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Mortgage Crisis has Begun: Mass Foreclosures & Mortgage Market Mayhem.
4.7 million Americans cannot pay their mortgages right now.
That's a million and a half more than in 2008.
In May, 8.8% of mortgages are in forbearance.
One-third of the American tenants stopped paying their rent.
Millions of Americans unable to pay May's rent and mortgage.Up To 30% Of All Mortgages Will Default In Biggest Wave Of Delinquencies In History.
The Mortgage Market Is On The Verge Of Collapse. The Mortgage Crisis has Begun, with mass foreclosures and mortgage market mayhem.
Americans affected by the coronavirus pandemic are struggling to pay their rent when they have lost income.
More and more tenants are protesting, paying their rent.
Missed rent, in turn, adds up to landlords who canâ€™t pay their mortgages or property tax.
And then cities and states will struggle to provide the basic services that tax payments fund.
Tenants can't pay their rent.
Then owners can't pay their bank mortgage.
Then the banks collapse. Welcome to the future, folks.And what about the Ponzi scheme that allowed the mortgages to exist at all?
A Ponzi scheme with no incoming payments collapses. And that is exactly what is going to happen. But don't worry, the bank executives will be just fine.
The economyâ€™s dead, and as is standard practice these days, the autopsy report will make no mention of pre-existing conditions or diseases, it will just say Corona.
In Los Angeles County, they announced tax increases starting June. So a bunch of people lost their jobs, and oh yeah, your taxes have gone up.
It is insane that construction workers pay more in taxes than amazon or Jeff Bezos, whoâ€™s worth around 130 billion dollars.
State and Federal government tax everyone at an average rate of 7% on everything. Corporations get their money from the exploitation of the working class' labor.
Large corporations got their tax breaks even when the economy was booming. Ordinary folks can't get a break even when they can't pay.
April and May are pretty irrelevant. real estate investing for beginners,how to invest,how to invest in stocks,how to invest in real estate.The crisis has barely even hit. Just wait and see how those numbers change in the next few months after the real fallout from this crisis hits and after the unemployment money potentially runs out.rent strike,rent freeze,real estate,real estate investing .
The first $2.2 trillion bailouts will take us out to about the beginning of summer. Then what?
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In the coming months, there's going to be a wave of defaults within 6 to 8 months that will make 2009 look like a blip. Skid Rows
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ðŸ‘‰Recommended Economic and Financial books :
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How an Economy Grows and Why It Crashes by Peter Schiff : https://amzn.to/33Tk8Ky
Bitcoin: The End Of Money As We Know It https://amzn.to/31TXAqX
The Death of Money: The Coming Collapse of the International Monetary System https://amzn.to/2L2688q
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