Will US Property Market Collapse Soon ?
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26xh.0712@21:1/5 to
All on Sun Jul 7 21:36:51 2024
XPost: talk.politics.misc, alt.politics.usa, alt.politics.republicans
We are now hearing more and more economists and
property gurus saying it. Between sky-high mortgage
rates and JoeFlation eating up more and more all
spare cash plus more and more biz just shutting down,
a lot of people who bought homes even a few years ago
are getting to the point where they just can't KEEP them.
They will have to "downgrade", or, if tardy, will just
lose everything and be living in their payment-overdue
little cars.
No, don't buy those eventual repo cars, you will never
get the smell out of them - stale beer and badly-
wiped ass in all the upholstery :-)
Now the "collapse" figures aren't AWFUL - maybe 30%
of buyers. That's still a lot of people, but we are
not talking a property apocalypse where land sells
for two bucks an acre and nobody HAS two bucks.
We kind of went through all this before - and not
ALL that long ago. People learn NOTHING. Again we
saw the property-price bubble expand and expand,
always the promise of 'flipping' for double the
money. Go ahead, take out big loans, YOU CAN'T LOSE !
Ummmm ... yea ... everybody loses.
DO note that govt promises to prevent such bubbles
NEVER materialized. There are a FEW, big donors,
who make big money from this cyclic process on
the upside AND the downside.
--- SoupGate-Win32 v1.05
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