Looming evictions may soon make 28 million homeless in U.S., expert says

[Jaydawg08]

CNBC: How does the eviction crisis brought on by the pandemic compare with the 2008 housing crisis?

EB: We have never seen this extent of eviction in such a truncated amount of time in our history. We can expect this to increase dramatically in the coming weeks and months, especially as the limited support and intervention measures that are in place start to expire. About 10 million people, over a period of years, were displaced from their homes following the foreclosure crisis in 2008. We’re looking at 20 million to 28 million people in this moment, between now and September, facing eviction.

https://www.cnbc.com/2020/07/10/loom...pert-says.html

Inb4 CNBC


However this is an interesting discussion point. Me and the GF were up last night talking about things like this, with states closing again and school "starting" soon, election in November... things are not going to get back to normal any time soon. We could really see some bad things happen come end of 2020-beginning of 2021

[BeginnerGainz]

https://www.cnbc.com/2020/07/10/loom...pert-says.html

Inb4 CNBC


However this is an interesting discussion point. Me and the GF were up last night talking about things like this, with states closing again and school "starting" soon, election in November... things are not going to get back to normal any time soon. We could really see some bad things happen come end of 2020-beginning of 2021

And thus kicking off another chitty year, probably worse than this one

[WishIWasJawBrah]

You should open your home to some of them

[ThisIsMyAlias]

Hoping things go this way, it will do wonders for the housing market

We just need to stop foreign nationals from buying real estate (like almost every other country does) and it'd be perfect.

[Amp30]

This has to be one of the worst years in the last 50 years, right? 2002 was bad too

[DDSF1]

A lot depends on the media. If they want to rabble-rouse or agitate then things will be bad. They have so much power to direct and influence the masses.

[Jaydawg08]

This has to be one of the worst years in the last 50 years, right? 2002 was bad too

Without a doubt. I'm honestly worried that 2021 may be even worse tho

[VisionaryLarry]

Once foreclosures hit the start of 2021, the world will be an absolute mess. They're just kicking the can down the street, prolonging the inevitable. They aren't letting the market correct itself, so they created so much distress around this virus to blame when it all eventually topples. And it is all their fault.

I'm waiting with cash on hand so when it happens, I can scoop up some good stuff.

Commercial property might be the worst though. I honestly am curious to see what is going to happen by years end.

[AdamSMW]

Without a doubt. I'm honestly worried that 2021 may be even worse tho

For a "glass half full" view, in every bad crisis lies and equally good opportunity, Trump's father for example was renting massive houses during the economic crisis of 193x, I think the rockfeller (or the rothshild, forgot which illuminati) invested in train tracks and fossil fuels during the first world war and made bank, obviously those are big examples but even at the lowest level, hustlers will make it because there's always an opportunity to make it.

You better be strapped obviously, especially if you live in a city where the police is defunded, cause those who don't have will be coming for those who have.

Crypto will be big because the online life will get bigger and bigger, as their use will become more common (like we are seeing now), people will naturally switch up to using them.

[Jaydawg08]

For a "glass half full" view, in every bad crisis lies and equally good opportunity, Trump's father for example was renting massive houses during the economic crisis of 193x, I think the rockfeller (or the rothshild, forgot which illuminati) invested in train tracks and fossil fuels during the first world war and made bank, obviously those are big examples but even at the lowest level, hustlers will make it because there's always an opportunity to make it.

You better be strapped obviously, especially if you live in a city where the police is defunded, cause those who don't have will be coming for those who have.

Crypto will be big because the online life will get bigger and bigger, as their use will become more common (like we are seeing now), people will naturally switch up to using them.

I really am moreso worried about people like my mom or my gf and other family members. Miscers may think things are ok now, but you better not leave your jobs anytime soon and make sure you make yourself an ESSENTIAL employee for whatever corporation you work for.

[ErnieMccracken]

I really am moreso worried about people like my mom or my gf and other family members. Miscers may think things are ok now, but you better not leave your jobs anytime soon and make sure you make yourself an ESSENTIAL employee for whatever corporation you work for.

Bro even the lyft drivers on misc have 8 figure bank accounts lol. There are no poors here, only CEO's. We'll be just fine. Do you really think anyone here works some poverty job?

[jfloycp]

*shrug* 10s on millions on the street, or $trillions$ of debt to pay their rent, millions of remotely ‘educated’ children, hastening national bankruptcy over a bug slightly worse than the flu...

It’s all worth it to keep my frail 83 y/o dad above ground a little longer

[HMFIC_BROWSIN]

Yeah that unemployment will be drying up soon.... People are about to be begging for coronavirus if it means they get to be not homeless.

[meanstringbean]

Glad we are doing this for the flu

[ErnieMccracken]

Glad we are doing this for the flu

Billionaires only getting richer, son.

[GolfBrother]

Or maybe if you weren't retarded and actually saved money during the 12 year bullrun....

[VisionaryLarry]

Billionaires only getting richer, son.

Greatest transfer of wealth in American history. Corporations and banks come out winning, small businesses, lower and middle classes get wrecked further. Inflated and manipulated market keeps things inflated, making this a complete and utter chit show.

Hmmmm

[SmillironS]

Sure glad we continue doubling down on stupid when it comes to handling the newest strain of chest cold. Did anybody actually think this whole quarantine, social distancing, safe at home while tanking the best economy the country has seen in decades was really going to end well?!

[Jaydawg08]

Bro even the lyft drivers on misc have 8 figure bank accounts lol. There are no poors here, only CEO's. We'll be just fine. Do you really think anyone here works some poverty job?

Lmao.. I forgot miscers are on that "only work 10 hours a day making 10k a day" life

Glad we are doing this for the flu

It's not the flu bro... however I am getting more and more concerned with the repercussions of our society

[havoc00]

Sad times

[Suit]

This is what OP wanted. Most are gonna be black or minorities, since you know, the riots obliterated the inner city businesses and economies.

OP, BLM!

[bfdehewdbyywhn]

Incoming War

[Aristotelian]

All this is supposed to be true and doom and gloom yet everyone I know in NYC is facing a rent hike anyway. Despite supposedly thousands of apartments 'empty' and some kind of exodus out of the city.

[amikaelmorris]

wonder how many blew their stimulus and unemployment checks on silly chit instead of eating beans and rice and saving for their looming debt

[Jasonw1178]

90% of them spend their unemployment/trumpbucks on things they didn't need, like TV's and weed, even toilet paper instead of rent.

Remember that renter's revolt crap? Yeah, Stupid Prizes are about to match the games that were played.

[p7nk]

Time to buy and resale for profit, to someone whose likely taking a loan they can't pay back and lose the home.. rinse and repeat

[havoc00]

wonder how many blew their stimulus and unemployment checks on silly chit instead of eating beans and rice and saving for their looming debt

I spent mine on a iphone and a comp, waiting for the second round

[ErnieMccracken]

90% of them spend their unemployment/trumpbucks on things they didn't need, like TV's and weed, even toilet paper instead of rent.

Remember that renter's revolt crap? Yeah, Stupid Prizes are about to match the games that were played.

$1200 is maybe 2 weeks of rent, not including utilities.

[ErnieMccracken]

Greatest transfer of wealth in American history. Corporations and banks come out winning, small businesses, lower and middle classes get wrecked further. Inflated and manipulated market keeps things inflated, making this a complete and utter chit show.

Hmmmm

Das it, mane! CEO miscers partying like rock stars right now. Poorcels blown the fukk out!

[ByAssociation]

Eviction cases. We certainly dont know how courts will side especially with such a high case load. When we were forced to shut down everyone took a hit, its likely landlords that have been unwilling to compromise will also. As far as having a contract, tell that to all the retailers that backed out of theirs, crushing huge amounts of foreign industry and labor, without the protections and welfares we enjoy. Its definitely going to be interesting. They are paying some peoples rent in NJ with federal money but it runs on a lottery.

Part of me has the mindset everyone should have to fend for themselves but another part that if you are forcing people to stay out of work or close their business you need to forestall as many payments as is realistically possible while also compensating them, especially given the now published list of companies that received the grant-loans, the numbers were very very high. You can search by town.