BTW, this will remove a lot of potential home buyers from the market. I expect prices to drop significantly. There will be less flipping, probably, as well.
When more people have to come up with an actual down payment, there will not only be less buyers (deflating prices), but sellers will lower prices to get people into their homes.
Coupled with the last interest rate increase, I think the second bubble is about to burst
Not sure you’re right. Where I live, supply is low, demand high. All I want is small government. Backing out of the maze of regulations and taxation will upend the economy, for awhile.
These mostly would be buyers with credit scores well below 600
Call them future foreclosees
And call the homes they didn’t buy “Not taxpayer insured and bank owned detritus”