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Right, all it takes is for the large local employer to suddenly downsize, causing both the loss of job, and the crash of the local housing market simultaneously
by francisofascii 2y ago
Right, all it takes is for the large local employer to suddenly downsize, causing both the loss of job, and the crash of the local housing market simultaneously.
- roland35 2y agoNot just one employer, sometimes the entire industry goes down! Just look at the housing market in Detroit or Youngstown
- llukas 2y agoShouldn't this be priced into the house value in this local market?
- bobthepanda 2y agoit usually isn't because banks are not all-seeing and cannot tell which local employer or industry is likelier to go bust. in that sense all metro areas are often equally risky.