10 Million Face Evictions And Foreclosures In 2021

Whatfinger News ^ | 8-1-2021 | kingtom

[kingtom]

Money and Investment business readers – check out Whatfinger Money. With more news and now video's as well from more sources than any other business news site

[kingtom]

As the national CDC eviction moratorium expires housing advocates are warning that the U.S. is about to see a massive flood of evictions and a devastating surge of homelessness, as the ban was the only barrier protecting millions of jobless tenants all across the country.

[UnwashedPeasant]

Good. Maybe this will burst the real estate bubble.

[Gene Eric]

If those 10 million had a voice of concern, it wasn’t shared by Big Media.

[rdcbn1]

People were getting enhanced welfare and three rounds of stimulus checks for about $40K per year

Many were making more money staying home than they did working

They had plenty of money yet they were not paying their rents because of the eviction moratorium

Something does not add up here

[JonPreston]

housing advocates are warning

Do you believe this? It's pure CNN material.

[Antihero101607]

𝘚𝘰𝘮𝘦𝘵𝘩𝘪𝘯𝘨 𝘥𝘰𝘦𝘴 𝘯𝘰𝘵 𝘢𝘥𝘥 𝘶𝘱 𝘩𝘦𝘳𝘦

I’ve been wondering the exact same thing. I work with a man whom I’ve frequently overheard talking about his wife having difficulty with the state of Michigan and collecting unemployment, because she was one of those people who wasn’t deemed essential or critical infrastructure. The other thing that doesn’t sit right is that last year I was frequently listening to Lars Larson’s Northwest Podcast, and he was frequently bringing up segments about people in Washington state having difficulty getting the unemployment benefits that they had legitimate claims to.

I know it’s anecdotal, but if you look at the number that could be facing eviction, about 10 million or so, then look at the U.S. population (approx. 331.45 million as of 2020); it’s entirely possible that a lot of people were stiffed on unemployment by the State governments, or federal government.

[joshua c]

that was my take

[Political Junkie Too]

As I posted earlier in this thread:

---

I don't know why the federal government didn't make the pandemic stimulus tied to particular expenses, like rent or mortgage.

Since cash is fungible, instead of giving people a lump sum to take the kids on a vacation, they should have set up a program where the money went to paying a landlord their rent so that burden didn't fall on the tenant to deduct housing costs from what cash they had coming in.

I suppose in the end it's no different than the homeless addict in a city like San Francisco: given the choice between giving them a gift card for meals at McDonalds and the cash, they always took the cash and then complained about going hungry.

Given the choice between having their rent/mortgage paid and getting the cash, these tenants prefer the cash and then complain about losing their housing.

---

-PJ

[steve8714]

Sure it does. There’s a shortage of cars due to “chip shortages”.

[Lonesome in Massachussets]

Article I, Section 10, Clause 3 of the Constitution provides that “No State shall . . . pass any . . . law impairing the obligation of contracts . . . “

The sanctity of contract is bedrock in American law. There should never have been a moratorium. Hell, there should never have been a lockdown. Many of the people getting checks were civil serpents who never missed a paycheck.

This is utter insanity and putrid vote buying. The government made this mess.

[Bernard]

10 Million Face Evictions And Foreclosures In 2021 As the government supposedly sits on the money" would complete the headline.

[moovova]

“Something does not add up here”

I’m guessing you’re thinking most people would do the right thing with that money. They won’t.

I’m guessing...these folks are hoping for a governmental “forgiveness” of that debt (think: college loan forgiveness).

[moovova]

Oo-oo, take the money and run.

[dynachrome]

“Something does not add up here”

If you are trying to destroy this country, it does.

[wbarmy]

Exactly, a huge number of people got their checks from the government, knew there was an eviction moratorium, and spent the money on their own lusts, to heck with the property owner. (The landlord is rich anyway and doesn’t need that money)

Now the evictions will happen and they will go to court to keep them from occurring, giving them a couple more months of free rent. When they finally are evicted, everything fungible will have been removed and the place trashed because the landlord is evil and not giving them what they, the renter, actually deserves.

[cymbeline]

“they should have set up a program where the money went to paying a landlord their rent”

I agree with that. Making renters eviction-proof was unfair to the landlords.

[LastDayz]

“Oo-oo, take the money and run.”

Billy Jack.... was a detective down in Texas.

You know he knows just exactly what the facts is.

One of my favs.

[Fido969]

The press wouldn’t allow that. They find a woman somewhere complaining that her “rich landlord” was getting money at while she couldn’t buy food and drugs, I mean clothes.

[oldasrocks]

“Pay the money to the landlords?” That would not achieve their goals of hurting the Middle Class and turning the renters into good democrats who want everything free.

[Orbiter]

Strikes me that fed.gov’s eviction moratorium resulted in imputed income for anyone who failed to pay their rent. Landlords left holding the bag should send out 1099s along with claiming their losses as a business expense. Let the IR$ sort it out.