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I mean that real estate prices get hit hard. The consequences of that may vary depending on where you are, what you've borrowed, and what you own.
by jbay808 4y ago
I mean that real estate prices get hit hard. The consequences of that may vary depending on where you are, what you've borrowed, and what you own.
- ethbr0 4y agoGranted! I just wanted to call out that must-sell (2008, falling market prices, unaffordable adjustable high-rate mortgages, low inflation) is different than can-hold (falling market prices, affordable recent low-rate mortgages, high inflation). If you've got a fixed-rate mortgage at 3%, there are worse forms of debt...
- cwalv 4y agoAnd the must-sell, can-hold (and I'd add must-hold, where you can afford what you have but any buy+sell would be result in an untenable downgrade) statuses have a big impact on prevailing prices .. since you don't get the fire sell busts outside of must-sell