👉Housing Market Doomed to Crash -- Mass Exodus out of the Big Cities like New York !!

👉Housing Market 2020 Doomed to Crash -- Mass Exodus out of the Big Cities like New York !!
The recent pandemic and resulting lockdown have been an absolute shock nationwide.
Travel, hospitality, retail, entertainment, and other industries have been completely devastated.
Unemployment is currently 20 percent, and benefits are only beginning to trickle out.
The housing market is slowing.
Nationwide property sales have slowed down. It is much, much harder to get a loan now than it was before during the high of the frenzy thanks to the passing of the Dodd-Frank Act.
The entire real estate market in this country is in trouble.
That's what happens when after 2008, you have Fannie and Freddie hide 5-7 million homes (shadow foreclosures) and print money like there's no tomorrow. Anybody that thought there was a valid economic recovery since 2008 needs their head checked. Oh, and fake pumped-up numbers and markets don't matter to me.
And Don't Forget the Bernanke Wealth Effect of purposeful Bubble Pumping and Forced Manipulated 5000-year lows in interest rates and over a decade of ZIRP. You could see this bubble miles away, but it's taken a lot longer to blow than most of us thought.

And The worst is yet to come.
In New York City, the nation's largest real estate market, the pandemic has caused a number of deals to go bust. Manhatten, the real estate market, is basically frozen right now, with a record low number of sales and contracts.
New listings are down 70 percent over last year .contracts that were signed before the lockdown are being broken or renegotiated.
We have 67 contracts canceled in march and 43 in April for Manhatten alone. The Average price cut in April is between ten and fifteen percent.
Brokers expect prices to fall up to 20 percent or more. People are fleeing to the suburbs. The big cities like New York are becoming death traps and an overtaxed dumps.
Corona was a small test run of what can and will happen. Smart people are leaving big cities entirely.
New York City is priced for simpletons anyways. It is basically the west coast Hollywood, just like Orlando.