Snake_Baker
The one true King of the North
- Apr 24, 2013
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- #1,301
you're confusing two things
banks maintaining loans is very different to banks issuing new ones
after the GFC getting a loan in the USA became a lot harder, and that suppressed demand for new houses (and therefore prices in specific markets)
if the banks got hit here, the price would be a similar restriction on new credit, but you have to look who gets that. first homeowner and lower end of the market would be crushed. the rest would be okay, slower, but okay (as people are using existing equity to get loans)
the exception is apartments, these are driven by demand from migrants, so its immigration that will dictate their demand
Fair enough.