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Don't get too excited, borrowers have been more thoroughly vetted since the subprime crisis and everyone is familiar enough with the cycle by now that they'll h
by Schnitz 6y ago
Don't get too excited, borrowers have been more thoroughly vetted since the subprime crisis and everyone is familiar enough with the cycle by now that they'll hang on to their houses at all costs, to enjoy the recovery. Barring foreclosures, don't expect there to be a sudden wave of deals to be had.
- ram_rar 6y agoPeople still have to make mortgage payments though? Given, the flush of cars sitting in the dockyard and such high unemployment rate, wont this affect housing prices a tid bit?
- almost_usual 6y agoIt will affect housing prices in working class or service industry oriented areas. If a majority of your home owners are knowledge workers who are remote or bought a home in cash they’ll sit on them. If the knowledge workers get laid off then the aspiring home buyer is also likely to be laid off. People who bought in cash will still sit on them because they will have no reason to sell.
- austincheney 6y agoThat is a pretty loaded assumption about the superior financial security of the knowledge worker. It seems clear from the numbers of developers being laid off and start ups that are financially failing that this assumption is imaginary. The only financial security a knowledge worker has, in this current economic downturn, is the essential nature of their employer or their employer's cash liquidity.
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