Quote:
Originally Posted by Aces4
Some insight for you... many Villagers, in their wisdom, leveraged their bets by putting a mortgage on their homes and invested money in the "never fail" stock market. There are also many homeowners in The Villages who invested in the housing market here and own many homes.
If prices drop too much, many people will be upside down on their homes with the mortgage higher than the value of the home. Mortgage repayment failures equal nonpayment of amenity fees, taxes and general downturn in The Villages where you live. The whole picture of success of The Villages is dependent on a viable economy and not financial failure.
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It seems to me more likely that were foreclosures to occur, new buyers would buy at adjusted (lower) prices, and pick up the taxes and amenity fees. Just my opinion, of course, and it is based upon the belief that there will be demand for homes in TV for a long time to come, based upon retirement rates. What is in question is at what price point that demand will assert itself,, based upon market factors.