restlessways wrote:
One thing lost in this equation is the incredible demand destruction and the need for many "owners" (debtors) to rid themselves of expensive monthly payments. After years of the highest production rates and sales in history, there are a whole lot of RVs out there. It could be like 2009-2010, where you literally had to cut your price to a fraction of NADA/KBB just to sell a car, truck or RV in a glutted market.
You brought interesting point.
What is going to happen to campers who will be "upside down" on loan and buyer will stop paying?
Banks will have to lose more money by repossession, than it would cost them just forget the debt.
Back after 2008 banks would let the the people to live in the houses for years, before they would foreclosure. Las Vegas still have lot of vacant houses and abounded projects. .... 12 years after last recession. Legends say that it is government (taxpayers) who still pay for upkeep those houses as bank are not allowed to dump them and crash the RE market.
