There sure are a lot of loans being defaulted on in the Tampa Bay area. Investors who took out secured home loans to buy a new home in the past year are finding that they can’t flip those homes. In some cases, they can’t even rent the homes out. We’ve got several empty homes for sale or for rent in our neighborhood, and why buy one of those, when you can buy from the builder, spend less, and get more in perks? (Like getting your closing costs paid!) I’m not worried about our resale value right now, because when we took our our secured loan on our new home, we knew we’d be there for a while. I’m not going anywhere til the market bounces back, and then some! I wonder what all of the folks who are defaulting on these loans are going to do now? I wonder if other parts of the world have housing slumps like this? Do buyers with
Secured Loans UK have these issues? Maybe it’s a good time to buy overseas! LOL