Barb Schlinker The Real Estate Voice

Will Real Estate in the Colorado Springs Area Crash SoonSegment 2Will Real Estate the Colorado Springs Area Crash Soon?Barb, there are a lot of people who fear a real estate market dip in values is just around the corner?  Do you think the real estate market in the Colorado Springs area will crash?I understand their fears:People know history can repeat itselfThe last Increase followed by Crash 2003-2012 involved:Shady lending practicesBuyers purchasing more they can affordAdjustable interest rates caught people unaware and unpreparedRecently, COVID Pandemic caused other issues:Job Loss in 2020 – Unemployment rate then 12.6%Most recent date – 6.1%Still TBD:  Foreclosure Moratorium ENDED?Foreclosures up nationwide by 60% as compared to last yearMany, many are WithdrawnIN August: BIDEN Admin Put a New “Loan Servicing Rule” in place through the CFPB that would1. “HOLD OFF MOST FORECLOSURES UNTIL 2022”2. Prevents them from INCREASING Monthly payments for owners emerging from forbearance program3. Prevents them fro