This has been a potential problem which has bothered me for some time. A drop in demand will slow down home price increases.
Neighbor was replaced by someone from India many months ago and has been unable to find a full-time job. Currently works two part-time jobs and wife works part-time job. Unless he finds something soon he’s going to lose his house in foreclosure.
Would be sooooooo happy to see the value of my home go back to what it was even five years ago. Would save me tons of money for wind and comprehensive insurance and property/school taxes. Many of us who are on fixed income care more about maintaining our current roof over our heads and not having to move than any increase in value.
It’s odd the way economical principles work, isn’t it?
Lowering your property taxes.