People fleeing the cities buying New homes, while people are getting kicked out of their old homes?

By LillyLane | Economy Today | 7 Dec 2020

What's wrong with this picture?

Wallstreet is pushing on stocks and ranting how Homebuilder's are the way to go. But wait, what about all the people ditching their homes because they can't pay rent or mortgage? What are you left with?

From what I have gathered is people are fleeing the city and buying new homes. Rightfully so, with this Pandemic, I also wouldn't want to be living like sardines. What will happen though with all these new homes being built, bought, and families move in them? Job's are on the low, and people can't afford their mortage or rent.

With no Bill in sight to help the people about to lose homes, the future is looking pretty bleak! We don't need a repeat of the 2008 Home crisis. Rates are at an all time low, banks are able to give out loans. Soon, people won't be able to pay loans back, eat food, and have to leave their homes.

Scary thing is when and if the tide goes the other way. There will be an abundance of vacated older homes left and NEW homes overbought. I am Not sure if Congress got the memo on the danger of this becoming a possibility. Will we be living in a MAD MAX world? Congress better stand up and do their jobs, we are their boss and they work for us. DO YOUR JOB POLITICIANS!

Xxx

Lilly

economy Stimulus Housing Homeless Housing future

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LillyLane

Hi my Name is Lilly! I am just another casualty of the Pandemic, job loss, sadness, desperation, scared of not knowing what to do in this uncertain world. How will I pay the bills, put food on the table. Like so many others, I turned to the Internet.

Economy Today

We live in dark times and with that comes uncertainty of our future and how/where will the economy go? People running from the cities to the burbs, people are getting kicked out of their homes. How many houses do we need in the market if people don't get help and kicked out of their homes? Will we be left with a bunch of vacated homes?

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