"Dark winter"...millions of Americans are expected to lose their homes

No, I am sitting in a humble small paid off house and it's raining outside.

Mitch McConnell and friends refused to give a relive package to the average Joe. Instead they are funneling all the money into their own pockets.

Hedgetrimmer 2020 wrote:

No, I am sitting in a humble small paid off house and it's raining outside.

Nancy Pelosi and friends refused to give a relive package to the average Joe. Instead they are funneling all the money into their own pockets.

Fixed your biased error pinhead.

Cool story, keep us posted.

Why don't these people just have more money?

Your post is unreadable so your ideas are probably also thoughtless.

Hedgetrimmer 2020 wrote:

Zerohedge, the mother of alt right websites.

I have one rental that hasn't been paid since March due to repeated rent moratorium extensions. Waiting for the current moratorium to expire (Jan 1) to evict, like tens of thousands of other landlords.

Sleepy Joe is going to have to either extend the moratorium indefinitely and send mom & pop landlords to the wolves or evict and ruin the credit of 5.8 million people... Tough choice.

LetsIlliteracy wrote:

Your post is unreadable so your ideas are probably also thoughtless.

You seriously are commenting on someone’s literacy? You might want to put your own house in order first.

bryan evans wrote:

Sleepy Joe is going to have to either extend the moratorium indefinitely and send mom & pop landlords to the wolves or evict and ruin the credit of 5.8 million people... Tough choice.

Easy. Send the landlords to the wolves. Should be working or investing in the productive economy.

The whole house of cards is just waiting to collapse. We had "the best economy in history" and yet millions of Americans were a missed paycheck away from eviction? How good can the economy be if people can't save enough to have a tiny cushion? Of course, even if they did, there's no real reward for saving, other than security, interest rates are zero. Meanwhile, drive by your local food pantry and check out the lines. The only longer lines out there are for Covid tests. But sure, the DOW is at 30,000, good news for hourly wage workers who are losing their jobs and on the way to eviction. Thanks, Trump.

Yes, but miserable Mitch was re-elected by the people of the fine state of Kentucky. Last I checked, Kentucky has a poverty rate over 16%, more than Arizona, more than Florida. So how can Turtle McConnell get re-elected in a state with such a vast population of poor people?

The US seriously hindered its borrowing ability by going into a trillion dollar deficit while the economy was good in 2019 with the unnecessary tax cuts for the rich.

Rents are plummeting in rapidly declining dystopian urban hell holes.

New York City is heading back to where it was 50 years ago. Ratso Rizzo and Joe Buck had no problem finding a place to live.

Problem solved.

DeTron Lames wrote:

The whole house of cards is just waiting to collapse. We had "the best economy in history" and yet millions of Americans were a missed paycheck away from eviction? How good can the economy be if people can't save enough to have a tiny cushion? Of course, even if they did, there's no real reward for saving, other than security, interest rates are zero. Meanwhile, drive by your local food pantry and check out the lines. The only longer lines out there are for Covid tests. But sure, the DOW is at 30,000, good news for hourly wage workers who are losing their jobs and on the way to eviction. Thanks, Trump.

I agree with every part of this post except for the part about it being Trump's fault. And I voted for Biden.

The problem is much bigger than who is in power or which political party holds power. We are at the end of a giant 70 year debt cycle. These cows were coming home to roost no matter what; it was just a matter of when.

Unfortunately, we as a people are too economically illiterate to demand the very thing we need most. A gold-backed currency, redeemable in gold. We can back it in silver too, if you don't think there's enough gold. This would prevent the very large asset bubbles which destroy lives and it would allow for natural growth and healthy economies. But it would stop the redistribution of wealth from the poor and the middle class to the elites. We could actually have healthy capitalism, just imagine.

As someone trying to buy a house, it’s actually kind of annoying that the market isn’t being allowed to play out without intervention. There isn’t enough housing inventory for sale and part of the reason is because people haven’t been paying their mortgages for 8 months, and instead of what would normally happen in this scenario (foreclosure begins and they have to sell the house), they stay in them.

So with interest rates at rock bottom, you have 5 buyers bidding over ask on every house—they can afford to borrow more, so sale prices are going up. As soon as there is enough inventory back on the market again (foreclosure proceed and Covid vaccine distributed), these high prices will pull back. No one wants to be the sucker who paid $600k for a house in a bidding war only to have it appraise out at 550k just 2 years later. There’s already problems in our area with homes not appraising out during the sale.

reality check 1 wrote: There isn’t enough housing inventory for sale and part of the reason is because people haven’t been paying their mortgages for 8 months, and instead of what would normally happen in this scenario (foreclosure begins and they have to sell the house), they stay in them..

Close but this isn't technically true. Tenants haven't been paying Rent for 8 months. People have been paying their mortgages (e.g. the landlords) this whole time. Banks are flush with cash because people aren't spending money so deposits are up. That is also why interest rates on savings are so low right now. Banks don't have to pay anything to get people to keep funds in their account. You can bet they would foreclose on anyone not paying their mortgage.

The reason there is nothing on the market is because like in my case I am unable to sell my property because I can't evict the tenants for not paying rent. The courts cannot hear the case and I can't sell a house with people inside. Effectively I am held hostage by the government interfering in a binding contract between two private citizens. You do not see the government putting a moratorium on car payments, mortgages, or cell phone bills, so that's pretty telling what the intentions here are. It's wealth redistribution.

Love the OP's source. Very credible.

And it's middle class people that are landlords. That's the worst part. Let's fleece the middle class! Makes zero sense unless you want the US to be like Cuba.

The CARES ACT gave mortgage forbearance options to millions of borrowers. Not all lenders *have* to offer this, but many are. I believe something like 10% of the country’s mortgages are in forbearance right now. And I am almost positive the very poor are still getting evicted because they don’t know about/understand the moratorium and the forms they need to present their landlord.

You're just not informed. The courts won't hear the cases. It has nothing to do with tenants not knowing what a moratorium is.

Mortgage forbearance is an absolute mythical beast because you have to prove you are undergoing an economic hardship like loss of work DUE to the pandemic. Most people have not lost their jobs. The people who did, don't own houses. Having your tenant stiff you so you can't make your mortgage payment does not qualify under any CARES act forbearance.