No. The price is high because inventory is low. Crash happens now it won’t lower prices. Companies will stop building, prices will shoot upwards due to frozen inventory. Picture only million dollar homes with no buyers, sellers can’t sell at a loss, and hundreds of millions of homeless. 2008 happened due to an inflated inventory and prices. There’s no inventory this time around, it’s going to fucking hurt. Great Depression round two. The stock market is going to be the thing to break this go round, and then everything goes.
Hundreds of millions? 1/3 of the U.S.? I don’t really see that. Even if the value of your home drops to $0 it wouldn’t automatically make you homeless as long as you can pay the mortgage or if you have it paid off. And the mortgage payment would stay the same cuz we have 30 year fixed rates.
Hundreds of millions of homeless people in the U.S. wouldn’t just hurt, it would be a total collapse and the end of society as we know it here, not to mention we’d drag most of the world down with us.
I’m OK with that, the housing market is in a giant bubble and it needs to crash. I say that as someone who bought a house at the lowest price point right at the start of the pandemic, combined with an incredibly low interest rate. Theoretically my home is worth almost 50% more now, 4 years later.
tbf, this is probably suburban / rural areas to move back into urban areas that are already having crises. Won’t fix any of the housing markets in high population centers.
Crash the housing market to save the office building market
The housing market needs to crash. Prices nationwide are insane. Bubble needs to pop
No. The price is high because inventory is low. Crash happens now it won’t lower prices. Companies will stop building, prices will shoot upwards due to frozen inventory. Picture only million dollar homes with no buyers, sellers can’t sell at a loss, and hundreds of millions of homeless. 2008 happened due to an inflated inventory and prices. There’s no inventory this time around, it’s going to fucking hurt. Great Depression round two. The stock market is going to be the thing to break this go round, and then everything goes.
Hundreds of millions? 1/3 of the U.S.? I don’t really see that. Even if the value of your home drops to $0 it wouldn’t automatically make you homeless as long as you can pay the mortgage or if you have it paid off. And the mortgage payment would stay the same cuz we have 30 year fixed rates.
Hundreds of millions of homeless people in the U.S. wouldn’t just hurt, it would be a total collapse and the end of society as we know it here, not to mention we’d drag most of the world down with us.
There’s loads of inventory, just not a whole lot available in dense areas. No idea where you’re pulling “hundreds of millions of homeless” from.
Not sure where that loads of inventory is. Listings are at record lows.
I’m OK with that, the housing market is in a giant bubble and it needs to crash. I say that as someone who bought a house at the lowest price point right at the start of the pandemic, combined with an incredibly low interest rate. Theoretically my home is worth almost 50% more now, 4 years later.
Thaaaaat’s a bubble.
tbf, this is probably suburban / rural areas to move back into urban areas that are already having crises. Won’t fix any of the housing markets in high population centers.
Yes, please do!