Fellow home owners, are you ready for the housing market to crash?
Fellow home owners, are you ready for the housing market to crash?
I know I'm supposed to want it to keep going up as a wealth generator or whatever.
But like... I wouldn't be able to afford the monthly payments if I bought my house right now and it's scary. Also none of my friends are buying homes, none of them are even renting full places. Just like renting rooms.
So what are your feelings home owners of lemmy?
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I don't know why you think that's going to happen. Supply is down and demand is as strong as ever. Policy to make housing more plentiful is woefully lacking.
What's the mechanism for a housing crash?
Just the fact that no one can afford housing any more, and lots of folks bought property to rent out at this super high rate, so to not lose money they have to rent out homes for like 2k+ for small rentals.
So the most likely way, if it all, is all the rental properties are forced to go on market at the same time, and then they don't get sold so get foreclosed on.