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Updated over 2 years ago,

User Stats

17
Posts
12
Votes
Aaron Rosenberg
  • New York, NY
12
Votes |
17
Posts

Housing collapse coming: should I sell?

Aaron Rosenberg
  • New York, NY
Posted

I have two C-class properties, no mortgage.  I paid about $120,000 for both of them.  

I also have a B-class property.  Cheap mortgage, with balloon payment of $140k due in 2 years.  

The B gives easy, stable, and regular income, the C's give variable income but have the occasional tenant drama.  This is not news to anyone who knows what B and C mean here.  

So.  I have been offered $150,000 for the two C-class properties.  Their values have gone up in just a handful of years.  

It is also known that the housing markets are about to collapse.  Mortgage rates are 6.25%.  What should I do?

My gut says to take the $150k and get something sweet when the market collapses, but my gut can be kind of an idiot sometimes.  

I know times are "unprecedented" but what do you all think I should do?

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