No Place to Hide

 

Every where you bother to look in banking news you will find a common theme.  Loan delinquencies are creeping higher.  Foreclosure activity is increasing.  Eviction numbers are up.  Homeless people are no longer found as individuals but in small to large "encampments".  

The number of "Great Americans" who live by the mantra "fake it until you make it" are seeing the results of going into debt up to their eyeballs and then having interest rates slowly but surely increase over the past year.

Higher interest rates combined with higher property taxes and higher homeowner insurance premiums are slow roasting them in a debtor's hell.  Add onto that a little extra heat from overdue home owner's association dues and you have a perfect debtor bar-b-que recipe.

The student loan / Covid 19 forbearance fiasco comes to an end in September unless there is some sort of intervention performed by the Supreme Court.  My opinion is that "Joe Biden and Company" are not the law of the land and should not be allowed to dictate an end to contract law.  People borrowed the money - cough it up and repay it.