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When we have a combined $17.6 Trillion dollars in outstanding mortgage debt throughout America. This outstanding debt is mainly held by Fannie Mae and Freddie Mac – they own roughly 62% of the mortgage debt. This is significant when all things considered. This new warning from Fannie Mae is very revealing as their chief economist warns that we are entering a steep downturn in residential real estate.
This makes sense as we anticipate further mortgage rate hikes, higher inflation, supply chain issues and wealth being slowly but surely sucked out of the stock market and crypto markets. We will likely see all of these problems come to a head together and this could leads to a massive real estate crash and economic collapse of residential housing throughout the United States.
The question I have for you is what will happen to all of the house flippers, airbnb investors, real estate developers building housing communities when travel gets reduced and we begin to see many unfinished projects or unsold projects? Will these assets go back to the banks as foreclosures or short sales or will the housing market hold up long enough for these investors to exit the market?