Skip to comments.Former HUD Secretary: Congress 'should invest $100B in direct rental assistance'
Posted on 07/01/2020 6:22:33 PM PDT by yesthatjallen
Former Housing and Urban Development (HUD) Secretary Julián Castro said that Congress should pass direct rental assistance to avoid a housing crisis amid the coronavirus pandemic.
The CARES Act, signed in late March, included a moratorium on evictions for tenants in units with federally-backed mortgages or other assistance who were unable to pay rent, which only applies to about a fifth of renters. The rest are subject to local eviction moratoria, which have begun to expire.
Castro, who served under President Obama, told NBC News that Congress should allocate $100 billion in direct housing assistance.
We should invest $100 billion in direct rental assistance that the HEROES Act would include, as well as Emergency Solutions Grants, which address homelessness in local communities across the country, Castro said.
(Excerpt) Read more at thehill.com ...
Hes as much a communist as his Cuban namesake....
I do feel fortunate that my family has not suffered from either the virus or the shutdown in any way. I feel bad for people who have had a hard time.
Now, having said that, I will add that I’m not really happy that we keep giving stuff to people. Especially when I know I’m paying for all of the free stuff.
No Castro I don’t need the gubmint’s help.
We wouldn’t be in this mess if it weren’t for jOkeass, so, we should not listen to his sycophants.
“Former Housing and Urban Development (HUD) Secretary Julián Castro said that Congress should pass direct rental assistance to avoid a housing crisis amid the coronavirus pandemic.”
How about a high rise section 8 on your block Julio?
You know what types of property goes downhill the quickest? Rentals. The renter doesn’t have any incentive to keep the condition of a property in good shape, and knowing this, landlords dont have an incentive to do much more than the bare minimum to keep rent coming in and the place rentable when the current renter leaves. You know what could make that situation even worse? Give the renter a subsidy check so they could afford to either move to more upscale properties or have even less money invested in the good condition of the place. All this measure would accomplish would be a corporate slumlord slush fund
Just say no.
It’s easy if you try.
Going to work cuts down on your protest and riot time
..... There is about to be a MASSIVE foreclosure and short sale spree across the entire country .... Not to mention the big commercial real estate dump from the businesses that will be going out of business.
... Making a Long story Short ...... While it may be bad for previous Pre-Pandemic investors who will lose almost everything .... There is about to be a new generation of investors (Or even the Government) stepping up and emerging on the near horizon to purchase these properties. It should be interesting to watch this happen and which direction it will take.
....... We are living in interesting .... And Historical Times in this Nation.
How many here think a big wave of evictions, bankruptcies for landlords and homelessness this fall, all because the government refused to respond to a pandemic, is going to help reelect Trump?
Never let a good crisis go to waste! Milk it forever.
But who will those new investors be? People from China? Muslims from Saudi Arabia? The wealthy class from India? More of our country being bought up by foreigners most likely.
thats all well & good but it doesnt work
Spend our future generations into financial slavery.
Is what he and the progressives are demanding
Julián Castro’s mother, Rosie helped found a radical, anti-white, socialist Chicano party called La Raza Unida (literally The Race United) that sought to create a separate countryAztlanin the Southwest.
Welcome to the new normal.
Or any surviving rich American folks.
Yet the violence of the summer is going to get Trump re-elected. Law and order,remember?
You think there is going to be a big real estate dump? LOL
It’s not just small businesses that have gone bankrupt in an effort to kill granny in the nursing home, it’s small and large landlords and it’s big investors in office buildings.
The demand for office space has disappeared. And there is a “big real estate dump” on the horizon for residential, rental and office space. Hold onto your hat if you’re in malls or office space.
p.s. Real estate, like politics, is all local. If you are in New England, NY, NJ your market is in trouble. If you are in the Carolinas and want to sell a residential property, you will do a bit better. If you’re trying to do office space, good luck.
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