Posted on 10/22/2022 9:01:05 AM PDT by george76
I bet a lot of them are underwater with 6-7 year loans too.
I’ve seen a lot over the years, but this housing market situation from a year (or even less) ago and now is almost unfathomable.
worse... they are under the bedrock under the lake.
several BHPH lots selling cars for way over book value. after a year of abuse these cars are almost worthless.
then you also have the ones that bought recently and got hit with “market adjustment” type fees... they generally are booking out for half to 1/4 of what they owe.
they all have one thing in common, they think I’ll pay the car off for them and they can’t afford to keep it.
The planned-demic was the setup for this “Best Economy Ever*”
*If you happen to be a connected Oligarch.
My daughter’s house has been on the market for 3 months now, not many showings although there are two today. A house across the street from me sold in a week two years ago, whatever could be the difference????
The Federal Reserve can’t allow rates above a few percent for long.
About 14 years ago rates only rose for less than a year on my money market account.
Flippers aren’t actively remodeling and selling.
Most housing inventory is deeply flawed.
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