Millions Of Americans Are Expected To Lose Their Homes

dark covid winter is descending on the working-poor of America as millions of adults face eviction or foreclosure in the next few months. Bloomberg, citing a survey that was conducted on Nov. 9 by the U.S. Census Bureau, shows 5.8 million adults face eviction or foreclosure come Jan. 1. That accounts for 32.5% of the 17.8 million adults currently behind rent or mortgage payments.

h/t Bloomberg 

On Monday, we noted that on Dec. 31 many of the key provisions in the CARES Act are set to expire if there is no action from Congress. This could be catastrophic for 12 million America who will lose access to their Emergency unemployment benefits activated in the aftermath of the covid pandemic, which alone could be a drag of up to 1.5% to growth in 1Q, according to a recent Bank of America report. …

https://www.zerohedge.com/personal-finance/dark-winter-millions-americans-expected-lose-their-homes

There must be SOME reason our authority figures feel that it’s more important to dump families on the street than stop the hemorrhage of the money supply at the street level via the destruction of loan principal upon receipt by banks.    Maybe I should just shut up about this, but it’s so glaringly obvious and the consequences of ignoring it are so dire I have to think that somewhere someone who can do something about it will pay attention.

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