BANC 1: No Money Down Mortgages Are Back

In this episode we cover recent trends in US mortgages and housing, shifts in venture capital markets, crypto and web 3 venture fund raises, recent US job numbers and more.

Episode Summary

- No Money Down Mortgage Are Back

- E-Commerce Trends Lower

- Europe Energy Crises

- Venture Capital Market Shifts

- Crypto and Web 3 Startup Funding

- Growth in Asian Art Markets

- US Jobs and Growth In Hiring

Watch Episode on YouTube

Listen On Spotify

Episode Notes

banc podcast aoverk bank of america no money down mortgagesa

Bank of American Announces Zero Down Payment Loans

The no money down mortgages are starting in 21 cities.

The mortgages will initially only be available to Black and Hispanic communities (paranoia increase because it feels like a way to provide handouts with the intention of seizing assets at any signs of trouble).

It's the first test of a larger initiative from various agencies like HUD, FDIC and FRB to provide credit to specific classes of persons.

This reminds of articles we saw back in August 2007 as shown below

Article written in 2007 right before the Global Financial Crises

More details are at the link below

Housing Inventory Changes

Exploding Inventory

Where people are moving in 2022

Used Vehicle Prices Come Down

Amazon Closes Warehouses

Adobe Data Shows First E-commerce Decline In Over Two Years

Detailed Index Data is at the link below

Recently Los Angeles surpasses Boston to become venture capital hub

Europe sees increasing energy prices

Web 3 and Crypto Venture Funding

Fidelity Bitcoin 401k

Washington State Is First To Taxes NFTs

Seoul Sees Art Market Growth

US Payrolls Rise In August

Bloomberg Terminal vie of August 2022 jobs numbers

Defense contractors plan to hire lots of workers

That’s due to shortages of materials and skilled workers; Raytheon itself had planned to hire 2,000 engineers this year, but due to attrition, it has to hire 5,000, Hayes said.

Episode Timeline

0:00 - Intro

0:55 - Bank of America no money down mortgages are back

02:55 - US Home inventory is increasing

04:27 - US migration trends across states

05:36 - Manheim used vehicle value index

06:19 - Amazon sales and e-commerce are trending down

08:26 - Europe's energy crises continues

09:48 - Los Angeles becomes third largest venture market

10:48 - Web 3 and Crypto startup funding

11:24 - Fidelity Bitcoin 401(k)

12:03 - Washington states taxes NFTs

12:24 - Seoul's Frieze Fair art sales

12:53 - US Payrolls rise in August 2022

13:49 - US Defense industry hiring boom