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I'm sure they will extend the protection, esp with a Dem president in the WH. It just kicks the can down the road as eventually the issue will need to be dealt with.
The government has provided a lot of extra money to unemployed during the pandemic so I don't know what people are using that money on if they can't pay their mortgage.
Much of that money ends up going to buy Chinese-made stuff. The stimulus, in many ways, is designed to stimulate Chinese businesses. It makes sense, given how much coin China invests in campaign contributions of US elected politicians each year.
But yes, an increase in homelessness because some tenants have destroyed their landlord reference and their credit. Those are going to have a very difficult time finding any other landlord who will accept them. Nothing makes for renting hardship like an eviction on your social record.
Of the landlords I know (and I know a lot of them) all of their non-paying tenants have income of some sort or another. Many of them are receiving a government check that is the same after Covid as it was before Covid, so no reduction in income; the government told them they don't have to pay rent, so they are refusing to pay. It was already difficult to find any landlord who would accept Section 8 or other welfare programs and add an eviction for non-payment to that and it is blue tarp city.
Tenants who lost jobs and whose unemployment couldn't meet the rent all either moved out or made arrangements with the landlord to pay as much as they could as soon as they could, and they are on payment plans. They are much less likely to be evicted.
Some tenants with reduced incomes combined households, so more paychecks to pay the rent. They have had economic hardship, but they are not going to be evicted. Some tenants with reduced income switched to lower rent rentals that they could afford; they aren't going to be evicted.
People who take responsibility for themselves have figured out how to avoid being evicted. So limit your sympathy because it is deadbeats and leeches who are going to end up in court.
There was no eviction moratorium in Idaho. People are expected to take responsibility for themselves. This year with Covid the eviction rate was 1.4%. In 2016, the eviction rate was 0.61%. So evictions have gone up. But nationwide the eviction annual average has been 2.34% so even with Covid, eviction rate in Idaho is quite low.
The liberal think tanks are predicting that 21% of renters will be evicted when the ban is lifted. So 21% evictions where there has been an eviction moratorium and already proven to be 1.4% of evictions where there was never any eviction ban.
My take on this is twofold: renters have been able to pay the rent. Renters who are not paying the rent are not paying because the government told them they don't have to pay. The other observation is that the predictions for future evictions are massively exaggerated. They are a fright tactic to wring more money out of the taxpayers and to take away more freedoms.
One of the states where the bans were lifted over the summer only had a very slight increase in the number of evictions. There was no flood of tenants being evicted. (Ohio? Midwest somewhere)
The government has provided a lot of extra money to unemployed during the pandemic so I don't know what people are using that money on if they can't pay their mortgage.
Around here, they've been buying toys. Motorcycles/dune buggies/side by side's/boats & and all other recreational toys.
Go into any motorcycle store. See how much inventory is on the floor. It's like there was a "buying frenzy."
I guess not unlike what's happening with the real estate market, currently.
Agree. In a big city for a decent apartment (in an affordable city), you are looking at $1500 per month. Then add utilities, food, and other miscellaneous expenses and $300/week you will not be able to afford your monthly expenses. And that assumes you're only supporting yourself and not kids. Not to mention you won't be able to put away any retirements savings.
True. With that said, I'm not sure where you draw the line.
I have some family members who owned a painting business. They had about fifty staff members, including one of my aunts and her son. Those two were making like $12/hr each. The $600/week was a windfall to them. To a waiter in a nice NYC restaurant, it was probably a big pay cut.
The $600/week goes pretty far here in northeast TN, and it's above median HHI. My mortgage is only about $675/month. I would have had to chop out a lot of lifestyle stuff, but wouldn't have lost the house or anything. For someone in NYC, they still might lose their place. The people who have been out of the longest in the hardest hit industries are pretty unlikely to find anything paying close to what they had before the end of the year.
Millions of people have missed housing payments and are deeply in debt as a result. If you think an eviction on your record ruins your chances, take a look at what a judgment will do to your credit rating. The landlord is an unsecured creditor, but if they are going after months of back rent, collecting is worth the hassle.
Extend the eviction moratorium and you will have landlords going bankrupt, and there is no homestead protection for rental property. I have cousins who live in a college town and structured their retirement around rental income. If people are carrying a mortgage on rental property, they may be in a world of hurt.
Repairing the economy is going to be tough. People have gotten out of the habit of spending money on hotels and meals. People have learned to cook for the first time in their lives, and as a result have saved 2.4 trillion dollars. They aren't going to spend that money on something that goes down the toilet a day later.
why cant the government pay the rent for the tenants and mail a smaller check for grocery and misc?
so landlords can pay their mortgage and tenant can stay put and have food
why cant the government pay the rent for the tenants and mail a smaller check for grocery and misc?
so landlords can pay their mortgage and tenant can stay put and have food
Write the govt a check so they can do that ....in fact we all want our rent and bills paid ....why bother working ...
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