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[bbotcs]

lj: An amendment to my prior post
"In 2024, approximately 32.6% of U.S. home purchases in the most populous metropolitan areas were made in cash according to a Redfin survey of the county and cities records of 40 metropolitan areas." So, in theory, two-thirds of homes purchases had mortgages on which the homeowner could default.
Remember, too, that in 2008 home flipping was the rage. It became a hobby for some people.
We don't see that now.
If we go into a deep recession, I believe the causes would be job losses due to AI and other factors, punitive taxation by State and local governments, a big slowdown in the auto market, and, of course, consumers who spend less due to tariffs.
We are headed toward an economy in which things are made using AI robots, which is going to hurt the job market for people who do not have college educations, or even high-school educations.
The job cuts have begun. Even Wendy's want to replace employees with AI, presumably those who take the orders. Amazon has laid off employees in Massachustts, if I am not mistaken, after opening a warehouse operation that is heavily robotic.