San Francisco Housing Market Faces IMMINENT Bubble Burst! – What You Need To Know

Josh Sigurdson talks with author and economic analyst John Sneisen about the incredibly volatile and risky housing market in San Francisco.
Following a story out of San Francisco detailing a home selling for nearly 1 million dollars over asking price, we had to break this down. It’s absolutely insane.
In July 2007 coming up on the massive housing crisis in the United States, the Southern California Median home price was $505,000. By September 2017, it ALSO reach $505,000. Last time it had lost more than half of its value. It’s now cooling off and with vast amount of market manipulation in place, banks putting out CDOs and mortgage backed securities, the market looks unstable long term and risky to say the least.
Pending home sales and plunging in value and we see countless people repeating old mistakes. So many watch TV, see a home flipping show and without understanding the market at all, they gamble everything they have which is incredibly irresponsible.

A lot of this problem goes back to interest rates at the Federal Reserve but people need to take their own financial responsibilities seriously.

Stay tuned for more from WAM on this subject!

Video edited by Josh Sigurdson

Josh Sigurdson
John Thore Stub Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

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  • New Sparta Combat Sports

    Dammit Josh!…I will get my “first” comment….You can fight it…but eventually….I will get my comment.

  • Miss-andry Begone

    I’d be interested to know what would happen to Australians who have mortgages, if the dollar collapses and we have another GFC. In the US, the Bank owns houses until all mortgages are paid, so the people can hand back the house keys to the bank and tell them to get on with it. In Australia, people own their houses from the start. Now what happens with the next GFC, because everything will collapse. There’s hardly any point in the banks doing anything. For one thing they would be insolvent and shouldn’t be able to trade, under law. For the second thing, if all people are in the same boat and there’s nobody to sell these houses to, what happens to the mortgage? Is it wiped OR do those who have some money sale in and buy these houses for pennies in the dollar? I can’t see that the banks should be able to seize houses and onsell – because after all, they will be trading while insolvent. Surely governments wouldn’t do another bailout?

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