Josh Sigurdson talks with author and economic analyst John Sneisen about the major bubble burst on its way to New York’s real estate market as U.S. home prices reach 1% off of their 2006 highs. We all know what happened next…
Manhattan’s home prices have plunged the most since 2009 in the first quarter. People are anxious about buying and we’re seeing the results already. As the bubble gets unsustainable, investor confidence holds up a manipulated market with little fundamental value or demand.
When examining the Bronx, as we write this, there are 1567 homes for sale by agent. Well, to follow that up, there are 2090 pre-foreclosures. That’s a massive indicator that something isn’t right.

As the 2006 highs are reached across the board in the United States, the signs are not pointing in the right direction. Derivatives are unimaginably volatile. Collaterlized debt obligations have returned to banks such as Wells Fargo and they’re now called collateralized loan obligations as if that changes the fact that they’re terrible bundled mortgages rated by a couple good mortgages thrown in, often triple A.

We are seeing the combination of localized housing bubbles, bond market bubbles, stock market bubbles and of course central banking bubbles. This is the end result of vast centralization.

Stay tuned as we continue to monitor this issue closely!

Video edited by Josh Sigurdson

Featuring:
Josh Sigurdson
John Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

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