@crwiley1962 “Inventing the Flat Earth” is a great book that documents this. The Warfare model was developed by Neo-Darwinists to pit Christian theology against scientific enterprise. But it rested on lies like this. And then got accepted by higher education. https://t.co/lOLgc3vwYb
@crwiley1962 Are you familiar with the tale of how this particular Flat Earth canard came to be believed? It was a deliberate historical revision by Darwinists. It first appeared in the late 1800’s in books like “A History of the Warfare of Science with Theology in Christendom”.
@GRomePow 4) The fed remembers something us “younger families” seem to have forgotten: inflation sucks. And it’s a slow, decade-long burn. They’ve been maneuvering to avoid it for 40 years, but they couldn’t outmaneuver CARE act package. Everyone overreacted to COVID. Not Fed’s fault.
@GRomePow 3) The claim that “the fed affects rates to transfer wealth from young families to retirees” is counter exampled by the data you left out. The right end of your graph shows the same things as the 70’s-80’s: rates shooting up while housing prices shoot up… 🧵(2/)
Potential Buyers: “I’m waiting for the next real estate market correction.”
Me: “You realize this market IS the correction… right?”
Prices are high because of inflation. High housing prices are not going anywhere. Pay the piper now before prices and rates climb even higher…
@GRomePow@RDC_Economics The broad narrative I see confirmed over and over in the data is a 1980’s-style, inflation driven cycle. Which means transactions slow down, but prices continue climbing while rates soar. What patterns are you seeing that would say otherwise? Or is that what you mean by “broken”?
@GRomePow@RDC_Economics What’s your data for the lowered demand? When I look at the FRED’s months of inventory, the ratios look like the ‘80’s to me. We had a spike last year, but we are currently back down. I expect volatility, but not an ‘08 style catastrophe.
@GRomePow@RDC_Economics This is the other side to the story. Looking at absolute transaction numbers doesn’t tell you much without the corresponding new listings data. And new listings have tanked. Down 20-30% compared with 2018/2019. Which is why pricing has remained stable in most markets.
This is what people don’t get!!! Look at how low that pink line is!
Sure, days on market has increased since the COVID rate discounts. But 2018/2019 were the fastest years since the ‘08 crash.
So, the fact that we are currently FASTER than 2018/2019 means market is still hot.
The typical home spent 48 days on the market this September which is only one day longer than the same time last year, and homes spent two weeks less on the market this past month than they did in the average September from 2017 to 2019. https://t.co/tKyaWMOj3U
If interest rates go down next year, that will be BAD news for a lot of home buyers.
Compare with the ‘80’s. When interest rates went from 17% down to 14%, there were crazy multiple offers.
If interest rates decrease, be prepared to bring $15-20k cash above appraisal again.
Data is in. All of us making the call that 2020 housing spike was an inflation-driven event were spot on. Now housing tells future on inflation: everything under control.
Fed will hold interest rates steady this year. Home appreciation will be flat nationally but strong in OK!
[New Podcast] Fireworks, the Titanic, and Recent Oklahoma Home Sales | The Maven Show Ep. 11
Watch now, and let our Patriotic pep remind you to be proud to be an American!
Check the full episode out on our YT channel: https://t.co/KvA7msYBQc
Confused about the real estate market? Thinking about buying or selling a house? Rest easy, we’ve got a simple way to figure out the best next steps for your situation: https://t.co/yiyITegRde
#realestate#normanok#normanoklahoma#oklahoma#oklahomacity
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