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Prepare for The Crisis Now! Unemployment & Eviction - As the economic, political and social situations continue to deteriorate, these serve as the indicators of what is to come and now is the time to take the necessary actions to protect your personal wealth and families from the impending crisis. This video will discuss unemployment conditions and its effect on housing for Americans. We need to be able to accept that we are not going to get the complete truth from the government or the mass media on how bad things really are or how bad things could really get. In order to get the complete truth, we must pay attention to all sources of information around us both nationally and internationally. America is printing money to infinity, the FED interest rate is at only a quarter point, The national debt is looming at 26.7 Trillion dollars, the real unemployment rate is likely 16% which means 1 in 6 people can’t find work. Without legislation to incentivize employers to keep their employees on the payroll. Many employers will be dropping employees from the employment rolls and they will soon be joining the unemployment statistics. The general consensus is that people no longer feel their furloughed jobs will come back!
Over 100,000 businesses have shut down since the health crisis. 250 American Malls are projected to close within the next five years. 46 companies with over a billion dollars in assets filed for chapter 11 bankruptcy in 2020. Along with 157 companies with 50 million in liabilities and 33 US oil gas companies, and the list goes on. According to the Labor Dept, 1 million unemployment claims were filed just last week. 59 Million Americans filed for unemployment over the past 23 weeks.
Mortgage delinquency figures are tied directly to the unemployment rate figures which makes sense. For most Americans their rent or Mortgage is their greatest expense.
So, the unemployment status of Americans exceeding 90 days will lead to more mortgage delinquency and the increasing number of long term (90 days or more) of delinquency when usually foreclosures are considered. And once the state and federal eviction moratoriums expire, how long do you think it will be before the banks begin foreclosing on properties to begin covering their losses? As people become delinquent in paying their rent or mortgage landlords and banks will be forced to evict tenants in order to make way for people who can make their payments. This will mean families will have to begin racking and stacking in combined households.
If you have taken all the necessary preparations for your family and are fortunate enough to already own your home or have the wealth to keep your mortgage or rent in good standing. You may very well have a desperate extended family member with their family in tow knocking on your door seeking shelter. Will you turn them away? If not, then are you prepared to take them in and support them as well? Remember that they will probably be jobless with no income to support themselves or assist with groceries, utilities, gas, car repairs or anything else.
If you think that landlords and banks won’t put good people out on the streets, then think again!
Homeless tent cities are becoming a more common place around the country.
East coast, west cost and everywhere in between. It’s sad to see Americans reduced to this level. This is why we must accept the reality of the current situation and take action to prepare before it’s too late.
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