Posted on 12/14/2020 10:38:29 AM PST by SeekAndFind
The federal ban on evictions expires in January. For millions that's when huge problems start.
Prepare for a Wave of Evictions in January as Federal Ban Expires.
Millions of U.S. renters face the prospect of eviction in January unless federal officials extend protections put in place during the Covid-19 pandemic.
That month is when the Centers for Disease Control and Prevention’s ban on evictions is set to expire. The moratorium protects tenants who have missed monthly rent payments from being thrown out of their homes if they declare financial hardship. The CDC ordered the halt on evictions under the Public Health Service Act, which allows the federal government to enact regulations that help stop the spread of infectious diseases.
Between 2.4 million and 5 million American households are at risk of eviction in January alone, and millions more will be vulnerable in the months after, according to estimates from the investment bank and financial-advisory firm Stout Risius Ross.
Landlords have already filed more than 150,000 eviction petitions during the pandemic in the 27 cities tracked by Princeton University’s Eviction Lab. Many of those tenants have lost their cases, and are now on the hook for all their back rent.
‘I don’t see how it’s possible that we’re not going to see more evictions on Jan. 1 than we’ve ever seen in a month,’ said John Pollock, staff attorney at the Public Justice Center
There has been no discussion in any of the recent Covid packages for further moratoriums nor aid to landlords who have not been paid for months.
So unless there is specific aid sufficient aid in the bill to allow tenants to catch up, millions of evictions are on the way.
Looks like landlords are ray-ciss!
Looks like a trustworthy chart just showing facts and not trying to manipulate an agenda....
Could it be reparations will be in the form of blacks never paying rent again?
In my city, we have a VERY liberal WHITE city council womyn who, on a $70,000/year city salary, has not paid her rent since April in “support of her poor brithers and sisters...”
My heart will sing when her ass is evicted (and the property owner has already said he will when it’s legal)
What was the Covid deal on rent payments and suspension? OK, nobody could be evicted til January, but were payments to landlords suspended too in what circumstances and for how long?
The crap show is already here and bubbling just under the surface. The amount of folks calling their banks completely out of money AND credit is astounding. Many people have completely exhausted their extensions and deferments for debts and haven’t paid in months. Folks have no idea what is coming. Housing is about to get cheaper...
“Are we to postpone evictions forever while landlords lose their property?”
You know of course, Communists don’t allow private property? It’s a primary goal for them... right up there with control of education and the media
Clearing out the cities for their Chinese buyers to scoop up properties on the cheap
Why should landlords, who pay the taxes, have to continue to take a haircut? Jobs have rebounded. Evict the squatters!
Hardly. .gov does everything to keep prices high. Tax break this, write off this, etc. Local gov likes the higher property values. Having higher home prices helps keep the citizens from looking at other problems.
Seeing posts already in SW WA of people with lost jobs and January eviction looming, looking for habitation.
How are the courts going to handle all the evictions? It could take months to get court dates.
They just extended it in MA.
I will have to call my old banker friends to find out what the default rate is going to be.
If I was a renter, would I pay my rent? Or just live there until the eviction? Pocket the money, and wait until someone “demanded” it.
Of course I own my own home. Not having to deal with this crap is nice.
That is the problem, the government used the landlords money to help the tenants! Did the government wave the property taxes? Did the government tell the banks they could not foreclose do to non-payment of loans?
The Fifth Amendment to the U.S. Constitution mandates that private property cannot be taken for public use “without just compensation.”
As before, America will “solve” this problem with massive money-printing, massive debt, and massive government spending.
They can have Detroit for $1, with the stipulation they have to take its residents and politicians also.
And don’t forget the mortgages not being paid.
“Housing is about to get cheaper...”
Yes. The price of real-estate depends upon what can be collected for rent. If rental income goes down the value of the property goes down. This should reduce real-estate taxes but the cities will just adjust the mill rate. There will be increased defaults which increases real-estate supply and hurt banks bottom line.
Landlords are either owners or managers hired by the owners. The cost of the building continues regardless and has to be paid; if not, the lending institutions will foreclose on the entire building, turn off utilities and force out tenants anyway.
I have known many black people with good jobs, good income, and credit good enough to get a car loan who refuse to buy an affordable home. They pay off their landlord’s mortgage and bitch about paying rent.
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