A stunning 30% of Americans didn’t make their housing payment for June – a figure that is likely going to ripple through the housing industry in coming months. According to a new survey by Apartment List, the rate is similar to May and shows that even though other industries are rebounding, the situation has not yet improved meaningfully in housing.
These figures stood at 24% in April and 31% in May, before falling slightly to 30% in June. One third of the 30% in June made a partial payment, while two thirds made no payment at all….
How is this a surprise? And how is it that mortgage loan payments were not suspended along with the rest of the economy? At the very least they could suspend the principal portion of the payments, since principal is simply destroyed with each payment anyway. The banks only keep the interest. But with the scamdemic, the banks stand to take possession of a vast amount of real estate, as they did during the fed-staged “great depression.” How convenient.
Have you noticed? We live under an aristocracy which reigns with impunity.