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California really seems to be intentionally driving their economy off a cliff.
So the renters get ten years. Do the building owners get ten years to pay their mortgage? Does the bank get ten years to pay interest on deposits? Do the depositors get ten years use out of that money before they get it?
As I said in another comment recently, the left half of the political spectrum always prefers to apply band-aids to a perceived problem, nearly universally without giving any consideration to what happens tomorrow as a result of the policy the implement today. They never want to address problems in any kind of serious way. They just placate the public in the hope that they'll get more votes.
Looks like California is taking this opportunity of the Pandemic to rewrite Constitutional law while they are at it. What a crazy world we're now living in
This is why I’m not buying property during this covid situation. It’ll be impossible to recoup monies. It will all turn all ghetto anyway as we engage in social engineering through HUD as soon as a dem wins - and they will, eventually. Of course, a few select elite democratic areas won’t be “affirmatively furthered” by HUD with the precise racial and socioeconomic transplants to make it suitable. Who can afford a house by Nancy Pelosi?
This is why I’m not buying property during this covid situation. It’ll be impossible to recoup monies. It will all turn all ghetto anyway as we engage in social engineering through HUD as soon as a dem wins - and they will, eventually. Of course, a few select elite democratic areas won’t be “affirmatively furthered” by HUD with the precise racial and socioeconomic transplants to make it suitable. Who can afford a house by Nancy Pelosi?
Probably shouldn’t buy rentals if you can’t read a news article.
CA is buying the debt (paying the landlords) and the tenants owe CA.
I am half Vietnamese. My grandfather was still a young man and son of a landlord (my great-granddaddy) in Northern Vietnam when communist took over the North under the leadership of Ho Chi Minh. The first thing the communist did was to eradicated (aka killed) all the landlords. Luckily, my grandfather and his family escaped unscratched to Southern Vietnam.
That's how it all started folks.
Yeah but in this country a lot of landlords have guns. You’re not lining people up and eradicating them.
Quote:
Originally Posted by Kevroqs
What if people decide to move and don't pay?
Would the landlord have to hunt them down?
Well it doesn’t work that way. You don’t just snap your fingers and it’s now legal. I know lawyers who are already starting the process for a lawsuit against these renter protection measures they just pulled out off heir butts. Emergency powers don’t give you unlimited do as you please power.
The state and the governor are already having to fight off lawsuits.
I am half Vietnamese. My grandfather was still a young man and son of a landlord (my great-granddaddy) in Northern Vietnam when communist took over the North under the leadership of Ho Chi Minh. The first thing the communist did was to eradicated (aka killed) all the landlords. Luckily, my grandfather and his family escaped unscratched to Southern Vietnam.
That's how it all started folks.
Yeah but in this country a lot of landlords have guns. You’re not lining people up and eradicating them.
Quote:
Originally Posted by Kevroqs
What if people decide to move and don't pay?
Would the landlord have to hunt them down?
Then you would have to go to court and get a judgement. But truthfully I don’t think a governor has such power to arbitrarily just change the law like that. It’s gonna go to court and get challenged. I don’t see this passing. They are already starting to get taken to court for all the shenanigans they are pulling. I don’t him they realize hes a giver or not a king. No matter how much he wants it to be a dictatorship. The panic has subsided and now......there are gonna start having to answer to those decisions.
Quote:
Originally Posted by southernnaturelover
From the quote in the OP, it sounds like the state will pay the landlords, and then the tenants will have to later pay back the state.
Well they are “paying” by giving a tax credit which you can sell (most likely at a decent loss) to recoup some of your money.
Quote:
Originally Posted by lilyflower3191981
The answer they give you will be:
Oh well,you should agree to defer their rent payments until the public health crisis is over. In theory, you would not be able to re-rent the units if they are forced to leave, so you would have no rental income anyway.
How do you know they won’t have income? You’re assuming someone else can’t move in and pay. And regardless of not having rental income you won’t have any wear tear repairs either. Which I’m sure you would STILL be liable to perform. As far as I’m concerned tax credits in 2024 don’t pay the mortgage on 2020.
This said,
if you are a landlord who depends on your income stream it would certainly put you in a difficult spot. Its not the tenant’s fault that this happened. However, landlords have to consider that trying to evict at this time may not work out to their advantage - other people may have the same circumstances.
It’s not the landlords fault either but he’s the one taking the big part of the risk.
If many landlords take a hard line and evict their tenants, the government may have to step in so that there are not thousands or millions of people put out with no place to go. Time will tell
You might as well start throwing laws out if you’re gonna pick and choose what laws you are gonna follow and what you aren’t.
.
Bold
Last edited by Electrician4you; 05-20-2020 at 08:41 AM..
Last edited by texan2yankee; 05-20-2020 at 09:21 AM..
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