The increased number of evictions does not necessarily mean the decline of capitalism. Writing for Housing Wire, Housing Data Analyst Logan Mohtashami rejects the idea of a housing bubble, and says that sales of homes have actually increased in recent months.
There won't be another housing crash for many years, according to Mohtashami, which should preserve American capitalism for now.
Even if the housing bubble did burst, the U.S. is so steeped in capitalism that it would take more than a housing crash to get out of it. Robert Colvile, Director of the Centre for Policy Studies, says that capitalism is the most optimal form of economics.
We should be grateful, he says, that we have all of the technology to survive in our own private homes. Colvile writes that capitalism has let innovation flourish during the pandemic, from distilleries making hand sanitizer to AstraZeneca testing a coronavirus vaccine. None of this would have been possible without capitalism.