Forbearance is causing inventory to be artificially low. Once that program ends, inventory will skyrocket unless we have a V-shapes recovery, which is unlikely. Interest rates can be negative, but people still need to be employed to pay their mortgage or buy a new home.
Yes, the forbearance programs are definitely having an effect on market supply and for now it's essentially helping 'plug holes in the boat.' Big time. We will have to watch what policy makers and lenders do with this program moving forward.
With 30% unemployment, and small businesses going under in droves, I don't see how the boom can continue. I think the homes being taken off the market is from people who were planning to buy, but now feel they cannot, so they are going to stay put. That means taking the home they were going to sell off the market. BUT, that also could mean a drop in demand, since that person won't be buying either. So, the "pent up" demand may not be there.
The biggest issue is when everyone wants to sell but no one buys. So I’m just glad they’re taking their homes off the market. Yes I don’t see a boom this year either.
What do you think the future holds? It's anyone's guess.
What's happening in your area? I've seen some markets actually go up if you can believe it.
I like that your real estate videos aren’t just recycled news articles like most. And they’re entertaining!
Thanks! Yea enjoy making original content.
I really appreciate these timely updates and your use of props to illustrate your point!
My cactus thanks you.
Very informative and entertaining! I look forward to your.
video on the rental market
Thanks! I appreciate the feedback! And ohh man, hope I make that video right! haha
Great content, Bob! Especially for someone who’s looking to move soon
I'm glad it helped! Hope your move goes well.
Forbearance is causing inventory to be artificially low. Once that program ends, inventory will skyrocket unless we have a V-shapes recovery, which is unlikely. Interest rates can be negative, but people still need to be employed to pay their mortgage or buy a new home.
Yes, the forbearance programs are definitely having an effect on market supply and for now it's essentially helping 'plug holes in the boat.' Big time.
We will have to watch what policy makers and lenders do with this program moving forward.
Ha ha)) so funny! Thank you! Great work!
Glad you enjoyed it!
With 30% unemployment, and small businesses going under in droves, I don't see how the boom can continue.
I think the homes being taken off the market is from people who were planning to buy, but now feel they cannot, so they are going to stay put. That means taking the home they were going to sell off the market.
BUT, that also could mean a drop in demand, since that person won't be buying either.
So, the "pent up" demand may not be there.
The biggest issue is when everyone wants to sell but no one buys. So I’m just glad they’re taking their homes off the market. Yes I don’t see a boom this year either.