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re: Sept Existing home sales 6.54 million, highest since 2006
Posted on 10/22/20 at 9:22 am to 1999
Posted on 10/22/20 at 9:22 am to 1999
quote:
this is crazy. i was expecting a housing apocalypse by now.
That will come later down the line. People are WAY overpaying due to low interest rates. Once they go up people will not get back what they paid and will be stuck with their homes.
Also, there are COVID related foreclosures just hiding in the weeds. Expect those to hit like a train once it opens up.
Posted on 10/22/20 at 9:29 am to boogiewoogie1978
quote:
Also, there are COVID related foreclosures just hiding in the weeds. Expect those to hit like a train once it opens up.
This so called train of foreclosures won't hit until late 3rd qtr 2021 at best due to forbearance from the CARES act. The forbearance is 180 days and you can request another 180 days extension on top of that.
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