/biz/ - Business & Finance

[Craig wright No.18587799]

This is completely unironic - not a larp. My dad is a real estate broker and says real estate is next because what sparks a selloff in a recession is usually the liquidation of an estate - usually old people dying with a fully paid off house. This is because the house is paid off and the family has a lot more price flexibility to sell and so if the amount of buyers dries up and the market isn't moving, realtors recommend dropping the price significantly (5-10%) to "catch a falling sword". That is, cash out while there are still buyers willing to pay high prices. The longer you wait, the more prices will drop, the more people will panic sell.

He said his market (Ontario real estate) is prime for a correction because there hasn't been a price correction since he's been a realtor/broker. He also talked to his mortgage broker and he said that 30% of rents went uncollected for the month of April.

Real estate - especially Canadian real estate is going down big time

[Anonymous No.18587824]

>>18587799

Does that mean the chinks will move out?

[Anonymous No.18587945]

>>18587824
No, they're going to move in. Chinks are going to vacuum up North America's real estate and make your children pay rent to them. GG no re america