US home sales in 2024 fell to lowest level since 1995
cnn.com
cnn.com
The Baumol effect predicts that as labor costs drop in some industries, labor cost in other industries comparatively goes up.
A.I. Can't print more land. And it doesn't seem to greatly affect how much labor goes into home construction. So the housing market is only going to get worse.
We weren't at high risk but had to pay for the people that were. Kind of like how car insurance is now.
They can demand the difference between the loan amount and what the house was disposed-of for. They can come after that money some years later. Some banks do, some don't. I was concerned for 7 years but they never pursued it.
note: I worked bankruptcy cases for a couple of years. My own credit union was notorious for relentlessly perusing every possible loan. They gave great terms but know you are going to pay it off.