Evictions

[Ponzio]

Another problem that's flying under the radar is the issue of evictions for the elderly, etc. in various states during this pandemic. Only 1/3 of Americans own their homes, mostly with a mortgage.

I want to make clear; I AM NOT DEMONIZING LANDLORDS. I have family & good friends who own rental properties. And I've seen the results of the 'deadbeat' renters from hell.

But with the current unemployment numbers, I'm seeing and reading more & more stories like these.
https://www.star-telegram.com/news/local/article242571586.html

We seem to be throwing the baby out with the bath water.

 

[Irvrobinson]

I will never be a landlord. It can be a massively difficult job. On the other hand, I've had four landlords in my lifetime, three corporations and an individual, and they all sucked. Misrepresentations, odd orders and inspections, rent increases that raised the cost higher than they were charging new renters (a common trick in California), and sometimes a lack of proper maintenance. I did see one heartening sight yesterday though. My corporate landlord for my work apartment in Santa Clara was offering me a new lease at ~$2600/mo for a one bedroom in late 2017. Out of curiosity, looking at their website yesterday, I see that similar apartments in that complex were going for $2130/mo. Between seeing that and Trump getting his comeuppance, I hate the virus just a tiny bit less than I did the day before. Like one ounce out of a ton, but nothing else about this virus has made me smile.

 

[Trell]

Another problem that's flying under the radar is the issue of evictions for the elderly, etc. in various states during this pandemic. Only 1/3 of Americans own their homes, mostly with a mortgage.

I want to make clear; I AM NOT DEMONIZING LANDLORDS. I have family & good friends who own rental properties. And I've seen the results of the 'deadbeat' renters from hell.

But with the current unemployment numbers, I'm seeing and reading more & more stories like these.
https://www.star-telegram.com/news/local/article242571586.html

We seem to be throwing the baby out with the bath water.

Your linked article is from May 7th, but still very much relevant. The covid unemployment benefits has lapsed end of July (?) due to G.O.P. refusal to extend them, so I expect this will get worse.

Also turned down by G.O.P. was funds to states, and as US states has to have a balanced budget (if I recall correctly), that means the states has to cut cost i.e. fire firefighter, health personnel, police, teachers etc.

This will make the pandemic worse.

 

[Ponzio]

Your linked article is from May 7th, but still very much relevant. The covid unemployment benefits has lapsed end of July (?) due to G.O.P. refusal to extend them, so I expect this will get worse.

Also turned down by G.O.P. was funds to states, and as US states has to have a balanced budget (if I recall correctly), that means the states has to cut cost i.e. fire firefighter, health personnel, police, teachers etc.

This will make the pandemic worse.

It may become a problem here in Pennsylvania. Governor Wolf put a stay on evictions back in March but a landlords association is currently in the Pennsylvania Supreme Court (with a conservative majority) trying to get it overturned.

 

[Trell]

It may become a problem here in Pennsylvania. Governor Wolf put a stay on evictions back in March but a landlords association is currently in the Pennsylvania Supreme Court (with a conservative majority) trying to get it overturned.

This is very difficult situation for all involved that would have been lessened quite a bit, I believe, if the Democratic unemployment benefits in the CARES act was allowed to continue after July. The unemployed could still pay their rent while those not covered would not be that much of a burden. The landlords are not without hearts, but they resist going bankrupt as well. I think they should lobby G.O.P. or just outright not support them, publically, in this election.

Home owners (i.e. renters with huuuuuge mortages in some locations ) have enjoyed much more protections against eviction since the Great Depression than renters, but I'm note sure if that still extends to failure to pay taxes. I seem to remember that failure to pay taxes was a major cause for evictions in the Great Depression, but I'm on shaky ground here as I can't currently find the article I read that some time ago.

 

[mtrycrafts]

Your linked article is from May 7th, but still very much relevant. ...

And today it may be much worse.
This is what happens when you have a national disaster and emergency and there is not a unified leadership and approach to it.

 

[lovinthehd]

Since drumphy (and the Kushner schmuck) is a landlord, and a mortgage holder both....which way does he go? Gets some more Russian backup financing to pay his creditors and then starts evicting those who can't pay rent as well as potentially buying some real estate bargains that could emerge?

 

[Ponzio]

Since drumphy (and the Kushner schmuck) is a landlord, and a mortgage holder both....which way does he go? Gets some more Russian backup financing to pay his creditors and then starts evicting those who can't pay rent as well as potentially buying some real estate bargains that could emerge?

Yes, probably back to the Russian infiltrated Deutsche Bank or to his good buddy MBS (Mohammad Bin Salman Al Saud), the crown prince who's expected to replace his father, the current King of Saudi Arabia. His Chinese backers have dropped out, ever since Trump seriously started the trade war with them.

He's in hock to his evil doll-boy ears, as he is on his other properties, especially with his hotels in NYC. The debt collector beckons, so he'll be screwing his reantal tenants more so than normal.
https://theintercept.com/2020/04/04/jared-kushner-real-estate-company-evictions/