With housing markets across the country flashing warning signs of not just contraction but outright collapse, investors in one of the real estate investment trusts (REIT), BREIT, that has fueled market’s rise increasingly want out.
Possibly several, if the end result is a total collapse of BREIT, resulting in a fire-sale of their real estate assets, which would in turn collapse even further housing prices in most markets.
Of course, those with recent mortgages who find themselves underwater because of the collapse in the underlying equity of their homes are going to be well and truly screwed. Which is where things will get hinky as this housing bubble deflates.
"Wealth destruction waits at the bottom. "
As does a buying opportunity. :)
Possibly several, if the end result is a total collapse of BREIT, resulting in a fire-sale of their real estate assets, which would in turn collapse even further housing prices in most markets.
Of course, those with recent mortgages who find themselves underwater because of the collapse in the underlying equity of their homes are going to be well and truly screwed. Which is where things will get hinky as this housing bubble deflates.