During the summer, there were approximately 23 million Americans without jobs. To put that into perspective, in the double-dip recession in 1982, we had 2.7 million. The early 1990 recessions, 2 million; the dot-com bust, 1.9 million; the great recession, 2.6 million. This is 10 times higher than any other unemployment rate that the US has ever seen.
The lockdowns, jobless rate, and the inability for homeowners to pay their mortgage has caused what some are saying will be the biggest real estate crisis in history.
In this Quarantine update, Robert explains this tweet:
“REAL ESTATE CRISIS. 6 million homeowners in FORBEARANCE. Sad. Before they can receive stimulus money, they need to qualify for new loan. If they lost job or lost credit they may lose home. Opportunity for investors. Sad news for homeowners business & country. Pandemic must end.”
Tweets by theRealKiyosaki