You don't understand human psychology. if someone was already planning on not paying rent because they have the money but they heard there is a moratorium on evictions, they're not going to anyway.

I've still got a few doubts though: for example the opposite would happen with an overvalued stock, driving total value down, and relying on price increases coming from investor psychology instead of intrinsic value runs the risk of creating bubbles via the greater fool theory.

The benefit might be psychological,  but the math doesn't really hold. 

In the short-term, it measures human psychology and emotion. 

You can either point to history or (more my favorite) human psychology.

Hi Everyone,I am new to real estate investing and am less than 6 months from completing a doctorate in clinical psychology.

I will say that for lenders, if you're going to meet one it helps if you have a deal you've done that you can talk about with them, or a specific deal you're considering - or at least some examples of what you're looking for, and the more specific the better.Basically, the more that you can show that you're serious, either by having a track record or by being able to talk intelligently about the kind of project you'd potentially ask them to lend on, the more seriously they'll take you as a potential borrower.It's not unlike a startup seeking funding from an angel investor, there's a whole psychology to it as far as showing that you have some knowledge and presenting it as a safe lending opportunity for them without coming across as "needing" the money because any hint of desperation will turn off a lender or investor quickly.BP has some great resources on this, you could search Bigger Pockets Raising Private Money or something like that.

@Sydney Sherman while I understand the underlying thought and care process'  people have when they go to solving something via some form of payment, but on the psychology level it's just money which is such a nothing item, I mean it's not personal in any way, it dosn't convey care or consideration, it's just money, and often people are impacted in that way. 

I will concede that there are psychological benefits to paying off debt though.

If you need motivation on how to succeed in adversity, on what it takes psychologically to fight through feelings of self-doubt to achieve what most people would imagine was frankly impossible, READ ABOUT GEORGE WASHINGTON.One of the most powerful things you can do is sit down and start asking yourself WHY you want to do this.