This is a YouTube video titled "🚨 Waiting on Foreclosures to Find New Home? 🚨" containing a monologue by Robbie Crabtree discussing the housing market inventory issues as of 2021, focusing on the impact of forbearance and foreclosure rates on available homes for sale in the U.S.
Start the year, we were 3.8 million homes short. As a nation, many housing experts have hoped that those in forbearance, if they continue to default on their payments, their homes hit the market and solve the inventory problem. However, we had 5 million people in forbearance. So far, three and a half million have already gotten out of forbearance and 99.5% of them became current to did a loan modification. Their house never hit the market, only a half percent did. So if you had that half percent of the remaining 1.5 million homes in forbearance, that's 24 homes that might hit the market. That's 48 homes per state. Not going to solve the inventory problem. So still a better time to buy. Now to try wait out potential foreclosures.
