America's Housing Bubble Burst in 2006
March 25, 2006 - U.S. Economy: New Home Sales Fall and Residential Inventory at Record Level. Polls show that consumer confidence has dropped significantly. The housing crash has the economy collapsing. The real estate propaganda is pouring out from the media and even the “White House” as "they" downplay the housing bubble that has burst. Most people do not really own anything in America. Almost everyone I know is just making payments on things that the banks really own such as a home and a car. Americans spend more than they earn and many people who purchased a home between 2001&2006 are in for a really rude awakening. The "artificial equity" game is over people. Total collapse of the American economy is looming as home equity debt, bankruptcy, foreclosure and personal insolvency skyrocket in a debt-ridden country. Americans have relied on the false sense of well being created by the federal government. The illusion of prosperity was devised after 9-11-2001 to spend our way out of recession.
There are several obvious indicators revealing the inevitable recession or depression that is looming; the growing inventory of houses that continue to pile up throughout the nation, houses are on the market for much longer and properties are discounted in order for them to be sold. U.S. consumer debt has now increased to more than 2.16 billion dollars. This record debt is largely from Americans living beyond their ability to pay for things they do not need. It is a fact that Americans spend more than they earn.
In the beginning of 2005, the prophecy of the residential real estate bubble bursting was revealed to this godless, materialistic, backslidden and unrepentant nation. John 8:50 And I seek not mine own glory: there is one that seeketh and judgeth.
The downward spiral of the United States of America: There is plenty of irrefutable evidence on the residential real estate bubble that has come to light. The facts, the greed, the real estate fraud, the indictments, the fines, the convictions, the incarcerations, the record consumer debt, the shattered dreams, the bankruptcies and the foreclosures continue to climb. Millions of citizens of this great nation have chosen to become slaves to debt stemming from "artificial equity" being spent on things that people just cannot afford. Real estate appraisal & mortgage fraud along with poor judgement influenced by media propaganda and driven by historic low interest rates are responsible for a destructive economic downward spiral by creating an insatiable housing "frenzy" that has now ended. This housing bubble could not have existed if the rules in mortgage lending were kept in place. For decades, the house pricing standard for qualified homebuyers was limited to 2.5 times your annual income. Today, I have read about folks who qualify for up to 12 times their annual income for an interest only "no doc" home loan. In some states this practice is unlawful and is referred to as predatory lending.
American poverty has increased for the fourth straight year in 2006.
2 Timothy 3:1-5 This know also, that in the last days perilous times shall come. For men shall be lovers of their own selves, covetous, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, Without natural affection, trucebreakers, false accusers, incontinent, fierce, despisers of those that are good, Traitors, heady, highminded, lovers of pleasures more than lovers of God; Having a form of godliness, but denying the power thereof: from such turn away.
A few thousand years ago the bible states when the Israelites chose to forsake the Lord and his laws, the Lord then allowed for their enemies to conquer & enslave the rebellious nation until they repented. Americans have placed material lust such as their house and car before God. The Word of God clearly says in Romans 13:8 Owe no man anything. There is nothing to misunderstand about that. If you do not have the cash to satisfy your material lust then don't buy it. Do not forsake the Lord and his laws or you will reap the consequences of your disobedience. For there is no respect of persons with God. Our living God of Israel will judge this faithless and perverse nation that has willfully forsaken our Lord and his commandments. The time is fulfilled, and the kingdom of God is at hand: repent ye, and believe the gospel. Watch therefore: for ye know not what hour your Lord doth come. Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap. For the Lord our God is God of gods, and Lord of lords.
The "fractured states of America" used to be known as a nation of "industry". Now most things are made in Communist China and sold here at retailers like Wal-Mart. The only jobs created in large numbers are in the retail or food industry for 6-7 dollars an hour. GM just announced the closure of 12 plants and the "forced retirement" of nearly 130,000 Americans. This was all forecasted with the passing of the North American Free Trade Agreement (NAFTA) in 1994 under the convicted liar and impeached (by the house of representatives in Dec. 1998) former President Bill Clinton. Now George Bush has passed the Central American Free Trade Agreement (CAFTA) in 2005 that will cost more American jobs. On April 20th in 2005 George Bush signed into law the new bankruptcy laws that went into effect October 17, 2005 to make sure all the Americans who dove into debt with the housing bubble frenzy would not be able to walk away from their debt.
The only hope for this nation is to repent to our living God of Israel and accept Jesus Christ as their personal savior. This broken nation without borders is flooded with illegal aliens who now are in the streets protesting pending legislation that will make entering the United States illegally a felony offense. The "homeland" is not safe and the porous borders of America allow millions of criminals to walk right in. America has been invaded without a single shot ever being fired. The middle class has been eradicated and the United States is now building a "caste" system of debt-ridden citizens.
The Democrats and Republicans are worthless and have a common agenda of building their own wealth. Their political goals have become obvious. The average American no longer has a voice that matters in this failed debt-ridden government who just raised their own debt limit (national deficit) to just under 9 trillion dollars.
You will only find peace in your life through Jesus Christ our Lord & King.
Repent for the kingdom of God is at hand.
There are several obvious indicators revealing the inevitable recession or depression that is looming; the growing inventory of houses that continue to pile up throughout the nation, houses are on the market for much longer and properties are discounted in order for them to be sold. U.S. consumer debt has now increased to more than 2.16 billion dollars. This record debt is largely from Americans living beyond their ability to pay for things they do not need. It is a fact that Americans spend more than they earn.
In the beginning of 2005, the prophecy of the residential real estate bubble bursting was revealed to this godless, materialistic, backslidden and unrepentant nation. John 8:50 And I seek not mine own glory: there is one that seeketh and judgeth.
The downward spiral of the United States of America: There is plenty of irrefutable evidence on the residential real estate bubble that has come to light. The facts, the greed, the real estate fraud, the indictments, the fines, the convictions, the incarcerations, the record consumer debt, the shattered dreams, the bankruptcies and the foreclosures continue to climb. Millions of citizens of this great nation have chosen to become slaves to debt stemming from "artificial equity" being spent on things that people just cannot afford. Real estate appraisal & mortgage fraud along with poor judgement influenced by media propaganda and driven by historic low interest rates are responsible for a destructive economic downward spiral by creating an insatiable housing "frenzy" that has now ended. This housing bubble could not have existed if the rules in mortgage lending were kept in place. For decades, the house pricing standard for qualified homebuyers was limited to 2.5 times your annual income. Today, I have read about folks who qualify for up to 12 times their annual income for an interest only "no doc" home loan. In some states this practice is unlawful and is referred to as predatory lending.
American poverty has increased for the fourth straight year in 2006.
2 Timothy 3:1-5 This know also, that in the last days perilous times shall come. For men shall be lovers of their own selves, covetous, boasters, proud, blasphemers, disobedient to parents, unthankful, unholy, Without natural affection, trucebreakers, false accusers, incontinent, fierce, despisers of those that are good, Traitors, heady, highminded, lovers of pleasures more than lovers of God; Having a form of godliness, but denying the power thereof: from such turn away.
A few thousand years ago the bible states when the Israelites chose to forsake the Lord and his laws, the Lord then allowed for their enemies to conquer & enslave the rebellious nation until they repented. Americans have placed material lust such as their house and car before God. The Word of God clearly says in Romans 13:8 Owe no man anything. There is nothing to misunderstand about that. If you do not have the cash to satisfy your material lust then don't buy it. Do not forsake the Lord and his laws or you will reap the consequences of your disobedience. For there is no respect of persons with God. Our living God of Israel will judge this faithless and perverse nation that has willfully forsaken our Lord and his commandments. The time is fulfilled, and the kingdom of God is at hand: repent ye, and believe the gospel. Watch therefore: for ye know not what hour your Lord doth come. Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap. For the Lord our God is God of gods, and Lord of lords.
The "fractured states of America" used to be known as a nation of "industry". Now most things are made in Communist China and sold here at retailers like Wal-Mart. The only jobs created in large numbers are in the retail or food industry for 6-7 dollars an hour. GM just announced the closure of 12 plants and the "forced retirement" of nearly 130,000 Americans. This was all forecasted with the passing of the North American Free Trade Agreement (NAFTA) in 1994 under the convicted liar and impeached (by the house of representatives in Dec. 1998) former President Bill Clinton. Now George Bush has passed the Central American Free Trade Agreement (CAFTA) in 2005 that will cost more American jobs. On April 20th in 2005 George Bush signed into law the new bankruptcy laws that went into effect October 17, 2005 to make sure all the Americans who dove into debt with the housing bubble frenzy would not be able to walk away from their debt.
The only hope for this nation is to repent to our living God of Israel and accept Jesus Christ as their personal savior. This broken nation without borders is flooded with illegal aliens who now are in the streets protesting pending legislation that will make entering the United States illegally a felony offense. The "homeland" is not safe and the porous borders of America allow millions of criminals to walk right in. America has been invaded without a single shot ever being fired. The middle class has been eradicated and the United States is now building a "caste" system of debt-ridden citizens.
The Democrats and Republicans are worthless and have a common agenda of building their own wealth. Their political goals have become obvious. The average American no longer has a voice that matters in this failed debt-ridden government who just raised their own debt limit (national deficit) to just under 9 trillion dollars.
You will only find peace in your life through Jesus Christ our Lord & King.
Repent for the kingdom of God is at hand.
posted by Unknown at 9:20 PM
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