(06-16-2023, 06:50 AM)flsprtsgod Wrote:

(06-16-2023, 05:51 AM)homebiscuit Wrote: The country is in a weird place right now. These doomsday predictions are largely a reaction to that.

Layoffs and restructuring is just beginning. Most companies are running budget deficits this year and unlike the federal government they don't have the ability to print their own money. Consumer debt already skyrocketed and with student loans restarimg another hit to income is going to cut the customer demand even more. That means those higher interest rate mortgages are going to climb further and further out of reach for people who should be buying starter or second homes. There are a bunch of danger signs around and something bad has to happen to fix these problems.

I have no doubts a correction is pending. However, I don’t see the shock of 2008. It was obvious to the most casual observer then that the system was upside down. I remember having conversations with my coworkers about how people were buying houses who were clearly not qualified. I saw it all through my neighborhood. Those signs aren’t as abundant now.

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