I don't think there is any truly likely scenario where there is a broad 5% correction. Even if rates went down to 0 again we would maybe only get 3%.
A major recession and unemployment would do it, but if there's one thing we've learned it's that the FED will turn on the money printer again before anything got to out of hand and prevent a housing crash.
From all the data I can tell we may see a slow 1-2% deflation per year for 2-3 years to correct, but even that's optimistic and we're more likely to remain flat.
I really want to believe the contrary, please convince me.
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source https://www.reddit.com/r/RealEstate/comments/1nk2z6r/realistically_what_factors_would_actually_lead_to/
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