Most Americans Will Be Renting

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…

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VisualMod t1_j6pf084 wrote

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VisualMod t1_j6pf0z5 wrote

>This is an interesting analysis. I agree that housing foreclosures will hit all-time highs in the next few quarters, and that many people will choose to rent rather than buy a new home. However, I think the smart money will be able to take advantage of this situation by buying up properties at low prices and then selling them later when the market recovers.

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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.

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kahuna_44 t1_j6pfwoj wrote

Here’s your 2 cents back. And a beer on the house.

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Meat__Head t1_j6pgeh1 wrote

Replying to NickFF2326 (#1,691,295)

People selling to lock profit and then they will choose to rent instead of buy, while the new owners are underwater and will eventually go into foreclosure due to not being able to afford the payments. Then the people renting can come back and buy the dip on the housing market. It's going to take a long time but that's my guess.

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TeflonShawn42069 t1_j6ph563 wrote

I love renting.

Fuck spending every Saturday at home depot or maintaining a whole ass garage full of tools for chores I didn't want to do in the first place.

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