The average American who "owns a home" moves every 7 years last time I checked. We are a nation of itinerants. Equity investments give better returns apart from political windfalls.
Still we're getting pretty derailed. I'm responding to your comment which was a speculative question.
Peak unemployment rate during the 2008 recession was 10%. So that's 3.6% of Americans renting and out of work. Many will miss payments and then resume after finding a new one. Or maybe there are two earners living there and they can cut in other areas until a new job is found.
Some will find cheaper apartments, and some will move in with family.
So, no, I don't think that'll be the spark for the next revolution.
When was the last time you applied for public housing? It isn't just a "fallback" for society when the economic structure falters. Even people in public housing struggle to keep eligible by showing certain proofs of PT income.
The parent claim was that a high percentage of renters implies an increase in unemployment would leave many homeless, which might increase civil unrest toward rioting aimed at the wealthy.
I'm saying the vast majority of renters would be in the same boat as mortgagers, which is that they won't lose their jobs. Of the minority that do, they may miss or be late on some payments, but ultimately recover and continue living there as they find another job or make other arrangements. The number who would legitimately become penniless and forced to move is small, and we have public housing available for those affected.
