@Thor Sveinbjoernsson what you have put out is the single worst, most incorrect over-simplification of the " 08/09 Housing Collapse", written with complete and total ignorance of every financial and investment market mechanism involved INCLUDING the actual housing market data and factors involved. And the fact that your calling yourself an accountant! I am totally blown away and terrified for business persons who may be looking to you for sound business advice that they would catalyze into actual actions.
First off, the housing collapse was (in a simplified manner) 2 MAIN actions: a housing SURPLUS (and a massive one at that) AND a significant monetary contraction. Thats it, NOTHING like today, nothing at all.
The monetary contraction was a ticking time bomb, it's was destined to happen by the sheer design of it and as you were oblivious to all of this I will not attempt to get into the finer detail of mortgage-backed securities and the layering of tranches. Short story, the securities were destined to fail AND those securities had factors of x20/x40.x50+ of funds gambled upon them so each security that went down took a grossly disproportionate amount of capital down with it.
At this point you may be asking "this guy seems to know a bit more than average on this", yeah, because I was actually there, and I spent a time as a Mortgage Banker to boot. The housing collapse was a monster sized freight train that many fo us saw coming miles away, not to the full extent of what it was BUT many of us in the business knew a correction was coming, knew lending was hugely inflating the market, knew the math of over-supply and on and on all meant correction was coming, we just didn't know when and how bad.
Today, we are in a housing SHORTAGE. We do NOT have the same crazy system on mortgage-backed securities we had in 08/09, or to be more accurate the Jenga stack of gambles is not built in a way as it was.
There is so much distortion in your post and promotion that it verges on criminal. For example, saying everyone better hurry and sell in next 6 months "or else" there will be mass flooding of market with sales, your telling people to flood the market genius. Thats inciting a run on the market. Your inciting fear and panic.
Your correlating unemployment with housing market collapse, well guess what, pre 08/09 collapse unemployment was under 4%. So by your logic low unemployment = housing collapse, because thats what it was. It was the housing collapse that made unemployment rise, not the other way around.
i gotta stop, because I could literally write pages of false information and false premise in your doom pandering, with matching pages of actual economic and financial reality, basically all those things actual accountants learn in a university which is why I am confused by your stated position and statements, they don't match at all.
Will unemployment effect mortgage defaults and the economy, absolutely, and not in the manner stated because we DON'T have a declining market we have a restricted market from regulation suspension. What the difference, well a declining market is one where the whole is reducing from fundamental factors, a restricted one, which we are in, is where desired economic activity is restricted and with that it builds tension, like a spring, and as restriction are removed that tension is expressed by massive economic boom. Don't believe me, just look everywhere that is opening and removing restrictions.
Look, I'm not an economist, but I did study economics, and all this I am saying is a combination of life business experience and that economics study and basic principles, all of which are and have proved true over and over again. There is NO collapse coming like this ya-hoo is trying to incite.
