The Other Bubble No One Is Discussing! - City Prepping

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There’s a real estate market that is being overlooked, yet it’s on the edge of a collapse that will overshadow the 2008 market crash.

I made changes in 2008. I bought a small home, no mortgage, I own my transportation and secured a very stable career. I live in a small town in Oklahoma and have access to water and a lot of resources. I saw things going badly back then and here we are. Best wishes to those stuck with the Disease of Prosperity.

I agree with your assessments, Kris. I was a conveyancing Paralegal (someone who works in Real Estate law doing purchases, sales, and mortgage renewals/refinances, not litigation) until very recently. Most (not all, but enough) purchasers getting mortgages push the limits of what they can afford in good times. For the first time ever our firm recently had people default on their purchase agreement obligations because the financing they thought they had secured was suddenly not available to them because of a jump in interest rates making the house they made an offer on unaffordable for them. It was a tragic situation. One the experienced lawyer handling that file said he hasn’t seen before. I’m not saying this oncoming crisis is why I left the Real Estate Law world, but it made the decision a lot easier, let’s put it that way.