How the eviction crisis across the U.S. will look
The impending eviction crisis will hurt some states more than others. African-American and Hispanic tenants are especially at risk of losing their homes.
www.cnbc.com
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CNBC: How the eviction crisis across the U.S. will look
- Thread starter GK86
- Start date
www.cnbc.com
Remember that landlords do background checks. These renters, if evicted, won't be able to rent again from most people. We're going to have a nation of blacklisted renters and empty dwellings. It's going to wreak havoc on the market. Landlords that don't want to rent to people with evictions and can't find someone who isn't blacklisted to rent to.
The landlords are basically eating their own tails throwing these people out.
The landlords are basically eating their own tails throwing these people out.
I'm 3 weeks behind on one payment and my mortgage company is sending me threatening default on your loan letters.
And oftentimes landlords will sell off your debt to collections agencies to recoup some money and that debt can end up on your permanent credit and make it much, much harder to get a home loan.
So Republicans are literally helping create a permanent underclass during a fucking pandemic.
...And as the party of big business and capitalists, I dont even know what this position is supposed to achieve? I guess squeeze smaller landlords so large multinational real estate companies can buy up property on the cheap? And i guess we never really did anything about the systemic risk of our biggest banks so they don't really have anything to fear on defaults, since they'll just have to bail them out then blame Biden. Suddenly it does make some sense.
It is insane. I've definitely seen many reports even before this crisis how 50+% of all Americans are living paycheck to paycheck. So now that they've lost their jobs and the government is pulling out all support we're about to see the harsh consequences of that reality in full light unless a full extension on these benefits happens. Also at this rate I'm sure landlords are being slaughtered by the crisis as well, so aid is probably necessary for the small, personal landlords (fuck the huge conglomerate renting companies, although I'm sure they'll be the ones cashing in big on this disaster when it happens).
What a miserable fucking failure of our government to avert a monumental crisis for millions of people. Jesus fuck the Republicans are straight up villainous.
What numbers am I looking at in that tweet? Are those the percentages that are rentals in each state?
I'm so thankful my house is paid off. I've been thinking about moving, but I can easily get twice as much for this house as it would cost me to buy a new one where I'm thinking of moving.
I'm so thankful my house is paid off. I've been thinking about moving, but I can easily get twice as much for this house as it would cost me to buy a new one where I'm thinking of moving.
"Rental households unable to pay rent and at risk of eviction as a share of total rental households"
So, you're telling me their cumming in their collective pants right now?
I'm straight-up worried about November, since that's when our lease is supposed to be renewed. I live with 7 peeps and we're already kinda struggling with the rent hikes that have been happening here. If they try to raise the rent more, things are gonna get dicey. (Thankfully I have some savings but I definitely didn't want to spend it so soon)
User Banned (1 Week): Insensitive and Inflammatory Commentary
I am a vulture with cash parked and waiting for a few foreclosures.
Doesn't Hannity own a lot of real estate? The slimy fuck is probably licking his chops.
In the context of a public health crisis and pandemic, you do need to give special affordance to renters so they don't feel stressed to go to work if they are sick. Then they spread their illness to other workers, who in turn bring it home to the people living with them and can't reasonably self-isolate.
I do think that landlords provide an essential service in taking on risk and maintenance to provide housing and the market normally works fine. My issue is that in the context of a pandemic you do have to think a bit different so you don't indrectly encourage behaviors that make the public health situation worse.
I do think that landlords provide an essential service in taking on risk and maintenance to provide housing and the market normally works fine. My issue is that in the context of a pandemic you do have to think a bit different so you don't indrectly encourage behaviors that make the public health situation worse.
Fully expect the rich to make a killing yet again of people's suffering which is why nothing is going to stop the train from going of the tracks with the current make up of govt.
Awful and terrifying. I don't have words to express how disappointed I am in the state of this country.
I mean, if they can afford to do that, great! Let people use the money they are given on whatever they want to spend it on.
How are landlords going to pay for their property taxes and fees if they have no tenants paying rent?
How are mortgage companies going to make money if they foreclose and wind up paying upkeep on an empty house?
It's not like people are lining up to buy homes and rent apartments right now.
Even with record low interest rates, nobody wants to risk down payments or sign leases they might have to bail out on right now.
How are mortgage companies going to make money if they foreclose and wind up paying upkeep on an empty house?
It's not like people are lining up to buy homes and rent apartments right now.
Even with record low interest rates, nobody wants to risk down payments or sign leases they might have to bail out on right now.
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That's why this eviction apocalypse is unlikely to actually happen. It will screw over big money very bad along with the working poor in this country.
Depends on the hood. If you own in a child friendly suburb around schools, unlikely.
If you bought in a city for the amenities... Probably.
If you bought in a blue collar hood with high portion of renters... Probably.
If landlords and banks were a colluding guild you are correct. However in a individual decision that thought is different.
I was homeless with my son at 17. Hate the game, but if I don't do it the next person will.
And frankly speaking I don't find buying distressed homes as immoral. Not my fault this country is filled with NIMBYs making homes a investment asset rather than a expense.
Have you seen the Bay Area? I was surprised, but people with money always find a way... Sounds like the shift, despite many people not affording housing, is people with money don't want to live in cities anymore and are looking for single-family homes in the surrounding area. Title for this is a little misleading, but yeah this is just mostly people just moving into single-families, since they seem to be selling very quickly here, still.
Bay Area home sales plummet during coronavirus, but prices rise
Bay Area home sales plummeted in May, falling by more than one-third in most counties and by nearly half in San Francisco as COVID-19 fears chilled sellers and buyers.
www.mercurynews.com
Have you seen the Bay Area? I was surprised, but people with money always find a way... Sounds like the shift, despite many people not affording housing, is people with money don't want to live in cities anymore and are looking for single-family homes in the surrounding area. Title for this is a little misleading, but yeah this is just mostly people just moving into single-families, since they seem to be selling very quickly here, still.
Bay Area home sales plummet during coronavirus, but prices rise
Bay Area home sales plummeted in May, falling by more than one-third in most counties and by nearly half in San Francisco as COVID-19 fears chilled sellers and buyers.
I'm on the East Coast. Here everyone fears property tax hikes running people out of their homes more than losing their jobs, even temporarily.
The combination of the two things is pretty horrifying. Especially when schools are constantly hiking up taxes and make up the largest portion of them, while now asking people to stay home with their kids for remote learning.
It's a very unbalanced equation to say the least.
I'm sure some landlords will try to get evictions in before Congress passes another halt to evictions.
No kidding. I just got a property tax hike this month ("whoopsie! We undervalued your place!!") that I need to pay and it SUCKS. These little financially 'surprises' always show up at the worst time :/
I mean, it's a stimulus check. That's what they're supposed to be using it for.
I don't begrudge anyone for how they use the money. Personally, my wife and I sent our $2400 to our folks in Puerto Rico.
A one-time $1200 payment is very bad for things like rent, and very good for things like PS5's. Like, that'll cover one month of rent for me, or a PS5 and, like, ten games.
Money scales weirdly. $1200 is a lot of money when you can spend it on toys, and very little when you need to spend it on housing. If it were an ongoing monthly payment it could help keep people in need afloat, but as is it's basically designed so that comfortable people can go buy things they want but don't need.
Depends on the area. There are places with very low inventory and high demand for real estate. In places like Vancouver, landlords who want to get out of the rental game and sell are getting multiple offers.