Austin Housing Bubble Insanity 210813
August 13, 2021
Emailed to United Nations, Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/CNBC/DMN on 8/13/21
In this commentary, I will explain again why we are in a housing bubble in Austin, TX!
Houses in Austin, TX are worth essentially nothing!
Austin home prices are up 36% since this time last year, report says
BOOMTOWN Austin home prices are up 36% since this time last year, report says
The median listing price for a home in the Austin-Round Rock area is $536,000.
Author: KVUE Staff
Published: August 10, 2021
1,500 Austin homes sold for $100K over asking price since Jan. 1
by: Billy Gates, Alex Caprariello
Posted: Jun 4, 2021
AUSTIN (KXAN) — New data from online real estate brokerage Redfin further illustrates how wild the Austin housing market has been in 2021.
Redfin says more than 1,500 homes have sold for more than $100,000 above asking price since the beginning of 2021 in Austin, and 72 of them sold for more than $300,000 over the asking price.
This insanity is caused by the U.S. Government!
The housing bubble in Austin, TX and throughout Planet Earth is caused by corruption within the U.S. Government! The corrupt U.S. Government is “cooking the books” to print an infinite amount of counterfeit money so house buyers can buy an infinite number of houses and pay an infinite price for these houses!
The corrupt U.S. Government is not operating its fiscal policy with proper accrual accounting (GAAP Accounting) and as a result is running a classic Ponzi scheme, I call it USAPonzi, that is in the process of printing an infinite amount of counterfeit money, I call it imaginary-counterfeit money, by fraudulently borrowing it from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them!
So far, the corrupt U.S. Government has printed $154.7 Trillion of imaginary-counterfeit money so the people in Austin, TX can pay an exorbitant price for their houses and get into a bidding war over who has the most imaginary-counterfeit money to buy the next nice house!
Austin houses will be worth essentially nothing!
When this Ponzi scheme is exposed and this Ponzi scheme implodes and this $154.7 Trillion of imaginary-counterfeit money evaporates, the houses in Austin, TX will be worth essentially ZERO!
The following chart gives a graphical projection of how the corrupt U.S. Government, with the current Ponzi scheme fiscal policy, could fraudulently borrow over a Quadrillion dollars (a thousand Trillion dollars) of imaginary-counterfeit money from the future Americans over the next three decades and give it to the U.S. upper class so the price of houses in Austin, TX can keep going up until someone in a position of power admits that the U.S. Government is corrupt!
We are buying and building houses all over Planet Earth with imaginary-counterfeit money that the corrupt U.S. Government is fraudulently borrowing from the future Americans!
The corrupt U.S. Government is causing the housing bubble by “cooking the books”!
|US National Debt
|Cash Deficit in FY2021
|GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org August 13, 2021
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain USAPonzi and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can also be downloaded from my www.usaponzi.net website.
John W. White