As a result of the government locking down the economy out of fears of spreading the flu, mortgage delinquencies are now at a decade high.
Mortgage Delinquencies Soar To Decade High https://t.co/tQ443JZfyO
— zerohedge (@zerohedge) August 25, 2020
We are essentially looking at a situation where millions of people will default on their loans due to non-payment. This is going to cause a major problem for the banks as well as cause a massive increase in homelessness.
When you combine this with renters being unable to pay their rent, we have a fairly major societal disaster that is about to unfold.
