Foreclosure rate in the US reaches 2020 levels

[alani123]

https://www.wsj.com/economy/housing/high-housing-costs-are-pushing-foreclosures-to-a-six-year-high-266c56c0

A very worrying statistic coming out. Foreclosure rates in the US have been climbing and now reached the same level of pandemic quarantine times.

We were told the pandemic was a once a century event. Yet the economy in many of its aspects is doing much worse right now.
Do you think this is going to unwind somehow?
Will it affect crypto in some way? Or is it just another day in today's economy where everything keeps going to shit but the rich keep making more money?

[sergiorus]

https://www.wsj.com/economy/housing/high-housing-costs-are-pushing-foreclosures-to-a-six-year-high-266c56c0

A very worrying statistic coming out. Foreclosure rates in the US have been climbing and now reached the same level of pandemic quarantine times.

We were told the pandemic was a once a century event. Yet the economy in many of its aspects is doing much worse right now.
Do you think this is going to unwind somehow?
Will it affect crypto in some way? Or is it just another day in today's economy where everything keeps going to shit but the rich keep making more money?

in 2020 money printer fixed everything.
well, rather postponed the disaster but it would appear they can keep hitting the can down the road for many many years so i expect money printer to go brrr again.
crypto surely benefits from it but it will be very hard to maintain the same quality of life even if your networth increases.

[WillyAp]

We were told the pandemic was a once a century event. Yet the economy in many of its aspects is doing much worse right now.

You just found out that the people claiming a once in a lifetime event are living in Bubble.
Similar to the Xers, aka twitter crowd who confuse the 3 hour kung fu robots with a society living on Mars.or everyone on earth needing a robot.
Fore casters are relying on surveys, surveys are now lately done over AI.

The company claims its method is "10 times faster, 10 times cheaper and 90% as accurate as human polling".

A study that once took weeks and tens of thousands of euros can now be completed in a day or two. Responses can often be gathered in under 24 hours, allowing clients to react to events almost in real time.

https://www.bbc.com/news/articles/cwyw6rylzepo 

at least bbc came clear on what AI also does:

In politically-sensitive polling, however, caution remains strong. Ipsos does not use AI-generated respondents in political surveys, and other firms take a similar stance.

[bitgolden]

in 2020 money printer fixed everything.
well, rather postponed the disaster but it would appear they can keep hitting the can down the road for many many years so i expect money printer to go brrr again.
crypto surely benefits from it but it will be very hard to maintain the same quality of life even if your networth increases.

Well back then we had Covid, which meant that there were issues of buying stuff, since we could not go out, and most shops were even closed, and people didn't earn, so of course money printer had to go "brr".

But nowadays we do not have that, we have a manmade war that was not even needed, and only happened because nobody could stop trump and he can do whatever he wants to and he did. But that means we are seeing oil prices surge, the inflation going higher due to that, and people are unable to buy once more just like those times.

[Fortify]

A very worrying statistic coming out. Foreclosure rates in the US have been climbing and now reached the same level of pandemic quarantine times.

We were told the pandemic was a once a century event. Yet the economy in many of its aspects is doing much worse right now.
Do you think this is going to unwind somehow?
Will it affect crypto in some way? Or is it just another day in today's economy where everything keeps going to shit but the rich keep making more money?

It certainly feels like we are on the precipice of a very sharp drop off when you consider all of the goods that stopped flowing out of the Strait of Hormuz. With the war in Ukraine still going hard, the last thing the world needed was another essential trade route seizing up. All sorts of goods are coming out of that area, primarily oil and the massive amount of byproducts of oil. There seems to be no backing down from either side, so this could drag on for much longer than anyone imagines. We're just seeing the very edge of the coming effects right now and it will take years to recover, even if everything went back to normal today. This means that inflation is set to soar again and it will always be the poorest countries that end up suffering the most, as richer countries figure out ways to absorb the costs.

[Creeper0]

It certainly feels like we are on the precipice of a very sharp drop off when you consider all of the goods that stopped flowing out of the Strait of Hormuz. With the war in Ukraine still going hard, the last thing the world needed was another essential trade route seizing up. All sorts of goods are coming out of that area, primarily oil and the massive amount of byproducts of oil. There seems to be no backing down from either side, so this could drag on for much longer than anyone imagines. We're just seeing the very edge of the coming effects right now and it will take years to recover, even if everything went back to normal today. This means that inflation is set to soar again and it will always be the poorest countries that end up suffering the most, as richer countries figure out ways to absorb the costs.

Yes, I agree with you that it will cause inflation. The Strait of Hormuz is a trade route through which a large amount of the world's goods are exported to different countries. Their war is greatly damaging the world's commercial system. Due to which inflation may increase again soon.
The United States has already suffered a lot due to the war. If this continues, inflation will not decrease, but rather increase. No one knows when their war will end. In such a situation, it will also become difficult to deal with inflation.
Because in many cases, people are now more focused on war than inflation. If skyrocketing inflation really occurs, then there will be a lot of pressure on the United States. And small countries will suffer more than them.

[sergiorus]

in 2020 money printer fixed everything.
well, rather postponed the disaster but it would appear they can keep hitting the can down the road for many many years so i expect money printer to go brrr again.
crypto surely benefits from it but it will be very hard to maintain the same quality of life even if your networth increases.

Well back then we had Covid, which meant that there were issues of buying stuff, since we could not go out, and most shops were even closed, and people didn't earn, so of course money printer had to go "brr".

But nowadays we do not have that, we have a manmade war that was not even needed, and only happened because nobody could stop trump and he can do whatever he wants to and he did. But that means we are seeing oil prices surge, the inflation going higher due to that, and people are unable to buy once more just like those times.

the printer has been going brr since 2008 with various intensity.
2020-2021 were an extreme deviation of course but money printing is somewhat a normalised state so we will definetely go back to it soon. it all went too far anyway, they simply cannot stop anymore.

[savetheFORUM]

in 2020 money printer fixed everything.
well, rather postponed the disaster but it would appear they can keep hitting the can down the road for many many years so i expect money printer to go brrr again.
crypto surely benefits from it but it will be very hard to maintain the same quality of life even if your networth increases.

Well back then we had Covid, which meant that there were issues of buying stuff, since we could not go out, and most shops were even closed, and people didn't earn, so of course money printer had to go "brr".

But nowadays we do not have that, we have a manmade war that was not even needed, and only happened because nobody could stop trump and he can do whatever he wants to and he did. But that means we are seeing oil prices surge, the inflation going higher due to that, and people are unable to buy once more just like those times.

Money printer is like a magical tool for them. They can't think of any other ways but just easily resort to it when it fact there are other options too. The online word is doing fine though. People can use that in order to buy stuff and even work remotely and still continue earning. But I know not all people can do that. But at least, that lessens the burden. The history may seem to be repeating again but I still think Covid times are much worse than now.

As you mentioned, now it is mostly the oil products are affected. That means many other products are still on their normal values and people can always roam around outside now and find ways to earn and live even if there is no vehicle due to high oil/gas price.

[WillyAp]

It certainly feels like we are on the precipice of a very sharp drop off when you consider all of the goods that stopped flowing out of the Strait of Hormuz.

Large amount? About 25% and most countries could easily look elsewhere.
Look as if they like to depend on something.

https://www.britannica.com/topic/How-Much-Oil-Passes-Through-the-Strait-of-Hormuz