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magnoliasmanor t1_j4vbtc1 wrote

Reply to comment by Hot_Introduction_270 in For those of you that want that Island life. My coworker brought this into work today. by MavDrake

This is why the recession were walking into will be felt in 2 ways. The bottom half of America it will be awfully difficult, the top half won't notice. If you have a mortgage that you've had for >1 year you'll be just fine. I really feel for those left behind. I hope they get their chance.

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Hot_Introduction_270 t1_j4vgkzf wrote

I think until rates get back into 4-5% you will see people holding onto their homes if the can pay their mortgage.

I have a 15-year at 2.15% that I will not be giving up.

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magnoliasmanor t1_j4w13nu wrote

Exactly. That's why I don't think anything major in price corrections in real estate will happen. There won't be any distressment for 98% of people out there with a mortgage.

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