I understood what you meant. My point is that as people let their homes go to foreclosure, they become renters and then there are more renters than ever. Thus rents go up. The bottom of the market is when investors like Blackrock swoop in and buy all the discounted homes and jack up the rents sky high. It is what happened in 2008 and what will probably happen this time, too.
Although... this time, with the ability to work remotely via Starlink, people are not tied to a location (close to a job center or at least close enough infrastructure to get good internet) like they were in 2008, so where prices collapse may be different. Usually, house prices fall most in rural areas and bedroom communities, but this time the worst of the collapse may very well be city centers and people may go live in rural areas on RV's rather than rent. We'll see...
I understood what you meant. My point is that as people let their homes go to foreclosure, they become renters and then there are more renters than ever. Thus rents go up. The bottom of the market is when investors like Blackrock swoop in and buy all the discounted homes and jack up the rents sky high. It is what happened in 2008 and what will probably happen this time, too.
Although... this time, with the ability to work remotely via Starlink, people are not tied to a location (close to a job center or at least close enough infrastructure to get good internet) like they were in 2008, so where prices collapse may be different. Usually, house prices fall most in rural areas and bedroom communities, but this time the worst of the collapse may very well be city centers and people may go live in rural areas on RV's rather than rent. We'll see...