Mortgage applications are down even with falling rates, Senator Fetterman is concerned about the border, home insurance rates are headed up, and one person just went 100% on Bitcoin.
Home Buying Search Index
Mortgage Rates
Fetterman on the Border
Progressives are increasingly annoyed at Fetterman.
Social Media
Home Insurance Rate Hikes
Illinois Exodus
Will the SEC Reject the Bitcoin ETF again?
Crypto Tax Reporting
Cramer Alert!
This guy is one of the biggest contrarian indicators ever.
100% On Bitcoin!
Am I the only one who thinks this is crazy?
Came across this point from a Daily Caller article.
The federal government is poised to spend $6,418,000,000,000 this year or $204,000 per second! Given that the speed of light is 186,000 miles per second, the federal government is literally spending faster than the speed of light!
Damn!
Fortunately the speed of light is 299,792 km/second, so they have lots of room yet. 😉
The prior record-low mortgage rates have injected significant immobility into the housing market, as shown by weakening home sales.
Someone with a 3% or 4% loan will be quite reluctant to move to another place, and a drop from 7% or 8% to 6% won’t do the trick. Therefore, people swapping houses are increasingly those with paid-off loans who can buy the next place with cash, or who have to move on account of job changes or other personal factors.
One spinoff effect is being seen at the big hardware stores like Home Depot snd Lowe’s, where results are weak. I haven’t looked at the appliance, furnishings, and furniture makers and other retailers of that stuff (carets, fixtures, custom closets among others), but I would expect them to be feeling the heat. The reason is that when people move, the first thing they do is renovate in various ways.
I wonder about coming layoffs in those spinoff sectors, and what the lag times are. We shall see.
The uh-oh moment in housing is starting. The idea that lowering mortgage rates automatically stimulate home buying no longer works. Maybe an even greater epiphany will take place that lowering interest rates by the Fed might not stimulate the economy this time.
I hate agreeing with Cramer but he’s right: guns, drugs, bribes, crazy debts and more. Bitcoin has the advantage that no government can eliminate it or debauch it.
Yes, they can’t elimate it, but they can tax it to death and make redemption into fiat illegal so that no business or bank will touch it. And what happens when some better crypto comes along? What does it become then?
It’s been 15 years since bitcoin came on the scene and it hasn’t achieved its stated purpose (an alternative decentralized currency) yet. Could it? Sure, but I’m not holding my breath on that bet.
This just seems like a bad design. Basically bolts came loose. It is a plane that doesn’t have a real door but just a cutout that is refastened. I don’t see how these planes are even usable.
https://www.seattletimes.com/business/boeing-aerospace/boeing-737-max-9s-grounded-after-alaska-airlines-in-flight-blowout/
the rivets let go….i bet they are sourced from a shithole cuntree
I am not worried about Fetterman. It will do the Democrats good if their policies were a little more reality based. We need at least one party that has a firm grasp on reality. Right now they are both crazy in different ways.
A 20% increase by State Farm won’t be so bad. They increased my homeowner’s insurance 50% two years ago and 10% last year.
I definitely wouldn’t go all Bitcoin. Average blockchain transaction fee was $19 last week. So if you bought a gallon of milk with Bitcoin add $19 on top of the cost of the milk.
i’m 100% all-in on Beans and Rice
I call BS on that BTC bell end… we all know it’s not money, because they value it in an actual currency that is money, i.e.: USD; never mind that you can’t buy food and pay bills with it directly. Given, it’s more portable than gold, but too trackable. XMR has a better chance, because it does something useful that the governments despise.
Meanwhile, just received notice from our local government that our home here in Maryland has a a re-assessed value! New value is 42% higher than it was last year! Here come higher property taxes! Your home – it’s your best investment!? https://www.baltimoresun.com/2023/12/29/property-assessments-in-maryland-jump-more-than-23-continuing-yearslong-upward-trend/#:~:text=Property%20tax%20assessments%20in%20Maryland,tax%20bills%20for%20many%20owners.
That’s what happened to me last year. Rate stayed the same so tax was up 40%.
So WHAT exactly are you complaining about ? Here in lousy Belgium one has to pay 30% on coupons and divs. Fckn landlords pay zilch on the rents income, nor on the increased value of their property! NOT FAIR at all , if you ask me! EVERYONE s got to contribute to keep the Ponzi scheme afloat, and so should you ..and of course, fckn Belgian landlords, in the first place!
You should rent your house to yourself.
Assessed home values are overpriced because the city needs the increased tax revenue. The city’s assessed valuation for 2024 is ‘estimated’ based on extrapolating the rise in home prices during the 2020-21 pandemic. A period when home values increased per year faster than average yearly salaries. Homes actually sold in 2023 were priced 15-20 percent less than the city’s price accelerator estimated for these homes 2024 valuation.
AIG, who would write just about anything in the good old days of Uncle Hank, beat State Farm out the door in Komiefornia homeowners-
https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/aig-to-exit-california-homeowners-insurance-market-at-january-end-68512476#:~:text=American%20International%20Group%20Inc.%20has,31.
Thanks for the link. Did you read the article (from 2022)?
AIG just changed which units they used for sales. The unit with less flexibility to raise rates was discontinued.
“ According to The Wall Street Journal, AIG will still provide homeowners coverage in the Golden State through the surplus line companies.”
Thanks, sorry I didn’t mention Surplus Lines = free (unregulated)forms and (unregulated) rates. Those darn exclusions and increases!
My homeowners renewed today, Safeco raised the premium from $750/year to $1050 I got a quote from Progressive for $550. This is for a 1.0M home in the PNW fortunately it’s only 2 years old and on an island with virtually no property crime.
Progressive will get ya next bill.
Ding ding…..there’s always an introductory rate.
My parents tried doing the home insurance merry go round until they ran out of companies.
It isn’t about property crime. Insurance rates are about climate change and portfolio risk.
My building’s (3 units) insurance last summer went from $1800 to $2500 a year, a 39% increase. I assume it was to rebuild all those McMansions along the Florida coast that had to be rebuilt after the hurricanes … also, those interest rates are going back to zero after November. You cant continue to take this country private unless hundreds of billions more free money are provided to the private equity people. They wont stop till they own every single house and share of stock ….
Cramer!!!
That’s it, it’s the end of BTC.
Regarding Homeowners Insurance:
The top 5 most expensive states are: Oklahoma, Kansas, Nebraska, Arkansas, and Texas.
The least expensive are Hawaii and California.
https://www.insurance.com/home-and-renters-insurance/home-insurance-basics/average-homeowners-insurance-rates-by-state#:~:text=The%20average%20cost%20of%20homeowners,rates%2C%20averaging%20%24582%20a%20year.
Any indicators as to why so high in those five states?
The article I referenced said the cost of “severe storms” is the main reason.
The states with the highest rates mentioned above are smack in the middle of “tornado alley”.
I would not think tornados are as damaging( scale wise) as hurricanes in the east or fires out west. I could be wrong though.
The US averages just 1-2 hurricanes making landfall each year. And over 1200 tornadoes. So, probably a lot more damage in total from tornadoes.
In addition, there are plenty of other
“severe storms” that are not tornadoes. Like extreme rainfall and flooding or wind storms. Or droughts and severe fires.
Hail damage is another cause too.
Percentage of the population that are dangerous morons?
It’s an indicator of a real estate bubble in those five places since replacement costs are a big factor in premiums. Louisiana has a lot more hurricanes than Texas, for example, but on hurricane in Texas can cause more $$$ damage than three in Louisiana.
P dave there has to be a catch. I wonder in ca if fire ins is separate. Whats the saying about lies dam lies .
Yes. Statistics can be misleading.
But what’s worse, is speculation without any data at all.
Rather than speculate, why don’t you actually look into it and then get back to us with some hard facts?
Haha read the article. Hoping you had in site.