What impact are you preparing yourselves for from the current economic crisis "fallout".... If things get worse? If things stay bad for a few years?
I guess the main problems they are forcasting (Obviously haven't happened yet, because I and others are still getting loans fine) would be:
1). People can't get approved for mortgages anymore?
or less people can get approved, and only the best credit will fly...
2). Mortgage rates come down or will they go up?
3). Property values fall, or will they stay the same or increase?
4). High unemployment?
I'm just getting ready to start on my 2 new projects, and thankfully I've already got a rent-to-own tenant for 1 of them, so I'll only need to worry about selling 1 in the near term future, but the headlines and the panic are obviously concerning to me.
Goodnight & goodluck all
- Hakrjak
I guess the main problems they are forcasting (Obviously haven't happened yet, because I and others are still getting loans fine) would be:
1). People can't get approved for mortgages anymore?
or less people can get approved, and only the best credit will fly...
2). Mortgage rates come down or will they go up?
3). Property values fall, or will they stay the same or increase?
4). High unemployment?
I'm just getting ready to start on my 2 new projects, and thankfully I've already got a rent-to-own tenant for 1 of them, so I'll only need to worry about selling 1 in the near term future, but the headlines and the panic are obviously concerning to me.
Goodnight & goodluck all
- Hakrjak
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