Submitted by B3stAuD1t0rofA11tiME t3_10qdx1o in wallstreetbets
This is driving a huge pivot from new housing builds to apartment builds.
Housing foreclosures will hit all time highs in Q3/Q4.
When you lose your house they want to lock you into a long term rent agreement which will be 3+ years.
Most people will choose this option because it will be fixed and will be told it’s a hedge on annual rent increases.
This will allow the smart money to scoop up properties at fire sale prices.
Just my 2 cents…
NickFF2326 t1_j6pfgiu wrote
What’s gonna drive the foreclosures when everyone is locked into fixed rates already? Unless unemployment goes much higher, that shift isn’t happening soon.