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Mortgage Applications Fall Again?? Bookmark

 

Today ( Wednesday) we learned that mortgage applications fell another 4% last week. That certainly doesn't jive with the new home sales that they say rose 18%. How can that be? It's really pretty easy folks. The middle class has no money and can't afford a mortgage any more. They're beaten up. But the rich, who have been gifted by the Fed's with all manner of stock gains are so flush with cash, they are buying new homes like they're going out of style. 

 

Today ( Wednesday) we learned that mortgage applications fell another 4% last week. That certainly doesn't jive with the new home sales that they say rose 18%. How can that be? It's really pretty easy folks. The middle class has no money and can't afford a mortgage any more. They're beaten up. But the rich, who have been gifted by the Fed's with all manner of stock gains are so flush with cash, they are buying new homes like they're going out of style.

One think  about the rich is that they know as well as you and I do that the economy stinks and a crash looms ahead again. So they're doing anything they can do diversify out of dollars and they're buying up "real things". This is why an apartment just listed in Manhattan for 130 MILLION dollars. If you have 2 billion dollars, this is an easy buy. Besides if they devalue the dollar, at least they got "something" for them.

What a crazy world we live in folks!

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