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September 1, 2022

Real Estate Bubble Explained 2022

by Bob Schwartz

Real Estate Bubble Explained 2022

Patrick Bet-David breaks down whether or not the housing market is going to crash.

Love ya, but it’s only 700% more foreclosures year over year because of the forbearance programs of 2020-21.
One of the options on these forbearance programs was adding 10 years to your 30 year mortgage and tacking on all the deferred payments to the end of the mortgage.
That’s like saying “evictions are up 8000% yoy” when evictions were basically banned during Covid. You are right about a lot of things, but this stat was just sensationalism.

Real Estate Bubble Explained 2022

Real Estate Bubble Explained 2022 - Phoenix Home Value Outlook

Here is what a real estate mortgage underwriter had to say: I was too young to see what happened in 2008 but as someone who has been working as an underwriter in the mortgage industry since 2010, he is spot on about the mortgage industry. The quality of mortgage applicants has never been this low in my career and a majority of my acquaintances and former co-workers are all out of work.

My mother also worked in the mortgage industry for 30 years and her friends went from making 40k+/mo to having no job. My bonus plan was eliminated two weeks ago and we were told we were lucky to have a job. I also sold my home 6 months ago because it is going to be bad. I don’t care if housing makes one more rally to 15% or even 30% higher, once real estate falls, it falls hard.

 

Real Estate Bubble Explained 2022

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