LendingTree's Kapfidze: The economy will be hurt by the coming eviction crisis

Tendayi Kapfidze, chief economist at LendingTree, says that a looming eviction crisis will have a dramatic impact on the economy, even if the number of actual evictions is held ni check by lawmakers. Kapfidze noted that the economic troubles hidden in renters unable to make payments and landlords unable to collect rents will make it that the economy can;t recover to pre-coronavirus levels soon. While the decline itself may not be deep and traumatic, Kapfidze notes that 'A 10 percent sustained decline in the economy is a significant thing and will do a lot of damage to the economy as a whole.' Also on the show, Jean Young of Vanguard discusses how few of the firm's investors showed signs of panic during the market downturn in February and March, and that those who did exit for the safety of cash mostly would have been better off sticking with stocks, David Trainer of New Constructs says Wayfair may be popular but the stock is headed for trouble, and Kathy Boyle of Chapin Hill Advisors talks funds and ETFs in the Market Call.