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About Those Layoffs Being Only Low-Wage Renters?

School Districts in MA Laying Off Teachers Just one example, but join that with Boeing Layoffs, a wave of tech IPO layoffs, Stanford University projecting layoffs, we are going to see white collar suffering in this recession. Nearly every sector has contracted. Teachers are homeowners, as are many of the white collar workers (admin and faculty) at universities. There is going to be an economic shock felt through the white collar, it’s just delayed on earnings, budget cuts, etc... these processes move slower in corporate America than the restaurant or hair salon around the corner.

Not a “doomer” but a realist. We are still early in this economic situation, jobs will continue to be lost even after lockdowns are lifted, forbearance will end with a political resistance to extension from the right. Don’t take a few weeks of data distorted by a heavy supply/demand imbalance as a sign of a V shaped recovery and all is back to normal.

I’ve continued to argue with extremists on both sides here, and have been called a delusional bull, and doomer by multiple parties for it, maybe we can have a rational discussion?

submitted by /u/smc733
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source https://www.reddit.com/r/RealEstate/comments/gtqz6d/about_those_layoffs_being_only_lowwage_renters/
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