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A comment on Lumber crash leads to 'blowout' sales as prices crater. Parent comment

Re:Lumber crash leads to 'blowout' sales as prices crater by throwdecro on Wednesday September 15, 2021 @11:12PM (#28547520)
Watch out for HELOCs in what sense? Who would loan money to a homeowner with an underwater house, not matter how much they clamor?
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Re:Lumber crash leads to 'blowout' sales as prices crater by hpoe on Wednesday September 15, 2021 @11:34PM (#28547658)
People get HELOCs now, intending to flip the house sometime soon. Suddenly the house depreciates substantially in value, they still have to pay for the HELOC and the mortgage for a house that they weren't planning on holding on to and can't get rid of and now they are trapped.
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Re:Lumber crash leads to 'blowout' sales as prices crater by abakker on Wednesday September 15, 2021 @11:46PM (#28547731)
I don’t know about what you have seen, but a lot of of banks are not even offering new HELOCs now.
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Re:Lumber crash leads to 'blowout' sales as prices crater by throwdecro on Wednesday September 15, 2021 @11:39PM (#28547681)
Sounds unsustainable. If enough people do that maybe we'll see some affordable housing soon!
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