(03-02-2022, 03:27 PM)harm_less Wrote:as i said there will be bargains to be had, so yes im sure there will be some mortgagee sales, but that will be interest rate driven, not market driven. the mortgagee only hurts when his interest rate increases beyond his means, and is forced to sell back into a soft market. (03-02-2022, 11:10 AM)Magoo Wrote: real estate prices dont go backwards.Being forced into a sale due to an inability to service a huge mortgage would be a pretty easy way to lose money I would have thought, and there's no shortage of over-leveraged home owners out there in danger of suffering that fate currently.
they take longer to sell, there will be bargains to be had
but i dont see anyone losing money
we arent going to see the wholesale carnage of the market as we did in 2008, and even then houses didnt get cheaper, they stopped selling altogether., overnite. the GFC was driven by the sub prime bust in the usa.
so it might take 6 months or a year to sell your house, instead of three days, but i dont think we will see big capital losses.
So if you disappear out of view You know I will never say goodbye