New residential sales fall in April as home prices, mortgage rates continue to climb

As most of you know by now. Things are not looking good. Some of us posted last November that mortgage rates were going UP. yea UP. The fed is looking to raise rates 6 yea 6 more times this year…
Some of you have posted that a few of the mortgage companies have laid off 40/50 % of their workforce.
As usual it’s the administration spending as the primary cause. This time it’s out of our hands as consumers. As a country we have forgotten that charity begins at home. We can’t buy baby milk and are coming to the point where we can’t afford gas. Oh boy, what a year we have coming.

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Yeah, it’s no secret anymore. They are actually starting to not only admit to a “rough ride” a head, but boasting about it by saying we all need to pretty much “take one for the team” to get through it. Never seen nothing like it. Still trying to figure out how we can help others by putting ourselves on the back burner!

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(CA) What amazes me in the midst of a declining economy and an administration that can’t find its a** with both hands is that there are still many, MANY, decent paying jobs going unfilled (well beyond the notary/LSA world). Where I live anyway, the service is deplorable at most retail establishments, largely due to being short-staffed or because of weak and improperly trained (or seasoned) staff. Management positions are inexplicably left wanting, too. What the heck??!!

Those who can work should be working, not living on the backs of taxpaying citizens. But you watch, I won’t be wrong on this: when the recession hits in the fall, the Administration will trot out the next “free-money” package to “stimulate” the economy, just in time for the elections (what a surprise!). Those who can but won’t work will line up for their checks. It’s just plain foolishness.

Many in America will not only not be buying homes or refinancing, they’ll be short-selling or going to foreclosure. I’ve been around too long and I’ve seen these signs before. Some banker yesterday said to “brace yourselves” for the bad days coming. I say, pay off your credit cards, reduce your debt as much as you can, pay cash when possible and save as much as you can, even if it’s just a little bit each payday. Don’t panic – PLAN! Try getting used to just using one car (if you own more than one) and make every trip to the store count. Think about your seasonal needs and buy smartly, now. Don’t hoard, but don’t overlook your necessities, either (medicines, prescriptions, non-perishables, notary supplies, too, etc.). Think like a soldier would.

America will get through this because at the core, we’re a tough, resourceful and resilient nation, but things are slipping away fast. There’s a lot of deception going on politically so, as my ol’ sweet daddy used to say, “Watch your pockets.”

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One thing I have noticed though… (only because I do vehicle transport contracts) people are starting to sell their second vehicles to dealerships. A few days ago I did a job for a lady who just three months ago bought a beautiful 2022 Rav 4. She decided that she no longer wanted to make the monthly payments and chose to take the loss on her downpayment to get out from under it. This is my third such case in a week.

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Would you call this the “tip of the iceberg”?

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@Bobby4913 couldn’t agree more.

“America will get through this because at the core, we’re a tough, resourceful and resilient nation, but things are slipping away fast.”

We (as America) have set a precedence when it comes to the domestic bailouts, handouts, and foreign aid, and that expectation “that we will get through it” (which we will) is not only known by our leaders, but because it’s known, being taken advantage of at the same time. Your concept above “used” to be done to benefit us (America) FIRST! So not only are we adding more to eat at our dinner tables, how do we feed them if we can’t feed ourselves? AS the rations continue to get smaller and smaller at the table, will only take us longer and longer to recover if not checked!

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One thing that troubles me is the Bible states : society gets the government that they deserve… Good Lord help us!

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Actually, this is the quote from religious philosopher, Joseph de Maistre:
"Every country has the government it deserves" and "In a democracy people get the leaders they deserve." The quote is popularly mis-attributed to better-known commentators such as Alexis de Tocqueville and Abraham Lincoln. I can’t seem to find it in Scripture but I may have missed it.

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This is why I always say be careful what you “wish for!” ALL Governments “play GOD” through their policies (one way or another) regardless of who is running that Government! Just imagine where we would all be if we thought of EVERYONE and not just OURSELVES when we make certain decisions? Do we ALL really have “what we deserve” right now? Or do you have what YOU deserve right now? I have a really “good idea” of what the majority of the answers will be. The “Democracy” part? The “majority” IS the democracy part! (IMO)

Thanks Bobby for your reply. I’m glad to see it’s NOT in scripture …there’s hope as the other sages could be wrong. as I’m writing this I’m watching local TV showing Miami roads under water. Good day not to have any signings scheduled.

Thanks Bobby for your reply. I’m glad to see it’s NOT in scripture …there’s hope as the other sages could be wrong. as I’m writing this I’m watching local TV showing Miami roads under water.

In capitalistic markets, such as our country there are going to be economic cycles. A recession occurring was just a matter of time, it doesn’t matter what administration was in office. https://www.zambianguardian.com/four-stages-of-the-business-cycle/
In our generation, this pandemic had a significant impact on our economy, in this country over 998,837 people perished. Our country wasn’t prepared or had the leadership when this virus occurred, so we have to persevere and overcome the long-term impacts. Enough with politics! Let’s focus on Notary Public / Loan Signing Agents progress and overcoming a declining market. There are hidden opportunities in every adversity. We will not be able to uncover those opportunities, seeing the “glass half empty”. I am not going dwell on things, I can not control. I am going to focus my actions and energies on the things, I have control over… Who is ready to make profits in a down market?

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I agree here (mostly). Not sure what kind of “leadership” would have been able to stop a virus from doing what it was “scientifically” and “biologically” designed to do! (no politics, science)!

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The Professional Tax associations are predicting there will be another avalanche of folks facing serious tax problems as well. I’m starting to see a trickle developing in my region.

I’m seeing an increase of REO closings with independent investors and banks lately.

This means to me…that the bank owned property did NOT sell at auction. That’s a warning …market heading DOWN.

Yep, you are correct. Lots of short sales.

I hate to say this but unfortunately many people will be losing their homes.

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Did you see the new doll that matel came out with? The new Ken doll…brace yourself…

OK, now I have to check out the new Ken doll!