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Q: So you are expecting this scenario to play out in the relatively near future?
A: Yeah. You’ll start to see sellers [who] are unable to get their house sold that will be having to sell because of economic reasons or divorce or whatever the case may be. They will have to sell, so they will take their home price significantly lower to get it sold. Additionally, you will have more distressed housing because people [who] are in short sales or are having their loans reset are not going to be able to get out of their homes because nobody is willing to buy it because the price is too high. And so those will start to drop. This is just what’s played out across the country.
A: Yeah. You’ll start to see sellers [who] are unable to get their house sold that will be having to sell because of economic reasons or divorce or whatever the case may be. They will have to sell, so they will take their home price significantly lower to get it sold. Additionally, you will have more distressed housing because people [who] are in short sales or are having their loans reset are not going to be able to get out of their homes because nobody is willing to buy it because the price is too high. And so those will start to drop. This is just what’s played out across the country.
