Do think there will be a rise in foreclosures in the coming years. If so is the market going to crash like the last one we had.
I hope not.
Let’s hope not but for those of us in the United States the next four years are going to be a economic struggle.
Let’e hope not is right.
The 2008 crash was partly due to the lenders lending 100 to 110% on homes that the borrowers couldn’t afford in the first place. They’re didn’t make that mistake again and have been pretty strict with no less than 20% to 25% down and more stringent on screening borrowers.
So yes, there will be some because of those who lost there jobs because of Covid, but I don’t think it will be near the same as we saw in 2008-09. JMHO.
Last recession was great to me. I was in bed with Fannie Mae getting foreclosure ready to market in western Montana. Very lucrative.
Yes, in certain regions. Market will not crash like the last one. Movement of the population will generate different financial climates and opportunities. IMHO!
I think in areas where there are a lot or rentals/2nd homes you may see more foreclosures. If mom/dad lost their job or business went south the first thing they will stop paying is for their rental property or 2nd home. Plus with COVID not as many people traveling for vacation rentals, etc so less rental income. Time will tell I guess…