If there's a housing crash this time around due to COVID, the big difference is

[theking]

..many have already built some equity for their home unlike back in 2008 where many were under water..

Good luck everyone, hope no one looses their home..

[one-tai]

Wrong! Here's some simple math for you. Let's say someone files bankruptcy back in '08. It would have taken them till 2018 roughly to purchase a house again. With 2 years in, there's no way that said person can accumulate the kind of equity you're referring to. 

[Dok_Champa]

I don't think there's going to be a housing crash.  Housing is booming where I'm at...a seller's market.  I've been waiting for a crash like in '08 but so far...it's not coming.

[theking]

Wrong! Here's some simple math for you. Let's say someone files bankruptcy back in '08. It would have taken them till 2018 roughly to purchase a house again. With 2 years in, there's no way that said person can accumulate the kind of equity you're referring to. 

"Wrong!" is accusing the "admins and mods" of having "favorites" and then when proven "wrong" with FACTS, apologized and kissed their azzes profusely.

"Wrong!" is running to the "mods and admins" and cried your heart out about how "unfair" life is because you didn't get the "last word" even though you only had yourself to blame for your own EPIC FAIL..

"Wrong!" is claiming to the "love the ignore feature" but continue to crawl to prove yourself "wrong" because you're still foaming badly..

AND YEP, YOU'LL CRAWL BACK AGAIN, WATCH!!! 

[theking]

I don't think there's going to be a housing crash.  Housing is booming where I'm at...a seller's market.  I've been waiting for a crash like in '08 but so far...it's not coming.

Hopefully no housing crash for society's sake in general..

I think this time around "equity" will play a bigger role as many have already built some equity for their home..kind of like what this passage states:

"In 2008, real estate lost almost all of its equity. In today’s market, there is still equity, as home values have not decreased. Only the supply of homes has decreased since COVID-19 has begun because of the shutdown. One aspect of equity to consider is how each state and city will reassess property based on the challenges that COVID-19 brings to society now, whether that be cities striving to protect their citizens from tax increases or relying on their citizens’ taxes for revenue.

Homeowners today are in a much better position to avoid desperate selling. We didn’t have a credit consumer bubble going into this crisis. Homeowners have much more nested equity and better financial profiles. Additionally, forbearance programs are available for homeowners who have lost employment due to the COVID-19 crisis.

By 2021, we will be able to determine if these forbearance programs have prevented distress, income loss or equity needed selling. Because a lot of homeowners from 2010-2017 have good nested equity and U.S demographics are solid for housing, I do not expect demand to drop dramatically and supply to increase as we experienced during the bubble bust years of 2006 to 2011."

[hmgROCK]

lol

you people even own a home???
that's not how equity work at all

you using your house as a collateral (the part of the house that you own vs bank owned)
to get a home equity loan credit

if there's a housing crashes
you just walk away.
you can be living in better new house for less

many people walk aways even with their equity 
you be paying $2k for that old house
while, i walk away and getting that cheap house that use to be $500k for $100k and paying $1k per month
just walk away

really PHer member that actually own a home

P=pebhmong

[theking]

Welps so much for "abandon PH entirely"...it's another Rush Limbaugh LIE like "moving to live on the hillside of Laos"..

There goes that fake photo again that was caught as a LIE and LIE some more by claiming he didn't know there's a second one even though it's the same exact photo..

And no, it's not good to take fraudulent "advice"...

[hmgROCK]

why would you want to try to save your house?
keep paying $2k for a dirty old ass house
when you can get a newer bigger house (that use to be $500k) for dirt cheap and $1k

if there's a housing crash
im getting me this BIG ASS HOUSE FOR DIRT CHEAP

just walk away 

[hmgROCK]

makes zero sense trying paying $2k
when you can get a newer and bigger house for for less
just walk away



https://www.npr.org/2011/02/02/133306879/walking-away-inside-the-nevada-foreclosure-crisis

Almost 1 in 4 of Nevada's foreclosures involved a decision to walk away from the mortgage even though the homeowners could pay, according to a new study.

The practice is called a strategic default, and it's at the heart of the ongoing foreclosure crisis in Nevada — the state that leads the nation in the number of foreclosures.

Nationwide, the number of Americans who are losing their homes due to foreclosure also continues to mount.

Joel Searby, author of the Nevada Association of Realtors' new report, "The Face of Foreclosure," says the decision to walk away is a financial one that people arrive at after examining the value of their home.

[theking]

Why worry about how much a house cost...

I mean couldn't you just win the lotto and easily buy as many homes as you want being the "hmong Nostradamus and is always right" and all? 

[hmgROCK]

lotto not my thing
that's your thang



im buying REAL NICE LOOKING HOME
ready to move in
if there's a housing crash, i will buy your home for $50k


p=pebhmong

[theking]

Lotto is your thing and I have proof of how you're trying to use your "hmong Nostradamus" to get it..but not surprised to see the back pedal..

[hmgROCK]

Lotto and casino
Not my thang

I just go there for the SEAFOOD BUFFET

DONT HATE DA PLAYER
HATE DA GAME

[theking]

Yes it is and I have proof. I remembered you tried really hard using your "hmong Nostradamus" move but since it's fake, you couldn't even match a single number.. Again, not surprised you back pedal as usual when caught..

[hmgROCK]

someone is mad
seeing another brother do good
jealous

lol