‘I feel trapped’: how home ownership has become a nightmare for many Americans
Scores in the US say they’re grappling with raised mortgage and loan interest rates and exploding insurance premiums
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The real shame is that we need another housing crash. Only this time, we bail out the homeowners so they can pay down the difference between the value and the mortgage owed. That would have kept the banks whole and let people keep their homes, and it would have brought loan rates and property values back to earth.
You mean help the people? But that would be communism. No sir. This is america.
The housing market isn’t crashing as long as there’s considerable corporate ownership of single-family residences. They strategically list and sell properties to juggle neighborhood prices while maximizing profit.
the giant corporate home owners have started liquidating their positions at 25% below market, especially in Florida and Georgia.
That’s good to hear. Prices are still insane in NY, and if you filter by “for sale by owner,” you lose most of the results.
Not really good for the people buying in those areas that will soon be uninsurable because of climate risk.
Don't be silly. We need another housing crash to bail out the banks and fuck the homeowners again. It's the American way!! /s
Edit: punctuation