Well at least that will create bargain buying opportunities for the truly wealthy. The rich always seem to get richer in a crisis.
Watch small oil drillers go bankrupt, while the large companies buy their land and equipment for pennies on the dollar.
You see the trend!!!
Many years back, we considered building a home on Ocean Isle, the next island down from Folly. It would have to be a rental for us to afford it (a second home). Financing then was great, the lot was cheap, we knew a builder down there. After crunching the numbers, including setting it up fully furnished as a rental...we still would’ve been losing a minimum $300 a month initially. Of course, increasing rents/home value might’ve turned the loss into a profit eventually. Of course also, hurricanes and “down” markets could’ve bankrupted us. The final nail in the coffin was our insurance company of 20 years telling us they weren’t insuring anything from I-95 to the coast. We stepped back.