U.S. Housing Bubble, Home Flippers Start to Flop, Buyer Remorse Jumps, Risky Gov-Backed Loans Spike
The U.S. housing market continues to stumble along amidst a shrinking pool of buyers, prompting lending standards to continue to loosen as government backed entities Fannie Mae and Freddie Mac see debt-loads for 'higher risk' borrowers double since 2015. Home flippers in coastal markets begin to taste the pain of stagnant and dropping home prices but Zillow steps-up their home flipping game. Sky-High rents and out-of-reach home prices in Los Angeles leads to a spike in people renting pods / bunk beds often costing $1,000 per month. Also, Nearly 1/2 of millennial home buyers feel buyers remorse as high payments and maintenance costs cause strain on their wallets.
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