The flip side of Trump’s eviction ban: Landlords face big crunch – Landlords are dealing with a dramatic drop in income, facing the prospect of either trying to sell their property or going into debt.

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This is just government backed looting. The mom and pop landlords are getting crushed and people keep telling them to get forbearance or loans from the bank. Where is the bank bailout to give all these mortgages forbearance and loans? Nowhere. All that’s going to happen is the middle class landlords will foreclose and the big guys will buy them all up with government backed loans. It’s class warfare on the middle class. First all the “non-essential” business got run out of town and now the middle class landlord. Think rent is high now? Wait till it’s just the big conglomerates setting the rent. You’re about to spend a lot more for a lot less. It’s craziness

johnny5isalive35

Imo the American response to the crisis has been some of the least worker-friendly in the whole world, and markedly unsustainable. Once the eviction moratorium is over, a huge amount of renters will be swiftly evicted anyway and will also now owe huge sums of money. Almost every other well developed country is using a furlough scheme instead to pay workers that had their jobs shut directly due to COVID. Which imo makes perfect sense that the government should pay workers who have lost their jobs, considering it was a direct result of the governments actions that made them lose their job in the first place. This would also solve the issue of renters not being able to pay, and the issue of landlords not getting their rent. Current solution is just a bandaid and does nothing to address the problem.

snow_rogan

It’s probably going to be quite difficult for people to have much sympathy for the majority of landlords during an economic downturn.

pastyjock

The long term effect of this will be higher rents and lower home prices. This eviction ban shifts the burden from tenants to landlords only in the short term. My n=1 experience is a friend who backed out of buying house, because she planned to rent her current home, but was afraid she would get saddled with a non paying tenant.

Client_Hello

Hmm, me thinks this will make wealth inequality even greater, since the owners with few properties will have to give up what the big conglomerates dont.

pmtiggobitties