Mon, 1 March 2021
Will a housing price crash occur when homes can be foreclosed upon again?
Sean O’Toole of PropertyRadar.com and I compare 2007’s housing crash with 2021’s health crisis-related recession.
“Home prices never go down.” That’s what many people said in 2005! Wrong.
Learn the housing differences between the last recession and the current one: lending standards, housing supply, regulatory change, construction labor force, construction supply disruptions, household formation.
Sean tells why we will not have a big dump of housing supply on this market anytime soon.
There will still be some delinquent homeowners after the forbearance period ends.
The Biden Administration plans to work with borrowers that have federally-backed mortgage companies and provide them with repayment plans.
Prediction from Sean: mortgage rates will dip below 2%.
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