Are a bunch of FORECLOSUREs again around the corner?!?!?

Supply and Demand (Occupancy Rate, a Home near me Sold in only days of going on the Market and IMO at a VERY HIGH PRICE for the size of the Home) issues causing Housing Value Inflation. Availability of Purchasable Properties helping inflate Rent Rates. Deportations potentially going to lesson that pressure (A LITTLE, not a whole lot). Past, Present, Future, Interest Rates folks may have locked into or awaiting them come down so-as able to ReFinance. Taxation. Etc./more…

NOT going to be a long piece, but just cutting/pasting an exchange from NEXTDOOR SocialMedia App…

 

from: https://nextdoor.com/p/qfSfmdysYQkL?is=notification_center 

Nichole Boeve

Annapolis-Van Born·

3 days ago

 

Rent is $1350!

Armando Muco

6 days ago

Hello !

 

MY RESPONSE: 

Wow, but sadly NOT SURPRISING. We are clearly in another HOUSING OVER-INFLATED VALUIZATION BUBBLE that will burst again (like 2008) at some point. Could be 6 months could be 6 years could be double that but will burst none-the-less eventually and things will reset a bit then (but, too, sadly, many like 08 once Houses revalue down to closer to REALITY some will be underwater and like 08 walk away creating a bunch of foreclosures and the problems that will bring). Keep looking, ther are still some OLD PROPERTY OWNERS that the Property had long been paid off and using RENTAL income as part of their Retirement supplement and willing RENT FOR LESS than they “could” get – but admittedly hard to find those opportunities as those already Renting are NOT eager to move out and indeed due to the Bubble in no position able to BUY with Housing so overly-inflated in values as it is. I need to do a CTP Show* episode on this. Would you be willing to come on and discuss from RENT perspective?!?!? I also know the MI-HOUSE (DeSana) has put forth a proposal to roll-back valuization on the TAX side to help lower Taxes on the Properties at least as well as trying move to elimination of MI Property Taxation entirely cuz SENIORS who own their Homes should NOT be having pay RENT to the State and be being TOSSED from Home’s they’ve lived in entire Life due to STATE FORECLOSURE due to Owner not able to pay the Tax Levy.

And adding to this problem – INTEREST RATES that MUST COME DOWN. Some are locked into lower Rates from Real Estate moves a decade or so ago; but many into Rates that they want (ALL DEMANDING) need come down at the Federal level so-as Mortgage Rates down-stream can start to lower and give RE-FINANCE opportunities.

I have, too, written about the TAX situation before:

/opinion-conservative/2023/01/why-i-oppose-the-current-federal-sales-tax-scheme-some-fellow-republicans-are-proposing-principlesnotpersonalities-3651841.html

 

/tea-party/2022/07/michigan-taxes-and-our-migop-migov-candidates-in-this-2022-election-cycle-2710485.html

 

/tea-party/2021/12/tea-party-taxes-time-for-property-tax-reform-again-in-mi-2675345.html

 

/alternative/2021/12/time-for-property-taxes-reform-again-in-michigan-3762987.html

 

/tea-party/2015/04/michigan-safe-roads-yes-campaign-breaks-campaign-law-to-push-tax-increase-agenda-2552120.html

 

 

And, for-the-record, regarding 2008. People SIGNED THE MORTGAGES back then. THEY were RESPONSIBLE for what they agreed to (JUST AS NOW). Those who signed ADJUSTABLE RATES knowing they could, likely would, GO UP, as they were very low in 2008, in HOPES and PRAYERS (HOPE is great, but it IS NOT A STRATEGY (as discussed in MANY of both my Fictional and Non-Fiction #books)) that their INCOME could, would, adjust up FASTER/HIGHER than the amounts of any upward adjustment on their Loans AND LOST THAT BET then when went underwater when Housing Values adjusted DOWN then just WALKED AWAY (many just stopping payments and awaiting Foreclosure) creating the CRISIS. NOT “Predatory” Loans BS – as again people HAD OPTION to SIGN OR NOT SIGN and THEY SIGNED ON THE BOTTOM LINE and I get TIRED of the GOTTA BE A VICTIM somehow mentality.

 

* “ChristiTutionalist Politics” podcast (CTP) 
[ Some CTP episodes contain additional/separate Copyright materials, Used With Permission ]  
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- Joseph M Lenard – linktr.ee/jlenarddetroit  (JosephMLenard.us / TerrorStrikes.info/interviews)  
- other podcasts with Joseph M Lenard (partial listing): https://ivy.fm/tag/joseph-m-lenard   and   https://www.podchaser.com/creators/joseph-m-lenard-107ten9NBc/appearances
[ Stomping Rock Four Shots - Alex Grohl and Little Polish Genie - Ted Lenard Jr. & The Polka Kings; Used With Permission Under License ]  

some “Behind-the-Scenes” Video versions found via DailyMotion, BitChute, Brighteon, and mainly…    
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See too Show transcript on buzzsprout (tinyurl.com/ChristiTutionalist) for addl bonus material  there-in.