(06-16-2023, 07:15 AM)homebiscuit Wrote:

(06-16-2023, 06:50 AM)flsprtsgod Wrote: Layoffs and restructuring is just beginning. Most companies are running budget deficits this year and unlike the federal government they don't have the ability to print their own money. Consumer debt already skyrocketed and with student loans restarimg another hit to income is going to cut the customer demand even more. That means those higher interest rate mortgages are going to climb further and further out of reach for people who should be buying starter or second homes. There are a bunch of danger signs around and something bad has to happen to fix these problems.

I have no doubts a correction is pending. However, I don’t see the shock of 2008. It was obvious to the most casual observer then that the system was upside down. I remember having conversations with my coworkers about how people were buying houses who were clearly not qualified. I saw it all through my neighborhood. Those signs aren’t as abundant now.

That's the other big factor as to why this isn't 2008 all over again (aside from inventories being low).  Lenders aren't giving out loans with no proof of income like they were leading up to 2008.  The doomsday industry has been putting ads on internet and radio for it seems like 20 years usually to sell you an annuity or their newsletter or something else.  Not sure what Kiyosaki's specific angle is here since I don't think he sells either, but he should know the circumstances now vs then aren't all that comparable.

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