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As usual c2bp has a skewed view of the world outside his head
Yes, let them all go BANKRUPT and OUT OF BUSINESS. Let's get this straight, landlords are speculators or investors. Landlords with mortgages are investors who took out a loan and invested someone else's money, consciously taking on a huge risk. Renters are their customers and source of revenue, as it usually is in business, that income is never guaranteed. Just like some companies are suspending dividends or failing to fulfill their financial obligations, renters may just refuse to pay and leave it up to landlords to deal with it.
For years those Vampires profiteered by convincing everybody that RE is a bullet-proof investment, driving skyrocketed prices and tightening supply for those who actually want a home for themselves. And we're talking residential RE - a necessity for any human being, hoarding and speculating in tough times deserves 0 sympathy. Now was the time for this to stop and for everyone to have a reality check regarding their investment strategies.
So now Taxpayers are bailing out those Vampires. Am I the only one who thinks this is just wrong? If investors can't afford the expenses, sell the home. Investing has risks. How many times do we hear no risk, no reward? All Landlords knew this. They don't want to accept it. No bailouts!!!
Yes, let them all go BANKRUPT and OUT OF BUSINESS. Let's get this straight, landlords are speculators or investors. Landlords with mortgages are investors who took out a loan and invested someone else's money, consciously taking on a huge risk. Renters are their customers and source of revenue, as it usually is in business, that income is never guaranteed. Just like some companies are suspending dividends or failing to fulfill their financial obligations, renters may just refuse to pay and leave it up to landlords to deal with it.
For years those Vampires profiteered by convincing everybody that RE is a bullet-proof investment, driving skyrocketed prices and tightening supply for those who actually want a home for themselves. And we're talking residential RE - a necessity for any human being, hoarding and speculating in tough times deserves 0 sympathy. Now was the time for this to stop and for everyone to have a reality check regarding their investment strategies.
So now Taxpayers are bailing out those Vampires. Am I the only one who thinks this is just wrong? If investors can't afford the expenses, sell the home. Investing has risks. How many times do we hear no risk, no reward? All Landlords knew this. They don't want to accept it. No bailouts!!!
You missed the part about the Government banning landlords from evicting non paying tenants. The government caused the losses and now has to pay up for interfering in the market.
That being said,
I didn't agree with the eviction ban, as the gov was giving out plenty of free money for everyone to pay there rent.
This is just another plan to put the taxpayer on the hook for all rent. Not renters, not landlords: taxpayers fund everything. How nice. Until the money runs out. Then what?
Except that the govt. banned evictions basically sticking it to the landlords.
If the government had not tied the hands of landlords then I would fully agree with you.
I know of at least one landlord who has a tenant or three that could have kept paying rent but figured that they'd just stop paying and live large since they couldn't be evicted until sometime off in the future.
The coming eviction wave is going to be the "big story" eventually, they just keep extending the ban which now runs through July.
.....The coming eviction wave is going to be the "big story" eventually, they just keep extending the ban which now runs through July.
I agree. The problem is, the Government most likely is attempting to avoid turning the entire United States into a huge San Francisco, so they keep pushing the out the date for cutting off the subsidies, hoping for a miracle to occur...
Yes, let them all go BANKRUPT and OUT OF BUSINESS. Let's get this straight, landlords are speculators or investors. Landlords with mortgages are investors who took out a loan and invested someone else's money, consciously taking on a huge risk. Renters are their customers and source of revenue, as it usually is in business, that income is never guaranteed. Just like some companies are suspending dividends or failing to fulfill their financial obligations, renters may just refuse to pay and leave it up to landlords to deal with it.
For years those Vampires profiteered by convincing everybody that RE is a bullet-proof investment, driving skyrocketed prices and tightening supply for those who actually want a home for themselves. And we're talking residential RE - a necessity for any human being, hoarding and speculating in tough times deserves 0 sympathy. Now was the time for this to stop and for everyone to have a reality check regarding their investment strategies.
So now Taxpayers are bailing out those Vampires. Am I the only one who thinks this is just wrong? If investors can't afford the expenses, sell the home. Investing has risks. How many times do we hear no risk, no reward? All Landlords knew this. They don't want to accept it. No bailouts!!!
Keep playing that scenario through to the end, then ask yourself a few questions:
1. Did the wave of landlords failing result in an improved situation for their tenants? (Hint: no)
2. What happens to those landlords after they fail? (Hint: not what you're hoping will happen)
3. Do you really think for a hot second that this would lower RE prices or result in any improvement for the people on the wrong side of the income inequality scales? (Hint: lol and no)
Unless this is purely about punishment for you and not what's for the greater benefit to society, I cannot see any scenario where simply letting the rental market collapse accomplishes anything remotely close to something positive. Those homes would just sell to other investors and wealthy cash buyers while the 3% down worker looking for a nice affordable home for his family gets to keep on getting priced out.
Let's also be clear: the "taxpayers" aren't the gainfully-employed middle-class in the US anymore. Anyone making under around $150k is contributing peanuts to the tax pool, so the real "taxpayers" in your example are same high-wealth individuals and businesses, many of whom have financially benefitted from all of this "Vampire" speculation and investment. If you really want to stick it to those people, then programs such as this is how you do it.
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