I read the article and that’s all fine and dandy. Yes, lots of people who won’t be able to make their payments. What does that mean for the real estate market? I see plenty of NODs, but banks not foreclosing on all of them. The ones that get foreclosed upon, a few get listed and some just sit empty, and one gets occupied by a banker throwing parties Great Gatsby style.
I just want to know what’s going to happen. Are people just going to live there for free forever? Are the banks going to just hold on to them for years while they sit empty? Or is everyone just waiting for inflation to kick in and then houses will go back to peak prices. And will it go to peak prices and beyond even? Some of these buyers just bought to flip, you know.
