2012 - The Crash of the U.S. Housing Market?

[AshNAugBernal]

Its going 2b a gov't take over of the Housing Market. Notice how they talk about ppl in summer of 2012 that are on time with payments & they will start to default & get foreclosed on. They dont explain why. But notice how we have this New "Refinance Bill" that just now past. Its too good 2b true ppl. If this comes true & "Good Mortgages" start to go under & get foreclosed on for no reason then the gov't purposely set this bill up for failure! Be very cautious how refinance your home!

[aaronandnicole]

ron paul predicted this long befor any of these fool.

[JackRoller008]

Barney Frank, Chucky Schumer, Chris Dudd, & Maximus Waters created this mess in 1999 when they ran the fiancé committee. The bill they sponsored force banks to write loans with no money down and interest only supposedly to help minorities, ("everyone in America should own a home").

[mayssm]

@JackRoller008 So why didn't the Republican controlled House, Senate and Executive fix it? They had 6-8 years before the meltdown. It would have been easy as pie with control of the entire Congress and Presidency. And it's not like economists weren't screaming at them at what was coming.

[sensfaninohio]

@mayssm Because Republicans don't "fix" problems created by Democrats, they just whine about it after the fact and use it as a tool to get elected. Democrats and most Republicans are all the same - PROGRESSIVES! Imagine the Democrats are a Lamborghini and the Republicans are a Mercedes Benz. They are both headed down a one-way dead-end street with a brick wall at the end. Does it matter really that under the GOP we'll have a few more seconds to reflect on our life before we crash & burn?

[ukusapillage]

they arent wrong, foreclosures havent stop

[2009pmatson]

Bush and Republicans were in control until 2006, then democrats voted in Democrats to house of Representativesto protest the war and Democrats are angry at Bush for Democratic policies. Sum it up Democrats we all start as, until we grow up, and educate ourselves and become Republicans

[myestatedealdotcom]

I think when it comes to real estate the best way to save is through saving on realtors commission when selling your property. If your buying why not try a new revolutionary system that helps you get a rebate of any property you buy!!!

[rb3264]

Something like 7 out of the last ten recessions/depressions were caused by housing crises.

[DarkSifu]

governments gonna step in after the second crash and buy up the houses and trade them in for military service. I predicted this and everything else that was going on at 17 yrs old im 24 now and multiple things have happened. including the nuclear facilities burried in the sand but still operational in Assyria. and the 401k crash.

[PandoraLeigh]

Is there an update to this for 2011?

[urbanecondetroit]

@PandoraLeigh Look at Mortgage Tsunami Two: 2011-2013

[mrsluisaj]

@PandoraLeigh . Yes there is an update.... They were both so wrong!!! Some one should call him out on it.

[andreestes99]

@mrsluisaj Are you kidding me? These guys are right on currently. This market has much further down to adjust. Millions of foreclosures, pre-foreclosure, as well as the folks underwater still deciding whether to walk. More pain to come from the bubble party of the early 2000's.

[dreamerstays]

@PandoraLeigh

Its 2012 already. The doom and gloom fools must be pretty upset and pushing the date into 2013 maybe

[larrybonner1]

@dreamerstays it would have crashed but Obama stepped in with his mortgage relief plan.

[mizzury54]

And what praytell are you advising those "buffoons" to do? don't get me wrong I'm not saying they aren't buffoons (all the beloved Republicans fit this moniker also) but I love the way all these small government champions look to the government for economic salvation.

[traynickel]

This is why the Stock Market is rhyming with 2008. Gold is $1800/ounce. PRIME ALT A DEFAULTS peak in July 2011 and will peak again in 2012. No Jobs, No Recovery. GAME OVER!!!!

[traynickel]

OTC Derivatives are the CREDITS he was talking about. Wall Street needed as many home loans created as humanly possible, to package and sell all over the world. Lehman didn't care what kind of buyer you were. Just sign the damn PROMISSORY NOTE!!!!

[theroilsoil]

The nice part is seeing all this housing greed go right down the toilet.

If we had provided more stable, well-paying jobs in the US - mostly in the private industry - we would not have seen so many people rushing to realestate as a quick-fix for their over-maxed spending life style.

Now it's over, no one is "safe" who put so little down for insane mortage loans, which aren't even worth the paper they are printed on.

Let it crash - hold on - live more frugally - and enjoy the ride.

[mryellow123]

@theroilsoil Was just funny watching people buy realestate at the top of a fake inflated housing market. Everyone around me talking like they knew some "truth" about "economics" and that "realestate always goes up". They don't even figure it out when the only buyers they can find are other investors looking to leave the house empty. It's like people imagine that everyone in the market is prepared to pay 50 years income for basic shelter and that it's somehow sustainable growth.

[jeyeykei]

i noticed lately that thousands of white americans and europeans are buying "cheap" high-end condos in manila and other provincial cities here in the phils., maybe most of them are staying for good?

[videolover61]

I bought my house in 2007 for $255,000...now in 2011 it's worth $138,000...I have not payed my mortgage in almost a year...it's rough out here...America is an illusion...

[mookixox]

@videolover61 You have not paid your mortgage in nearly a year, and the educated homebuyer realize the Govt has allowed millions of you to be in that position so your homes don't hit the market (which gives the illusion that the home prices are nearing stability). Which is why I will NEVER buy a house until the true prices hit a bottom. America, welcome to the END. RIP

[MrCongaLine]

Wow, just like all those "First Home Owners Grants" in Australia where the government sucked people into the market who just couldn't afford it without a bribe!

Australia is lagging the US by a fair bit and is about to go underwater too!

[heartlessvietboy]

The Housing Market is The Amazon!!

[waldentree]

@MrCongaLine Very true. The brown stuff is about to hit the fan world wide.

[toppgunn2232]

its funny how these sheep blame republicans and democrats when the true thieves and con men work for jp morgan and goldman sachs and the rest of the crooked bankers!

[AIMANALI]

Amazing how all these guys have predicted all these things ....wow amazes me lol

[KatherineJRealtor]

We did not want to here this back in 2009 and are there now...Good stuff

[badsign1980]

the european central bank is a scam to take the countries off gold and oput them all on flat currency like the dollar, making a gdp too big then its the perfect excuse to say we cant put the currency on gold even if we want because theres not enough gold even though europe weas the biggest percentage of gold in the planet, in the hands of the rothschilds and in swiss banks, theres 26 countries in the euro and counting, its gonna be biggest weist in history after the usa when it collapses €:0

[badsign1980]

no goldand silver are valuable because a. they are manageable with fire and solid minerals, they are scarse, mankind always had fascination with them and are durable and became a status concentrated value measure to put on other things thats why they are worth always as long theres human beings, its was the jewish bakers that started inventing the flat currency crap, to rip off people with speculations and casino like style, its about power over you, paper was backed by gold here until 2001

[farmboycarl]

WAKE UP BECK! This isn't a market correction, it's an organized attack. Why do you continually cover up the $55 Trillion dollars worth of credit DEFAULT swaps that benefit from mortgages DEFAULTING? Is it because your viewers are too stupid to understand it, or is it because YOU'RE too stupid to understand it? Let me make it simple. If you pay someone to destroy something, they're gonna destroy it.

You and your Wall Street buddies refuse to prosicute the rapists. Gee whiz, I wonder why.

[TAPriceCTR]

the entire economy has colapsed because of economic slavery. executive salaries strip too much from the base employee wages. "they deserve more" yes but they do not deserve infinately more. financial polarity is currently at an unsustainable level and this is why everything is in a downward spiral. the masses are too poor for the economy to recover.

[myg0tBUTTPLUG]

WOO HOO!!! Good news for first time Home Buyers!!!! Keep Crashing!!! Burn baby burn!!!!! $200,000 dollar house will be $60,000 soon!!!! HAHAHAHA SHWEEETTT!!!

[amcanmike]

house prices are up across america,all time high prices in most cities.

[sensfaninohio]

@amcanmike - Maybe in Paris, but not in the United States. In October alone they were down .8% and Forbes quoted Clear Capital as stating 70% of the US's major markets dropped in value in 2010 and 2011 will witness further price declines. Values in most American markets continued to plunge downward — creating an overall national price drop of -4.7% year-over-year.

[amcanmike]

@sensfaninohio not in any markets i looked at the whole northeast is up lots and also many cities in california ,colorado, all up dc is up, boston way up,even fla is up.

[sensfaninohio]

@amcanmike - I really think your figures must be faulty, or your source is Barney Frank. Just examining one state, and an area of a state I am familiar with on your list as well as knowing the area well, this is what I found dated 01/06/2011:

A group that monitors home prices has come up with its list of worst places in the nation to own a home.

The three worst are all Central Florida cities.

[sensfaninohio]

@amcanmike - Central Florida is expected to have the three biggest home value declines in 2011 with prices dropping 6 percent in Orlando area and 11 percent in the Daytona Beach region. "You can't have a healthy housing market when you have 12 percent unemployment rate,” said Dr. Sean Snaith, an economist from the University of Central Florida. “As labor market improves, as we see job creation in next year, that's going to provide basis housing market can recover."

[amcanmike]

@sensfaninohio i made money in all fla selling homes last year its up

[sensfaninohio]

@amcanmike - Well I am glad you made money. But that doesn't tell me that the market is up. Why is it - even if it is from the Liberal media - the stories are all speaking about housing being down? So everyone is lying, except you? Sorry - but despite it being the Liberal media I'm bound to believe them far more. After all, they'll protect "their man" in the White House quicker than tell the truth and what they are telling us certainly doesn't help "their man" now does it? Just might be true!

[chefshitpiece]

@sensfaninohio What employment increase? All the manufacturing went south or east. What...are we gonna get by on a service economy? What do we do...all bcum massage therapists so we can rub each others knee caps? Were in deep.

[sensfaninohio]

@chefshitpiece - I know there are no employment increases, unless you count temp government help (aka: the 2010 census) or all the new bureaucrats being hired in by the Feds and elsewhere. Only government is growing - the rest is suffering big-time!

[DavidAKZ]

@amcanmike reference ?

[chefshitpiece]

@amcanmike Check out Wall Street Journal website Jan 31 2011 on Housing drop.

[endtimesfuntimes]

Congratulations America! we broke the 14 trillion dollar national debt mark.

[NeuterSkooter]

I predict economic collapse due to the national debt

[PLISKEN12]

what u need to watch is the agents that falsify documents to get a loan. its still happening !!!!! they r sucking up the economy !!!

[1mokeke]

i don't understand why 2012 is the crash time for everything. economy, housing, all head to the end of the world? sounds too much of a fake..

[DavidAKZ]

@1mokeke because 70% of the US economy is based on consumption including housing

[Ms69Nicola]

Thank you for your advice

[Ibuysellinvest]

SPOT ON GUYS WOOOOO GOING TO GET REAL BAD BEFORE IT GETS BETTER

[rbrouwer5]

same situation....get an attorney..to much corruption in the paper system and mers...fight these jags. F@#k Chase and all the other banks.. They make way more on foreclosing then modification. thanks to the bailout to AIG and big banks.The Gov allowed this because all there buds (big banks ) were making huge money...and now with the biggest financial heist in American history they have hedged there bets and made money on the bailouts. For the people by the people.nope. For the Gov. by big bus.

[Rico8458]

pursuit of capitalism or mercantalism. call it what you want we need limited, very limited government. we need more freedoms, more personal freedoms, less taxes, no taxes, stop spending, in theory that period of america when gold was set at 21.00 dollars per oz for 100 years profuced our greatest prosperity. government only has to defend nation and keep things fair. nothing else.

[superchangeit]

This crisis is in fact a good reality wake up call. Its caused by a money and greed psychosis the perpetuates a false reality, namely money can replace whats lacking in humans. it cant. the more a society relies on money to cover cracks the less inherent value and strength it has in its real asset, its people and culture. if your culture is money your stuffed..

[russmsk]

0:15 #LOL

[Rekewitz]

Being that this is an issue of fundamentals, Robert Prechter should've had far more mic time. It's a sad age when experts get mere seconds of talk time while loudmouth desk jockeys get to dominate the microphones.

[ravenshroud]

Anyone who thinks this is related to a political party is as big a fool as anyone has been along the way. This is not Obama. This is not Bush. This is deregulation, globalization, and a big big game of dominoes. No party will save us from this. No leader will save us from this. Our children will all work for Walmart.

[canadastreetmedia]

How is the war and freetrade working out for everyone in 2010 ?

People are not going to renew a big mortgage on a smaller value : round 2.

its cheaper to buy another house with a fallen price in the near future, so no ones buying untill the market stops falling,

The faster it hits bottom the faster more people will start buying again.

TERM UNDER WATER = ADMIRALTY LAW JURISDICTION , here is the scam.

[monkeyman1140]

Don't worry Glenn, nobody will evict you.

[IowaArmen]

i'm curious-is anyone just going to come out and admit that the human species' experiment with fiat money is an abject failure? not to mention that the only thing free trade agreements have accomplished is leaving millions of people free to starve in the streets.

[ColdBoi]

Well the broke people are screwed.

[GA7777777]

Where can I print off a copy of this chart ?

[Cyrus992]

Lets not forget that...

THE RISING COST OF OIL WILL DESTROY US EVEN MORE!!!

[sensfaninohio]

@Cyrus992 - True. But BHO is too busy worrying about universal health care, owning auto manufacturing & banks and generally jet-setting all over the country and the world "campaigning" for his DNC co-horts and his own re-election bid in 2012 to worry about us "little people" who rely on oil/gasoline prices staying low and affordable.

[sensfaninohio]

@Cyrus992 - BHO in his own words:

"I think that I would have preferred a gradual adjustment. The fact that this is such a shock to American pocketbooks is not a good thing. But if we take some steps right now to help people make the adjustment, first of all by putting more money in their pockets, but also by encouraging the market to adapt to these new circumstances more rapidly, particularly U.S. automakers..."

Huh? Higher gasoline prices are a good thing? A Dem putting $ in our pockets? HA!

[nextlifeguitarist]

@Cyrus992 absolutely right mate...people are not realizing that world is facing the worst energy crisis of the story with no return point......the worst things will begin around 2014/2015.....no boring days are starting for sure!

[Homemcardoso]

i dont understand...

if we all have a debt..... if all GOVERNMENTS have a debt too... who the fuck does humam kind onws money??

[sensfaninohio]

@Homemcardoso - Not all countries are in massive debt. Some, like China, own much of the debt of other nations - especially this one. Consider this -- if you own a home one day some Chinese official may be able to evict you from it since the Chinese will own this nation, own these banks and quite possibly also then own your property by default. Nice feeling, isn't it?

[Homemcardoso]

@sensfaninohio what can we do?

[sensfaninohio]

@Homemcardoso - Well telling our elected idiots to do anything doesn't work - as we found out via Health Care Reform when over 70% of Americans called, faxed, e-mailed and screamed NO and HELL NO. So long as this government and any other after this keep spending at ridiculous rates - we are doomed! And so long as government owns the banks and China owns our debt ... we're double-sunk!

[DavidAKZ]

@Homemcardoso well, there are slaves and then there are masters.

[johnywinslow]

RAW LAND! buy up raw land folks. think of it as another form of bulion. it is a long term investment, not a get rich quick plan. silver and land now will pay off bigtime in 20-30 years. better then your 401k or even your new home after intrest payments and inflation.

[moniequa]

I think people should buy houses, especially people with low income, they should offer above asking price and put every penny into their houses to ensure that when they lose their jobs they will lose everything and be homeless immediately.

[walkonhome]

Arguing whether Bush or Obama is better is like arguing who is the taller midget. Either way, all the presidents in my lifetime have sucked!

[jobedied]

Print baby Print put it on the backs of the next generation let them be impoverished.

[bmer650]

Why not force the Banks or holders of these mortgages to re write these mortgages at 1% or 2% above the base rate until this mess writes itself. We the tax payer did saved there asses. They did this in the UK and property prices are rising again. The problem here is the long term fixed rates. That our economy can no longer afford

[Saborsaoco]

Next hot commodities: Pitch Fork, Shovels, Chain Balls and Torches!

[HermandLo]

the difference is is this time, feds/treasury are ready and theyll absorb all of the bad debt thru 2012...devaluing the USD. i do think theyre playing two face by telling the world they are ending QE and raising rates, but at same time giving fannie/freddie/FHA an unlimited blackhole to absorb the 80/90% mortgage origination and refis...a new bubble has already begun..USD

[sansonj72]

Are you missing the employment impact? Are you missing the impact by China? We have loans going on daily with FHA and USDA- so you are wrong there.

[bmer650]

@sansonj72 You are all missing the real reason for the decline, AUD is doing well only because of raw materials to China, All western countries are in decline, the financial crisis was the catalyst but the fact that big business is moving all production out of the west to China for a high but short term gains. Until we stop demanding products at Wal-Mart prices and force the Chinese to reevaluate the RMB and start manufacturing again in the West them we are doomed. You watch over the next 5years

[cds162]

why can't people pay?

all these people took out 3 to 5 year arm loans..thinking they could refi in a few years.. those few years are here now, and the price of their home has fallen, not gone up.. so they are UNABLE to refi. which means the payment on their house is going up

[PalmyBruce]

My guess (a) Govts of US and others will again, humanely print the trillion needed to keep US society basically functional. 'Not comfortable, but better than accepting a world-wrecking depression possibly leading to riot anarchy and nuclear war.(b) Internationally the US dollar and other currencies will therefore become devalued relative to real goods like food and fuel - high inflation globally.

[PalmyBruce]

(c) Because of the modern world's mortal dependence on the US infrastructure of the Internet, the international community will not let the US collapse. (d) Life will go on, increasing population continuing to deplete the earth's resources - especially petroleum and water - until the lack of them becomes the real tinderbox and flint of conflict and war. Bruce Thomson, New Zealand.

[RicardoRolo85]

I am Canadian, with our Current Strong Dollar, I can't wait to pick up some prime real-estate in the market in the near future, when prices decline. Now i must do the Unamerican thing..and Save!

Remember it is not a Right to own a home but a Privlidge!

[MrStallioninc]

Let us help!!!

[Indutrial321]

Bush warned of fannies lending but everyone called him crazy

[herbs814]

@Indutrial321

The Demoncrats didn't just pretend Republicans were crazy for wanting to hold Fannie accountable; they slandered the Republicans as being "racist" because they were so desperate to keep their corrupt slush fund away from the sunlight.

[tomintroy]

How in good conscience, could you defend the republicans (the new liberal party)? Bush was an incompetent buffoon that actually makes Obama look like an improvement.

[Indutrial321]

Ammo is the new currency.

[genknorr]

buy ciggarets an liquer will always be a good trade commodity

[firebird2012]

now for the bad news , this is just the start of it , the us is on its way out , and if you want to buy a house now let me suggest a tent

[knau1234]

Ya, maybe a good car you can sleep in, and a warm bag :)

[jsmith2007LOL]

thanks to incompetent buffoons of Bush Administration - loose credit, unchecked financial derivative systems and worse of all 2 Wars and millions of lives.

[sensfaninohio]

This goes further back than Bush. This is also Clinton, Bush, to a small extent Reagan, Carter, Ford, Nixon, Johnson, Kennedy and the list goes on way back to the first Roosevelt at the turn of the 20th Century. But yes, the worst of this has taken place since the late 70's with Ford and Carter and compounded by Clinton & Bush #2

[BourneAccident]

@jsmith2007LOL

If you think Bush and his liberal Congress were something, Bush was a cake walk compared to our present batch of buffoons...

[tomintroy]

Bush and his supporters like you drove this nation to the brink of collapse period!!! Did you from 2000 to 2008?!? Wars, terrorism, banking/housing/auto collapse, masses of illegals flooding the nation, loss of freedoms and the fuel/voters to elect this Marxist government.

[sansonj72]

Why not Clinton with his deregulation of mortgages, and stripping of our national security?

[Trashfished]

@tomintroy clinton re enforced an old carter law. In 1993 clinton sighned into law that banks could not turn down anyone for a mortgage even if they could not afford it, or they would be "discriminating" do a little research on this . And by the way quit blaming Bush for everything. The man had some balls and got those muslims on the run. Thank God.

[doc7474]

@BourneAccident yep, they are all bad.

[jonvssocrates]

I think it's 50% Bush and 50% Greenspan. Greenspan kept interest rates too low for too long which helped caused home prices to shoot up.

Either way, we're screwed now.

[anthony31983]

@jonvssocrates how about Obama Geithner and Bernanke debasing our currency with rampant, unprecedented money printing?

[zappos49]

Get REAL money people and protect yourself.

GOLD AND SILVER

[TAPriceCTR]

@zappos49

gold and silver are not "real money" they ONLY have value if civilization gives it such... if civilization colapses then those will be truely worthless unless you are an electrician and even then they have roughly the same intrinsic value of copper

[optical76]

@TAPriceCTR what, as opposed to fiat paper? is the paper dollar real money? i bought silver by the hundreds of ounces back in 2002. all in silver eagle coins at 10 cents over spot. i've been selling them for 45-60 dollars a coin now. how is that worthless? every civilized society valued gold and silver throughout history. silver is actually more rare than gold. if you don't hold physical silver or gold and the dollar collapses, how is that going to work for ya?

[Alsayedmustaffa]

@zappos49 GOLD IS SO MUCH NOW !!! WHAT IF YOU BUY 5 KILOS AND IN 2012 THE GOLD PRICE GOES DOWN BUY 25-30%

[MlTher]

@zappos49 Gold and silver wont protect the money people from the clubs swung by the poor people smashing their properties and heads.

[MrHopkinsproductions]

@zappos49 just buy enough food and seeds

[golfprobro4eagles]

China is NOT going to honor derivative hedge contracts for silver. China is keeping there silver and giving it to there citizens for protection from the coming hyper inflation crises. China is going to break the silver market and the dollar. One Billion plus Chinese people dumping dollars and buying silver and gold all of Asia and the world following china . We are doomed God help us. search utube for who let the china silver bulls out

[30percentplusreturns]

Just because mortgages for a bunch of people will reset doesnt mean defaults are automatic. With the subprime yes, but not with these other loans. There will be more defaults but lets not get crazy.

[MRjohnRc]

O MAN! You must be an expert! Thank you GOD for sending this know all man of truth to tell us all that everything is going to be a ok Even though there is going to be a lot of bad morgages that will reset into 2011, and jobs are hard to find! it's a relief that the worlds smartest man 30percentplusreturns said it's ok on a Youtube clip! Thank you JESUS!

[jehu92844]

Exelent video. 100% to consider. This is the reality of Real Estate Industry and they are not talking about the other Real Estate Crisis......Commercial Real Estate.

[rayme4raw]

Glenn Beck does such a poor job of reporting of course that's what he's paid to do, to make sure that the stupid people who get all their information from TV never receive any actual news that educates them as to what is going on. I saw and read an article the used the graph shown only it was a more complete graph and the article explained that the next major spike in ARM defaults will begin in Nov 2010. I hope that they take the banks down with them.

[hopeforamerika]

Great video. 5*****

I agree with the assessment. Furthermore, if taxes increase, and a value added tax is implemented, surely what they're talking about will become a reality.