💪 Low Foreclosures Keeping House Values Strong 💪

Had some buyers consider waiting out the housing market, see if there might be a bubble that bursts and then they buy low down the road. Great idea in theory, but if we look at the numbers, not quite the case. So a big part of the previous bubble in 2008 were many foreclosures dropping the value of houses. So foreclosures in 2017, 18, 19 were right around 300,000 per year. That dropped to 130,000 in 2020 and then on down to just 30,000 in 2021. So foreclosures are way pulled back. There's not a risk of people losing their houses. Government's modified loans, extended loans, kept homeowners in their homes to prevent foreclosures. So there's no signs that the hous market's weak. There's not going to be foreclosures. Houses aren't going to drop.