Tags: 4 | Reasons | Housing | Will | Get | Worse

4 Reasons Housing Will Get Worse; 1 Simple Solution

Friday, 07 October 2011 09:15 AM

Robbed of $69,750.

That’s how much the average American lost in the value of their home as median prices plunged 31 percent in the last five years.

And it’s about to get much worse, according to New York Times best-selling author and economist Robert Wiedemer.

“Consider that mortgage rates are at an all-time low right now,” he explains. “But if mortgage rates rise and hit a reasonable 7.5 percent, it'd basically mean home prices would have to decrease by as much as another 32 percent.” (For details, go here.)
Aftershock Survival Summit Video, Watch Now
So when interest rates rise, it will be a hit of $119,430 to the average home owner.

But higher mortgage rates aren’t the sole scenario that could cause housing to drop substantially, he explains. America only has to remain “as is” to see prices tumble. Consider these disturbing economic trends:

• There are 18.4 million vacant homes saturating the market.
• The unemployment rate is currently at 9.1%. However, the amount of people who are underemployed, which includes those who are involuntarily working part-time, is at 18.4%.
• 28% of home owners have a loan for more than what their house is worth.

“I wish I was wrong,” Wiedemer said when asked how he accurately predicted the real estate crash in 2006. “And there is mounting evidence that it will undoubtedly get worse. But there are things people can do right now to better their situations.”

Wiedemer is referring to the guidelines he provides in the controversial Aftershock Survival Summit presentation (it was even banned by some major networks). In it, Wiedemer explains how the United States got into this mess. He boldly names names and unapologetically reveals how our system was manipulated by banks, politicians, and even so-called “patriotic” Americans.

But more importantly, in the Aftershock Survival Summit, Wiedemer gives the audience specific, exact solutions to survive the real estate downfall, and also advises what to do with your retirement accounts, insurance, careers, and investments.

To watch the Aftershock Survival Summit now, click here.


© 2019 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
StreetTalk
Robbed of $69,750. That s how much the average American lost in the value of their home as median prices plunged 31 percent in the last five years. And it s about to get much worse, according to New York Times best-selling author and economist Robert Wiedemer. ...
4,Reasons,Housing,Will,Get,Worse
339
2011-15-07
Friday, 07 October 2011 09:15 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved