EPISODE · Oct 24, 2022 · 1H
The Fed Won’t Rescue The Housing Market | Danielle DiMartino Booth
from Forward Guidance · host Blockworks
Danielle DiMartino Booth, CEO and chief strategist of Quill Intelligence, joins Jack Farley to ring the alarm bell about the housing and auto markets, which by her reading of the data are quickly deteriorating. Booth notes that while the credit quality of mortgages remain high, the mortgage origination market itself falling sharply and, because of a “biblical” quantity of single-family houses about to hit the market, Booth expects housing prices to continue to fall. Booth argues that the car loan market is in even worse condition, as car note defaults mount, the car values plummet and the jubilee-like monetary conditions of 2020 and 2021 wither away. Booth’s description of the car loan market reminds Farley of his reading of the subprime housing meltdown in 2007. Booth and Farley also discuss Bernanke’s Nobel Prize and the means and timing of a Powell pivot. __ Follow Danielle DiMartino Booth on Twitter https://twitter.com/DiMartinoBooth Follow Jack Farley on Twitter https://rb.gy/uesguv Follow Forward Guidance on Twitter https://rb.gy/cy0dki Follow Blockworks on Twitter https://rb.gy/igyzsj __ Founded in 2014 by three cybersecurity engineers, Bittrex is a world-class cryptocurrency exchange with a focus on security and trust. Trade over 150 cryptocurrencies in the United States along with lightning-fast trade execution and dependable digital wallets, all protected by industry-leading security practices. Discover why Bittrex is the best kept secret in crypto trading. Open your account today at: http://fgpodcast.link/bittrex __ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://rb.gy/5weeyw Market commentary, charts, degen trade ideas, governance updates, token performance, can’t-miss-tweets and more. Subscribe to the Blockworks Research “Daily Debrief” Newsletter: https://rb.gy/feusos Find out more about the Blockworks video editor role here: https://blockworks.co/careers/ __ Timestamps: (00:00) Intro (00:21) The Housing Recession (09:39) The Brewing Auto Loan Wreck (19:06) Is The Auto Loan Crisis Systemic? (23:14) Sponsor ad Bitrex (24:42) The "Winter" In Investment Banking (26:38) The Fed Is Not Coming To The Rescue (31:31) The Recession Started In January 2022" (43:26) Will The Fed Bail Out The Treasury Market? (48:37) The Bernanke Doctrine Is Failing (51:10) Ben Bernanke's Nobel Prize: "The Prize Was Premature" (53:57) Is Jay Powell Making The Right Move? (58:38) Closing Thoughts On The Midterms In The U.S. -- Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
What this episode covers
Danielle DiMartino Booth, CEO and chief strategist of Quill Intelligence, joins Jack Farley to ring the alarm bell about the housing and auto markets, which by her reading of the data are quickly deteriorating. Booth notes that while the credit quality of mortgages remain high, the mortgage origination market itself falling sharply and, because of a “biblical” quantity of single-family houses about to hit the market, Booth expects housing prices to continue to fall. Booth argues that the car loan market is in even worse condition, as car note defaults mount, the car values plummet and the jubilee-like monetary conditions of 2020 and 2021 wither away. Booth’s description of the car loan market reminds Farley of his reading of the subprime housing meltdown in 2007. Booth and Farley also discuss Bernanke’s Nobel Prize and the means and timing of a Powell pivot. __ Follow Danielle DiMartino Booth on Twitter https://twitter.com/DiMartinoBooth Follow Jack Farley on Twitter https://rb.gy/uesguv Follow Forward Guidance on Twitter https://rb.gy/cy0dki Follow Blockworks on Twitter https://rb.gy/igyzsj __ Founded in 2014 by three cybersecurity engineers, Bittrex is a world-class cryptocurrency exchange with a focus on security and trust. Trade over 150 cryptocurrencies in the United States along with lightning-fast trade execution and dependable digital wallets, all protected by industry-leading security practices. Discover why Bittrex is the best kept secret in crypto trading. Open your account today at: http://fgpodcast.link/bittrex __ Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://rb.gy/5weeyw Market commentary, charts, degen trade ideas, governance updates, token performance, can’t-miss-tweets and more. Subscribe to the Blockworks Research “Daily Debrief” Newsletter: https://rb.gy/feusos Find out more about the Blockworks video editor role here: https://blockworks.co/careers/ __ Timestamps: (00:00) Intro (00:21) The Housing Recession (09:39) The Brewing Auto Loan Wreck (19:06) Is The Auto Loan Crisis Systemic? (23:14) Sponsor ad Bitrex (24:42) The "Winter" In Investment Banking (26:38) The Fed Is Not Coming To The Rescue (31:31) The Recession Started In January 2022" (43:26) Will The Fed Bail Out The Treasury Market? (48:37) The Bernanke Doctrine Is Failing (51:10) Ben Bernanke's Nobel Prize: "The Prize Was Premature" (53:57) Is Jay Powell Making The Right Move? (58:38) Closing Thoughts On The Midterms In The U.S. -- Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
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The Fed Won’t Rescue The Housing Market | Danielle DiMartino Booth
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