Housing "expert" thinks 30 million people are at risk of being evicted.

I love it when idiot "experts" extrapolate fairly recent past trends forward despite the fact that if they looked even further back in history they would see a different story.  Today's example is this so called "housing expert" (whatever that is...) who fears that 30 million people are at risk of eviction.

As I stated in yesterday's discussion of this, it is not the people who need to worry but rather the landlords.  You see, a ton of investor money has been poured into buying rental property because of the great income stream it provides while your property appreciates.  Yes, property always goes up.  That's what people think.

But that's only what happens in the fat middle of the cycle.  Toward the end of the cycle everything is turned on its head because the politicians fight each other to buy votes to stay in power.  There is an old saying which I am sure everyone has heard which basically says if you owe the bank a few hundred K and you stop paying, you have a problem but if you own a few hundred million, the bank has the problem.

Same with housing in normal times if a small number of people stop paying rent then they have a problem.  But in times that we are heading toward a large number of people not paying rent is the landlord's problem and the bank's problem.  If everyone is out of work in a depression and you try to throw just 5 million people into the street, forget 30 million, just 5 million, that is enough to cause havoc that has never been known in the USA before.  You think those people will just lie down and die?  NO.  They will blame someone else.  Anyone else.  Anyone who has something will be at fault.

Many of these people could have saved something aside for a rainy day but no, they spent it all on cars they could not afford, upscale apartments they could not afford, trips here and there and everyone in order to get "experiences", etc.  Each dollar that came to their hands left their hands with an extra 5 cents that came from a credit card.  And this happened for YEARS.  So now they are in debt to their eyeballs and cannot pay rent or make car payments.  Their stupid liberalism caught up with them.  They have no savings and a ton of debt.  That is liberalism 101.  Never worry about tomorrow, spend it all today and then some.  Like I have always said, liberalism is the tendency to consume before producing and that is so obvious today.

The only problem for the rest of us is that liberals can vote.  They will vote us out of our wealth.  Why?  Because they think they want it more than we do.