I was wondering myself if the bankruptcy changes are being handled as a "must get done" before the bubble bursts.
"I was wondering myself if the bankruptcy changes are being handled as a "must get done" before the bubble bursts."
That's an interesting point. In actuality, this legislation will only steepen any housing correction because people will have to sell when they don't want to thereby increasing supply and bringing lots of people to the market that MUST sell.
I don't know.... it's just as likely to have the opposite effect.
Note how housing sales have risen to even higher levels as rates have begun to rise? It's likely to be a bunch of people trying to "buy now before it's too late and rates go up!"... this MAY sap demand significantly later on (essentially compressing buying on the front-end of a rising rate cycle).
The bankruptcy legislation COULD do something similar as hundreds of thousands of people who were trying to fight off going bankrupt give up "before it's too late".