this post was submitted on 27 Mar 2025
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[–] werefreeatlast@lemmy.world 7 points 1 month ago (21 children)

I really don't think that's how it works. Like no one has ever sold their house below market to such an extent that one would run to buy it. That makes no sense. If you lose your house, it goes to the bank.

[–] qprimed@lemmy.ml 7 points 1 month ago (9 children)

but banks dont want houses. they want the balance of the loan. in a moderate recession realestate will get auctioned fast and low.

[–] werefreeatlast@lemmy.world 2 points 1 month ago (8 children)

Okay. Whatever you say Mr. Let me know when that happens so I can get one too!

[–] qprimed@lemmy.ml 2 points 1 month ago

oh, you'll know. talk to friends and family who may have been through this before. make a plan (or five) for something that works. there are paths depending on your goals - individual, multi-family, communal, etc. only you (and other potential participants) know what you might want to achieve.

the most important thing its talking to people who have been through it before. start doing that so you have some inkling of what to look for and what might work if you have resources. a great deal of it is luck but some of it is forethought.

reminder: none of this is competent financial advice and you should probably ignore it.

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