Actually the poor likely saw their situation improve since there was both mortgage and rent forebearance programs. So it people arent paying their rent, their balance sheet can improve.
Of course, what happens when they are forced to have to start paying that again?
The situation will likely reverse very quickly.
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Yea it won't be an issue. Steven Van Metre showed that most of the people who delayed their mortgage and rent tend to put them into savings (or at least a portion). At least when its time to pay bills, USD is needed and thus the USD should move up a bit. Because when these bills get paid, some of them will have to pay off the entire balance.
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I am curious what happens to the real estate market once they force people to not only pay their mortgages but make up the back payments.
We know that most will not have the full amounts, especially if they lost their jobs.
Estimates I saw were around 9 million homes in that situation. That is a lot of real estate to hit the market.
Could that start the process of crushing the housing bubble that many feel exists.
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