This post original appeared on our buisness Facebook page on September 17, 2018.
What does the housing market have to do with plot of the movie "The Producers?"
One of the lies that was told during/after the housing crisis of 2008 is that "No one saw it coming!" However, some did, and warned the world loudly. Many in the financial markets knew and made billions. In the coming weeks we will look at the macro housing market, by looking back, and looking at lessons that we can learn. Now 10 years later, real estate professionals nationwide are warning that the lessons we learned in 2008 are being forgotten, and that the odds of another financial collapse are rising, and estimated by the majority by Q1 2020.
A number of great reporters have done an amazing job at presenting this information to the public over the past 10 years. We encourage you to take a listen/read/watch at this compilation of how the housing market of the United States brought the world to its knees, in hopes that we can avoid another collapse. When banks are allowed to bet against homeowners... its a recipe for disaster. With mortgage fraud on the rise and the legislation (Dodd Frank) that aimed to restrict this behavior targeted for repeal, you have to ask why?
A deep look at the 2008 crisis: https://www.thisamericanlife.org/405/inside-job
Looking at now and the future:
Two former Fed Chairmen predict a crash in 2020: https://www.forbes.com/…/4-financial-savants-warn-about-t…/…
Mortgage fraud on the rise:
https://www.housingwire.com/…/46820-corelogic-mortgage-frau…
Promises of Dodd Frank repeal continue: https://www.cnbc.com/…/trump-signs-bank-bill-rolling-back-s…