No Joke: 90 Year Mortgages Hit

As interest rates surge, borrowers are getting desperate ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ "You're not going to lose the house. Everybody has three mortgages these days." "But at 19%... you didn't even bargain with the guy!" The classic exchange from Ghostbusters (the good one, not the horrible remake) comes to mind when looking at the real estate market in the Great White North. Desperate Canadians are getting hammered by interest rate increases. As a result, Canadians are turning to 60, 70, or even 90 year mortgages. In other words, you are basically renting. You may be able to handle the payments, but you aren't getting anywhere when it comes to paying off the principal. Could this be a sign of things to come? YOU WILL OWN NOTHING AND BE HAPPY, as the ads say... The truth is, we are moving towards a world where few people will really own anything. Housing, capital, real assets... This is a great winnowing process. We owe it to ourselves and the people we care about not to be caught on the wrong side of this. The sakes are escalating at a terrifying pace. Keep Moving, Corey Snyder Publisher, Rogue Investing P.S. Jeff Bishop is embarking on a mission: $120,000 in successful trades in the next 12 months! Join him July 11th at 2pm EST as he explains the new system he is using to accomplish this goal (his win rate this year is 82%) This presentation is FREE of charge, but you [MUST CLICK HERE]( to reserve your seat. WORD ON THE STREET Jobs Numbers Surge - More Than DOUBLE Expectations - Recession Keeps Getting Postponed - Private sector jobs were up by 497,000 in June - which is insane considering just 220,000 were expected. Annual pay was up 6.4%. The unexpected jump in payrolls could complicate the Fed's efforts to cool inflation. - Treasury Yield Hits High - Two-year Treasury yields hit a 16-year high on fears the Fed would hike interest rates again. The yield hit 5.12% - last seen on June 15, 2007. The 10-year Treasury jumped by 9 basis points. The next decision date for interest rates is July 26 - Mortgage Rate Hits 7.22% - All right, maybe the 60-year mortgage will come to America too. The average rate on the 30-year mortgage hit 7.22%. It's the highest rate since early November. - Threads Hits 30 Million Accounts - Mark Zuckerberg expressed optimism about the beginning of Meta Platforms's Twitter-killer, Threads. "Feels like the beginning of something special, but we've got a lot of work ahead to build out the app," he said. He claimed 30 million people have started accounts. HOT SPOTS: What's Going on in Geopolitics - Americans Hold Secret Talks With Russians - A group of former senior American officials has held secret talks with the Russians, in what looks like feelers to end the conflict in Ukraine. NBC News reported that American officials affiliated with the Council on Foreign Relations met with Russian Foreign Minister Sergey Lavrov in April. There's been no official meetings between the Russian government and the Biden Administration on Ukraine. - Let Them Eat Bitterness - Chinese youth, suffering from high unemployment, are reacting with scorn to an admonition by President Xi Jinping for them to endure hardships. "The countless instances of success in life demonstrate that in one's youth, choosing to eat bitterness is also choosing to reap rewards," said President Jinping, using a poorly chosen phrase repeatedly. - Wagner Boss Back In Russia - According to Belarussian President Alexander Lukashenko, Wagner leader Yevgeny Prigozhin is back in Russia. "As far as Prigozhin is concerned, he is in St. Petersburg," said Lukashenko. "He is not in Belarus." CUTTING EDGE: What[']( Happening In Tech - Musk Sues Meta - Elon Musk argued that Threads, Meta's new Twitter-killer, engaged in "systematic, willful and unlawful misappropriation" of Twitter trade secrets and IP. "Competition is fine, cheating is not," said Musk. - GPT-4 Now Generally Available - AI continues its relentless march. All OpenAI API developers will now be able to access GPT-4, the most advanced text-generating model. "We envision a future where chat-based models can support any use case," said OpenAI on a blog post. - Reefer Madness - The push for marijuana legalization has taken a major hit as a new study showed those who had been diagnosed with cannabis use disorder were twice as likely to report depression. They were also four times as likely to be diagnosed with bipolar disorder - including psychotic symptoms. Maybe those old propaganda films were on to something FOR YOUR CONSIDERATION --------------------------------------------------------------- "That’s as close to a sure stream of revenue as one can expect in biotech." research has been a disaster for the biotech industry. But the FDA just made a big move - and unmade a big mistake. Mr. X briefs you on the stock that you can use to take advantage. [FINALLY PROGRESS IN ALZHEIMER'S WAR]( Enjoying Dawn Report? Learn something, made some money? SHARE YOUR STORY WITH US OR TELL US HOW TO SERVE YOU BETTER. 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