US banks are losing money on mortgages for the first time on record, according to a new research report from the Mortgage Banker’s Association (MBA). The report, which dives into the latest stats from 2022, reveals a precipitous drop in revenue for financial institutions that issue real estate loans to businesses, investors and everyday Americans. […]
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Gold has seen a significant increase in value in 2023, with spot prices rising from $1,823 per ounce to the current price of $1,937 per ounce. However, Harry Dent, founder of HS Dent Investment Management, believes that this trend may not continue in the near future. Dent predicts that gold may lose value to the […]
While the crypto markets have taken a bashing in 2022, it hasn’t exactly been rosy for US stocks, bonds and real estate either.
It’s been a torrid year for investors, and not just those in crypto, with United States (U.S.) bonds experiencing their worst year in centuries and U.S. stocks pulling back nearly 20% since 2022 began.
As of Nov. 30, a Financial Times report noted that a traditional portfolio consisting of 60% stocks and 40% bonds will have seen its worst performance since 1932, when the U.S. was in the midst of the Great Depression.
Meanwhile, tech stocks, which some theorize have a correlation with cryptocurrency prices, haven’t had a great year either.
An index tracking the performance of U.S. companies in the industry recorded a loss of 35.76% for the year.
Household tech giants such as Netflix, Meta, Zoom, Spotify and Tesla have all had particularly difficult years as well with their share prices falling in the range of 51% and 70%, according to Yahoo Finance.
Even the “safe as houses” real estate sector has started to show signs of pain, with the most recent data from the Federal Housing Finance Agency showing that U.S. house prices were stagnant through September and October.
These stock and sector declines may help put the current crypto winter into better perspective, noting that total crypto market cap fell from $2.25 trillion to $798 billion throughout the year, representing a drop of 64.5%, and crypto billionaires recorded huge losses.
Some of the crypto crises that have occurred throughout 2022 include the bankruptcies of FTX, Celsius and Three Arrows Capital, as well as the collapse of the Terra network, among others.
Related: BTC price preserves $16.5K, but funding rates raise risk of new Bitcoin lows
According to a Dec. 30 tweet by investment analyst Andreas Steno, “every single asset class” is down significantly in 2022, and real estate is soon to follow.
Every single liquid asset class is down A LOT this year and yet I keep hearing that Real Estate will whether the storm OK
— AndreasStenoLarsen (@AndreasSteno) December 29, 2022
No it will not.. It just lags.
With the approaching tsunami of central bank digital currencies (CBDCs) looming ever closer, it shouldn’t come as a surprise when central banks shill their coins at the expense of sounder assets. Recently, European Central Bank president Christine Lagarde went so far as to say that cryptocurrency is “worth nothing.” According to Lagarde, crypto has “no […]
Personal finance author and investor Robert Kiyosaki is issuing a warning to crypto investors. In a series of tweets, the Rich Dad Poor Dad author shares his fears about the government seizing people’s digital assets. Kiyosaki predicts President Biden’s executive order will pave the way for the government to create its own digital asset at […]
The post Rich Dad Poor Dad Author Issues Dire Bitcoin and Crypto Warning appeared first on The Daily Hodl.
Jamie Dimon, the CEO of one of the biggest financial institutions of the world, JPMorgan, has once again let the world know about his stance on bitcoin and cryptocurrencies. Dimon stated that whoever borrowed money to purchase bitcoin was, in his opinion, a “fool.” However, his personal opinion has not clashed with the fact that […]
All the recent money creation from the Federal Reserve wasn’t enough, according to a few American bureaucrats, as three politicians from the House Financial Services Committee are urging U.S. president Biden to replace Fed chairman Jerome Powell with someone who will address “climate risk.” AOC, Tlaib, Pressley: ‘Climate Change Is a Warning of the Potential […]
Homebuyers in the United States have found difficulties acquiring single-family homes after the year-long business shutdowns and lockdowns that followed Covid-19. It seems there’s a new wave of homebuyers in the U.S. real estate market, with buyers stemming from hedge funds, pension funds, clearinghouses, and financial services companies. The weight of real estate property under […]
The Federal Reserve and America’s big banks have significantly inflated home prices across the U.S. according to a number of statistics. In many towns across the nation, home sales are facing bidding wars and certain regions are seeing property shortages. One report notes that homebuyers are bidding against “pension funds and Wall Street types,” as […]
