Last week I asked all of you What will cause foreclosures to increase over the next 18 months? As you can see from the chart above, the majority felt that unemployment would be the culprit, which leads us to the chicken vs egg question. What will be the trigger?
Survey results what will cause foreclosures to increase
What I found most interesting is the answers that were not selected, only a small number felt that interest rates or migration back to the office would have much impact. Furthermore only 4% felt that foreclosures would not increase meaning that 96% felt that there would be an increase in foreclosures.
This leads us to the two top answers for what will cause foreclosures to increase. The overwhelming majority felt that an increase in unemployment would be the main culprit while 22% felt a stock market correction would be the trigger. This leads into the chicken vs egg question of which comes first. Does a rise in unemployment trigger a stock market correction or does the stock market correction trigger unemployment. My gut says the stock market correction comes first, but we will have to wait and see.
Summary
Thank you everyone for your participation and insights in my survey. The insight in the comments from readers was amazing and I hope everyone gained a good perspective from your fellow readers. My key takeaway from this survey is that the most likely scenario is a that foreclosures will rise (96% think so) and that unemployment will be the culprit. Long and short survey respondents are pretty certain that rough waters are ahead. Thanks again and stay tuned for upcoming surveys
Additional Reading/Resources:
https://www.fairviewlending.com/foreclosures-on-the-rise-is-this-a-blip-or-trend/
https://www.fairviewlending.com/the-war-on-landlords/
https://www.fairviewlending.com/house-prices-hit-another-record-should-you-even-care/
https://www.fairviewlending.com/root-cause-of-real-estate-price-declines/
https://www.fairviewlending.com/will-real-estate-fall-to-2020-values/
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Glen Weinberg personally writes these weekly real estate blogs based on his real estate experience as a lender and property owner. I’m not an armchair reporter/writer. We are an actual private lender, lending our own money. We service our own loans and own commercial and residential real estate throughout the country.
My day job is and continues to be private real estate lending/ hard money lending which enables me to have a unique perspective on the market. I don’t accept any paid sponsorships or ads on my blog to ensure accurate information. I’ve been writing this for almost 20 years and have over 30k subscribers. Please like and share my blogs on linkedin, twitter, facebook, and other social media and forward to your friends . I would greatly appreciate it.
Fairview is a hard money lender specializing in private money loans / non-bank real estate loans in Georgia, Colorado, and Florida. We are recognized in the industry as the leader in hard money lending/ Private Lending with no upfront fees or any other games. We fund our own loans and provide honest answers quickly. Learn more about Hard Money Lending through our free Hard Money Guide. To get started on a loan all we need is our simple one page application (no upfront fees or other games).
Written by Glen Weinberg, COO/ VP Fairview Commercial Lending. Glen has been published as an expert in hard money lending, real estate valuation, financing, and various other real estate topics in Bloomberg, Businessweek ,the Colorado Real Estate Journal, National Association of Realtors Magazine, The Real Deal real estate news, the CO Biz Magazine, The Denver Post, The Scotsman mortgage broker guide, Mortgage Professional America and various other national publications.
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