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Suzy Orman's Wrong?!?!?
July 20, 2020 at 12:04pm | Mac Rogers
Last week Suze Orman posted on her Facebook page about not acting or buying real estate (not going into the housing market) until September, October or November. Is Suzy Orman wrong? Is there a housing bubble? She is concerned about this current pandemic
(coronovirus aka covid-10) and what it is doing to our economy (recession???).
She mentioned homeowners that are on unemployment and have missed their mortgage payments (mortgage forbearance courtesy of the CARES Act; economic stimulus) as one of her concerns and believes that prices will be going down because of this event. She seems to be worried about a coming foreclosure crisis.
In her example she said that if you buy a home now say worth $300,000, it could be worth $150,000 if prices dropped. She went and compared what might happen in the near future to what happened back in 2007-2008. That was the mortgage meltdown. Is she right? Are we in a housing bubble or real estate bubble?
Is an economic collapse imminent? A lot of people have it in their minds about we will see a coming housing crash 2020 or a real estate crash 2020.
In this video I will talk about this and see if what she is saying is valid and give you my own opinion on the real estate market as it relates the bay area, particularly the east bay and the cities that I serve like Castro Valley, Hayward, Dublin and San Leandro.
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