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It wouldn't make any difference to those who own their homes outright, unless they were planning on trading up, in which case is it would be a positive, or down
by hanoz 9y ago
It wouldn't make any difference to those who own their homes outright, unless they were planning on trading up, in which case is it would be a positive, or down, a negative. Those who overleveraged could indeed find themselves in difficulty, however I fully expect they will get bailed out by the very people they priced out of the market by overbidding.
- jeffreyrogers 9y agoWell, if they were planning on trading up, now the home they were going to sell to purchase a new home is worth less too, so it comes out in the wash. In either case, it makes their net worth look worse on paper.