Where will the new hits come from?
Many of the things I thought were coming seem to be showing up, higher interest rates for example. I expect higher taxes and I expect home owners to be particularly hard hit. When I was thinking through where I thought the economy was heading I concluded that I did not want to own more home then I need as to do would be to have city councils consider me an open tap to access funds. I suppose I've become resentful of waste and what I consider incorrect policy.
I also figured things would show up in ways that few anticipate. Mish has a post about ways condo and strata projects are being affected. The first has only 1/3rd occupancy and it appears bills aren't being paid and services aren't happening, like garbage collection. There there are the squatters. The second one is about a complex where strata fees went up 35% because of those not paying their fees. I don't know what the law is like in the US, but in Canada the strata has the right to block a sale of a unit when fees are not paid, so strata fees get paid before a title can be transferred.