Housing Crash Report: What You NEED to KNOW

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Michael Zuber (0:31)

So, you were promised a 38% housing crash in 2026 I thought we should look at the data. realtor.com just posted the top 10 cities where home prices are falling the fastest. Now, again, I will remind you, we were promised a 38% national housing crash. Of course, that was never going to happen in 2026 But hey, where are home prices crashing in the United States right now? Now, I went ahead and got the top five. You can go ahead and look up realtor.com. I found it on X. I think their list is the top 10 But frankly, six through 10 were basically nothing. So, let's go through the top five. Number five, San Antonio, Texas. If you've been investing in San Antonio, Texas last year, you have seen home prices crater, crash, fall off a cliff 3.6%.

Yep, they're down 3.6% in 2020, in the last 52 weeks. Oakland, Oakland, California, down 3.9%.

Memphis comes in at number three, a whopping 4.1%.

Tampa, down 5.6%.

And the number one city crashing across the United States is Austin, Texas, down a whopping 8.1%.

Now, again, these numbers are nowhere close to 38%. Many of these markets are already showing signs of healing. But there you go. According to realtor.com, those are the top five real estate markets that are crashing.

Scott Bessent is all over the wires. In fact, he makes an announcement in about 28 minutes, talking about buying back the long end of the curve that will be market moving, no doubt. Wall Street is expecting him to double it to at least 4 billion from used to be two. Some people have a whisper number of 5 billion. So again, we will see what happens. But Scott Bessent said, and I quote, I am the house now.

Basically making reference to casinos and the fact that casinos always win. He has some special insight into the Japanese government and what's going on with currencies. So he is daring traders to test his resolve. I don't know about you, but that seems like a risky move. I don't know if you guys have researched this or looked this up, but if you haven't, look up Bank of England. The Bank of England likely had a Scott Bessent back then, and it was George Soros and Company who broke the Bank of England. Now, of course, the Bank of England is dwarfed by the size of the US Treasury, no doubt. It would likely take a lot more than that to break the US, but I don't know that I would be throwing out such a cavalier comment, but again, he is very sure of himself. And then lastly, Scott Bessent says, you can bet against me if you want.

All right, Scott, let's see what your long in buybacks will be in, what now, about 27 minutes. It is Wednesday, so we got mortgage demand. It looks like mortgage demand is falling, with rates rising.

Total applications down 2.7, refinances fell 6.2%.

On a negative note, adjustable rate mortgage, or ARMS, now make up 8.5% of all applications. Folks, be careful, be careful. We are not fans of ARMS on this channel. ARMS are what created the 2008 catastrophe after 2006 origination, so be extra careful. Don't know if you've seen this yet, but apparently a former researcher at Anthropic is saying, AI could kill us all, yes, kill every human alive in the next 10 years.

He says there's a greater than 10% chance that AI will kill all of us. In the next 10 years. What are we doing? Who the hell is running communications at companies like this? Why, you want to get the government involved and just decommission data centers and burn them to the ground? You're gonna get some crazy wackadoos out there, do some stupid shit because of this. Why, if AI is dangerous enough to kill us all in 10 years, isn't AI also strong enough to defend? I mean, I don't get it. How about unplug the damn thing? I don't get it. But again, more scary headlines from AI, anthropic, open AI, telling us all that we're gonna be dead in a decade. Is that what Elon Musk meant by we won't care about money in the future? I don't think so, but if we're all dead, I guess money's irrelevant, so I don't know. I don't know what's going on over there. These people are freaking crazy, in my opinion.