This is what a bursting housing bubble looks like

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by Boo_Randy

www.eastbaytimes.com/2022/06/18/when-a-buyer-cancels-the-deal-who-gets-the-deposit/

Q: My husband is a real estate agent. Last week, the realty firm where he works had five sets of homebuyers cancel their home sales. My husband’s homebuyers canceled first. It’s infuriating. He worked on behalf of his homebuyers for over a year.

Today, I learned all the homebuyers “are walking away” from their earnest money deposit. Where does the canceling homebuyer’s money go? To the sellers or realty firms?

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