Re:Another 1.3M Americans File for Unemployment
by paulmd on Thursday July 16, 2020 @02:11PM
(#23861927)
I think local credit unions are a bit different than banks. I don't think JP Morgan or whatever would probably give that same consideration.
But I do take your point that banks don't necessarily want to immediately boot everybody out, foreclose, and crash the market at a time when potentially not a lot of people are buying.
Do bear in mind that the Fed has injected a shit-ton of cash into the market right now, and there actually would be more buyers than you think - it's just that they would be rental companies looking for more assets to snap up at firesale prices.
But I do take your point that banks don't necessarily want to immediately boot everybody out, foreclose, and crash the market at a time when potentially not a lot of people are buying.
Do bear in mind that the Fed has injected a shit-ton of cash into the market right now, and there actually would be more buyers than you think - it's just that they would be rental companies looking for more assets to snap up at firesale prices.