Over the last couple of weeks, we’ve been looking at the nation’s forthcoming delayed debt crisis. Last week, we considered how foreclosures and auto repossessions will likely increase over the next year as borrowers are forced to repay debts that were postponed during the height of the pandemic. Repossession Lot Inspections and Occupancy Verification Inspections, we argued, will become all the more important in this light.
Earlier this week, a bona fide controversy erupted among sneakerheads—shoe collectors who often turn to the reseller market to secure coveted, rare, and flashy shoes unavailable on manufacturers' direct-to-consumer channels. Joe Hebert, a 19-year-old shoe reseller, was profiled by a Bloomberg reporter who discovered that Hebert’s mother, Ann, was Nike’s Vice President and General Manager for North America. This means that Joe’s mom worked for the very company whose shoes he acquired en masse and sold at huge profits, earning up to $300,000 per month.
Over the last year, employees across the country proved they could remain productive despite working from home, addressing one of the dominant concerns among employers regarding remote work. Now, employers are salivating at the opportunity to lower their overhead by reducing or removing office space, while also looking to mitigate other potential pitfalls.
Earlier, we described how the looming delayed debt crisis will likely lead to an increase in auto repossessions (and the need for Repossession Lot Inspections) over the next year. We are continuing to examine this forthcoming crisis, today looking at how foreclosures are similarly expected to rise in this period.
A lot of people have struggled through the pandemic as unemployment, medical costs, and a general economic decline all seemingly conspired against American households over the last year.