Parallels nicely to the hyperventilation in 2018 about Trump’s tariffs. Then Biden proposed increasing said tariffs last year.
I wouldn’t be so sure either way. Supposedly the tight supply puts a floor under prices, but loan defaults also involves people’s ability to pay. So if suddenly their job or income disappeared… they may be forced to sell. Poster above says “he’s been hearing for years” prices are going to crash, but really this current/latest housing bubble happened after covid so it’s barely been years. Locally all I can say is homebuilders are definitely doing deals now, and what I see would likely put most people who bought new homes in 23 or 24 under water on their purchase by about 10%. That alone likely wouldn’t cause a wave of defaults, but if you get a wave of “forced selling” i could see it adding to these declines.
“J.P. Morgan is forecasting that the U.S. economy will enter a recession this year as fallout from President Trump’s tariffs has taken hold. the company’s chief U.S. economist Michael Feroli said the firm predicts that gross domestic product (GDP) will likely contract “under the weight of the tariffs.” JP Morgan predicts 2025 recession as Trump tariffs rattle market
Those Canadian workers in their timber industry love America... why make them suffer for what the Liberals in control of their politics are doing?
Yeah it's amazing to see the reaction of the 'world' all butthurt that the results of these tariffs will be paid by the American consumers.
Nancy Pelosi was in favor of tariffs for China 30 years ago? I guess that makes Democrats hypocrites for opposing non-sensical tariffs on every country in the world except our close ally Russia today. My big takeaway here is that a prominent member of Congress was willing to speak out against the policies of a President from her own party. We'd be a lot better off if there more Republicans with Nancy's courage now.
Destroy wealth from the middle class and concentrate it in the hands of the wealthy. Increase taxes on the poor and middle classes. Create hopelessness and uncertainty. Silence those being oppressed and the voices of the people. When they revolt, declare martial law and a national emergency. Suspend elections under the guise of we cannot have any elections until “we” deem it necessary to have them. Remain in power until you die or after hand choosing your successor. This is really what he is trying to do. Let me remind you what he said on the campaign trail: “You won’t have to do it anymore. Four more years, you know what? It’ll be fixed, it’ll be fine. You won’t have to vote anymore, my beautiful Christians," he said. July 27, 2024.
Don't assume that Trump will not winding up causing World War III. The Great Depression was a major reason for WWII, because it spread to Europe, and Germany's banking systems were ill-equipped to handle it, so their society fell apart and elected Hitler into high office. People believe that the high cost of reparations from WWI was the major cause of WWII in Europe, but it was not. Germany stopped paying the reparations by about 2027, and the rest of Europe stopped trying to collect. Germany's GDP was higher in early-1929 than it was in 1913. Herbert Hoover and his tariffs were one of the causes of WWII. China and Russia may invade other countries as the west is weakened by Trump's foolish tariffs at the end of Trump's term, or the beginning of the next president's term.
The largest tax increase in history. Lots of Republicans are waking up to the smell emanating from the albatross around their necks.
Are they? It would be great if Congress would exercise its inherent commerce powers but I haven’t seen much indication that is happening.
And American home buyers are going to love the higher prices on already overpriced new homes resulting from the tariffs on Canadian lumber not to mention unemployed American construction workers who are going to love the lower demand for new homes.
Admittedly, we need to allow the last part of this exact parallel to play out as evidence, but considering this is only one of many examples of certain people hyperventilating when Trump does something to disrupt the status quo, only later to not only endorse said proposal, but to propose doubling down on it, a reasonable question to ask is do you not ever learn your lesson? Or has Trump so successfully branded you with TDS that it's a completely involuntary reflex for you to hyperventilate anytime he does something to up-end the status quo?
By this standard, the Biden inflation would have served as the largest tax increase in history that we can actually document occurring. Even if you're going to assume the increase of cost to consumer as a result of these Trump tariffs will match or exceed the inflation the consumer experienced under Biden, you should probably at least allow it to play out in real life before declaring its certainty. The only thing that is certain about what will happen to consumer prices here in the U.S. as a result of Trump's tariffs is that it is uncertain and to be determined.
I think so… Rand Paul and Ted Cruz are chirping about it. Ben Shapiro called it “unconstitutional”. Tax raises are the “bridge too far” for the Republicans and they might be building the MAGA “bridge over the river kwai”
