>US Mortgage Lenders Are Starting to Go Broke >The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago. >Overall mortgage application volume has plunged by more than 50% this year, according to the Mortgage Bankers Association. bloomberg.com/news/articles/2022-08-19/mortgage-lenders-are-starting-to-go-broke-as-loan-volumes-plunge
How are you surprised? The plan is to get everyone into rentals. Now the banks will get even more houses. You WILL own nothing. They weren't kidding about that one.
Christian Reed
I'm not necessarily surprised, just reporting the news, user
David Baker
Just tell me when the best time to buy a house will be
Jose Nguyen
It will never be a good time to buy a house. You need to build your own.
Julian Mitchell
You are an idiot. Nobody is going to buy while the market is in the middle of crashing. You'll lose money no matter what.
Landon Torres
Winter is coming to add to this mess. Winter is always a slow down. People don't like to move in the cold.
Aaron Sullivan
Most retards blew their loads for cheap money. Now money is soaring and prices will crash hard. Buyer who wanted to buy all bought. Any seller who didn't already sell is now fucked holding the bags.
Ian Myers
money is not the most important thing
safety is. I still plan to buy a house as soon as I can, far outside the city
Noah Sanchez
So what will happen is the market will crash and we will also be in a recession with lots lay offs. The middle class will not having the buying power and its quite possible the fed will lower intersection rates again but even if they don't rich people will buy everything up again just like they did after 2008
Angel Bell
all those ppp fraudasters blew their load
Samuel Nguyen
>>US Mortgage Lenders Are Starting to Go Broke
How exactly
Anthony Reyes
it won't be a victory until the blackocks and vanguards of the world are all back to panhandling for beer, as god intended.
Easton Scott
>saftey is Nah, it's liberty.
Cooper Richardson
>you paid off your house but now you're stuck in the suburbs. damnit!
Fuck fuckfuckfuckfuxk
Jacob Lee
Regular people won't, no. A lot of people holding onto cash don't realize all their shit will be so expensive they won't have it in a year or two. Some of them won't qualify for the 10+% mortgage rates. A few will come in and buy houses for cheap trying to flip them and will get burnt when they have 0 income and liquidity.
Jayden Hill
life is the most important thing, if we're going to get down to it
in terms of housing I meant that safety is much more important than mere financial considerations
liberty has little to do with the housing equation, except maybe one might save one's money to travel/escape instead
Blake Gonzalez
>the 2005 house bubble what?
Ayden Ross
I’m house shopping right now. Started 6 months ago and knew the market was too high, and bided my time. Now houses are coming back on the market after the buyers cancel the sale. Prices dropping like a rock.
John Robinson
the peak was around 2005-2006. the crash was 2008/2009, but housing prices had been dropping a long time before then
Luis Harris
>mortgage originations are falling this means fewer deals being consummated which could be a demand side OR A SUPPLY SIDE issue. so far there's no sign of falling demand, just a very very very long line of greedy bastards waiting to buy low during "the big one." there's no relief on the demand side, just more and more demand.
