And their earnings are showing it. County taxes around the country are going up. By the way, if you want to learn how to loan people, microloan payments so that they, instead of losing their house, they keep their house for a longer period of time because of their taxes, links down below to the Tax Lean Indeed program. An incredible way to become your own bank, make amazing rates of interest, and help people stay in their houses. Take a look at that. It’s awesome. It says here, sales of previously owned homes rose just 0.2% month over month in April.

Housing analysts had expected a gain of more than 3%. Let me explain that. It’s actually not, it’s not actually true. What’s happening is, the only homes they’re selling around the country are the lowest price homes because people that are in the know, that are intelligent enough to go, I remember 2008, I know how a million dollar home, a multi-million dollar home, it’s not selling. But what’s happening is people that aren’t educated in this because the education system does not tell you about, teach you about real estate cycles and how rent versus payment cycles work and all that stuff.

What’s happening is there are certain group of people that are still following into homes because they think they’re just going to go up forever. They’ve never seen a long-term chart of houses, and I get it. It looks like it’s going up, but when you take that price at long-term median or average price of homes chart and you calculate that versus the cost of milk, the cost of a car, the cost of the dollar, the value of the dollar, it’s actually not doing well at all. A lot of people during those little spike ups and downs, on the trajectory of a long-term upswing, you don’t realize how many people are losing their homes, losing everything they have.

So you see, that’s why it says previously sales of previously owned homes rose just that little bit. It’s because it’s the $380,000 home, the $400,000 home. The $800,000 market and above, which a lot of the country actually is priced at now, they’re not moving, okay? That says here the average rate on the 30-year fixed ended March in the high 5% range and shot up sharply in April through the Iran war. Well, what’s happening, it’s not just the Iran war, it’s because a lot of investors, the bond market, the 10-year bond market, is what dictates the mortgage rates.

By and large, that is what most banks price their mortgages off of because most people stay in a home between seven and eight years, something like that. So they say a 10-year bond rate is a pretty safe bet that the money invested in their return for that amount of time is good for that length of time. The sad thing is because most people don’t understand front-loaded mortgage rates and how that works, interest rates, they’re paying so much more for their home as the rate ticks up little by little. Now, it also says here the median price of a home sold in April was $417,700, which is up 0.9% from the year before.

Now, again, the median home price is weighed heavily. It’s based off of the average home selling and the range at which most of these homes are selling. That’s the lower end spectrum. Again, if you have a more expensive house, you really can’t sell it very easy right now. So what we’re sitting here with is a market that needs lower rates just to survive, possibly thrive, or it’s gonna collapse. And it is actually collapsing. There’s a place in the country where I’ve been looking to buy for the last year and a half, two years, and I know that they’re gonna go down.

They’re already down 35%. You’re not gonna see that in the news. They don’t want you to know that news. Do you want to know why? Because CNBC has people like Toll Brothers and Lenar and all them, they’re advertising, they’re getting interviewed on their platform. Do you think they want you knowing that they can’t sell houses? You just got to go look at their quarterly results and it shows it right there. The fact is, home sales are absolutely collapsing and it’s gonna get even better. And if you look at the St. Louis Fred, as a matter of fact, let me pull it up right now, right in front of you, because I called the top of the market, what was it, mid-2022.

Fred, check this out. This chart shows you right here and it’s the most insane thing because most people never reference this and they go, oh look, it’s a long-term chart. Look, it’s just always going up like I tell you. But this right here, that dip is massive. You see that dip right there with that big gray bar? That is the great recession. That is when a lot of your parents lost homes. You might have lost a home. This is insane, right? And look at where we are now. And you think that’s just the beginning.

That’s the warmup. It’s gonna get much, much more impressive. At the top, at the peak, quarter three of 2022, the median home price was $442,000. Now, you’re sitting at a median home price of $402,000. That means the median home price across the entire nation has dropped over 10%, around 10%. Just to give you an idea of the entire great recession, the median home price fell 16%, like 16.5%. That’s where you are right now. If you want to learn how to make money through this, learn how to give these micro loans out.

You could give loans out as little as $200 all the way up to like a quarter of a million dollars to help people stay in their properties, right, if they get behind on their taxes. And you could do it all through the county. The county takes care of all of the documents and everything. All you gotta say is, here’s the money. I’ll help that person. Link’s down below to that entire program. It’s the Tax Leans and Deeds program. And there’s also, if you want it, bi-weekly group coaching calls. I’ve set up everything for you to succeed in this.

Alright, with that being said, the Economic Ninja is out. [tr:trw].

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