Its Happening Right NOW… | The Economic Ninja
Summary
Transcript
It’s happening right now, and they don’t want you to understand what’s going on. They don’t want you understanding the truth of how serious these times are. I’ve got a story I’m gonna read you. I know it looks like a blank screen. I gotta unlock it because weird things happen in my pocket when this thing’s there. But I have to tell you right now, commercial buildings are being foreclosed on on a rate that you.
You can’t even comprehend, and it’s what’s causing the banking crash. Now, we’ve all been waiting about for foreclosures, but the truth. Oh, gosh, that’s bright. Gotta turn this thing. The fact of the matter is, foreclosures in residential mortgages are being held back because of something called Dodd Frank. They don’t want you to know. And sometimes banks work with people between two and up to five years before they actually foreclose.
Right now. And we’re going to go into what’s going on because it’s absolutely insane. I’ll just tell you right now. Commercial foreclosures have jumped 117% since last month. You heard me right? Think about regular mortgages. Everybody’s feening and can’t wait to buy some of those and wait for this crash, right? It’s. Imagine this because of Dodd Frank. It’s like the housing market eating a bunch of corn. If it ate a bunch of corn, you’d know exactly when everything came out.
All the crap came out. You’re like, oh, okay, copy all. The foreclosures are like corn. We see them now, but you actually don’t see them because Dodd Frank’s like, you’re not allowed to eat corn. We do not want you to know what’s going on behind the scenes. So let’s talk about commercial mortgages. Let’s talk about foreclosures. And then put that, and just please put this in your mind right now.
Commercial mortgage backed securities implosion. I’ve been talking about this for, like, three years. It’s way worse than mortgage backed securities. And they don’t stand by the same rules and regs as the residential mortgages because of Dodd Frank. All right, so here we go. And remember, this is why the banks are crashing. It’s just getting worse. This is out of Fox business. You know, the news channel is scared to have me on.
All right. Commercial real estate foreclosures jumped 117% in March as troubles loom. Well, no duh. The commercial real estate market is starting to buckle under the weight of higher interest rates and remote work. Well, whoever wrote this is behind the times. But about two years, there were. No wonder they don’t want to have me on. There were 625 commercial real estate foreclosures in March, up 6% from February and 117% from the same time last year.
Year. According to a new report published by real estate data provider Adam. The figure is calculated based on commercial properties with at least one foreclosure filing, including default notices, scheduled auctions, and bank repossessions entered into Adam data warehouse during the month. California. Weird. Had the highest number of commercial foreclosures in March, with 187 properties. Just hold back what you’re really thinking, ninja. Just don’t say it. I’m working on things.
While that marked an 8% decrease from the previous month, it’s a stunning 405% jump from the previous year. As we’re reading these amazing facts, and I know there’s going to be someone. There’s always this one guy. Don’t be that guy that goes, you’re doom and gloomer. I’m like, I’m sorry. The ninja just reads stories. News stories, facts, figures, the truth. And it’s that guy. That one guy in there.
That’s the guy. You’re gonna go buy his house. So you just go look for that comment, because he’s coming in there, right there. Pretty soon. Oh, you’re doom and gloomer. I’m so sick and tired of this fear. I hope that guy has a really awesome house, because I’m gonna be fighting you guys to buy it. It says here California began experiencing a notable rise in commercial foreclosures in November of 2023, surpassing 100 cases and continuing to escalate thereafter, the report said.
New York, Florida, Texas, and New Jersey also saw notable increases in commercial foreclosures last month. Foreclosures have steadily risen since May of 2020, when they hit a record of just 141 properties. At that time, the US economy was still in the throes of COVID The throws. How do you guys all feel about those throws nowadays? Yeah, let’s talk about a wussy throw. All right. However, those agreements have largely expired, and now the commercial real estate market is struggling with a number of challenges, including higher interest rates, waning demand for office space, and blah, blah, blah, blah, blah.
I only say that because it’s the same story everywhere. And what blows you away is people go, uh, ninja, I think you’re wrong. I get this all the time. There’s, like, these really important people that, you know, say they’re important. I’m not just due to the bro hawk in a dream, a dream of crushing it in the next real estate crash. Anywho, they sit there and they go, oh, no, real estate’s not gonna drop this time.
I go, cool. Tell me what’s gonna make real estate keep going up? And then it’s like, in the back of my mind, I’m hearing that, you know the jeopardy. Song, and I’m thinking, Burt Reynolds is there, Sean Connery, and he goes, your mother Trebek. My point being is that they never have an answer. I’m like, oh, our company’s gonna keep paying people and not laying them off. Oh, wait, our company’s gonna give them raises.
Oh, wait. Is the government gonna spit out magic fairy dust called money? Wait a minute, that’s actually happening? That’s why it’s going a little slower than planned. Copy. Just wait. Just get. Oh, Biden into office. And they said everything can crash after that. Sad thing is, I don’t think he’s gonna make it. I didn’t mean sad. I mean glad about one, let’s just do this. Type one, if you’re voting for Biden, it’s weird.
It’s almost like crickets. Is anyone even watching? Okay, type two, if you’re not voting for Biden, watch what happens. It’s quite exciting because the only people that watch this channel are really cool people, smart individuals, people that are like, oh, yeah, no, I can. I can totally tell the difference between reality and fantasy world. That’s where we are right now. A lot of people. Well, about 10% of the public, they’re called liberals, live in fantasy world.
About 1. 5 trillion in commercial mortgage debt is due by the end of 2025. Well, that’s not bad. 1. 5 trillion. That’s not gonna hurt the banking system since the sarcasm. But steeper borrowing costs coupled with higher, tighter credit conditions and a decline in property values brought on by remote work have increased the risk of default. And think about remote work for a second. You just got companies like wework that are completely going out of business.
Roughly $929 billion worth of commercial real estate loans are set to mature this year, according to mortgage Bankers association. Read it. Real boring, because this is boring info, but it’s exciting. Borrowers may have no choice but to refinance significantly higher interest rates. No, it’s called just give it back to the bank. Think about this. Blackrock. You know when I said they were going to fail, and I was like, ninja, you’re wrong.
They’ve already given back a bunch of properties. They gave back their skyscraper in Manhattan. They’re like, oh, I don’t. We don’t need this anymore. Come, come take it back. El Banko banker. That’s how they talk. I don’t. I don’t know why. Hey, look, there’s a spirit airplane going over. Only thing spirit about that is your spirit that gets crushed when you get shoved into one of those little seats and get charged for even breathing their air.
But they’re about to go bankrupt. Everywhere around me, I got things that are going bankrupt. Point being, is this. It’s bad. It’s gonna get a lot worse. Get ready, because by about June, you’re gonna start to see the first wave. I’ve been calling this for a year, and, well, just about a year. Let’s not get too ahead of ourselves. The first wave of home foreclosures hit the market because that’s how long the first wave of banks working through the Dodd Frank thing during all of the forbearance.
You know that there’s a ton of forbearances. There are more people on forbearance in their mortgages than there were total foreclosures in all the great Recession. Right? Well, some of those leaked through, and you’re about to see those go to full blown floor closure. And this is going to be exciting. But just remember this, all you got to do, because Dodd Frank has not allowed the banking system to eat corn, so you can’t figure out when it all comes out and all the foreclosures are there.
You look at the commercial real estate market, and you know that that is bigger bubble than mbs of the GFC. Lol. Too many acronyms. And that’s going to take down the banks, and that is going to cause banks to go, oh, you want to take out a mortgage? Do you see us bleeding over there? We’re totally bleeding out, but it’s just like a Monty python Thawne thing. It’s like it’s a mere flesh wound.
I hope you got something out of this. I got a jam. Gotta go pick someone up from the doctor. Hopefully they’re not waiting for me. The economic ninja is out. Bye. .
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