John Rubino returns… Argentina defaults on its debt for a change. Housing market implodes. While many of us working at home haven’t felt the full brunt of the quarantine, those who have to go to a physical job there’s risk involved. Housing isn’t the epicenter of the collapse this time, it’s more collateral damage. Houses are not a substitute for savings. Second homes will become a luxury that few can afford. Most people are used to bubble market prices and that’s about to change. And Airbnb hosts are in real trouble, no one is traveling or going on vacation. No one wants to go into a stranger’s house right now.
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