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I made this as kind of an extension of the Inflation thread, which I commented in a lot on and constantly bumped it. But, as things seem to be accelerating with the economy now shrinking, gas and inflation going up even further now with all these sanctions and shit, the effects from COVID
So there is a number of things all interconnected. But they only stopped this foreclosure stall towards the end of last year.. so of course there is lag behind for cause and effect. Now that people have been having to pay for a few months, it is all catching up. And keep in mind, these are foreclosures so they were already delinquent for at least a couple months, no?
it is just another perfect storm of ongoing economic policy and regulation by the establishment.
I see some arguing here that this is different because the banks will only benefit from this. I literally made this exact point almost a year ago, when they were talking about lifting this fire closure and rent eviction policy, and people said I was crazy for suggesting such…. This is a post from July last year and just look at what I was saying and who said I was wrong…. Well, what is happening and who seems to be right?
Yes, the banks are the ones profiting off these foreclosures. I think people who were foreclosed on either irrationally tried to hold on to their homes, and not sell. Or just gave up without realizing what they are giving up.