Any ideas on what will happen? Will it be like 2008? Is it a good idea or bad to own real estate, even if you have a mortgage on it?
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The idea that it will collapse to the point that known one will be around to collect and that all debt will be forgiven is naive if not an out right lie. Some one will by the banks debts and assets. They will own the mortgage and thus the property they will collect on it and you will continue to pay.
Remember the lies that Obama spewed. Brainwashed people that voted for Obama thought that all of their debts would be forgiven and they would live rent free?
Boy, where THEY surprised.
Life doesn't work that way. Expect to keep paying your bills as always. If the banks collapse, someone else will pick up the mortgages and keep collecting the money. Don't get caught in a trap of thinking life will be free. It won't be.
Unless you are renting or paying a mortgage during the Wu Flu and then you bet a pass