Lose their homes? Renters don’t own those homes.
Who believes the 40M number? Consumer spending is on fire. We’re supposed to believe people about to become homeless are running around spending like crazy? I bet a majority of the 40M are taking advantage of eviction bans and just being irresponsibility because they can. The media followed the easily predictable playbook. Show a couple sympathetic situations to get people to react emotionally and pretend those few examples represent all 40M. The guy applied for 400 jobs? What’s his criminal record?
I’m confused on how they came up with 40M. Only 25M we’re getting the extra $600/wk, and they attempt to tie it to that ending while adding another 15M.
One thing is certain now more than ever before. Anytime something bad happens people will expect the government to bail them out in even bigger ways than the last time.
what if American stop buying homes all together.
Once bank knows they cannot sell home. They may let current consumer stay as renters.
Rising stock market and metal prices make big down payment on home too much opportunity lost. .Plus further risk to downside not to mention exposed to future property and transactions taxes on sales. make no mistake. the revenues of cities and states declining. insurance rates will go higher. I still not understand why some one buying home at these prices when rents are less than half in same area.
Appreciation bet. Historically SF always rise and make new ATH after a decline, so investors presume that will repeat. I know you say this time is different but it is well known in investment world this phrase is taboo. History rhymes.
Yesterday, I noticed a home came on sale and offer closed today. It is hard to get such a nice new home in prime San Jose area.
https://www.zillow.com/homedetails/2310-Mirth-St-San-Jose-CA-95122/2078580501_zpid/
Suddenly everybody rushing to buy houses. There is a house in my neighborhood facing an incoming road got sold in less than 3 days. The same house took builder over a year and several price drops to sell.
low interest rate makes house buying tempting. as loan is repaid with devalued money.
Fed cannot bailout cities if the revenue stream of cities simply not there
Fed can easily bailout a stock market by digital creation. holding stocks dont need to have insurance and market value tax. the price of stock is same buy at every place and can buy it from everywhere.
$3K for personal capital loss deduction. i am reading how to get professional trader tax status. that will open up to more risk taking. stocks not impacted by climate change. easy to diversify to foreign currency streams.
