me_irl

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me_irl (lemmy.radio)

submitted 3 days ago by sanitation@lemmy.radio to c/me_irl@lemmy.world

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[–] zxqwas@lemmy.world 11 points 3 days ago (2 children)

Any recession can cause a downward pressure on house prices at the same time as difficulties paying for a mortgage. You may not be able to sell the home for enough to pay off the mortgage when you get into trouble.

[–] captainlezbian@lemmy.world 3 points 3 days ago

Yeah, that idea is very 2007. The 08 crash was a great time to buy a house if you still had a job because a lot of foreclosed houses were for sale for way less than they'd been bought for by their previous owners.

[–] the_mighty_kracken@lemmy.world 2 points 3 days ago (1 children)

I have never in my life seen house prices go down. They just quit going up as fast.

[–] zxqwas@lemmy.world 1 points 3 days ago

In my life I've had two times when they went down along with unemployment going up.

The 2008 crash and a local crash due to the biggest employer in town being on the verge of bankruptcy in the 1990s.