Hello, local capitalists, hope you're well. So we hear about the housing market being resilient,

along with the economy and the labor market and whatnot. And it's resilient because these increases in mortgage rates really don't matter

because so many Americans have a fixed rate mortgage, 30-year mortgage at 3% at 4%.

So if mortgage rates are going up to 7, 8, 9, 20,

who cares?

It doesn't impact them at all.

Well, let's think about that for a moment. Is a mortgage payment your only expense as

a homeowner? Answer? Obviously no. Let's go right over to this article from Bloomberg and

connect some dots here. You guys will see what I'm referring to.

When the Homeowners Association comes for your home. So we sit there and think about foreclosures being a

dynamic that only involves your mortgage payment and the bank.

But what we forget about is you can be foreclosed

for a lot of different reasons.

You could be totally current on your mortgage payment.

And if you're not paying your HOA dues,

buy buy house, that house is going for sale in the market.

That's going to increase the supply of housing stock for sale, which very very low and therefore an additional

hundred two hundred thousand homes that come on sale that come on the market for sale is going to dramatically impact the price,

assuming that demand stays the same because as you guys know from watching my videos,

demand right now is pretty much at an all-time low for housing.

So usually if you have 100, excuse me, a million two or a million five homes for sale.

If you have something, you know, 100,000 homes come online for for sale it doesn't really impact the price

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