Home foreclosures hit a 7 year high. Fox News calls this good news

[lucas80]

It's a real buying opportunity as foreclosures rise to a level not seen since Trump 1.0.
https://nypost.com/2026/07/08/real-...perts-say-its-not-another-2008-housing-crash/

 

[Dadar]

Just asking in general, but unless $$$ is not a factor, why would anyone want to take on debt to buy a home currently unless it is an offer that is too good to refuse. I can see buying land, but ...

 

[OnlyTheObscure]

No bailouts for the borrowers or lenders. Market needs a reset and not propped up with tax dollars.

these formulas use to decide how much house payment and car payment people can “afford” are nuts. They damn near encourage people to live on a financial cliff.

 

[The_Joker13_rivals]

Sadly, the coming crash is necessary. It sucks for the millions that will lose big time, but the current housing market is so out of whack it’s insane.

 

[cpahawk]

Sadly, the coming crash is necessary. It sucks for the millions that will lose big time, but the current housing market is so out of whack it’s insane.

It has been out of whack for 5 years now. I built my house 13 years ago. The same house today would be double what I paid. And at that price tag at 6-7% interest - no bueno. Also figuring in everyone’s vehicle loans - that doesn't leave a lot of disposable income. Only a matter of time before the crash came.

 

[Dadar]

No bailouts for the borrowers or lenders. Market needs a reset and not propped up with tax dollars.

these formulas use to decide how much house payment and car payment people can “afford” are nuts. They damn near encourage people to live on a financial cliff.

It seems like asking prices and demand are trending down

 

[lucas80]

Sadly, the coming crash is necessary. It sucks for the millions that will lose big time, but the current housing market is so out of whack it’s insane.

Sucks that this guy is going to make a killing somehow.

 

[AFM22]

Sadly, the coming crash is necessary. It sucks for the millions that will lose big time, but the current housing market is so out of whack it’s insane.

Why is a crash necessary? A correction is possible without a crash.

 

[OnlyTheObscure]

Why is a crash necessary? A correction is possible without a crash.

Probsbly a decent percentage are upside down in their loans. Can you close on a house as a seller if you can’t pay for the shortage ?

some say you can afford 28% of your gross pay. Yikes, that would equate to me having a house payment 4 times larger than I do. I am in great financial shape and plan on retiring at 58 but damn, that would scare the hell out of me. My guess is millions do it and don’t think twice because “a calculator or realtor or lender said it’s an acceptable debt”.

I see these little 1200 square foot homes going for darn near $350,000 in Bondurant and wonder where in the heck to all these people work?

 

[AFM22]

Probsbly a decent percentage are upside down in their loans. Can you close on a house as a seller if you can’t pay for the shortage ?

some say you can afford 28% of your gross pay. Yikes, that would equate to me having a house payment 4 times larger than I do. I am in great financial shape and plan on retiring at 58 but damn, that would scare the hell out of me. My guess is millions do it and don’t think twice because “a calculator or realtor or lender said it’s an acceptable debt”.

I see these little 1200 square foot homes going for darn near $350,000 in Bondurant and wonder where in the heck to all these people work?

Sure, there's that, but my point is why is a crash necessary? Most economists think we're heading toward a long term correction and not a spiral. Even with the housing glut, prices are remaining steady. Wouldn't it be better for the economy to slowly lower prices with this glut than have a "necessary crash"?