Home prices are going to start falling, and it's going to be a major shitshow for the country [View all]

Here's my thinking about the conditions:

1) Interest rates rising quickly makes buying MUCH more expensive, as is, of course, the rise in home values
2) The stock market is in the tank
3) An awful lot of citizens only real security financially is the equity they've built in their homes as they watch their 401K's and IRA's plummet in value.

I believe we'll very soon see home values begin to drop due to interest rates/costs to the buyer, and homeowners will stress out and want to get their houses sold in droves to get the money they THOUGHT they basically had in the bank.

Multi-national investors and assorted billionaires will swoop in with cash offers, below value, and offers to let people stay in their homes as renters in many cases. They're looking for safe investments during these turbulent market conditions, and people will always need a place to live.

Not only do the very wealthy have the cash to do this, they also likely have access to loans at lower rates vs. the average home buyer. But the rental rates are NOT going to be cheap. They are already skyrocketing, and will continue to do so if home values are falling but interest rates are high. People won't want to buy homes as much if the general trend in value seems downward. They'll decide to rent.

In the short term this will put cash in the pockets of a lot of people and it may well goose the economy and markets, for awhile. But in the longer term, it's a terrible thing as we'll be turned into a nation of tenants to billionaires world-wide, and the primary wealth-building avenue for most Americans will be cut off.

I don't see this ending well for our country.

Esp. if government ignores what's going on here, as seems to be the case now.