Subj : Re: New to this
To   : Dumas Walker
From : poindexter FORTRAN
Date : Sat Apr 19 2025 04:47 pm

-=> Dumas Walker wrote to BORAXMAN <=-

 DW> Yes.  The last time that happened, we eventually had a housing crisis
 DW> that set off a recession.  In that event, the housing prices rose well
 DW> above what the houses were worth.  There was an eventual correct (at
 DW> least in my area) and house prices fell back closer to their actual
 DW> worth.

 It wasn't just the housing price bubble, though, it was subprime loans
 written as adjustable rate mortgages increasing that caused the default
 rate to increase, yes?

 DW> The neighborhood I am in now has a slighly different problem.  There
 DW> are a lot of pensioners who live here and own their homes.  If they
 DW> have kids, chances are they have at least one that is a deadbeat who
 DW> hangs around waiting for them to kick off in hopes that they will wind
 DW> up with the house.  It is still mostly nice, but for how long I don't
 DW> know.

 We have a couple of those - this is a bedroom/senior community, and
 there are some 30-something "kids" still living at home, partying in
 their parents basement and so on.

 DW> For whatever reason, the builders around here started mostly focusing
 DW> on housing developments where the houses start off in the mid-6 digit
 DW> range, which is not affordable, and probably barely have a yard.  They
 DW> don't seem to be building new "starter homes."  Apartments and condos,
 DW> OTOH, they build those, too.

 Any time an old house torn down around here, you know a McMansion twice
 the size right up against the fenceline is going up.








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