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A report published in early Oct. 2024 claimed six major housing markets will collapse in 2025.
Dallas, Texas, is apparently high on the list of potential real estate crises, according to experts cited by GO Banking Rates (GOBR). “In Dallas, affordability is becoming a serious concern,” VA Loan Network founder Levi Rodgers stated. “High home prices, paired with the current high rates, are leading to fewer buyers in the market. This could result in a price correction over the next 12 months.”
GOBR claimed prices in Dallas are already dropping. This means many homeowners may be stuck in overpriced properties with expensive mortgages, unable to sell or refinance. Similar issues are occurring San Antonio and Austin, Texas. Phoenix, Arizona, Boise, Idaho, and parts of California, Florida, and Washington are also expected to fall. (TAKE A POLL: Is It Important For The Government To Prioritize National Security Over Individual Privacy?)
Government Bailout Real Estate Industry?
Some say that current housing market bubble is built almost exclusively on fraud, per Strong Towns. “Prices are artificially high due primarily to the downstream effects of financialization. Localized supply and demand dynamics — which today are also downstream of financialization — are a mess. Decades of housing subsidies, down payment assistance, artificially low interest rates, money printing and endless bank support have turned the American home into a financial product first and a place of shelter second,” writes Charles Marohn. (TAKE A POLL: Do You Believe the Current Tax System is Fair?)
The obviousness of the impending crash appeared as early as 2016. “Developers found ways to obscure the amount of debt they were holding, with the help of bankers and lawyers. Buyers who suspected the property markets were overbuilt bought more anyway. American and foreign investors seeking juicy returns flooded developers with funding,” he cited from a Wall Street Journal article. “The cheerleaders were operating on a seemingly bulletproof assumption that America’s government would never allow the market to crash. American people had invested the majority of their wealth in housing. Letting the market tumble could wipe out much of the population’s savings—and erode confidence in the Communist Party.” The article was originally written about China, but Marohn changed it to “America” to prove his point.
We’re about to crash. Should the government — ie: you, with your taxes — bailout the real estate and other mismanaged industries?
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