Renters – your dream home awaits. 100,000 houses are now in foreclosure.

Photo above - an allegedly vacant home, allegedly in Plant City, Florida, where I live. I can't find it online though. I'm possibly an interested buyer. The facade seems to be bulletproof stucco, which would be important if social values continue to deteriorate.

If you ever wondered how higher fed funds rates were supposed to work, today’s foreclosure stats are “Economics 101”. People lose their jobs, can’t make their mortgage payments, and get their cars repossessed too.

Mortgage defaults are up 17% this year. Some of this is attributable to “too high, too long” fed funds rates. Some is now going to be laid at President Trump’s doorstep. His lavish new ballroom doorstep. The ballroom is a new White House addition which evidently will be so large it can be seen from outer space. Do we need this? Probably not. But it was embarrassing to have Biden feed 500 of America’s greatest campaign contributors under a lawn tent while toasting Hindu strongman Narendra Modi in 2023.

Back to the home foreclosures. They’re happening here in Florida. And in California. New York/New Jersey. Even Texas. Know where they AREN’T happening? The flyover states - places where you can’t go to the beach on your day off.

There’s no easy way to do the math on the impact of 100,000 foreclosures. How much of original downpayments for these owners will have disappeared? How far housing prices will fall in the worst hit markets. Apparently, these unlucky evictees are going to have to move into the apartments which being vacated by the same renters who are now bidding to buy those foreclosed homes. When god closes a door, he opens a window,

In addition to Fed Funds and tariffs, we should add Artificial intelligence and humanoid robots to the list of unindicted co-conspirators. But don't worry - if you’re a public sector employee (teacher, police, first responder) under the protection of a union, you’re not currently at risk. Everyone else, look out - the economy is killing construction, auto sales, appliance sales, restaurants, trucking, hotels and casinos. I expect to see one of those top-heavy cruise ships sink at dockside soon, because of deferred repairs and maintenance.

America’s incomes are being flattened. This is what progressives have wanted since forever. Housing prices could come down, even though we barely build any new homes, due to red tape and restrictions.

Watch out Bitcoin and stock indexes. People who lose their jobs, cars and homes are no longer your potential customers, whether it's a 401K or otherwise.

I’m just sayin’ . . .



Over 100,000 Homes Enter Foreclosure As Mortgage Stress Spreads Nationwide | Watch