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Jeremy Grantham says home prices are doomed fall amid high prices and high rates Jeremy Grantham is certain that home prices will fall 30 percent Jeremy Grantham also says we are in a big stock market bubble and finally he says the biggest bubble ever was the Japanese real estate market where the Japanese real estate was worth 10x what Manhattan real estate was worth I would argue that Jeremy Grantham is a Perma bear and thinks everything is a bubble but again he is certain that home prices will fall crash 30 percent I guess we will see Goldman Sachs talking about credit card losses and continuing are continuing to climb Goldman Sachs says it's not done yet expects credit card losses to continue to rise through 24 and 25.
so not peaking until the first half of 2025. currently credit card delinquencies are up three point or up to 3.63 percent at the bottom uh it was 2.1 roughly so they're up about a point and a half something else I think I've said a couple of times but I actually wrote for the first time on Saturday was that for the rest of 2023 I only want you to do great deals normally we're building portfolios full of good or great deals I just think for the next four months I want you to have a little bit more discipline I want you to light right a little bit more aggressive offers I suspect as rates continually head above eight percent that our job you and me is to find motivated sellers so you're gonna have to write offers they're going to tell you no they're going to follow up watch Days on Market I think days on Market very quickly could go over 40 days I'm currently looking at anything over 30 days so again only great deals at least through January 31st at least through January 31st as we get ready to go into the spring selling season you and I can revisit that you and I can see what's going on if you don't know what I'm talking about good or great do yourself a favor get the course how to get started one rental at a time it's only 3.99 and start doing the work get a buy box look at it every day track change see what's going on we want to we want to do great deals not average not bad not good deals for the next four months hopefully you saw on on Friday I believe I released a video giving you a tour of the Blind Center this is the location where we are going to spend about 20 hours together where we're going to host a party a concert and 11 or 12 speakers to really help you the full-time employee talk about money side hustles stocks and of course a lot of real estate out of state long term whatever you want to talk about you're going to get to drive the discussion uh it is in Vegas over President's Day weekend so travel should be relatively easy you can travel out Monday so you can be with us all day Sunday and um yeah general admission is only 199 is less than 10 bucks an hour for you to be able to ask multiple millionaires questions I look forward to seeing you there I truly hope this sells out in the next two or three weeks we've already sold about 50 of the tickets so if you don't want to miss it sign up now and you can go ahead and watch the video of the tour uh you can watch it in the playlist I think I called it uh walkthroughs you can see the 10 minute video and if you pay attention you can actually see Olivia which a lot of you have asked to meet she will be there as well don't know if you saw this but the UAW has invited President Biden to join the picket lines I believe that is going to occur on Tuesday uh so you can expect a bunch of pictures uh you can expect a bunch of video and whatnot of President Biden on the picket lines uh this is just part of the process I'm on record talking about Labor getting theirs uh the stockholders and Executives for 40 years have gotten the disproportionate share it ain't gonna be that way for the next four to five years and this is just another example of it going forward JP Morgan JP Morgan that with a scary call on oil JP Morgan thinks oil could get to a hundred and fifty dollars a barrel in the next couple of years wild how about the week ahead uh we got some key stocks we got Costco on Tuesday paychecks on Wednesday and Accenture on Thursday on the economic front tomorrow Tuesday new home sales new home sales are actually expected to fall we got case Schiller will it be an all-time record and we get consumer confidence we also get a lot of fed speak this week we've had Susan Collins and others already and then on Friday we get pce personal consumption expenditures pce core being the favorite of all metrics for the Fed so that will be must see TV and we'll also get consumer sentiment Wall Street Journal wrote a very interesting article about the housing market always being about Supply it's interesting when you hear the talking heads and the Crash Pros talk about demand demand demand affordability they often forget or have forgotten or frankly don't understand that there's a supply function and what we've seen over the last year or so is the housing market is driven by Supply right the lack of Supply to move up the luxury you can clearly see where there's stress in the system and then again folks just to kind of round it out Jeremy Grantham says that home prices are doomed to fall 30 percent I'll take that bet Mr Grantham I don't see it happening but folks like subscribe content remember we do the daily financial news five days a week live and then we do it two days a week recorded so we can keep our streak going of I think it's almost four years now so folks take care of yourself have a wonderful day bye
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