NEW YORK (AP) — Most Americans who rent their home, many of whom have lost their jobs in the sudden economic slowdown caused by the coronavirus outbreak, will not be eligible for eviction protections, despite what President Donald Trump said this week.
I’m sure that uncle Ben will get right on that.
Well the owners probably won’t find any new renters so still won’t have any money. And as a land lord I can say if you have a good renter you better hang on to them cause there are a lot that will cost you more than the rent you get!
Of course they won’t be protected. You can’t create Trumptowns (modern day Hoovervilles) without mass evictions, now can you?
Evictions require legal proceedings and then the presence of law-enforcement officials to enforce the order. I’m not seeing that proceeding terribly fast, at least until we’re somewhat further along. But the executive and congress have to get their act together before then.
I know from personal experience a bad tenant is MUCH more costly than a vacancy.
What housing advocates fail to get is that good tenants and good landlords have a mutually beneficial symbiotic relationship.
But these are times of crisis. We need a blanket 90 day (at least ) moratorium on all evictions .
Also landlords who rent out their own home need to have an equal amount of protection with their mortgage holders if the tenants can’t make rent.
Same here. Actually my wife’s family’s property, but I get to hear all about it and try to fix things that get broken. We got one now that recently got laid off and his new job supposedly pays less. We allowed him to pay a lower rate for a few months, but he’s supposed to go back up and actually pay the difference soon. Wonder how he’s going to do with all this current crap.
All these small businesses being forced to shutdown and lay off their employees. But the land lords are still entitled to collect full rent? What is up with that? The pain has to be distributed equally.
If it’s taking this to worry them about Trump they probably have a lot more problems than just him.
If they really wanted to help everyone they’d freeze all debt and interest payments for 90 days. No payments on loans, credit cards, mortgages, or rent and no penalties. The Fed is literally throwing money at the banks, they are not going to go out of business over a few delayed payments.
Evictions will do more to promote the spread of the virus: living in your car, moving into close quarters with friends/relatives, filling shelters and camps. Suppose they’ve thought about this?
Actually, nothing about this response makes me think that anybody gave the possibility of a pandemic any thought until sometime after the first of March.
Due to the financial meltdown in 2008-2009, Wall Street investors, hedge funds and equity funds bought up many distressed properties on the cheap and are now making big bucks renting them out.
The fed pumped in more than 16 trillion to prop up the financial sector starting in 2008. Total amount of home mortgages in the 3rd quarter of 2008 was only 9.294 trillion. Approximately 6.41% of home loans were delinquent and 2.75% of loans were in foreclosure as of August 2008. The estimated value of subprime adjustable-rate mortgages (ARM) resetting at higher interest rates was $500 billion in 2008.
If the fed temporarily took over the troubled mortgagees and lowered their interest rate to 2% until things stabilized, only a trillion would have been needed for 5 -8 years. That’s figuring a little over ten percent of the total mortgage market at the time. The homeowners could have refinanced once their situation and the economy stabilized. But priorities were priorities. Banks were getting zero percent money from the overnight fed window for years. Then there was the quantitative easing program which helped only investment banks. They were taken care of in so many ways.
Same old, same old - it’s government of the landowners, by the landowners, for the landowners.
Of all the pejorative epithets I’ve seen lavished on Carson, that’s the one I find too evocative of some really ugly sentiments.
He’s a really ugly person.
let’s see what small businesses get
I’m not gonna hold my breath
45’s administration is going to want to talk a good game with out actually helping any one but the wealthy.
Absolutely. But there are so many ways to express or demonstrate that without reminding me how uncontroversial demeaning and stereotypical commercial images were for so long, and how that’s the exact frame of “mind” to which Drumpf and his deplorables would return our whole country. On a related note, don’t get me started on the use of Uncle Tom as a pejorative epithet.