Housing Bubble 2: Return of the Ugly

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A community for discussing and documenting the second great housing bubble.

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SeattleRain@lemmy.world

A massive bubble in the South is about to pop (lemmy.world)

submitted 4 months ago by SeattleRain@lemmy.world to c/housing_bubble_2@lemmy.world

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https://x.com/nickgerli1/status/1810284154451378414

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[–] GBU_28@lemm.ee 2 points 4 months ago (1 children)

That's untrue, sub 4 was completely available to qualified buyers of "normal" status/income.

[–] SeattleRain@lemmy.world -2 points 4 months ago (1 children)

For rentals? For borrowers with little to now down? Not really. And these borrowers didn't stop with one rental, they'd get several sometimes dozens. That's why you saw so many real estate Tik Tokers during the pandemic.

[–] GBU_28@lemm.ee 3 points 4 months ago (1 children)

Where did rentals come up? I'm discussing purchases.

I don't get information from TikTok, I get it from professionals

[–] SeattleRain@lemmy.world -1 points 4 months ago* (last edited 4 months ago) (1 children)

Exotic loams liken DSCRs are only used to buy investment properties. Investor demand is what's driving the shortage and exploding home prices. Just like in '08.

Yes many primary residency borrowers got 4 percent on traditional loans. But investors didn't because they were in a buying frenzy from 2019-2022. They couldn't wait for traditional mortgages, these were the supposed "cash buyers" that were infamously waiving inspections and appraisals. The FHA isn't going to let you do that.

Go ahead and get your news from "professionals" who were denying the existence of a bubble at all until this month.

[–] GBU_28@lemm.ee 1 points 4 months ago

I'm more of a silt guy