- Originally posted by alexlee:
Foundation, I agree with you that credit will be harder to come by in a bust. However, credit doesn’t completely dry up. Properties still change hands.
What I saw was mostly sideways.
ie; sell for $200 and move to $300k or more realistically it was sell for $300k and move to 200k.
Did’nt see many new buyers with big loans.
Agree with Foundation, and I think having multiple properties will put a deal under greater scrutiny, not less.
What I also saw in 1991 was a lot of bank managers and loans managers reskilling …(fired)
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