Nationwide Home Sales Collapse: There Is No Recovery and This Chart Proves It

Now may be the best time to buy a home. At least that’s what the majority of real estate agents in America will tell you if you ask them how the housing market is doing.

They’ll cite various statistics and give you a “feel” for the market from their personal experiences to convince you this is the case. But if you’re paying attention, then it should be clear that there is, in fact, no recovery in the housing sector. And any gains we may have seen over the last few years are nothing short of a Federal Reserve fueled mirage, much like the stock market.

The following chart from Bank of America is indicative of some serious fundamental problems, not just with the housing market, but the broader economy as a whole.

first-time-homebuyers

If you ask the experts they’ll give a host of reasons for why sales are down, as well as prognostications for why the real estate market is about to turn the corner and head back to new highs.

The weather, of course, is always to blame for lackluster sales in homes and consumer products, and that, apparently, is the case once again. But the National Association of Realtors has, for the first time ever, indicated that there is another key challenge facing home buyers.

Student debt appears to be a factor in the weak level of first-time buyers.

“The biggest problems for first-time buyers are tight credit and limited inventory in the lower price ranges,” he said. “However, 20 percent of buyers under the age of 33, the prime group of first-time buyers, delayed their purchase because of outstanding debt. In our recent consumer survey, 56 percent of younger buyers who took longer to save for a downpayment identified student debt as the biggest obstacle.”

Brown notes the survey results are for recent homebuyers. “It’s clear there are other people who would like to buy a home that are not in the market because of debt issues, so we can expect a lingering impact of delayed home buying,” Brown added.

NAR via Zero Hedge

In short, we’re broke as a nation and we’re broke as individuals.

A recent micro documentary that discussed America’s College Debt Bubble in detail predicted that we would soon begin seeing the fall out from trillion dollar student loans. Apparently, that fall out has already begun.

But not to worry, because housing experts indicate that we may soon see home sales and prices start to rise, an effect that will be fueled by more jobs and rising incomes:

“Going forward it will take sustainable job and income growth to propel would-be-homebuyers back into the market. But with the labor market uneven at best, it may take some time before the housing industry regains the momentum seen earlier last year.”

Housing Wire

As you have probably deduced, there’s one key problem here. There is no job growth. And, any income growth already has inflation priced right in, so purchasing power will not increase and is likely to actually decrease because the rate of inflation is outpacing what Americans are being paid.

Thus, if we are awaiting a real estate recovery and the necessary steps for such a recovery require an improvement in the jobs market then you can forget about it.

The housing market is the pulse of our nation. It was the trigger event for the collapse of 2008, and it looks like it is now indicating what many of us already know: that we are in the midst of another recession within a broader depressionary trend.

Couple this with the Federal Reserve now indicating that they are pulling back on $ 85 billion in monthly market stimulus, and you can probably guess where this is headed next.

Welcome to Round 2.

housing-crash


SHTF Plan – When It Hits The Fan, Don’t Say We Didn’t Warn You

“The Auschwitz Escape” releases nationwide today. Reflections on how I discovered the true stories that inspired the novel.

AuschwitzEscape-ad

In November of 2011, I decided to go to visit the Auschwitz death camp in Poland. I’d never been there before. I didn’t really even want to go. But I knew I had to. So I invited several friends — a pastor from the U.S. and his wife, and a pastor from Germany and his wife. Unfortunately, my wife, Lynn, wasn’t able to join me. But the trip had a profound effect on me.

It was a surreal and sobering experience to visit the Auschwitz-Birkenau camp. It’s hard to describe the emotions of standing in an actual gas chamber where people were murdered, seeing the ovens where bodies were burned, walking through the cell blocks, seeing the guard towers and barbed wire and train tracks. It was haunting to realize that more than one million people were systematically murdered there, and most of them were Jews.

While I was there, I purchased a book that explained that there had been many escape attempts from Auschwitz, but only a handful of successful escapes. I was stunned. We had hired a special guide to take us through the camp. He was a really bright, educated man. He had been an excellent guide, and we had learned so much. But he hadn’t mentioned anything about escapes. I had never heard about any escapes. But this book gave a brief description of several of them.

Intrigued, as soon as I got home, I started tracking down any resource I could about these men who had risked everything to get out. How had they succeeded? What was their plan? Who helped them? What did they do when they got out? Did they tell anyone in the Jewish community, or among the Allies, what they had seen, what the Nazis were doing at Auschwitz? The more I learned, the more intrigued I became. It turned out there were several non-fiction books written by several of the men who escaped, and several about them. There were even several novels on the subject. But they were old. Some were out of print. If they once had been discussed – I’m sure they were – but they seemed long forgotten.

As I continued to do my research, I realized that April 7th, 2014 would be the 70th anniversary of the greatest escape in human history – the day Rudolf Vrba and Fred Wetzler escaped from the worst of the Nazi death camps. That’s when I began thinking about writing a novel inspired by these true stories that might draw attention back to the greatest escape in human history by men determined to tell the world the truth about what Adolf Hitler was really doing to the Jews. If I could finish it and release it by the spring of 2014, I thought I might be able help people remember these incredible stories of courage and heroism and faith.

Without question, The Auschwitz Escape was by far the most emotionally exhausting book I’ve ever written. By that I mean I had to immerse myself in the history of the Holocaust – books, documentary films, web sites, museums, research centers, conversations with survivors, conversations with experts, and so forth. And the history is more horrific that you can possibly imagine. Even when you think you understand what happened back then, you uncover more darkness, more evil. My wife and kids could see the effect it was having on me. I could see it, as well.

I knew the story needed hope. Yes, the fact that men escape from this unimaginably cruel extermination camp provides hope. They live. They survive. They tell others. Absolutely. But it wasn’t enough. For me, as an evangelical Christian with Jewish roots on my father’s side, I wanted to find out if any Christians did the right thing to help the Jews. Intellectually, I knew the answer was yes, there were Christians who had done the right thing. But I also knew that far too many people who said they loved Jesus refused to obey Him, refused to love their neighbors during the darkest period in the history of the Jewish people. Some were too scared. Some lost their faith. Some never had any faith at all, they were just giving lip service to the Gospel. It breaks my heart, but tragically it is true. Far too many so-called “Christians” failed the Jewish people when they needed us most.

That’s when I stumbled upon the story of Le Chambon and the pastors of this little Protestant village in France who risked their lives to save thousands of Jews fleeing from Hitler and the Nazis. The more I read, the more I knew this was the story of hope I needed to weave into the novel. And I think it’s the combination of the two stories – the story of a German Jewish teenage boy whose family is nearly wiped out and is sent to Auschwitz, and that a young Frenchman who is a husband and a father and an assistant pastor in Le Chambon, both fictional, but both inspired by true stories – it’s the fusion, the combination of these two story lines, that makes The Auschwitz Escape storyline work for me.

Soon, I got fascinated in who these young men were, how they get sent to Auschwitz, how they met, how different they are, and how they get involved in these escapes. This is what gave me hope, even excitement, if I can use that term, to write every day – trying to understand them and going on this hero’s journey with them both not entirely knowing how the story would wind up when I began.

In addition to going to Auschwitz, and reading everything I could get my hands on, I also traveled to Israel and visited Yad Vashem, the Israeli Holocaust museum and research center. They were very gracious and allowed me to come twice, meet with several of their scholars, ask them many questions, tour their facilities, and try to make sure my work of historical fiction was as accurate as I could possibly make it. Several of the scholars actually knew some of the men who had escaped, had interviewed them, had long discussions with them, and their insights were so helpful.

They also took me down into their vaults and showed me copies of “The Auschwitz Protocol,” the document that was compiled by eyewitness accounts from Rudolf Vrba, Alfred (Fred) Wetzler, Arnost Rosin, and Czeslaw Mordowicz, the four Jewish heroes who risked their lives to tell the world the truth about what the Nazis were really up to. Too few people know these four men’s names, but I hope that will change. The Yad Vashem scholars helped me better understand who they were, and what they wrote, and I hope you take time to understand them, too. It was absolutely fascinating, and I’m deeply grateful for their help.

The novel releases nationwide today. I look forward to your comments — which you can post on our “Epicenter Team” page on Facebook — and your questions!

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Joel C. Rosenberg’s Blog

There’s still time to pre-order “The Auschwitz Escape” at 65% off. Novel releases nationwide on Tuesday.

Releases nationwide on Tuesday, March 18th.

Releases nationwide on Tuesday, March 18th.

(Washington, D.C.) — Tomorrow, The Auschwitz Escape will release nationwide.

Soon, I’ll post details on the true stories that inspired the novel.

In the meantime, it’s great to see so many retailers strongly supporting the book and offering big discounts for those who pre-order it in hardcover, e-book and audio versions. If you’re thinking of getting the book for yourself — or as a gift – pre-order now to take advantage of these great discounts.


Joel C. Rosenberg’s Blog

THEY LIED TO CONGRESS, AGAIN: After Three Days, HHS Knew Less Than 250 People Nationwide Had Signed Up for Obamacare

Of course the Obama administration lied to Congress. Of course they had the true number of folks who had signed up for Obamacare through the disastrously flawed Healthcare.gov website.

Marilyn Tavenner, head of the Centers for Medicare & Medicaid Services, testified Tuesday before the House Ways and Means Committee… raising more questions about the administration’s transparency on the project, she declined to cite enrollment numbers. She did not claim, as Health Secretary Kathleen Sebelius recently did, that officials simply do not have those numbers — rather, she said a “decision” was made to release them in mid-November.

They lied to Congress to hide their catastrophic failures.

One of the few real reporters left in legacy media is Sharyl Attkisson of CBS News. And her report is absolutely devastating, describing an administration whose first, second and third instincts are to lie.

For 31 days now, the Obama administration has been telling us that Americans by the millions are visiting the new health insurance website, despite all its problems… But no one in the administration has been willing to tell us how many policies have been purchased, and this may be the reason…

The website launched on a Tuesday… at a meeting Wednesday morning, the war room notes say “six enrollments have occurred so far.”

By Wednesday afternoon, enrollments were up to “approximately 100.” By the end of Wednesday, the notes reflect “248 enrollments” nationwide.

The lies and cover-ups keep coming.

Where are the Select Investigative Committees, Speaker Boehner?

Where are the Select Investigative Committees, Chairman Issa?

Benghazi, the IRS and Obamacare all deserve their own.

We, the American people, demand them!

Hat tip: BadBlue News and David Freddoso

Doug Ross @ Journal