(08-05-2021, 03:59 PM)StroudCrowd1 Wrote: Playing devils advocate here, banks did offer mortgage assistance or delay throughout this whole thing.

At the end of the day, it's the renters that will take the punishment. Foreclosures will be picked up by other landlords. Wash, rinse, repeat.

The banks did that for a reason, it wasn't to help. Banks knew if you are short now, you won't be able to pay the amounts you saved not paying when the bill comes due. They could have fought it, kept charging you interest, late penalties, etc and end the end nothing would have happened. Foreclosing would have hurt the housing market, interest rates were low, etc. Now prices have skyrocketed, so they will cut loses, corporations are paying over market price and locking consumers out of the market.

Now regular people will not be able to buy investment homes and rent them out. If you do, you will have to require 1 year in advance just to have a chance at keeping from going broke yourself. Most people will see that as too much risk and get out while the market is high. That leaves the large corporations as the only buyers, paying over market, and having enough cash to withstand not being paid. Then the government offers cash to the corps to take care of them.

The people have been taken out of the housing market at that point and you can't own because they won't sell.

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