Trump voters loved using COVID as cover for his absolutely abysmal economic performance. What will they scurry under this time?
"Morgan Stanley just issued a report on the housing market that should have everybody terrified. As an investment firm, Morgan Stanley does reports on all kinds of things. Companies, markets, economy, currency. But they just said that we are under a greater housing reset than 2,008 people. The market is down over 50%. And all the people that overpaid during the pandemic are about to be in a lot of trouble because a lot of the foreclosure protections that were given to us under the Biden administration have been revoked by the current admin. And the boomers that own their homes, they have nobody to sell to besides private equity or some corporation, which is not paying retail pricing. Private equity isn't knocking on anybody's door saying, how much would you like for your house? I'll pay 10 grand over that. The fact that we're about to go through a worse housing crisis than 2008 should have everybody puckered up. Your cheeks should be pinched so tightly right now that you can't get water up there. Because if you think this economy is bad now, I invite you to go back from like 2002 to 2009. It was bad people, and it's about to get a whole lot worse."
💬 Discussion
Trump voters loved using COVID as cover for his absolutely abysmal economic performance. What will they scurry under this time?