Allow Me To Translate

"The market has changed, as you know, and we have to move with it in order to survive," he said. He told the employees on the video conference that if they were watching him, that means they have been laid off. About 9% of the company was let go, reports said. Kevin Ryan, the company’s CFO, told the website that "having to conduct layoffs is gut wrenching, especially this time of year, however a fortress balance sheet and a reduced and focused workforce together set us up to play offense going into a radically evolving homeownership market." From Fox News business - Better.Com is an on-line mortgage outfit that recently announced the lay off of several employees via, of all things, a Zoom conference. That's rich.

The Fed has stated that the party needs to be wrapped up and over soon. The housing segment of the everything bubble is over (translation: "evolving"). The bullshit needs to end. Welcome to buyer's remorse if you purchased in the past 18 months. Enjoy the mortgage payments and the escalating property taxes that will never go back to "pre-Covid pandemic" levels (translation, bad case of the flu for most people).