Quote:
Originally Posted by -TK-
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Did you see the home equity loan numbers from Q2 2020 through now? Big sheesh. That will compound the crash.
I'm locked and loaded with feelers already out to pick up a couple more properties during the coming downturn. Just a waiting game now. My purchases between 2008-2015 were some of my best investments to date. They all have at least doubled in value and each brings in $2,000-$2,600 a month in rent here in CO.
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Based on the US Census Bureau alone, 7.4% of homeowners are late on mortgage payments. Of those late on mortgage payments, 18.5% think they are heading to foreclosure in the next 2 months, while 81.5% think they will be able to catch up on payments.
If these numbers are accurate (and its just a government census poll so who knows), then 1.36% of people who own homes are expecting to get foreclosed on pretty soon.
According to
Pew Research, in 2008 and first quarter 2009, the national foreclosure rate was 1.8%.