Predictions for when moratorium ENDS!

[Alex B.]

Hey BP team,

I need some expert advice, has anyone experienced a nation wide moratorium before??

If so what happened afterwards? Let me guess evictions and foreclosures right??

I am ready to jump in this game but I figure I wait for after the moratorium ends. For us in Ca moratorium was extended to Feb 2021.

What are your thoughts? What’s your game plan?

[Martin Michael]

I know this sounds like a doomsday scenario but I see one trend as a possible result of the Covid madness. People are escaping big cities, looking for space and more quality of life in the suburbs. They buy land and properties in rural areas since there work can be done remotely. But what happens if 

a) they lose their job or 

b) their employer realizes that they can now pick any available worker in the country who works remotely. 

I see a huge shift in the job market where remote workers HAVE TO but also CAN compete for jobs nationwide. This will result in a drop in income and ultimately impact real estate prices. 

Why would company A care about Peter and his $120k salary and $2,500 mortgage in New Jersey when Greg in Tennessee offers to do the same remote job for $80k.

Ultimately, you could then ask, why company A would even look for candidates in the US.

I understand that this is really a doomsday scenario but IMO, many people moving to the countryside haven't realized that their future job market might be highly competitive and paired with a drop in salary expectations.

My 2 cents for Friday.

Stay positive :D

Martin "Dr. Doom"