I know this went on and on, but I am just trying to show how when prices went up there was a positive feedback loop. Higher prices created higher prices. And on the way down people will be trapped in their mortgages. You might think that is bullish because people won’t want to sell. Inventory will stay low. But when really drives prices down is the people have NEED to sell. Those who need to stop the bleeding. Those that default and declare bankruptcy. Jingle mail is a thing in Canada…..
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