As a pre covid USA was experiencing its longest economic expansion in history, many economists and investors were starting to speculate when and why the next US real estate crash would happen. Until now, no one knew what the catalyst would be.
Here’s Your Catalyst
40 million Americans are facing evictions.
Mortgage delinquencies rose a seasonally adjusted 8.22% in the second quarter.
August marked the fourth straight month that over 30% Americans didn't make their full housing payment.
42% of US jobs that have been loss will never come back. That means 20 million American employees will not have a job to go back to.
16.5% unemployment in Orlando, the worst in Florida
Orlando has the third highest Mortgage delinquency rate in the US
Prices Have Peaked
The US National Home Price Index is reaching a peak that looks eerily like that of 2006.
Currently, a fake housing market driven by government stimulus and Federal protection from evictions and foreclosure, combined with record low interest rates are leading to low inventory and are driving up prices. (Orlando home prices are up 12.2% from 2019). The time to sell is now before the stimulus drys up, the Federal protections from foreclosure and Eviction ends, and the market gets flooded with desperate sellers, short sales and foreclosures.
Contact me today to get a current valuation of your home and create a custom strategy to cash out and take full advantage of the upcoming US foreclosure crisis.