I am extremely concerned by what I am seeing in the housing market. When the Federal Reserve decided that it was going to start aggressively hiking interest rates, it was obvious that there would be a housing crash. I repeatedly warned my readers that prices would start declining and that home sales would fall precipitously. Needless to say, that is precisely what has happened. In fact, last week we learned that home sales have now dropped for nine months in a row…
Home sales declined for the ninth straight month in October, as higher interest rates and surging inflation kept buyers on the sidelines.
Sales of previously owned homes dropped 5.9% from September to October, according to the National Association of Realtors.
This is already the longest streak of declining sales ever recorded, and this new housing crash is just getting started.
But of course what we have already witnessed has been pretty breathtaking.
According to Zero Hedge, U.S. home sales in October 2022 were 28.4 percent lower than they were in October 2021…
This monthly decline pushed the year-over-year drop in existing home sales to -28.4% – its worst level since 2008!
Sadly, things are likely to get even worse in the months ahead.
The following are 3 major factors which will make 2023 a historically painful year for the housing market…
#1 The Federal Reserve
Fed officials keep assuring us that interest rates are going to go even higher.
This is literally suicidal behavior, but they are going to do it anyway even though they fully understand what this will do to the housing market.
In fact, an economist at the Dallas Fed just published research which shows that U.S. home prices could soon fall by as much as 20 percent…
U.S. home prices could tumble as much as 20% as the highest mortgage rates in two decades threaten to trigger a “severe” price correction, according to research from the Federal Reserve Bank of Dallas.
Fed policymakers need to strike a delicate balance as they try to deflate the housing bubble without bursting it, Dallas Fed economist Enrique Martínez-García wrote in the analysis published this week.
#2 The Employment Market
Officials at the Federal Reserve also know that hiking interest rates even higher will cause unemployment to go up.
We have already seen major layoff announcements at large corporations all over the nation, and now we can add Carvana to the list…
Carvana is laying off about 1,500 people, or 8% of its workforce, Friday following a free fall in the company’s stock this year, a weakening used vehicle market and concerns around the company’s long-term trajectory, according to an internal message first obtained by CNBC’s Scott Wapner.
The email from Carvana CEO Ernie Garcia, titled “Today is a hard day,” cites economic headwinds including higher financing costs and delayed car purchasing. He says the company “failed to accurately predict how this would all play out and the impact it would have on our business.”
If the Fed continues to raise rates, eventually millions of Americans could lose their jobs.
And because the vast majority of Americans are barely scraping by from month to month, all of a sudden we could have millions of homeowners that are unable to pay their mortgages.
Just like in 2008 and 2009, that would cause a catastrophic spike in foreclosures, and the ripple effects would be absolutely devastating for Wall Street.
#3 Underwater Mortgages
During the last housing crash, millions of homeowners found themselves deeply underwater on their mortgages as home prices fell rapidly.
If home prices end up plunging 20 percent or more in 2023, we will once again have vast numbers of Americans that owe far more on their homes than they are currently worth.
In 2008 and 2009, large numbers of people that found themselves in such a situation decided to simply walk away from their mortgages.
If the same thing were to happen again, it would cause an extraordinary amount of pain for lenders. So let us hope that such a scenario does not materialize.
Unfortunately, we continue to get more numbers that indicate that we are heading into a very serious economic downturn.
For example, we just learned that the Conference Board’s index of leading economic indicators has now fallen for eight months in a row…
The Conference Board’s Leading Economic Indicators index showed that conditions further deteriorated in October, with the gauge down 0.8% from the previous month. That follows a 0.5% decline in September.
“The U.S. LEI fell for an eighth consecutive month, suggesting the economy is possibly in a recession,” said Ataman Ozyildirim, senior director of economic research at The Conference Board.
Meanwhile, yet another survey has found that the vast majority of U.S. consumers are currently living paycheck to paycheck…
A new employee report said on Friday that as many as 60% of U.S. consumers are living paycheck to paycheck.
The report, a collaboration between data analysis PYMNTS and LendingClub, said 55% of nearly 3,500 people surveyed said they have limited spending capacity, and 49% are shifting their shopping preferences.
The report said that 66% of those living paycheck to paycheck have slashed spending.
Most Americans will not be dealing with the harsh economic environment that is ahead from a position of financial strength.
When things get really bad, millions of people will suddenly not be able to pay their bills.
In particular, I feel really bad for those that purchased homes at or near the peak of the market. So many of them are going to end up losing those homes.
We may have been able to avoid another housing crash if our leaders had pursued much different policies.
But that didn’t happen, and now we are going to experience an immense amount of chaos in 2023 and beyond.
The Federal Reserve created the largest housing bubble in American history by flooding the system with money and pushing interest rates all the way to the floor.
Now they are violently bursting that bubble, and the months ahead are going to be extraordinarily painful for the housing market.
***It is finally here! Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.***
About the Author: My name is Michael and my brand new book entitled “End Times” is now available on Amazon.com. In addition to my new book I have written six other books that are available on Amazon.com including “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of these books you help to support the work that I am doing, and one way that you can really help is by sending copies as gifts to family and friends. Time is short, and I need help getting these warnings into the hands of as many people as possible.
I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.
I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is definitely a great help. These are such troubled times, and people need hope. John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” If you have not already done so, I strongly urge you to invite Jesus Christ to be your Lord and Savior today.
Article cross-posted from The Economic Collapse Blog.
Starting the Day With a Scripture-Inspired Roast Helps Center Your Thoughts on Eternal Truths Amid Temporal Pressures
The world can seem chaotic, especially right after we wake up. Many believers start their mornings reaching for something familiar — a hot cup of coffee — yet end up settling for mediocre brews that do little more than deliver a caffeine jolt. The daily grind of life, with its endless distractions, news cycles, and responsibilities, can leave even the most faithful feeling spiritually parched alongside their physical fatigue. What if your morning ritual could do more than wake you up? What if it could ground you in truth, nourish your body with exceptional quality, and quietly advance a kingdom purpose at the same time?
That’s the promise — and the reality — behind Promised Grounds Coffee. This Christian-founded company doesn’t just roast beans; it approaches every step as an act of worship and discipleship. By selecting only the top 10% of specialty-grade beans, ethically sourced from dedicated farmers in Central and South America, and small-batch roasting them with reverence in Austin, Texas, Promised Grounds delivers what many describe as the best coffee available — never burnt, never bland, but rich with origin stories and layered flavors that honor God’s creation.
From the vibrant Psalm 27 Roast (a light, bright medium option) to the bold yet peaceful 2 Timothy 1:7 Decaf, each bag carries a Scripture verse that turns your daily pour into a gentle reminder of faith. And through their Ounce Per Ounce Promise, every ounce of coffee you enjoy provides an equal ounce of clean water to families in need via partnership with Filter of Hope — literally brewing hope for body and soul, one cup at a time.
The challenge for today’s Christians runs deeper than finding a decent cup. In an age of convenience-driven consumerism, it’s easy to support companies that dilute values or remain silent on matters of faith. Many believers want their everyday choices — from what they drink to how they spend — to reflect discipleship rather than just convenience. Promised Grounds solves this by weaving Christian excellence into the entire process: beans nurtured with prayerful stewardship by farming families, roasted as an offering rather than a commodity, and packaged with Bible verses to encourage a mindset of gratitude and purpose from the first sip. Reviewers consistently praise the smooth, rich profiles — whether enjoyed black in a drip maker, iced on a warm day, or shared in fellowship — noting how the quality stands toe-to-toe with premium secular brands while delivering something far more meaningful.
This integration of faith and flavor addresses a real need in Christian households and ministries. Busy parents, church leaders, and remote workers alike report that starting the day with a Scripture-inspired roast helps center their thoughts on eternal truths amid temporal pressures. The coffee’s exceptional character — bright citrus notes in lighter roasts or deep chocolate undertones in bolder ones — comes from meticulous selection and careful roasting that respects the bean’s natural gifts rather than masking them. It’s the kind of coffee that elevates a simple quiet time, fuels productive workdays, or sparks meaningful conversations when shared at Bible studies or outreach events. And because it’s ethically sourced with integrity, every purchase supports sustainable livelihoods for farmers who treat their crops like family harvests.
For those leading churches or small groups, the impact multiplies. Promised Grounds offers bundles and options perfect for hospitality ministries, turning ordinary coffee service into an opportunity to point people toward the living water of Christ. Imagine greeting visitors with a warm cup whose very bag carries God’s Word — a subtle yet powerful witness that aligns with the Great Commission. The company’s Texas roots and commitment to “brewing hope” resonate especially with believers who value American enterprise paired with global compassion.
Of course, quality alone isn’t enough if the experience feels out of reach. Promised Grounds keeps it accessible with practical perks like free shipping on orders over $40, sample sets for discovering favorites, and thoughtful add-ons such as faith-themed mugs. Whether you prefer whole beans for fresh grinding, grounds for convenience, or even bulk options for larger households and ministries, the result is consistently superior coffee that makes discipleship feel integrated rather than added on.
As you consider how to align even the smallest habits with your walk with God, Promised Grounds Coffee stands out as a refreshing solution. It tackles the dual problems of subpar daily sustenance and disconnected consumption by offering a product that genuinely excels in taste while advancing a mission of clean water, farmer dignity, and scriptural encouragement. Believers who make the switch often describe it as more than a beverage upgrade — it becomes part of their rhythm of gratitude, a daily invitation to remember that every good gift comes from above.
If you’re ready to transform your mornings (and perhaps your church gatherings) with coffee that honors both exceptional craftsmanship and Christian values, I encourage you to explore what Promised Grounds has to offer. One sip at a time, you’ll be nourishing your body, refreshing your spirit, and participating in something far greater — all while enjoying what truly is among the best coffee available.
