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Yeah but if the market collapses and you lose your job, you'll be forced to sell at a huge loss

• BoorishBears 9y ago
  How does a drop in the local housing market lead to you losing your job? A general market crash causes many people to lose their jobs, it doesn’t discriminate against homeowners. The renters are probably in a worse position in that case too, stop paying rent for a month and you’ll be evicted the next month. Stop paying your mortgage and the bank will at least work with you for a little longer.
  • loxs 9y ago
    Yeah, like the landlord won't work with you for a little longer in a global crash? They will be very eager to start looking for new tenants? Of course, if your job is remote, a local crash won't make you lose your job, but if it's local... prices just don't drop locally without reasons.
    • BoorishBears 9y ago
      Around here most management companies probably wouldn’t care. These aren’t small mom and pop operations but companies with straightforward rules. You’d probably get an eviction notice before a human was in the loop.
  • gshubert17 8y ago
    Sometimes the cause is a loss of employment at a large local employer, and the effect is a drop in the local housing market as former employees try to sell and move to places with a better job outlook.