30-year mortgage rates are near 8% with excellent credit. Interest rates have climbed for the past three months straight. The Fed is considering another interest rate increase for November and December, possibly pushing rates up to 8.5% or even 9%. The reasoning is that higher interest rates will "slow down inflation".
Home sales are at a 13-year low. Factor in the higher cost of insurance and the fact that property taxes are going up to unaffordable levels and the very high cost of labor and materials for home construction... and you have a real estate market that's going to crater.
I personally know several homeowners that had their homes listed for sale, but have removed them from the market in the past 2 months. They will wait and hold on to what they have for now. One real estate agent mentioned to a couple that they should keep their house off the market until at least middle of next year and then decide based on market conditions.
I'm suggesting that the U.S. economy is a three legged stool... and one of those legs is housing and private & commercial real estate. If it fails, the economy goes into a deep recession at best.
There is a third aspect that is actually the REAL problem.
That is: the current system allows a private business (Federal Reserve System) to not only print money out of nothing (fiat) and use fractional banking (another form of fiat), but also CHARGE INTEREST ON THE MONEY CREATED.
THAT is the primary problem. If the other 2 things were done responsibly (which they never are), we could deal with them, but the charging of interest on top of it all makes it IMPOSSIBLE to ever pay it all back -- at least, not without selling every asset that exists, including humans.
During the Great Depression, we had massive economic misery, and we also had manipulation by the Federal Reserve via money printing.
BUT ... there was ONE country in the entire world that had it even worse than the USA did, and were able to emerge within just 5 years to become the most economically prosperous nation in the entire world.
Germany.
What Hitler did for Germany from 1933-1938 is still referred to (by those unafraid to tell the truth) an "economic miracle."
The blueprint is there. We just have to follow it: Dump private central banking, bring money printing under direct control of the government, no interest charged, among other policies.
https://www.bitchute.com/video/iEP3VtQ9ZTbR/
And we’re already selling humans daily.
Great description of how we got here MAG768720.