Let's talk about Trump, more foreclosures, and the one big beautiful bill.... - Belle of the Ranch

[TexasTowelie]

[the_liberal_grandpa]

1. Eye opening perspective

Not only are home insurance poicies going up but companies are pulling out completely in some states/areas due to the high risk.

Compounded with raising interest rates this does not bode well for home ownership or the banks that hold the loans.

The past couple of years have seen multiple home selling in my neighborhood for $1M+. Here, people generally want to convert garages or backyards into ADU's. I could never imagine a home where I live, even in Southern California, being worth that kind of money but listings were flying off the shelf.

Now, sales have slowed and people are moving elsewhere and some homes are empty. I am sure that many new homeowners are deeply in debt with the cost of the home and the rising cost of building ADU's.

The old axiom "What goes up must come down" may be in play here.

Could we be looking at a 2007-2008 level housing crash?