4 ms·
Evicting millions of people (or foreclosing in the case of houses) is a recipe for disaster for the whole country. If there were tons of employed people waiting
by coldcode 6y ago
Evicting millions of people (or foreclosing in the case of houses) is a recipe for disaster for the whole country. If there were tons of employed people waiting on renting a place than from a business standpoint it makes sense. However if you toss people out on the street for non-payment, you still don't get any money, and you make life difficult for all those people. Yet the property itself might be foreclosed on if no rent comes in, and that owner might owe money to some bank and be shut down, but then the bank is holding properties it can't unload. In the end the whole real estate market collapses. There is no easy solution, and we in the US have no political answers either (especially today). But in the end the banks are getting cheap/easy money from the Fed and are less likely to suffer than all the preceding layers. But even that money will eventually cause mass "stagflation" because its not free either.
I have no good idea how the country will look in 3 months.
- aww_dang 6y agoI understand there are two rounds of forbearance of 6 months each? This may depend on the region. Agree with your thoughts about evicting, but I'll add that there's an incentive for landlords to keep people in their apartments/houses. A homeless person is much harder to employ. Vacancies will decrease rents. Similarly mass foreclosures will hurt real estate values.