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I wouldn't expect that in 7-8 weeks that prices would be impacted appreciably. But maybe in 6-18 months. If you have a decent amount of people who over-extended
by graton 6y ago
I wouldn't expect that in 7-8 weeks that prices would be impacted appreciably. But maybe in 6-18 months. If you have a decent amount of people who over-extended themselves, they default on their mortgages, houses get foreclosed, and the banks resell them. Then prices might start coming done. But that process takes a long time.
- supernovae 6y agoThe data on how much a property can generate is pretty open data. Most banks are willing to work with owners on re-fi, short term deferments and such and it's not rocket science to convert to full-time rental in lieu of STR. So investors will snap up anything of value and inventory that wasn't profible will just go back to market.