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odallay OP t1_jdjqz9t wrote

Reply to comment by jackietreehorn313 in home prices in new jersey by odallay

is there a time period when this happens? sorry i don't know much.

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Cashneto t1_jdjv8vv wrote

Typically during a hard recession, the most recent example is 2008.

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Metal_LinksV2 t1_jdkoyuh wrote

Remember Foreclosure timelines in NJ are long, typically 18 months to 5 years in some cases.

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Cashneto t1_jdm2cbk wrote

The housing market is very healthy as well, a lot of people have 20%+ equity in their homes, making them less likely to want to leave them.

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Metal_LinksV2 t1_jdpa1c5 wrote

Conventional loans do, I'm more worried about GNMA and VA loans that were bought at the top of the market, little room for mods. Then again this is kind of modeling I do for work ...

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Cashneto t1_jdqdrme wrote

Were offers with less than 20% down even competitive during the top of the market?

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