U guys think housing will go down similar to the 2008?
- Thread starter GzUp
- Start date
Any real estate agents on the Coli?
No, not specifically due to covid. Will the market slow? Yes. But the 2008 crash was because of overleveraged and overextension of credit to the unqualified within the actual housing market. A market crash /= a shutdown.
No one knows how long this will last, thus far I’m seeing allegations of tightening restrictions for lending and underwriting but it’s too early to tell whether withdrawals (which I’m seeing more than price reductions) will be enduring. In any case, it will reflect how many buyers have been taken off the market due to loss of income-the people living check to check are on the fringes of home affordability anyway.
No one knows how long this will last, thus far I’m seeing allegations of tightening restrictions for lending and underwriting but it’s too early to tell whether withdrawals (which I’m seeing more than price reductions) will be enduring. In any case, it will reflect how many buyers have been taken off the market due to loss of income-the people living check to check are on the fringes of home affordability anyway.
Do u believe housing prices will go down?
Lenders are smarter about who they lend to, but rate caps can't really adjust to a pandemic and millions of people unable to work
The mortgage finance system is going to be totally reliant on the federal reserve
The FED just issued thst $2 trillion dollar relief package and Congress didn't include mortgage relief as part of the bill
It really is going to come down to who Congress is going to protect: Homeowners or mortgage companies
The mortgage finance system is going to be totally reliant on the federal reserve
The FED just issued thst $2 trillion dollar relief package and Congress didn't include mortgage relief as part of the bill
It really is going to come down to who Congress is going to protect: Homeowners or mortgage companies