A third of the country missed their housing payments

[iceberg_is_on_fire]

This is big.

 

[MoneyTron]

If they don't pass a stimulus bill soon, August's numbers might even spook Wall Street.

 

[Serious]

I just saw this clip yesterday on how evictions are on the rise too. It’s gut wrenching stuff, especially when you consider that a significant portion of people facing eviction, job instability and overall housing crisis are African Americans.

It’s just depressing.

 

[dora_da_destroyer]

thecoli told me unemployment was paying too much right now, certainly that $600 should be paying off mortgages early!

 

[Wild self]

Greed from banks and landlords.

 

[MushroomX]

This is big.

I wonder if there is a statistic on how many people called their Mortgage office, asking to adjust their payments. This isn't surprising, but I think there is this 'shadow' portion where people who can barely pay, but are not part of the "Didn't Pay" bracket.

 

[God Almighty]

Jubilee (biblical) - Wikipedia

I gave y'all the blueprint.

 

[the cac mamba]

thecoli told me unemployment was paying too much right now, certainly that *3-4000 a month should be paying off mortgages early!

fixed that for you and that's just for one of the parents. a married couple who both lost their jobs, getting paid by the CARES act, should be getting at least 7 grand a month on unemployment.

and the average mortgage in america is 1500

these 30 percent are NOT the people getting 4 grand a month from the government they didnt get those funds. probably through a failure of the state.

 

[the cac mamba]

Greed from banks and landlords.

cant blame the landords, the bank is on their ass for that mortgage

and the bank can't just put peoples' shyt off without the government stepping in to guarantee it. i mean i guess they could, but im not sure how we can force them to do that. some kind of government freeze on mortgages maybe

 

[NkrumahWasRight Is Wrong]

Does this count forbearances

 

[ThaBronxBully]

Or They Had A Grace Period Not To Make Payments And Decided Not To

 

[MAKAVELI25]

cant blame the landords, the bank is on their ass for that mortgage

and the bank can't just put peoples' shyt off without the government stepping in to guarantee it. i mean i guess they could, but im not sure how we can force them to do that. some kind of government freeze on mortgages maybe

She has a plan for that

 

[Rawtid]

It's only if a problem if they make it one. If they freeze payments, say for a year, and tack it on the end of the existing mortgage, the banks still have the funds to cover that. They get bailed out.

 

[the cac mamba]

She has a plan for that

hopefully senate majority leader warren can take care of it

 

[FAH1223]

cant blame the landords, the bank is on their ass for that mortgage

and the bank can't just put peoples' shyt off without the government stepping in to guarantee it. i mean i guess they could, but im not sure how we can force them to do that. some kind of government freeze on mortgages maybe

The banks can put these mortgages in forbearance. This isn’t the 2008 crisis. The FED has flooded the system with liquidity.

This is a pure demand issue. Low velocity of money in consumer hands.