Americans got richer in 2020. Is this a surprise?
Home prices had a great part in this.
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Americans got richer in 2020. Is this a surprise?
Home prices had a great part in this.
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The rich get richer and the poor get poorer. Anyone outside the stock market and real estate probably took a huge dip. The interest from banks have gone from bad to even worst when people are struggling to survive everyday.
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Yea, that's true. Here in brazil poor people are struggling a lot because the economy is in shambles so there are not enough jobs and all the prices went way up.
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Every single countries economy has been destroyed by the dumb politicians. Its even worst in the US because there is so much politics on both sides. I personally think both sides are partially right but it doesn't help the economy.
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We have some first class jackasses in office, that is for sure.
Hard to find a worse quartet than Biden, Pelosi, Schumer, and McConnell.
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Yea they are the worst people in office and the reason why we have such a horrible system.
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Brazil doesnt have a monopoly on a bad economy nor stupid politicians.
The US has both of those too.
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Yea those things seem to spread like a virus everywhere...
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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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I would never have guessed that would be the case, interest rates were inching up too. If they ever let the housing market deflate we are in trouble.
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It will deflate if 3D printing of houses take over. The cost of making a house will go way down but you can bet that law suits will start increasing to delay the inevitable.
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Yeah well since those in the markets got such a boost, it is not surprising the average.
Even the amount of savings went up.
Of course, the amount of money they distributed helps.
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