These Are Early Signs Of A Severe Recession

For all intents and purposes, it is beginning to resemble the years 2008 and 2009 once more. The years in question were extremely distressing for our nation, and in many respects, we have not yet fully recovered from the harm that was inflicted upon us during that period.

Unfortunately, a great number of the very same things that we encountered in the past are beginning to occur in our day.

Early signs of a severe recession

To provide just one example, the Great Recession brought about the most severe foreclosure problem in the history of our country, and now, in the year 2024, the number of foreclosures is about to start to increase.

To put that into perspective, the number of fresh foreclosure files in the United States has just increased by ten percent in just one month…

Pundits believe that something like that must not have occurred.

On the other hand, it did. These are early signs of a severe recession.

It is interesting to note that the state of Delaware, which is Joe Biden’s home state, actually saw the highest rate of foreclosure filings during the previous month.

The second place went to Nevada, and the reason for this was the high number of foreclosure applications submitted in Las Vegas.

It is concerning that this is the case. I repeat, it is concerning that this is the case.

When the economy is doing well, Las Vegas is doing even better than it was before.

On the other hand, when difficult times come, things are even more difficult in Las Vegas.

So, let us keep an eye on things and see if this pattern persists.

In the meantime, it has also been reported that the number of foreclosures successfully completed in the United States increased by thirteen percent compared to the previous month.

The number of foreclosures that were successfully finalized in the state of Michigan increased by “a whopping 200 percent”.

When things were at their worst, I remember writing pieces about how real estate in Detroit was selling for one dollar, and how some homes were selling for that amount.

Is there a new housing market catastrophe brewing?

Our time has come for one, without a doubt. Because of the excruciatingly high loan rates, most people can no longer fulfill their dream of purchasing a home.

It is imperative that home prices decrease, and this is likely to result in a wide range of issues if interest rates do not significantly decrease.

It should come as no surprise that a terrible crisis in commercial real estate has already arrived. A crisis that should not exist. These are early signs of a severe recession.

Prices have plummeted across the country, and as a result, a great number of office buildings that were previously valued at millions of dollars are now being demolished.

To be more specific, there is a plan in place in Los Angeles to demolish a huge office building to construct only thirty electric vehicle charging stations.

If we are in fact on the verge of seeing a significant downturn in the economy, we would also anticipate that retailers will be closing their outlets spread out over the United States, and this is precisely what we are seeing right now.

Incredibly, Walmart decreased the number of stores that it manages by 102 during the previous year…

If even Walmart recognizes the necessity of preparing for the worst, this is a concerning omen.

Large employers continue to engage in widespread layoffs from coast to coast, in addition to everything else that is on.

The layoffs at Google are still going

A great number of people were upset when they learned that Vice Media Group is going to lay off hundreds of employees as the company continues to slide further and farther into oblivion.

It was common knowledge that Vice was in a precarious financial situation; hence, the layoffs were not exactly a surprise.

But what is the reason behind Google’s abrupt decision to let off thousands of employees altogether?

Google is one of the most successful firms in the entire globe, and the company is currently awash in cash monetary resources.

When they feel the need to lay off workers in a merciless manner, what sort of a message is it for the rest of the economy?

Regrettably, the reality is that it has become abundantly clear that significant difficulties are on the horizon.

It is going to be such a significant turning point for the economy in the year 2024, and it is also going to be such a significant turning point for the nation as a whole.

Although the current status of the economy will undoubtedly be a primary concern during the forthcoming election season, there are no simple solutions to the issues that we are now trying to solve.

I conclude that these are early signs of a severe recession. Everyone stay safe.