Monetary Matters with Jack Farley A Foreclosure Wave Is Coming | Chris Whalen on FHA Mortgage Loans, Tariffs, Bank Valuations, and Payment Companies
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Mar 23, 2025 Chris Whalen, a banker, author, and founder of Whalen Global Advisors, shares insights into the impending foreclosure wave linked to FHA loans. He discusses the delicate state of the U.S. housing market, highlighting risks for first-time buyers and the growing issue of loan delinquencies. Whalen also analyzes the effects of tariffs on the economy and critiques the performance of both traditional banks and payment companies like PayPal and Stripe. His expertise sheds light on how political leadership is shaping financial landscapes.
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Trump's Deflationary Policies
- Chris Whalen believes President Trump's economic policies will be deflationary, similar to Andrew Jackson's in the 19th century.
- Trump's policies aim to dismantle government support for the private sector, mirroring Jackson's dismantling of the central bank.
Housing Subsidies and Reform
- US housing subsidies inflate home prices, exacerbated by the Fed's actions during COVID.
- Whalen supports housing reform but cautions against rapid changes to avoid market instability.
Current Housing vs. 2008
- Current housing problems stem from high prices and unaffordable rent, unlike the 2008 subprime crisis.
- The Federal Reserve's reluctance to lower asset prices contributes to the ongoing affordability issue.
