Quote:
Originally Posted by IndyRed128i
I have many friends in real estate and from what I have heard and scene, the housing market is still on fire.
This is quite surprising to me considering the current unemployment situation, and everything with the virus.
How can there still be a high as ever demand when we have high unemployment and a recession?
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Govt checks have kept unemploymed paying rent. Once that stops expect to see an uptick in rentals for sale.
Also, as others have said the COVID forbearance program has suspended mortgage payments for up to one year.
The biggest issue for lenders now revolves around selling mortgage loans which are performing at the time of sale to investors. This can be an issue since some states are moving back to phase 1 which means closing businesses.