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Here in the USA we are months out as of yet. For a few months nobody is going to foreclose on you, evict you, etc. But eventually banks will win out and begin foreclosures. And people will begin to lose their jobs in due time. Housing starts will trickle.
But in four years things will be thriving again.
Already seeing a lot of people getting screwed who work at menial jobs. I'm telling them to apply at Amazon, Walmart distribution centers, grocery stores, essential places. They are hoping for unemployment. Hmm.. nice, but you don't get paid enough to survive with a mortgage payment.
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