A Third of Americans Have Outstanding Housing Payments
Many readers out there are likely more than a little fed up with the fact that most of the news cycle in 2020 has been centered entirely on the novel Coronavirus, which first appeared in China way back in January and quickly made its way to America and over another hundred nations around the globe. This brought America’s economy to a complete stand still, and there are tens of millions of people in the nation suffering with unemployment and outstanding debt. This unfortunately includes a lot of late housing payments. It’s been reported that 32% of all Americans are late on their housing payments (both rents and mortgages) as of the beginning of August.
America has a whole lot going on right now, with many of its citizens in a state of civil unrest. Things like the virus have certainly taken their toll, while a reminder that system racism still plagues our justice system has millions and millions in an uproar. To top it off, government hasn’t done much of anything to quell the frustrations of homeowners and renters all across the country who cannot afford to pay their mortgages and rent yet are still in threat of being evicted.
This has led to dozens of different rallies in support of housing as a human right, a principle once thought radical left and only reserved for Marxism, yet is now becoming more and more mainstream as the counter of people behind on their living payments continues to climb. This is impacting nearly a third of all American households, and it’s reaching across socioeconomic lines. Poor people are suffering even more than they typically do, but it has even reached the middle class and the people who otherwise had security in their livelihoods and in their shelter.
To top it off, Congress is again at another standstill. Every time that America is going through a crisis, it seems, each of our main political parties decides that it’s the best time to get their pet projects pushed forward. Democrats want to hold the negotiations hostage to get through more spending and more handouts and changes to our entire voting system, while Republicans are seizing upon the opportunity to put in stricter crackdowns on illegal immigration and other projects they’ve had cooking in the works for years. The fact is that while the American people suffer, Congress tends to do what’s in the best interest of Congress, and this is causing an already frustrated populous to become even more heated.
The online rental platform “Apartment List” reported at the beginning of August that they have a third of their renters behind on their payments, and this backs up data from other authorities about the number of people unable to keep up with their home mortgages every month. Overall, 32% of the American people are having trouble paying for their homes, and Congress is busy bickering with one another about who gets to spend everyone’s money.
The Deterioration of More than Money
According to a lot of financial experts in America, one of the biggest problems the nation faces is a crisis of confidence. Consumer confidence was doing fine in late spring, as May turned to June. We had news that we were flattening the curve as a nation, and the jobs economy was making a huge rebound. But then things started to go downhill again. The curve never flattened, and cases of the novel Coronavirus continued to rise in dozens of states. States started to shut down their economies again, as mainstream media kept its collective finger on the panic button for 24 hours a day, pushing the idea that we were all in trouble as a nation dealing with this virus. And, to really toss that final straw onto the camel’s back, federal unemployment benefits ran out and everyone had already burned through that $1,200 of stimulus money.
The frustration is that, as Americans, we’re basically in the same boat we were in at the beginning of March in this nation. For all the trillions of dollars spent, and all that time at home sheltering in place, we appear to be no better off than when we started. So you not only have Americans frustrated and asking what it was all for, but you also have a third of Americans behind on their rent and perhaps bordering on being homeless.
There’s a reason that the Democratic Socialist movement for housing as a human right is starting to gain a ton of momentum.
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