r/wallstreetbets - i am Dr Michael Burry
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Summary
But it makes sense with these rates.The only way is for investment buyers to completely crumble.Not many people want to sell their home with a 2-3% mortgage and buy something at 6%.They will strategic default when they can make n00K by walking away from the mortgage, especially those in non-recourse states.Just like last time.People vastly underestimate what unemployment is about to do to this housing market.Till recession startsI got 2.5% on my mortgage and youll have to pry me out of this house with the national guard, especially after the living hell I went through to get through bidding and closing on this bitch.
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