I get questions all the time of what’s going to happen in the future and what’s going on. There are reasons to be optimistic about the 2022 housing market, and I’m going to go through those right now. So there have been record sales and transaction volume in the last few years, the last couple of years. And so everybody thinks it’s going to change. You can’t count on it always being the same for sure. It’s either going to head up or it’s going to head down. But it isn’t going to drastically change.
One of the things is, they do not expect a housing CRASH on the horizon in any way, shape, or form. I’ve kind of been saying this for a few weeks. There are worries about this because of the prices, but you have to understand, there is no risky
subprime lending going on out there, and we don’t have an oversupply of homes. Basically what it comes down to is people that are in trouble with their homes; that they’re not able to keep it or, or pay for it. There are still, property there,
they can sell it and make a profit, 9 times out of 10.
Some people in this forbearance might be a little bit tighter than others, and the reason for that is because, if you haven’t been paying your mortgage payment for a year, then all of those payments are going to add up and they’re going to eat up, whatever, gain you might’ve had or some of the gain that you had. It doesn’t look like there’s that many of them out there when it’s spread out across the country, and most people are going to be able to sell it and walk away with some money. So that’s good news for everybody; that we don’t see any kind of a crash on the horizon.
Stay tuned in to tomorrow for Part 2