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GCA Forums News for Wednesday August 13 2025
Latest Housing and Mortgage News – August 13, 2025
- Today’s housing market challenges continue, pushed by uncertainty over Fed policy and the Trump-Powell standoff.
- Average 30-year mortgage rates stick at 7.0%, defying the hoped-for cut.
- Annual home-price gain dropped to 2.7%, according to S&P CoreLogic Case-Shiller.
- While active listings jumped 31% from 2024, demand is fading because interest costs remain steep.
- Analysts caution that firing Powell could shake markets, lifting rates further and deepening the strain on first-time buyers hoping to enter the market.
Trump’s Threat to Powell and Talk of a 3% Rate Cut
- Donald Trump has intensified calls to fire Jerome Powell, blaming him for the Federal Reserve’s $2.5 billion renovation of the Eccles Building, which the president calls gross mismanagement.
- The project has swelled $600 million beyond the original $1.9 billion price tag, mostly because of hidden asbestos, rising material prices, and the need to meet historic preservation rules.
- Trump argues Powell’s fiscal mismanagement justifies his dismissal “for cause,” even though legal experts say that argument is flimsy and would likely falter under the rules that protect central-bank independence.
- The president believes a 3% drop in interest rates would follow Powell’s exit.
- However, economists warn that it could accelerate inflation and increase mortgage rates.
- Powell rebutted the charges, claiming the work is necessary for safety and energy efficiency, and asked the inspector general to take a look.
- Rising Costs and Fraud Rumors: The finish line for the Eccles-project has moved from $1.9 billion to $2.5 billion, which has sent Trump associates—most notably OMB chief Russell Vought—charging Powell with ostentatious waste.
- They point to European-style green roofs and upgraded marble façades.
- Powell counters that the biggest price spikes are asbestos removal, fire-code fixes, and the need to keep the building in historic compliance.
- He rejects any notion of luxury extras.
- Formal fraud accusations don’t exist, but federal prosecutors say criminal pointers are under review.
- Next Fed Meeting: At the Fed’s meeting in September 2025, most folks think the target range will stay at 4.25% to 4.5%.
- If newer inflation numbers show clear easing, a 25-basis-point cut could be considered.
- However, Trump’s return to tariffs might nudge core inflation above 3%, making rate cuts trickier.
- Mortgage Rate Outlook: Expect mortgage rates to hover between 6.5% and 7.5% until 2025.
- A Fed rate cut could bump them down to around 5.75%.
- Demand for homes outpaces supply by 31%, but the cost of borrowing is keeping many current owners in place and off the market.
- Demand and Inventory Trends: Demand for homes is steady, but pressure from rates is evident.
- Year-over-year supply is up 31%, yet the total still lags behind pre-pandemic numbers.
- Industry Headwinds: Companies like Rocket Mortgage posted losses in Q2, suffering from the persistent high-rate environment.
- Bankruptcies among real estate firms climbed by 15%.
Investigations Into Mortgage Fraud Allegations Against an Official
New York Attorney General Letitia James and U.S. Senator Adam Schiff from California are under federal inquiry for alleged mortgage fraud. Special prosecutor Ed Martin runs grand jury probes in Virginia for James and Maryland for Schiff after referrals from the FHFA. James’ office is also under review for possible civil rights abuses in her prosecutions of Donald Trump and the NRA. Schiff rejects the allegations, labeling them “transparently false.”
Questions About Governor Gavin Newsom’s Home Financing
Governor Newsom is being scrutinized for buying two high-end homes totaling $12.8 million on a $200,000 salary. Critics suggest the homes were funded by hidden gifts or LLC funding, but Newsom insists he acted lawfully.
Tesla Stock Falls on Cybertruck Fires and Musk’s Distractions
Tesla’s stock (TSLA) lost 6% on Tuesday, marking a 25% drop for the year, after news of Cybertruck rollovers (five deaths above the limit) and battery failures. U.S. regulators are weighing a temporary sales ban on Cybertruck, a move Musk blames on “political interference.” Quarterly deliveries clocked in at 1.79 million, the first year-over-year drop in a decade. Musk’s attention to political causes and his role in Dogecoin have prompted worries that he is distracted from Tesla’s core business.
Tulsi Gabbard Drops DNI Docs Showing Russia Hoax Was a Set-Up: Treason Cases Incoming
Gabbard’s newly unclassified docs charge the Obama and Clown Car Cabal—Clinton, Brennan, Clapper, Comey, Schiff, Pelosi, and others—with plotting a “treasonous” Russia collusion lie to sabotage Trump’s 2016 victory. Intel Community memos confirm analysts told the White House neither Russia hacked ballots nor changed vote totals before Election Day. After Trump won, the IC contorted to allege that Putin wanted Trump to win. Gabbard is sending the files to the Justice Department for grand juries. Trump is demanding cuffs for the conspirators. Obama is waving a bipartisan Senate report and calling it all nonsense.
Ghislaine Maxwell Says She’ll Spill on Epstein’s “Pedophile List” If Given Coast-to-Coast Get-out-of-Jail Card
Serving a 20-year nibble, Maxwell is dangling testimony to Congress on Epstein’s “pedophile list” like a fishhook at a carp festival—provided Congress produces a guarantee of absolute immunity and promises not to ask her questions on the spot. She insists on a hearing outside the prison walls and a list of questions sent beforehand. House Oversight Committee staff shot the immunity request with a “Whoa, not happening” dart. Trump swears nobody on his crew approached him to discuss a pardon. Epstein victims are again yelling for the full Epstein unsealing, but a judge kicked the DOJ’s request to the curb.
Trump and Musk Go from Golf Buddies to Twitter WWE: Deportation Dreams Fly
The Trump-Musk bromance flamed in a months-long Twitter cage fight after Musk called the proposed “Big Beautiful Bill” nonsense. Musk accused Trump of having Epstein ties and called for Trump’s impeachment. Trump shot back with threats to yank Musk’s solar subsidies and deport him. Musk countered with a new political prank dubbed the “America Party” to snatch Trump’s fans. Musk: “Trump is in the Epstein files. Change my mind.” Any truce Trump-Musk fans prayed for was blown apart when Musk blasted Trump’s proposed tariffs on fancy electric grill deliveries.
Officials Deny Epstein Client List: Trump Faces Heat from Critics
AG Bondi, FBI Patel, and Deputy Bongino declared categorically that no Epstein client list exists and that the investigation is officially over, prompting a backlash that accusers are labeling a cover-up. Bongino has been MIA from the office since a heated exchange with Bondi; rumors of his resignation are circling. Trump privately thanked Bongino and Patel, though his supporters are seething.
Economic Wire: Inflation, Stock Market, Metals, Job Force
- Inflation: PCE index rose to 2.6%; CPI now 3%.
- New tariffs could push CPI to 3.3%, raising stagflation fears, with CPI now above the target.
- Stocks: The S&P 500 is cruising near a record, but only a few mega-caps are pushing it upward.
- Tech layoffs jumped 15% this quarter.
- Precious Metals: Gold up 8% in Q1.
- The stagflation trend is positive.
- Silver lagging but set to surge.
- Jobs: Jobless rate sits at 3.7%,
- Last month’s payrolls were revised down to 73K.
- Layoff notices up 20%.
- Shadow rate is 22%.
- Bankruptcies/Layoffs: Corporate defaults are at a 14-year high, with 694 cases in 2024.
- Google, Apple, and Meta are cutting 10,000-plus jobs.
DOJ Sweep Hits Biden-Era Officials
Bill That Matters
The DOJ cuffed 12 Biden administration aides on graft charges; more are in the pipeline. A new law shutsters EV tax credits after September and slaps a $250 fee on every EV, hitting Tesla now but likely boosting immediate sales. Solar and storage credits will also end, denting Tesla Energy’s growth.
https://www.youtube.com/watch?v=nPh2QQx5vsY&list=RDNSnPh2QQx5vsY&start_radio=1
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Brandon Johnson is a hybrid neutered Baboon mixed with a three-legged jack ass. Johnson should not be producing offspring.
🔍 VIDEO SUMMARY:
🚨 Trump Threatens to Send National Guard to Chicago 🚨
President Donald Trump is doubling down, calling Chicago Mayor Brandon Johnson and Illinois Governor J.B. Pritzker “incompetent” while threatening to deploy the National Guard to the city. Trump says Chicago is a “disaster” and claims local police can’t handle the crime — but Johnson fires back, insisting violent crime is down and no one in Chicago has asked for military intervention.Governor Pritzker warns he’ll fight the move in court, calling it a violation of federal law, while Senator Dick Durbin dismisses it as “political theater.” The clash echoes Trump’s previous deployments in Los Angeles and Washington, D.C., raising questions about legality, politics, and public safety.
📌 In this video:
Trump’s full remarks about Chicago leadership
Mayor Johnson’s pushback against National Guard deployment
Pritzker’s legal threat to block Trump in court
Durbin’s claim that this is all a distraction from other scandals
The legal loopholes allow troop deployments in D.C. but not in Chicago
💬 Do you think Trump should be able to send the National Guard to Chicago without state approval? Comment below!
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Kamala Harris just delivered another cringeworthy moment — this time, Democrats might be done covering for her. After a painfully awkward exchange with Stephen Colbert and a string of public flubs, even party insiders question her role. Is this the moment everything changes? Democrats want her to go away. In this video, we break down the fallout, the response from Democrat leadership, and what this could mean for her political future.
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Which California cities are crashing the hardest in 2025—and why are home prices free-falling by 50% or more?
In this video, we uncover the brutal reality of the California housing crash of 2025. You’ll get a data-driven, no-BS tour through 10 cities where home values are tanking—some faster than anyone expected. If you’re worried about overpaying or thinking of buying real estate in California, this might save you from financial disaster.
We’ll break down where the real estate bubble is bursting—city by city. From San Francisco’s luxury collapse to Fresno’s investor panic and Stockton’s foreclosure tsunami, you’ll hear the hard truths no one’s putting in the brochures. Real stories. Real numbers. Real regret.
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Think a $15,000 house is a dream come true? Think again. These 10 U.S. cities offer jaw-droppingly low home prices—but the fine print reads like a horror script.
This video shows the cheapest places to buy real estate in America in 2025. It’s tailor-made for frustrated buyers, relocation seekers, and anyone waiting for the market to crash (without crashing their sanity).
We’ll take you on a satirical road trip through Cairo, Detroit, Camden, Flint, Buffalo, and more—where homes are cheap, but the catch is brutal. Expect real estate insights, property tax traps, crime stats, and local horror stories to make you think twice before chasing a “deal.”
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What if you could buy a livable home in 2025 for less than a new truck? These 10 U.S. Cities prove it’s possible.
In this video, you’ll discover a cross-country list of surprisingly affordable markets, complete with real estate data, local insights, and the catches you need to know before you buy. Perfect for homebuyers, retirees, remote workers, or anyone curious about where your mortgage could feel like a utility bill.
We break down median prices, property taxes, insurance costs, and the hidden trade-offs in cities like Cleveland, Buffalo, Pittsburgh, and Gary, Indiana. You’ll see which places offer real estate deals that feel like you’re cheating the system—and which might cost you in other ways, from harsh winters to sluggish economies.
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Cook County State’s Attorney Eileen O’Neill Burke announced Wednesday that the Chicago police officers who killed Dexter Reed last year during a shootout in Humboldt Park will not face any criminal charges
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