Could we be experiencing the last inflating heating up of the market?
Could we be experiencing the last bubble, the last inflating heating up of the market before the whole, the whole thing changes for lack of better words, you could say like mass destruction and chaos probably won't be that, but like, think about this. So there's a guy named Nouriel Roubini. He's a very well known economist and in the financial sectors, he's known as dr. Doom and for good reason, he was one of the earliest whistleblowers of the last housing market crash. You see, dr. Doom said back in 2005, that this whole thing was coming down while the party was in full swing. He made that prediction. What is really interesting as dr. Doom is now saying that we're now in the start of a 10 year depression, that's coming up and there's some very interesting factors that we're running up against that you cannot ignore. Okay.
So, so here's some things to understand right now I saw a statistic that some 80% of the U S is in some form of regression to reopening. That means they're going backwards based on the data. Okay. So couple that with there's now almost 10% of delinquency rates in housing mortgages. So mortgage repayments, um, in the, in the range of 10% off and repayment, which we know a lot of that is forbearance, which is a granted forgiveness of time where you're not paying your payments, get this. This is even more concerning 30% of tenants last month did not make a full payment on their rent. That is troubling. Okay. So those are the underlying conditions at the same time in housing right now you have some other things that are causing building delays. The resale market becomes the last fashion to buy a house. Rates are low houses are being bought up faster than it can go to the market.
Okay. I'm not going to bring all this to a conclusion here, but think about where the market's heading from this point. Okay. Where is it going? Like what, what happens happens when the economic subsidies that have been posted by the government run out? Okay. What happens to, um, people that then have to make their mortgage payment? What happens to tenants who, uh, don't have, uh, the government and blocking eviction?
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