Re:Fed plans to ‘reset’ the housing market–raising likelihoo...
by ianai on Friday June 17, 2022 @09:21AM
(#31777726)
That really makes the point starkly. It also makes me wonder how much of the current housing valuations are tied to investors being in the market. I wonder what would push those investors to sell their holdings, too. (I imagine the routine maintenance is probably handled well in the short term, but maybe becomes determinative in the long term?)
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Re:Fed plans to ‘reset’ the housing market–raising likelihoo...
by soderfoo on Friday June 17, 2022 @02:04PM
(#31781985)
Investors, presumably, would slowly and strategically sell off assets in their portfolio to minimize their losses.
I had a front row seat to this in 2010, during my stint as a creditor's rights attorney.
It was this odd tango of homeowners who would strategically default, and creditors dragging their feet throughout the foreclosure process.
It was implied that as long as the property was sufficiently maintained, the creditors would waive the deficiency judgement when they decided to foreclose. They would try to limit the number of foreclosures in a neighborhood or zip code to prevent saturating a given areas market.
Kind of a brilliant win win. No cost living for up to 3 years for being a good caretaker. That's the only bright side to it. It was savage and emotionally taxing, I'm glad to be a debt now.