Keep bringing the market down to its knees

[Maverickz]

Quote from day7793:

Since you used the word "STFU" I will respond according:


Listen Dumbass,

You dont know anything about real estate. When you say supply and demand that what happened idiot brains. The Demand dried up, people stopped buying for various reasons. Some were gaming the markets for discounts, some were scared in their tracks. If the buyer stops buying the whole industry collapses, the whole cycle stops. Real estate valuations dropped because there were no new comps! That's when the refinances and lenders got in trouble. They can't lend on collateral that was not enough and the homeowner had no other alternative but to default since he cannot sell in a market with no buyers.

Get some brains before you open you beak and do not start off with insulting posts, in my case, it will come back at you like a whiplash.

Now you STFU and do not come back!

The population did not get together and form some conspiracy to stop buying houses. The people that had the money and were willing to spend it at the price points at that time had already bought their houses. Houses aren't something you buy a new one every month just because. Construction companies should have seen the writing on the wall and slowed down production instead of blindly continuing to build even though they were already starting to have a hard time selling the houses they had already built.

It doesn't take a genius to figure out if you are building 100,000 new homes and apartments every year in an area that is only growing by 20,000-50,000 people per year you are going to run out of buyers sooner or later. That is what happened. No back ally conspiracies just simple supply and demand.