The average American stay in a home is has been ~8 years.
That number is going to double with rates like this.
Given that the American system is supposed to be a market that's a bad sign: frozen markets are not efficient markets.
This doesn't mean people can stay in their homes in a crisis: it means people can't move. A job the next city over would have to pay thousands more to make selling your home a rational decision. The article says it's on average $511/mo different.