Didn't quite pan out.
Some things are different on this ‘repeat’. Fair number of commercial real estate locations (malls, stores) are being turned back over to banks. Banks are standing there with no idea how to repackage them and sell.
Same story going on with hotels. High-end SF hotels (4-star range) handed over to a bank and zero market for it’s use.
In 2008/2009...fair number of Chinese syndicates showed up in California/Arizona....to buy cheapen houses to rent out. Odds of this happening this time around? Zero.
Fed kept the interest rate cheap after 2008/2009. Presently? Current chatter says rate will cheapen the rate (by mid-summer) from 6.3-percent (15-year loan) to around 4.5 to 5 percent. Inflation will start up but they are desperate to find cheap money as an angle.
Collapsing sales might be fake news. My friend had a tiny 2bed 2bath home with almost no land sell for cash in 2 days for over a quarter mill.
No individual has this, so I am thinking corporations and wall streeters are the bank. But this is an orchestrated event since Covid. It’s been a while since I looked at the other evils around the Covid tyranny.
I’ve been saying 2008 is coming again. Only this time, it will be worse.
Prep as best you can, FReepers