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MrBayAreaHokie

Joined: 11/05/2005 Posts: 21888
Likes: 10764


Well credit is still very easy


Default rates are actually good right now so credit is out there. So I don’t see a collapse.

The nicer parts of Cali have one thing quite bullet proof imho in that most of the sales are cash. The higher the prices the less mortgages you see. Maybe it is like that everywhere but it certainly is this way in NorCal. I see people spend years trying to get into the expensive areas with a pre-approved 80LTV mortgage and they can never get a house as they lose every deal to cash buyers and every nice house in a great area has multiple cash offers.

So, I don’t know where you live but if it is somewhere $$ like Santa Monica, never sell unless it’s to buy a bigger place in the same area.

Just my $.02

(In response to this post by CrystalCoveHokie)

Posted: 07/06/2021 at 10:40AM



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