Iceland’s Housing Marketplace Is About To IMPLODE! – The Bubble Will Burst!

Josh Sigurdson talks with author and economic analyst John Sneisen about the drastically overpriced actual estate in Iceland as their housing bubble inflates to world report degrees.

Iceland has the highest household value growth in the world with seventeen.eight%! That is crazy!

John breaks down how central bank fascination rates and massive credit card debt based marketplace manipulation is bringing down the housing marketplace and why this will be of epic proportions.
Josh and John also break down what people need to do to safeguard on their own. We can communicate all working day about how amazing it was that Iceland jailed their bankers, but they just got rid of the devices earning the problems and replaced them with some others. The script carries on to play out. Changing the central planner is not going to adjust the problems of central scheduling!

Keep tuned as we proceed to break this difficulty down! This difficulty is popping up all above the world as banks difficulty collateralized credit card debt obligations/mortgage loan backed securities just like they did in 2007-2008. A storm is coming.

Movie edited by Josh Sigurdson

Josh Sigurdson
John Thore Stub Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

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48 thoughts on “Iceland’s Housing Marketplace Is About To IMPLODE! – The Bubble Will Burst!

  1. In Iceland, I recall housing mortgages are linked to inflation. So as inflation increases, your mortgage debt increases. So as their inflation escalates, housing prices follow it. Most housing bubbles are caused by topping out of the Chinese economy caused hundred of billions to flood out to invest in housing and property outside the country to preserve their capital. But the Chinese have since clamped down.

  2. I'm a Icelandic university student, and I have some points.
    I feel like from what I heard in the video above you don't seem to know much about our government but you seem to think you know enough to criticize it. Why is that?

    First of all you mention how we jailed the bankers, but now there are just new bankers doing the same things the old ones did. I don't believe you're correct there.
    What the old bankers did was lending money from the banks to companies, to buy shares in the same banks that lent the money, with collateral in the shares themselves. They did that to inflate the value of the bank. This is no longer practiced, as the FME (Icelandic SEC) is better, and the government owns a big part in the banks. Also people realized that it's not smart in the long term.
    The problem that now exists is a housing bubble. Currently housing prices are rising fast. For some reason you did not mention the cause for this. The (by far) biggest cause for this is the rise of tourism in Iceland. Every summer, all hotels are fully booked but the demand for tourism isn't satisfied. People see the demand, and rent out houses for AirBNB, which is still largely unregulated. The tourists are ready to pay a lot, so this is really profitable. Private debt has nothing to do with this, as the value behind the debt far exceeds the debt itself.
    You also didn't mention our currency, the króna. The Icelandic króna (ISK) is an independent currency, and if I remember correctly it is
    the smallest independent currency in the world.
    The tourist industry, and our other export industries are currently in overdrive. That means the demand for ISK is very high, but due to the fact that our economy is very small on a global scale, the supply isn't enough for the demand. The price of ISK rises, and has risen a lot in the past 7-8 years. For referance, in 2009 you could buy 1 GBP for 208 ISK, but today you can buy I GBP for 131 ISK.
    Because of the króna rising, the price of goods in Iceland rises for the tourists, and it is becoming very expensive for people to travel here. I bring this up, because you seem to insist that a crash will come. I don't believe the current position will result in a crash. Now it is very easy to say "a crash will come", because crashes will always eventually come, but to assume that every given economic position will result in a crash is not the right way to go about it.
    I believe the tourist influx will slow down, causing a mild recession and a weaker króna. We will then be back on track a short while later due to our other export industries blooming, because the weaker króna causes the prices on our export goods to fall for the global economy.

    Preaching for self-sustainability in Iceland is immature. There is no way to be self-sustainable in regards to food in Iceland due to weather. I doubt our climate would support more than 100.000 people, which is a third of our population.

    So all in all you seem to be sceptic toward our government and our central bank. I would like to know how you come to that conclusion, as I can't see how any of the economic problems are caused by our government, and I can't see how there is anything our central bank should do differently, as the people in Iceland are doing very well for themselves in general.

  3. From a free market level? Thereare no freemarkets only debt slavery.
    The problem is that currency is created as a debt. Capital is lent into existance, prior to the labour and it needs to be reversed. there is no money only debt.
    "Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration". Abraham Lincoln.
    There cannot be a dollar collapse because all currencies are dollar derivatives. these are all controlled by the same people. The gold price has to be controlled because that is the dollar and all currencies only threat.

  4. What?!
    Bubbles are a manipulation by banks, to generate short term, destructive profit. They are the ones that create debt traps and then they blame the government.. Except, the banks designed the legislation just for this purpose and paid off the legislators to pass it. So, STFU!
    Iceland is the only country in the world to challenge these crooks, So peddle your shit somewhere else!

  5. What crash?Queen bee "Print Janet Print"at the FED and"Print Zhou Xiaochuan Print"at the PBOC along with their puppet masters at the BIS will print and print,as they have done in recent history and more importantly lie.Since the beginning of 2017 they have printed and bought $1.7 Trillions worth of worthless assets to prop up the system,expect the decimal point to move dramatically to the right in coming months.These CBs and BIS are like Warren Buffet on steroids taking everything private,what's stopping taking all of the Wiltshire private and removing income to us peasants in our pensions to their portfolio.

  6. Hold love, compassion and optimism in your heart and mind and all will be well for you as it burns down.
    I have heard horrendous storms are
    on the way so a little rice and a few beans would not go amiss.

  7. Once again I find you spoutin some kinda sewer. Work it BABY….. !!! Ha Ha HA I pray for Iceland and the world …. FEAR NOT STAND STRONG CARE FOR ONE ANOTHER QUIT DUMPING MONEY INTO A FAILED SYSTEM

  8. Here's why it is govt. policy to inflate high prices. High house prices are popular in countries where there is high home ownership. However, more and more young people are forced into becoming renters and a point is or already has been reached where high house prices are more unpopular than they are popular, a tipping point.Young voters must use their vote to elect politicians who will address high house prices.
    There is a second and more binding reason why it is govt. policy to inflate high prices. Having allowed banks to lend as much as they like under neoliberalism, the govt has had to step in as the lender of last resort bailing out insolvent banks. Falling house prices put banks' loan books under water meaning they require bailing out or they face bankruptcy. Mark to market shows they are buck naked when the tide goes out.
    All the vested interests collude to prop up the housing market. Land owners, banks, the govt., planning authorities and real estate agents together between them ensure the supply of new and second hand housing falls short of the demand for it. In Ireland the National Assets Management Agency was set up, similar to TARP. They actively throttle the supply in order to ensure there are always more buyers than sellers, and when there is a glut like there was before the credit crunch of 2008, they took over all the excess supply and mothballed it. Then they micro-managed the stock by packaging the good stock up and selling it off to predatory companies like Blackstone, and letting the rest, the ghost estates in rural areas, go to rack and ruin to be demolished. The money to pay for this comes from US. ALL OF US, and the result is austerity. The banks debts are socialised. In Britain the Conservative Party actually got away with blaming over generous welfare spending for the austerity! The electorate bought it because the British electorate are kept deliberately ignorant by their media because the financial services sector has such a vice-like grip on power.

  9. "Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

  10. I cant believe how many people have fallen into the private debt bull shit.
    If you cant afford it , don't buy it.
    Mainstream media is pushing people in to believing that credit debt secures your future and your retirement.
    Get your free credit score. So that if you have credit available to you, use it.
    Mass debt.
    Mass consumerism.
    Mass materialism.
    Mass stupidity.

  11. Don't they require a 20% down payment for home purchasing, as for money, what difference does it make if you let it sit in a bank earning nothing or sticking it in your home safe, at least the banksters can't nail you with a bail in.

  12. "Same s____, different package (referencing Iceland)!" No big revelation. It's only through a genuine conversion through the Catholic Church that real change can occur.

  13. The Globalists want to shift economic systems from the one we have now to a worldwide energy-based system: the infrastructure is about finished (the "SmartGrid"), and now they're working towards collapsing the old system. We little people are (pardon my French) fucked.

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