The house is up fo sale

[MileHighGrowler]

(10-10-2021, 01:16 PM)fredtoast Wrote: I know interest rates are low.  But just look what happened during the last housing bubble.  Many people ended up walking away from their mortgage when it was twice the value of the house.  Why keep paying on a $300K mortgage when the house is just worth $150K?

I think that really depends on where you are.  There are some places in the country where it's probably an artificial bubble, created by the shortage of people selling their homes compared to the people wanting to buy.  

However, I know in areas like Denver, we just literally don't have enough housing for the number of people who live and are moving here.  We are several years away from building enough new to even that out, which would also mean the numbers of people moving would need to slow.  For the market to "crash", we'd have to reverse the trend, and dramatically so.  So effectively, there is no reason to think values will drop again unless there's a major national economic collapse that puts a significant number of homes into foreclosure.