The first real estate crisis in America’s history: ‘We’re gonna go into this with the biggest, most profitable bullocks’
“I think this is the first real-life case where a real estate company and its stockholders are going to get the message loud and clear: We’re going to go into an economic crisis if we don’t take the bullion down,” said Kevin Folta, a senior vice president at Felt Capital Partners, a fund manager that has been investing in real estate.
“The biggest bullocks are going away.”
Real estate prices have risen dramatically in recent years, buoyed by the boom in home sales and other assets that the industry has become accustomed to holding onto.
Some companies are hoping that by offering investors a more attractive return, they can spur an even bigger market rebound, particularly as homeowners get ready to refinance their homes, said James Hodge, an analyst at Wedbush Securities.
The Dow Jones Industrial Average gained 3.1% on Monday, its biggest daily gain in six months.
On Tuesday, the S&P 500 index of small-cap stocks was up 2.1%.
Wall Street has enjoyed a rare period of sustained gains in the wake of the financial crisis.
It is still far behind the 2008-09 crash, but stocks have been buoyed.
On Wednesday, the Dow gained more than 300 points, or 0.5%, to 17,569.01.
In late November, the Nasdaq gained about 7%.
The S&P 500 is up about 3%.
The Nasdaq is up more than 1%.
On Monday, the New York Stock Exchange, which has been the main exchange for most of the year, reported a record quarterly loss of $2.2 billion.
The average price of a home fell $9,500, or 8%, to $1.58 million, in New York.
Home prices fell in the Midwest, where home construction has boomed and many are renting.
In some states, including Minnesota, Texas and Missouri, prices have dropped as much as 10%.
A major factor in the surge in home prices is the federal government’s emergency housing program, which is designed to help borrowers pay off mortgages and reduce their borrowing costs.
The federal government has been giving away more than $700 billion since it began the program in 2008.
For many, it is a lifeline, especially when their mortgage payments are high and their credit scores are poor.
Some have taken out loans to buy new homes, while others have sold them or put them on the market.
The housing market has been so volatile, that many investors have turned to a different source of wealth: gold.
The U.S. dollar has risen more than 5% against other major currencies this year.
On Monday afternoon, gold futures fell more than 2% to $US3,056.93 an ounce.
Brent crude oil, the main world oil benchmark, was down 1.4% to US$46.77 a barrel.
The price of crude oil has fallen more than 15% this year, while the price of gold has risen nearly 10%.
“It is hard to see the silver and gold futures prices falling this much,” said Robert Turchin, chief investment officer at TD Ameritrade.
“We’re still in the gold bubble.”