I don’t think those “distressed” sales in the couple of million dollar range are much of an issue from the homelessness point of view. They will need to downgrade to a $1.5m or so property. O And as far as the bank of Mum and Dad goes for home ownership, if we want our kids to live near us then that’s exactly what will be required.
I don’t mind them renting in this environment as the rent is less then the interest on the required loan, and there is no capital appreciation currently so good to wait and see after the dust settles.
