The price would correct downward. The 100k house (they don't even exist anymore by the way) would be 50k or less.
Remember, people in this country mostly buy a payment. For the payment to remain the same, at 30%, the price would be slashed significantly. As it should. Because right now we have shacks and hovels selling for 2M+.
The price would correct downward. The 100k house (they don't even exist anymore by the way) would be 50k or less.
Remember, people in this country mostly buy a payment. For the payment to remain the same, at 30%, the price would be slashed significantly. As it should. Because right now we have shacks and hovels selling for 2M+.