[quote=deadzone][quote=an][quote=deadzone]Well many folks who bought recently at these all time crazy prices are already stretched thin.
Also, many homeowners took out HELOC in last couple years for remodeling, etc. That was huge during Pandemic.
And if these are Tech workers, their portfolios have been dropping big time this year as the value of their stock options are going up in smoke.[/quote]
Data please. YOu can’t be stretch thin and still get a loan today. Do you have proof that underwriting has changed to allow people to be stretched thin?
HELOC for remodeling, proof/data?[/quote]
People have always been able to take debt to be stretched thin. That worked as long as the asset bubbles (RE, stocks, etc) kept rising and the economy was good.
Now asset prices are cratering and the economy is about to go into recession. A lot of margin calls are on the way. We’ll soon find out who has been swimming naked as the tide is most definitely on the way out.[/quote]Again, who are these people? What’s the % of these people are home owners vs renters?
