment operators, concrete and foundation masons, carpenters, framers, roofers, plumbers, electricians, HVAC technicians, communications techs, etc....for decades now. This is why those who are skilled in these fields can make some serious cash.
There is no housing bubble, but there certainly is a crisis.
It's caused by Democrats.
They did. Apparently you weren't paying attention.
In areas where that was made illegal, people operating apartments simply converted them to condos or simply leveled the place and converted the property to another use.
I think is pretty obvious folks don't believe Biden's lies (other than the faithful).