A foreclosure crisis is looming — but here’s what’s different from 2008

“The V-shaped recovery has been interrupted”

Though a foreclosure crisis is on the horizon, experts say recent fiscal policy will prevent a full collapse of the financial system.

“It’s a slow-moving process,” Bill Emmons, an economist at the St. Louis Federal Reserve, said during a presentation on housing insecurity on Wednesday. “It definitely looks like there will be another major event, but hopefully not as bad as the foreclosure crisis associated with the Great Recession.”
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RSK: If there is truly a second wave this may get ugly. Banks are going to have to tread water with their mortgages for some time.

Ken Notes: Of course there will be a second wave. We have wasted three trillion dollars, we will run out of the ability to print cash and the market will forever be changed...



- - Volume: 8 - WEEK: 40 Date: 9/29/2020 8:32:32 AM -