sorry to repeat, but IF (if) a drastic rate cut happens next year, shouldn’t it follow that the majority of risky loan holders will refinance and avoid the precipitous ‘reset’ decline ? wouldn’t the price decline in that situation stay limited primarily to entry-level homes, as they recede back to affordability?
if existing owners could afford to hang on to their homes regardless of the decline in values, wouldn’t they tend to keep them ? the glut and excess would then be related to flipper/ entry level homes…..
