I’m not real estate expert, but I believe real estate is cyclical. This downturn will recover eventually, I think. At least historically that seems to be the case. It may take many years, for sure. But if someone bought before the peak and are not forced to sell b/c of job transfer, divorce, job loss, etc, then they may have staying power. It would not be denial to take it off the market and wait it out a few/several years.
This theory certainly wouldn’t apply to flippers or people who are upside down and in constraints. Those people will have to come to terms w/cutting their losses.
I was fortunate enough to ride out the last boom/bubble burst. Admittedly I bought at the peak the last time and sold prematurely, but I was able to live in a nice house during that time and walk away ahead.
Are you of the belief this market will never recover?
