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Zillow turns full-blown housing market bear—just look at its new forecast
(www.fastcompany.com)
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this post was submitted on 21 Apr 2025
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United States | News & Politics
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idk. I think residential landlords will be fine. they will adjust rents to scrape as much from their vassals as possible while renegotiating favorable-ish terms on any debt they may have to creditors - banks dont want houses.
its families who who will be destroyed by this. auction sales will be underwater and people will be homeless. serious pain has come for the american population.
Why would house prices going down make people homeless?
perhaps "home insecure" is a better term. this market may turn many "home owners" into home renters.
those with unserviceable mortgages will lose them, increasing supply and putting further downward pressure on pricing right after a countrywide housing price bubble. these people are going to be massively underwater on their debt. there may be some people with the means to buy in a down market, but I think many homes will be snapped up at auction by corps for rental.
I am not sure how any of this results in an increase in wealth for average people. its likely going to end up as another massive wealth transfer upwards.