We knew something like this was likely. In fact, it was probable but it did not fit into the Housing Narrative at the time. It is clear that Home Buyers who recently purchased homes in 2022 are now experiencing "Equity Risk" based on where the Housing Market is headed and many are already defaulting on their monthly mortgage payments. This should come as no surprise, especially when looking at the amount of defaults associated with FHA/VA loans, since the borrower qualifications for those mortgages are more flexible than other loan programs. This is the flip side of stretching your purchasing ability during peak markets.

It is clear to see that the average person is now getting inundated with all sorts of Housing related articles. Most of these are now referring to the changes in the Housing Market, which is currently experiencing a Correction, with a Crash most likely to follow. Even the Chairman of the Federal Reserve, Jerome Powell, stands behind is statement made back in June regarding the fact that he needs the Housing Market to "reset" in order to make Homes affordable for the majority of people, not just the wealthy or the Investor Market.

Are you a Housing Bull or a Housing Bear ? Do you think the Housing Market will continue to slide into Crash territory or are we simply experiencing a short term phenomenon ? Another Wall Street financial firm gives their opinion as to what they believe will occur in the near future. It is very conservative to say the least.

Everyday we are noticing more articles and reports from reputed Economists or their Organizations that are openly discussing the Housing Crash, as well as estimating the amount or percentage of price/Home Value declines. All this is happening just ahead of another significant in interest rates and without any mention of any sort of issue with regards to Distressed Properties (Delinquencies, Forbearance, Foreclosures, etc.). Add those on to the slowdown and correction and the Housing Market should move full on into a Crash.

We often forget that there still appears to be many issues going on with the Rental Community. It was surprising to hear that about 8.5 Million people are behind on their monthly rent payments and that almost 4 Million believe they are at high risk to be evicted. Maybe it is not that surprising at all when you factor in months of inflation, increased job loss, etc. etc. The US Economy is taking a beating at the moment and it will have a trickle down effect to everyone, including Renters.

Important Housing Market Intel: As I am constantly talking to Homeowners, Buyers, Investors, Sellers, etc., I am able to get a good pulse as to what is going on in the Housing Market. Much to my surprise, Homeowners that are in the Foreclosure process, or even facing an imminent Foreclosure Auction Sale do not seem to be taking the process, and the potential outcome, very seriously. This seems to be as a result of a number of factors: first, the belief that the Housing Market and prices are going to continue to rise. Second, the fact that the homeowners have received incorrect advice or misinformation regarding the Foreclosure process and their options/solutions (or lack thereof). And finally, many think that there still is some sort of protection provided by the government (moratorium) or that their Bank or Lender will simply cancel the sale for them. It is clear that many people have gotten use to stimulus and other handouts and they expect that those items will continue and bail ...

Too Little, Too Late? Bank of America recently launched a Zero Down Mortgage Program That Targets minority neighborhoods. As of right now, there are 5 Metro Markets that will serve as testing ground for this new loan program, called The Community Affordable Loan Solution. The participating Metros are as follows: Detroit, Los Angeles, Charlotte, Miami and Dallas. Critics are saying that this program is predatory/discriminatory and comes with additional risks that really doesn't help those communities. These type of loan programs are typically created as a means to generate loan income when overall lending activity is down.

We have gone from all the mainstream media pushing Home Price Appreciation, to now trying to estimate the amount of Price and Value declines. With all the talk, no one is mentioning or considering the amount of potential Foreclosures and how that volume will affect and change the US Housing Market. This video discusses the 3rd Wave of Foreclosures that will be as a result of all the issues surrounding the first and second Foreclosure Waves, as well as the general correction in price points due to the pressure in the US Housing Market.

We have gone from all the mainstream media pushing Home Price Appreciation, to now trying to estimate the amount of Price and Value declines. With all the talk, no one is mentioning or considering the amount of potential Foreclosures and how that volume will affect and change the US Housing Market. This video discusses the 2nd Wave of Foreclosures that will be as a result of all the issues surrounding the Pandemic, including the Foreclosure Moratorium and Forbearance, etc.

We have gone from all the mainstream media pushing Home Price Appreciation, to now trying to estimate the amount of Price and Value declines. With all the talk, no one is mentioning or considering the amount of potential Foreclosures and how that volume will affect and change the US Housing Market.