Hello fellow rebel capitalists hope you are well so we have breaking news in the real estate market

some new data has come to the surface that suggests the real estate market has already been crashing, but they have been cooking the

books through financial engineering to make it seem as though the housing

market, the prices are going up, when in reality they're going down.

I like to call it the Enron real estate market that we have in the

United States. Let's first and foremost go over to a clip from one of my favorite

podcasts. It's called Forward Guidance. And a guy by the name of Jack Farley does this. And if you guys don't watch this podcast or listen to it, I would highly recommend it. It's fantastic. But he's talking to a gentleman a market analyst named Warren Pies and

they discuss something that I didn't even know about it's called a mortgage rate buy down.

Hopefully I'm getting that right.

A mortgage.

Yes, a mortgage rate buy down.

And I didn't even know this was a thing, but when I started listening to this and connecting some dots, I realized that this is really propping up the market and these mortgage rate buy downs that these home builders have been giving

are quickly going away and they'll discuss that in this clip. But also this has been giving us a mirage that the market is even in nominal prices is staying flat, maybe even going up, when in reality, even without adjusting for inflation, the nominal prices have been coming down.

And because it's not in that headline number, although it's the reality of the situation, the mainstream media isn't talking about it at all.

This is really shocking stuff.

So let's go over to this clip first, and then we're going to look at a few few charts and then we're going to go over to Wolf Street

and kind of connect the dots for you guys. Single family has held in mostly because if you think about single family home

market, public builders who their stocks been on fire,

so you think about the Nard, D. Art Horton, they produce 50% of single family homes in the United States, publicly traded builders.

They are able, they finance those houses themselves there, and so they're able to buy down the rates.

That's been a big factor.

So they're able to, it's also just an incentive.

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