There are so many mortgage companies closing their doors and filing bankruptcy. Never in history have so many loan officers quit so fast due to skyrocketing mortgage rates. Besides the surging rates, housing inventory is low. Many homeowners who got mortgage rates at 2.5% two years ago are not budging on selling their homes. I heard in the beginning of the year 2023, there were 150,000 mortgage loan officers in the United States. A few weeks ago, the number of loan officers left in the United States was somewhere in the 70,000. I have researched this matter with hundreds of loan officers, mortgage company owners, processors, support and operation mortgage professionals, real estate agents, underwriters, wholesale mortgage account representatives, builders, and anyone directly or indirectly in the housing and mortgage industries. Please share your thoughts.

• This discussion was modified 1 week, 1 day ago by  Sapna Sharma.

I live on a 7 acre property and did the final end of the year mowing today which I am not done. Started last Friday but my tractor broke down. Got my tractor back Friday and mowed for three hours. I spent 5 hours today and still have more than 10 hours at best. It normally takes me 8 hours to mow my yard by myself without doing trimming which I normally spread it out over 3 days over one week. If I hire a landscaper, it costs me $600. Here are some photos and videos.

Inflation is screaming 😱 out of control. Many people who are very conservative have been saving money for years if not decades. What is the best way to invest money during periods of out of control Inflation?

Inflation rates are soaring like never in history. Mortgage Rates are at 25 year highs. Mortgage rates we 2.5% 18 months ago and today is 7.625% for prime borrowers. Borrowers with sub 680 credit scores are paying 7.75% plus 3.5% in discount points. Home prices are at historic highs. Many would be homebuyers are priced out of the housing market. The mortgage industry lost 50,000 licensed mortgage loan originators from 140,000 to 90,000 and is expected to see more loan officers leave the mortgage industry. Every thing is going up. Car prices have skyrocketed and continues to go higher. Homeowners insurance premiums are increasing like never before. Joe Biden makes a speech a few days ago saying that Inflation is low under his watch. What is this guy thinking?

https://youtu.be/94-xcl1m6hk?si=g29nmNkMs2ZvY_Mg

The government says inflation is 10%. The government are liars. Have you noticed the cost of goods at the local grocery store. A 12 pack of soda cost $3.99 just a year ago. Cost of a 12 pack of soda is now over $10.00. That’s a 300% increase in price. I remember buying a two liter plastic bottle of RC for 0.99 cents. Now any two litter soda is $3.50 to $4.00. I can go on and on. A fully decked out brand new pick up truck or SUV can cost $100,000. With skyrocketing inflation numbers, Mortgage rates surpassing 8%, wages remain the same. I remember not to long ago a $100,000 annual salary was considered high income and wealthy. $100,000 with the inflation rates today is lower middle class. If you work for the government, you will get raises because the government print dollars through their printing press. There needs to be a change and people need to wake up and stop being in a state of denial

Inflation refers to the general increase in prices of goods and services in an economy over a period of time, leading to a decrease in the purchasing power of money. When inflation occurs, each unit of currency buys fewer goods and services than it did before. It is usually expressed as an annual percentage rate.

Inflation can be caused by various factors, but some common drivers include:

1. Demand-Pull Inflation: This occurs when the overall demand for goods and services exceeds the available supply. When demand outstrips supply, prices tend to rise.

2. Cost-Push Inflation: This type of inflation is caused by an increase in the production costs for businesses, such as rising labor costs or raw material prices. As businesses pass these increased costs onto consumers, it leads to higher prices.

3. Built-in Inflation: This is also known as wage-price inflation and occurs when businesses raise prices to compensate for increased labor costs, and workers, in turn, demand higher wages to keep up with the rising prices.

4. Monetary Factors: The money supply in an economy can also influence inflation. If the central bank prints more money without a corresponding increase in economic output, it can lead to too much money chasing too few goods, causing inflation.

Inflation is typically measured using various price indices, such as the Consumer Price Index (CPI) or the Producer Price Index (PPI), which track changes in the prices of a representative basket of goods and services.

Some level of inflation is generally considered normal and even desirable in modern economies. A moderate and stable inflation rate can encourage spending and investment and can help avoid deflation, which is a persistent decrease in prices that can be damaging to economic growth.

Central banks and governments often aim to keep inflation at a target rate (usually around 2% in many advanced economies) through monetary and fiscal policies. However, when inflation becomes too high or too volatile, it can erode the value of savings, disrupt financial planning, and create economic instability. Conversely, low or negative inflation can also have adverse effects on the economy, such as encouraging hoarding and deferring spending. Striking the right balance is essential for maintaining a healthy and sustainable economy.

Many Mortgage companies are hurting. Mortgage rates are at 26 year highs, the Feds keep on increasing rates, inflation is out of control, home prices are increasing despite high rates and a weak unstable economy. Over half the licensed loan originators are expected not to renew their NMLS mortgage licenses for 2024. We will keep this thread going

My associate at GCA Mortgage Group, Wendy Lahn, recommended this  DIY credit repair program. I need to handle some issues with my Discover Credit Card, and I signed up for this DIY credit repair service. I will keep you posted. I will be disputing fraudulent credit card charges. I trust Wendy Lahn’s recommendations and am confident I will benefit greatly.

• This discussion was modified 1 year, 6 months ago by  Gustan Cho. Reason: Updates

What is the current state of our economy? Has Bidenomics helped our economy like Kamala Harris keeps on saying? Did the United States have a soft landing like Janet Yellen and Jerome Powell said? Democrats are saying we dodged a bullet because of the Biden Administration. The unemployment numbers came in at 4.2%. Are the unemployment numbers real or not accurate? Inflation numbers are at 3% but that number is not correct if you shop for goods and services. Mortgage rates went from 2.5% in 2019 to 7.5%. How did the sudden 400% jump in rates affect the economy? How is the 100% plus increase in home values affecting our economy? How is unemployment numbers at 4.2% is not reflective to actual Americans out of work?

https://youtu.be/bjm9VGuN8NI?si=CfkRTvarcQ1ybkZi

Peter Schiff, the economist who predicted the 2008 housing market crash now predicts an 80% to 90% housing crash. Don’t underestimate Peter Schiff. Schiff has been spot on his housing and economic forecast for years. Government should not intervene on the open market. The FED printing money has a disastrous impact on the overall economy. Government control and guarantee railroads the housing and banking system where it disrupts the overall economic development system and the end result is a financial crisis. Homeowners who purchased homes are barely surviving and many cannot afford their housing expenses. Homes are getting reasseessed where property taxes are increasing 50% and more. Homeowners insurance is doubling in many areas. Many people cannot afford the maintenance in their homes where the end result will be a tear down. Bankruptcy and foreclosure numbers are skyrocketing at historic highs. Watch Peter Schiff’s commentary on the state of our economy.

https://youtu.be/QjaFDvJ02OI?si=sPI1S5bqTW367cuB

Biden Administration cronies are big fat liars. JOE BIDEN and his idiot gang of liars are in a state of denial on the economy. Look at this video Neil Caputo drilling one of BIDEN’S big fat lie on how Biden took over an economy with a 9% inflation and inflation is now under control. Total Bull Shit. Biden Administration screwed up the economy and America.

https://youtu.be/JKMLfPbAn30?si=e7qzTWpNDOPL-S1B

Many of you heard the term Soft Landing in our economy. Most consumers never literally lived through a horrific downturn of the U.S. economy as the economic turmoil we are going through now. Our economy today is worse than the 2008 financial, credit, and real estate crisis of 2008 by a long shit. The financial and real estate meltdown of 2008 is a thunderstorm compared to today’s Category FOUR HURRICANE comparison in our economy. However, the biggest liars such as Jim Kramer of CNBC, Joe Biden, Treasury Secretary Janet Yellen, and Federal Reserve Board Chairman Jerome Powell is all telling us that inflation is in check and we had a soft landing and the economy is just fine. These incompetent liars are absolutely clueless and all they are great at is printing money. Inflation, housing, job, CPI, and other economic numbers are all a lie and we are not even close for our economy that is in turmoil to have a soft landing. Remember this year is an election year and the nasty incompetent politicians need to get reelected so they can follow in Joe Biden’s footsteps in being a tenured career politician being an incompetent politician for over 50 years without having one single job in the private sector.

Will the 2024 housing market crash forecast be worse than the 2008 Financial Crisis and Housing Market Crash Forecast? What goes up comes down right? Why are housing market experts and economists saying the 2024 housing market crash forecast will be worse than the 2008 housing crash? Interest rates have skyrocketed from 2.0% to 7% in twenty four months. The sudden increase in mortgage rates and skyrocketing home prices as well as surging inflation have put a halt in home affordablility among millions of potential home buyers. Unemployment rates have surged and many people are becoming homeless or are in the verge of being homeless. Please take a look at this video.

https://www.youtube.com/watch?v=zY0d-RKtYaQ&ab_channel=Econofin

Federal Reserve Board Chairman Jerome Powell gets grilled by Louisiana Senator John Kennedy and seems like his asshole is puckering. Jerome Powell gets owned and called out by the Louisiana U.S. Senator and becomes speechless sometimes during the grilling session. Incompetence and lying is not being condoned by Senator Kennedy. Jerome Powell is the main reason for the destruction of the U.S. economy.

https://www.youtube.com/watch?v=RpQSv7cvqRY

Seems like everyone is an expert in the media where they say that mortgage rates are still low. Jim Kramer of CNN is the biggest liar and bullshitter who has great talent. Jim Krammer talent is lying with a straight face on national television on how great the economy is, how inflation is under control, and how mortgage rates are still low compared to 1980. All of these liberal clowns need to shut down their clownshow and get off the air. What are your thoughts of mortgage rates forecast in the coming months through 2025? What are your thoughts of inflation, the housing market, the stock market, the dollar, unemployment, and investment opportunities?

Peter Schiff is a legend. Peter Schiff called the 2008 financial crisis when others were laughing at him. I remember Peter Schiff calling out Washington Mutual and sure enough the largest mortgage lender and servicer went out of business. This economic crisis is obvious. Consumers are feeling it at the pump, grocery stores, malls, auto repair shops, auto dealers, shopping for homes, surging mortgage rates, and the cost of goods and services skyrocketing like a runaway train. The dollar is becoming worthless because the Federal Reserve Board keeps printing money like there is no tomorrow. Wages are not keeping up with the cost of goods and services. $100,000 salary per year is no longer high income. The cost of goods and services has been rising rapidly in recent years, leading to significant inflationary pressures on consumers and businesses alike. Here are some key points about the current state of inflation and the factors driving high costs:

1. Elevated inflation levels: The annual inflation rate in the United States reached a 40-year high of 9.1% in June 2022, as measured by the Consumer Price Index (CPI). While it has moderated slightly since then, it remains well above the Federal Reserve’s target of 2%.
2. Supply chain disruptions: The COVID-19 pandemic caused widespread disruptions in global supply chains, leading to shortages of various goods and materials, which drove up costs.
3. Rising energy and commodity prices: The war in Ukraine, coupled with increased global demand as economies reopened, has led to a surge in energy prices, particularly for gasoline and natural gas. Other commodities, such as food and metals, have also seen significant price increases.
4. Labor shortages and wage growth: Many industries have faced labor shortages, leading to higher wages and increased costs for businesses, which are often passed on to consumers.
5. Strong consumer demand: Pent-up demand from the pandemic, coupled with government stimulus measures, has fueled robust consumer spending, putting upward pressure on prices.
6. Housing and rent costs: The housing market has seen a sharp rise in prices and rental costs, contributing significantly to overall inflation.
7. Federal Reserve’s response: The Federal Reserve has been aggressively raising interest rates to combat inflation, but the effects of these monetary policy actions often take time to fully materialize.

The persistently high inflation has eroded consumer purchasing power and squeezed household budgets, particularly for essential goods and services like food, housing, and energy. Businesses, too, have had to grapple with higher input costs, which can impact their profitability and investment decisions.

While the Federal Reserve’s efforts to cool demand and bring inflation under control are ongoing, the current inflationary environment remains a significant challenge for both consumers and businesses alike.

https://youtu.be/zRZ1LrT3nas?si=2aa91YuDakdHfIlu

What planet is Jerome Powell in. Inflation is at 3%? I have so little respect for liars.

https://youtu.be/ImrKxlLJCEY?si=H8SMrwFTV0zlkW_8

What would you invest in today during periods of high inflation, high home prices, and high interest rates?