A new housing market crash is likely to occur by massive corporate layoffs that have…
A new housing market crash is likely to occur by massive corporate layoffs that have hit record levels in recent months.
It was already clear that the US retail industry was in a recession for a long time. Walmart’s layoffs and announcement that it has cut its annual profit targets actually confirm this.
Apart from that, a lot of data confirms that American citizens are now spending less. Americans, three-quarters of whom live paycheck to paycheck, have little to do in the face of rising inflation and economic decline.
The waves began with tech layoffs and are now about to become a tsunami that will afflict millions of Americans, spreading across nearly all industries.
My experience with the causes of financial crises tells me that the basic start of foreclosures that lead to housing market crashes is when people lose their income, and we are in this scary process right now.
Moreover, these are white-collar workers and their salaries are higher. These are the people who buy stock and buy houses. But many of them are people who will soon be unable to pay their bills. And there are many more things that will trigger the housing market crash.
This bubble is size the history of the world has never seen before, is about to burst and it will be very painful.