Israel Figa Predicts a Rise in Homelessness as a Result of the Pandemic

Everyone is worried about their future right now. People are trying to find a way out of the current situation. Many have lost their jobs and are now considering their own startups to never be back in this position ever. On the other hand, some people are sitting in despair and they have nothing else to do and nowhere to go. The current situation is causing a lot of financial distress to people who were already poor or in the working class. Based on these circumstances, Israel Figa believes that homelessness will rise around the world, not only in the small countries.

What factors are leading to this heart-rending situation? Let’s find out what Israel Figa has to say to know the truth.

Migrants Are Suffering

The first people to suffer from the current pandemic situation are those who are living as migrants in other countries. These countries are facing a hard time, and employers are finding it challenging to keep everyone on board. In many cases, people who migrate to other countries opt for any profession even if they don’t have proper education. The conversion rates of the currencies make them rich in their home countries even if they are only driving a taxi in the foreign country. However, with the current outbreak of the virus and people saving their money for the worst case scenario, these people are suffering big time.

They will try to live and feed with the money they already have in their bank accounts. The money they send home will shrink as time passes. If the situation of the pandemic does not get better, there is no way for them to send any money home after a few years. This will cause their families to go on the roads and in the streets. In other words, these people will become homeless if the only breadwinner in their families is the person who has migrated to another country.

Prices of the Properties Are Rising

People who wished to own their homes are mourning right now because the house market has gone up. It is something quite unimaginable. When the pandemic started, it was predicted that the house market was going to become affordable. Of course, when people don’t have buying power, you don’t have buyers in the market. When there are no buyers, the sellers have to find a way to persuade the little buyers who are available by lowering the prices of their homes. The opposite has happened during this pandemic. People have increased the prices of their homes in many countries.

This has resulted in people who wanted to buy their homes not considering a purchase at all. In other words, these people will now be forced to live in rented homes. This will take a huge chunk of money out of their monthly income. Not to mention, if they lose their jobs, they will be in an even worse situation. This, as a result, can cause more people to sleep on the streets than in their bedrooms.

Killing Medical Costs

The worst that can happen to a family in this scenario is someone getting infected with the coronavirus. If the person ends up in the hospital, the families will have to spend on their treatment. Not to mention the double impact that will be caused if the person who gets infected and admitted into the hospital is the only breadwinner in the family. Medical costs, even in the biggest and most developed countries of the world, can be extremely excruciating. They don’t just leave a dent in the budget of a person but make them go bankrupt. As a result, these people might also become homeless.

Final Thoughts

Israel Figa says that he does not want to paint a very dark picture of the post-pandemic world, but he has to tell the truth. According to him, people should think of alternative means of making money as soon as possible rather than relying on the money they have saved in their banks for many years.