Zillow turns full-blown housing market bear—just look at its new forecast

While I feel for families that bought over the last few years that really didn't have much choice and will be underwater shortly, my heart goes out to them. That said, my wife and I have been waiting for a market correction to come around and have been diligently saving for just such an occasion, so I'm cautiously optimistic.

It's terrible that we have to go through this nonsense on the whole, especially considering that if PE stayed out of the housing market, there's no reason every family couldn't afford a house if firms weren't driving prices up.

As someone who’s been waiting for the housing bubble to pop for a while:

• I’m not sure this will help me, because big corporate landlords are probably gonna snap a lot of the stock up and perma-rent them
• I’m also pretty seriously looking into fucking off from this country permanently, and dollar crashing is going to have a problematic effect on me trying to buy something in the EU - assuming I can even get permanent residence established somewhere

perhaps "home insecure" is a better term. this market may turn many "home owners" into home renters.

those with unserviceable mortgages will lose them, increasing supply and putting further downward pressure on pricing right after a countrywide housing price bubble. these people are going to be massively underwater on their debt. there may be some people with the means to buy in a down market, but I think many homes will be snapped up at auction by corps for rental.

I am not sure how any of this results in an increase in wealth for average people. its likely going to end up as another massive wealth transfer upwards.