We are continuing our look at some of “The Forty Prophecies” the Lord shared with me prior to MorningStar’s 2022 Vision Conference. Though I have been sharing these prophecies for a while, I believe they will be fulfilled this year.
Here is one of the prophecies I shared: “Unfortunately, we will see a continued rise in inflation and a nosedive in residential and commercial real estate values. There will be a significant housing mortgage crisis, but not as bad as 2008. Precious metals and land will become better, safer investments.”
This has been partly fulfilled. Inflation has remained persistently high despite the Federal Reserve’s interest rate hikes. In late 2023, the annual inflation rate was estimated at around 3.7% from the previous year—higher than the optimal rate of 2% (Rugaber, 2023). That continued into January 2024, with the U.S. Department of Labor reporting a 3.1% inflation rate compared to the same time last year (Henney 2024).
Mortgage demand has hit a 28-year low, driven by a surge in long-term mortgage rates. According to the Mortgage Bankers Association, the average rate for a 30-year home loan reached 7.53%, the highest since the year 2000. The rising rates are making homeownership less affordable and are affecting the overall housing market, causing sales to decline significantly (Thaler, 2023). According to the National Association of Realtors, U.S. home sales declined by 18.7% in 2023. That made 2023 “the weakest year for home sales since 1995 and the biggest annual decline since 2007, the start of the housing slump of the late 2000s” (Veiga, 2024).
What has not yet happened? While housing prices continue at a reasonable level, there is a noticeable dip in mortgage demand and, consequently, in the real estate market. In the foreseeable future, this could bring a decline in housing prices, driven by the surge in mortgage rates resulting from higher interest rates.
Biblical principles related to this word:
• The Lord gave Joseph prophetic insight concerning an economic crisis during ancient times, and he was able to receive and implement a strategy that sustained the masses. Likewise, God can raise up “Josephs” today who hear from heaven and develop plans to sustain others when times are difficult.
• Just as the Israelites were oppressed by the Midianites in Gideon’s time, inflationary pressure robs us in the sense that the money we earn now has far less buying power.
• Many Bible scholars believe that the black horse described in Revelation 6 personifies the economic hardship and inflationary pressure that will arise in the global economic system in the last days. In this passage, the scales of the rider represent the scales that are were used in the public marketplace and the rider proclaims that a quart of wheat will cost a day’s wages, implying inflationary pressure (see Proverbs 11:1).
• Regardless of the economic pressures we face, God is still Jehovah Jireh, which means, the Lord is my Provider. He will provide for His people and help them to plan and prepare for times of trouble because He is faithful to His promises.
I was also given the following prophecy: “Gas prices are down temporarily but will go back up.”
This has been partly fulfilled. Gas prices in the United States recently hit a three-month high. Though there are higher prices at the pump, they are lower than they were in June 2022, when the price reached a record high (Bushard, 2024). However, analysts are saying prices could increase because of the ongoing conflicts in the Middle East, including the conflict between Israel and Hamas (Fabino, 2024). Under the Biden administration, the United States has drastically reduced its oil production, shifting us from energy independence to a deep reliance on other nations. This sets us up for more dramatic spikes in energy prices in the future (Robertson, 2023).
What has not yet happened? While gas prices currently remain below Summer 2022 peaks, we await the expected rise in oil prices as a fulfillment of this word. It is likely that the unfolding Israel-Hamas War in the Middle East may contribute to a significant disruption in the oil supply, leading to the fulfillment of this word.
Biblical principles related to this word:
• Scripture commands us to be self-sufficient if possible when it comes to our practical needs. This is why 2 Thessalonians 3:10 commands us: “If anyone will not work, neither shall he eat.” The same is true on the national level: if we have the capacity to meet our own energy requirements and become self-sufficient, then it is foolish to do otherwise. Let’s begin our prayers by asking God to give us righteous leaders who know how to properly steward the rich resources that He has already put in our land.
• An energy crisis is the modern equivalent of a famine because the bulk of our food and retail products are either made with oil, shipped with oil, or both. Just as God told Joseph to store up grain for the time of famine, wise national leaders will store up oil to prepare for shortages.
As I’ve mentioned before, one of the reasons God gives us prophecies is so we have the opportunity to pray into them. Sometimes, prayer can change what actually happens after a prophecy is shared. So, pray for the United States and for our leaders to have wisdom as they look at things like inflation and oil production.
Bushard, Brian. “Gas Prices Hit Three-Month High As Oil Surges Amid Middle East Conflicts.” Forbes, 13 Feb. 2024, https://www.forbes.com/sites/brianbushard/2024/02/13/gas-prices-hit-three-month-high-as-oil-surges-amid-middle-east-conflicts. Accessed 15 Feb. 2024.
Fabino, Alexander. “Gas Prices Tumble, But Will Middle East Tensions Change That?” Newsweek, 13 Feb. 2024, https://www.newsweek.com/gas-prices-fall-middle-east-tension-oil-supply-demand-1869653. Accessed 15 Feb. 2024.
Henney, Megan. “Inflation rises faster than expected in January as high prices persist.” Fox Business, 13 Feb, 2024. https://www.foxbusiness.com/economy/cpi-inflation-january-2024. Accessed 15 Feb. 2024.
Rugaber, Christopher. “Wholesale Price Inflation Accelerated in August from Historically Slow Pace.” AP News, 14 Sept. 2023, https://apnews.com/article/inflation-economy-federal-reserve-f0555881e11423d39d13e5790ebedbe3. Accessed 15 Feb. 2024.
Thaler, Shannon. “Mortgage Rates near 8% as Demand Drops to 28-Year Low.” New York Post, 4 Oct. 2023, https://nypost.com/2023/10/04/mortgage-rates-near-8-as-demand-drops-to-28-year-low. Accessed 15 Feb. 2024.
Veiga, Alex. “2023 was slowest year for US home sales in nearly 30 years as high mortgage rates frustrated buyers.” AP News, 29 Jan. 2024, https://apnews.com/article/housing-home-sales-real-estate-home-prices-d5e85d54ac0c7abd90bb8217e8057875 Accessed 15 Feb. 2024.
Click here to check out Praying Through the 40 Prophecies, a book which offers a unique look at the prophetic ministry and provides insights on how to pray for the days to come.
