Will Foreclosures Overwhelm The Housing Market?

Thanks for sharing this information!  Have a great day!

The courts have not been doing much with foreclosures much due to the pandemic.  With the easing up of the forbearance  it comes down to how much in homes the banks want to send into the market place, knowing it is an aggressive seller's market and also that they are not in a position to make profits on the backs of those they are evicting

Good morning Joe - in this sellers market I banks would make a profit.  Owners should get their homes listed and pay off the mortgage.

Whilst we have seen foreclosures throughout the pandemic, we see most homeowners have increased their equity and can sell and payoff their loans, if they have somewhere to go that is. also, unemployment is so low that they may very well be able to change jobs and afford the payments on that original mortgage.

Well Joe Manausa, that remains to be seen. In all business cycles there are tops and bottoms so I suspect there could be more foreclosures than we expect BUT it all depends on how much the bankers and governments tinker until their plan is ready to be unleashed

Great information!  Thanks for sharing and have a wonderful and productive day!

With increased equity during this pandemic, I would think a troubled but wise seller would put their property on the market for sale and avoid foreclosure.

I fondly recall Doug Casey proclaiming in 1989 that real estate was a bubble and a HUGE market collapse was imminent....then it happened 2 years later and he spiked the football & declared himself a visionary

It's a scary thought...these buyers that are waving appraisals and going so far over the asking price better be prepared for the much larger mortgage payment through the years.