I respectfully disagree. My point is, this is not like 2008-2009 when millions of homeowners had zero equity. If a homeowner loses his or her job today, even if they purchased their home over the last 24 months, chances are they still have at least 10% equity. They can sell their home vs. walking away. The obvious caveat is if we go into a mega-deep recession with long-rates north of 7%. That could push housing prices down enough to wipe out a lot of equity. But still probably not to the magnitude of the 2008 housing bust.
Genius. Thanks for putting all this great info out.
Good stuff as always! Keep it up
One key factor missing in your analysis is job losses. Which has been occurring and will accelerate.
I respectfully disagree. My point is, this is not like 2008-2009 when millions of homeowners had zero equity. If a homeowner loses his or her job today, even if they purchased their home over the last 24 months, chances are they still have at least 10% equity. They can sell their home vs. walking away. The obvious caveat is if we go into a mega-deep recession with long-rates north of 7%. That could push housing prices down enough to wipe out a lot of equity. But still probably not to the magnitude of the 2008 housing bust.