Is a Real Estate crash imminent?

Long Beach & Orange County, CA · Member since 2018 · 11 posts · 7 votes

Hey I am Newbie, and I just read this article. Wanted some more expert opinions on this article and FHA loans and people buying homes with poor credit and low income in today’s hot market. What do you all think? Small-Time Bankers Make Millions Peddling Mortgages to the Poor - Bloomberg Businessweekhttps://apple.news/A-FtZMr0uTJSudDsEPZrF-Q -Matt

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Russell BrazilBusiness Member

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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes

Yes...so you should sell me all your properties at a 20% discount so you can avoid the 30% crash.

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Rob Gillespie
Specialist · Cleveland, OH · Member since 2011 · 1k+ posts · 852 votes
8y
FHA is the new sub prime. I said that back in 2010.
Here is the deal. I may not agree but it is Americas reality.
without financing, we are a third world nation.
EVERYONE is living on a payment plan for everything.
Finance your house, car, boat, motor home, carpet, furniture, jewelry, Heck
I even saw an ad to finance a safe! If I cant pay for my safe, what the heck do
I have to keep in there?! LOL

THE BORROWERS need to take some responsibility for themselves and stop
blaming the banks for their inability to make their payments.
Anyhow sorry for the rant. the point is. We need banks to give folks with
questionable credit loans or this economy is done!
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