Is this the end of real estate as we know it? Everything we’ve traditionally thought about real estate is fundamentally changing because of this recession.
We’ll cover FOUR things in this training video.
#1. The pandemic is causing more and more mortgage delays more and more rent delays and forbearances. We will go over some statistics that just came in as May rents are due.
#2. It’s becoming harder to get a home equity line of credit (HELOC). This used to be easy. All you do is tap into the equity of your house and you have an instant source of cash (an instant piggy bank)
#3. The mortgage bailout program is continuing to grow as more people need relief
#4. This crisis is resulting in a small shift in behavior. People are moving away from urban areas, away from densely populated areas into new constructions and into most suburban homes.
The pandemic is forcing mortgage & rent delays
Pandemic could result in more people moving from the city to suburbs