Real estate reset coming to America 25-40% (cash, mortgage, loan)

[JohnDABaptist]

An asset reset is taking place through out the land of america. The bubble has popped. Look for housing to go down 25-40% from what you now think your property is worth. if you bought in the last year you are a bag holder. The more expensive the housing the more of a reset. It is inevitable. Those of you that took cashouts on your refi's will have to continue to pay the note, or you will be in tent city.

Now for those of you with cash good tidings will come. Just let the reset take place. Good things will come to those that wait. Loans once again will only be given to those that don't need them. If you need a loan you will not get it.

cash is king , yet again. Walmart is the New Nordstroms.

[Rakin]

As we learned in 2008-2010 all real estate is local.

Your statements may be true somewhere in the US but not everywhere in the US.

Just like in 2008-2010.

[Vision67]

I'm 70. The mortgage has been long paid off. I never did a cash out re-fi.

Let its value drop to whatever. I don't give a damn. I'm not moving until they carry me out on a gurney.

But that could be sooner than planned.

[mathjak107]

Originally Posted by Rakin

As we learned in 2008-2010 all real estate is local.

Your statements may be true somewhere in the US but not everywhere in the US.

Just like in 2008-2010.

don't forget the op's prediction that the virus was over ..... talk about poor predicting

[Wolverine607]

Hopefully it happens. I have owned my home outright after buying it for cash 7 years ago when I was 29 years old after living with my parents to save to do so.

This will not affect me, but make it better for 1st time buyers and the ones responsible who save to pay cash or at least a good down payment rather than the entitled brats who load themselves up on more and more debt to fuel stupid outrageous price appreciation we have had which has made it worse for today and future generations.

My brother is engaged and likely to get married soon and they plan to upgrade to nicer home. If this happens it will make it more affordable for them to buy a nicer home as well.