270,000 homebuyers who bought in 2022 are underwater on their mortgage

quote:

---

What could have possibly gone wrong after printing 40% of the entire money supply in 12 months?

---

Dude this had much more to do with hyper low interest rates and lack of housing inventory

quote:

---

Dude this had much more to do with hyper low interest rates and lack of housing inventory

---

What?

That is correct people bought houses they couldn’t afford

quote:

---

Dude this had much more to do with hyper low interest rates and lack of housing inventory

---

PowerBottom strikes out again

2008 says hello.

quote:

---

Powerman

---

Are you stupid or something?

The inflated sell prices were 100% a lack of inventory.


I think I represent most here when I say, Powerman just quit posting.

The housing bubble was a thing of beauty for those in a position to take advantage.

My neighborhood is about 20 years old, so there were several homes with kids that had moved out and those people really scored with selling. Some of the earliest homes were selling for 4-5x original sale price. Pretty remarkable considering the best pre-covid was 2x.

Sad part is we have a bunch of Asians and Indians now. They are good people, just do not put up Christmas lights . I miss the lit up neighborhood.

quote:

---

Where are you - NoVa?

---

North Texas, where all the Californians are moving

quote:

---

7yrs

---

Well that is the big question. Can they survive in today's current inflationary climate if they had purchased while living paycheck-to-paycheck (i.e. low supply, high demand)? What if we see a huge influx of foreclosures?

this happened after katrina in south louisiana. if you bought in 07-08 you didnt gain value for 3-4 years. In alot of areas you lost value thru 2010-2011. Then the housing market heated up again and it worked out. This isnt an issue if people stay in their home for 5-7yrs and let values recover. Americans have been spoiled for 20yrs with rising home values. I have been a mortgage loan officer for 17yrs. when i first started i always told my borrowers that you needed to stay in your home 5-7yrs before you sold it for it the value to increase before you sold. also the first 5% in equity you gain always goes to the next realtor who sells your home. People need to stop treating homes like cars that you just trade in every 3-5 years.