The Housing Crash 2021,The Truth about The Housing Market Bubble
American families are struggling to get by, relying on food banks and rent forbearance. American young folks are saddled with enormous student loans, unable to find work in their fields, and stuck living in their parents’ basements. American old folks are hunkered in their homes, afraid to even bring in the mail due to the pandemic.
Everyone’s on the brink of utter despair and needs the government to help them.
With unemployment hovering around 8% and growing, and 200,000 businesses never to reopen, along with the soon ending of the mortgage and eviction moratorium. The piper must be paid. And now, with vaccines that will give confidence to sellers to list their properties, the housing market will go from no inventory to oversupply, and I think we all know what that will do!
If our interest rates were raised to the traditional levels, if homeowners could only deduct the interests on their primary residences’ mortgage payments, and if sellers would be taxed 40% on their gain if they lived in the houses for less than 18 months, there would be an OVERSUPPLY OF HOUSING!
A lot of landlords are getting screwed over; when the forbearance is over, a flood of inventory will hit the market. Commercial real estate is dead all over America. Totally dead. Urban office space is going to be empty forever, and suburban space not far behind it. Work from home is here to stay.
The high property tax states are killing off residents, forcing them out of the homes in which they’ve lived for generations. San Francisco is now struggling with a mass exodus of tech workers due to the pandemic, with city leaders warning that this will have a severe economic impact.