The Gen Y housing boom never materialized. Yet hope and delusion springs eternal in the real estate cheerleaders’ hearts, if not minds. There is always the next generation.
Gen Z to the Housing Recovery Rescue!
Poll: Kids today are willing to give up video games to become homeowners and will use real estate agents to help them find their homes.
0:00 -2:35 Introduction
New Poll Commissioned By Real Estate Broker Better Homes and Gardens Finds 89% Teens Aged 13-17 Believe Home Ownership is Essential To the American Dream; 59% would use a real estate agent to help them find their home instead of searching for their home online.
Homeownership ranked higher among 13-17 year olds than graduating college, getting married, having children and having enough money to support themselves.
“Single-family home sales rose 2.0 percent to a seasonally adjusted annual rate of 4.56 million in September from 4.47 million in August, but remain 1.9 percent below the 4.65 million pace a year ago. The median existing single-family home price was $210,300 in September, up 5.9 percent from September 2013.”
The difficulties of getting a mortgage are discussed.
The Hypocrisy of Warren Buffet and Central Banks on Wealth Inequality
21:24-23:25 the hypocrisy of central planners and their direct recipients of wealth are discussed. Yellen imitation and a joke.
13-17 Year Home Owners (Reprise)
23:25-24:25 The topic of pre adolescent homeowners comes up again. Kids have nothing to worry about except buying a home and using a Realtor to help make the purchase.
Stock Market Up- Bubbles Forming Labor Market Health Touted
24:45-26:35 Things haven’t been this good in 14 years!!
Fewer Americans filed applications for unemployment benefits over the past month than at any time in 14 years: http://t.co/8ggw5j8aL7
— Bloomberg News (@BloombergNews) October 23, 2014
The jobless claims are low because there are fewer people left in the labor force so there are fewer people left to fire. More part time jobs are touted as labor market strength.
26:35-28:30 Discussion of the latest inflation numbers. The new deflation threat is discussed. The myth that consumers will stop spending is discussed. HOWEVER the recent survey of 13-17 year olds bears out the theory as they say they will forgo many things in order to buy a house. What if adults do the same? This would have a devastating impact on the economy.
State Controlled Capitalism vs. Free Market Communism.
Fed Presidents and QE4
28:30-32:45 discussion why the Fed tapered QE (to appear “prudent”) and will start QE again – Ebola/Obola. QE supports the one pillar holding up the economic recovery- the stock market. Stock prices can always be boosted higher. Housing prices can only go as high as incomes and mortgage lending will take them. China and Russia are trying to wean themselves off the dollar.
QE appears to be a permanent program at the Federal Reserve. The Fed has been back stopping the stock market since 1987.
The Fed & Stock Market are Married Fed cant just stop giving the mkt QE even if they stop, they'll owe more in alimony #gold#silver#QE4
New Potential Federal Programs for 13-17 Year Olds
32:45- 36:00 discussion of potential programs/initiatives that could be instituted:
◾ Fed funds for 13-17 year olds to buy homes (with a Realtor);
◾ Fed purchase of millennial student loan debt; and
◾ lower the voting age to 13.
Gold and Silver vs. Paper Assets
36:00 -40:45 why people buy paper assets vs gold and silver. Stocks don’t always rise. Companies didn’t go public twenty five years ago that didn’t have a few years of profit. Monetary policy reflects the price of the stock market not the underlying fundamentals of the companies in the indexes.
40:45-42:45 – The hardships at companies like Sears that service the middle class and not at companies that service the rich, like Tiffanies, are discussed. Rising health insurance premiums are included in consumer spending and GDP which gives a false impression of the health of consumer spending.
42:45- 46:13 why the Supreme Court ruled Obama Care Constitutional. How Obama care only works if people are forced to buy insurance is discussed.
The Economic Saviors- 13-17 Year Olds – How to Produce Children Who Value Home Ownership
46:13-51:51 Because 13-17 years have their priorities straight re home ownership and using real estate agents, the key to future economic growth lies with them – our last best hope. Thank A Realtor.
Prenatal and pre conception methods to create home buying children are discussed.
Discussion of comedy.
51:50-55:15 discussion of how the Fed will always fight deflation. Every time QE ends the stock market drops. This time the stock market dropped before QE ended, so St. Louis Fed President James Bullard started talking about more QE. Predictions for the next FOMC meeting are discussed. Stopping QE sends a sign of confidence re the economy prior to the November elections. After the elections they can start talking and eventually launch QE4.
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