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Real Estate - A great UNWIND is COMING


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#1 SemiBizz

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Posted 25 March 2021 - 08:25 AM

If you plan on selling, do it now... above all else, don't buy anything until this logjam clears...

  FHA Mortgage Delinquencies Hit 17.5%. In 30 Metros, over 20%: On the Other Side of a Red-Hot Housing Market

 

US-housing-FHA-mortgage-delinquencies-20

 

 


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#2 12SPX

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Posted 25 March 2021 - 09:07 AM

Wow that's quite a chart gotta say! 



#3 qqqqtrdr

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Posted 25 March 2021 - 09:10 AM

Yep...   Gotta say, I think people are holding on since they have not place to move that is any cheaper...   Selling forces one into apartments that are not cheap..  It is a difficult situation for those who are delinquent.



#4 pdx5

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Posted 25 March 2021 - 01:08 PM

May be because banks are not allowed to evict anybody during the pandemic?


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#5 Rogerdodger

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Posted 25 March 2021 - 07:36 PM

banks are not allowed to evict anybody

 

If you are $10,000 or $15,000 or $20,000 behind in rents or mortgage, you just wait to get forced out and take the credit hit.

You are way ahead of the game, especially if you are getting paid by the government to not work.

Even with bad credit, you can usually rent anywhere with 6 months prepaid.

That leaves you with enough cash to go to the casino!

 

I know people who have more cash now than they have ever had and they have not worked in a year!

 

Locally, our city postponed tax delinquent  foreclosures/auctions for one year.

 

How will this all end?  zipped.gif


Edited by Rogerdodger, 25 March 2021 - 07:50 PM.


#6 blackcloud

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Posted 25 March 2021 - 10:52 PM

Something else I haven't seen mentioned a lot, most mortgage companies offered forbearance to their customers as a result of covid.  That is all

about to come to an end, so they will have the option to pay that lump sum, or refinance.  What has changed since this started?  Interest rates

aren't quite where they were, some folks have a surprise coming.  If they are planning on just taking payments back up at the rate they had

before, ain't gonna happen.