There are lots of buyers but yea why would anyone sell now? (To be fair I'm I'm the never sell real estate every camp so may have a hard time understanding why anyone ever sells real estate)
Bc you no longer have a job to make your expensive mortgage? Bc it was you second property you levered on to rent to Airbnb that now has 0 income but still has payments ?
If you no longer have a job you take the 12 month forbearance and don't pay your mortgage. If you had a second property then lucky you, you can raise the rent and rent it and take the forbearance for extra cash flow for a year.
So just the realtors were let go? Or their tech staff too?
We were hoping to buy a house by July but now our realtor is let go. Ugh
will be worse than 2008
The company name checks out!
I think they furloughed not laid off. Once situation is back to normal people will go back to working normally
Is it 40% or 7%?
41% is made up of 7% layoff and 34% furlough
😗
40% of their field staff (real estate agents) laid off or furloughed. A small percentage of their corporate staff (business ops and engineering) were also let go. https://www.geekwire.com/2020/redfin-lays-off-7-staff-furloughs-hundreds-agents-due-covid-19-impact-housing-demand/
This is just the beginning, glad I am not in real estate.
Housing crisis coming soon
How do you figure?
How do you not ? Double digit unemployment, stocks down double digits. Housing is a leveraged asset