Did You Know? The national eviction ban and some state and city protections are set to expire by January or sooner. Renters will then be on the hook for months of missed rent payments, which even those who have jobs could struggle to pay. Outstanding rent debt would reach $7.2 billion before the close of 2020. Moody’s Analytics estimates that it could reach nearly $70 billion by year-end if there is no additional stimulus spending, calculating that 12.8 million Americans would then owe an average of $5,400 from missed payments. While terrible, let's put this into perspective: During the 2008-9 financial crisis, the $1.3 trillion subprime-mortgage bubbles burst, leading to a national wave of defaults and foreclosures. (WSJ)
Did You Know? Zoom use jumped from 10 million a day in December 2019 to more than 300 million a day by late March. (WSJ)
Did You Know? American households watched 4 billion more hours of television in 2020 versus 2019.
Did You Know? Disruption is not a new thing at all..... This past weekend in 1861 Western Union completed the first transcontinental telegraph line across the US, making nearly instantaneous cross-country communication possible for the first time. Previously, it took 10 days for a letter to be sent from Missouri to California via the Pony Express.....two days later the Pony Express shut down operations.
