Home Sweet Panic: The Uncomfortable Reality Facing New Homebuyers The recent market retraction has sparked a heated debate about the fate of first home buyers who entered the market during the pandemic.
Thanks to generous government incentives and low interest rates, many new homebuyers found themselves in a precarious position – owing more on their mortgage than their property was worth.
This predicament is known as negative equity, a situation where homeowners find themselves with debt exceeding the value of their asset.