Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
This is why I think the predictions are wrong. There are some industries hit hard by the pandemic... but the vast majority of people I know were able to use it to save money and there is a massive pent up demand out there for real estate and other things.
Lockdowns are good for housing. People are not moving and changing jobs, so fewer houses on the market. Supply/demand. On the other hand, people are being protected from foreclosure, but eventually the back mortgage payments will come due. Something like 40% of Americans are behind on mortgage and rent no and it is getting worse with the elimination of the $600 unemployment additive. That could put a lot of people in the streets and a lot of houses on the market. Prices might tumble. It's all a big unknown.
Lockdowns are good for housing. People are not moving and changing jobs, so fewer houses on the market. Supply/demand. On the other hand, people are being protected from foreclosure, but eventually the back mortgage payments will come due. Something like 40% of Americans are behind on mortgage and rent now. That could put a lot of people in the streets and a lot of houses on the market. Prices might tumble. It's all a big unknown.
My husband works in the corporate office of one of the biggest home builders in America. There was a report from research a few days ago that say even though home sales are still up, foreclosures are starting to go way above normal.
Just saying. We are seeing all the signs of a housing market crash coming just like 2009.
Lockdowns are good for housing. People are not moving and changing jobs, so fewer houses on the market. Supply/demand. On the other hand, people are being protected from foreclosure, but eventually the back mortgage payments will come due. Something like 40% of Americans are behind on mortgage and rent no and it is getting worse with the elimination of the $600 unemployment additive. That could put a lot of people in the streets and a lot of houses on the market. Prices might tumble. It's all a big unknown.
I’m afraid of this as well. We’ve been in our house close to 30 years and have seen the bubble break twice on the market in that time. It’s coming, we all know it but when? And in the meantime people have to have somewhere to live.
skyrocketing asset prices should not be used as a sigh of a "healthy" economy. It's a sign their policies are causing inflation. Has the average wage gone up 24% to compensate? People are wage slaves because they keep lining the top 1% with money and they use that money to buy real estate and rent it out. The average person can't decently afford a house with the current house prices and wages. Then again people are equally irresponsible with their budgeting and finances... nobody is putting a gun to their heads and forcing them to pay these prices.. but like I said the top 1% literally has infinite money cheat codes so they can afford it.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
