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2 Million Households Now Owe $15 Billion in Back Rent

Moonglow

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Yeah, there are vaccines out there, and jobs. And schools are opening up down here next week. And people will find new places to rent even if they don't pay back rent.

One thing that doesn't appear to be discussed in this story and the rising housing prices is that we actually had a housing SHORTAGE before covid. And lumber prices went wayyy up before coming back down.
Yes indeed. I have always bought homes and land because I don't want a landlord or any lord telling me what to do or having control over my personal life. But I have lived through hard economic times while having kids and being self employed, a time when there was no excuses for not paying for the abode in which you gestate a life, so I have no idea why one would need a break from paying. I paid my mortgage all through the pandemic because I find it a priority. I also work when I can because I am addicted to money more than the pain it causes.
There was a time when I though 39k was too much for a house..
 
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bendog

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Yes indeed. I have always bought homes and land because I don't want a landlord or any lord telling me what to do or having control over my personal life. But I have lived through hard economic times while raining kids and being self employed, a time when there was no excuses for not paying for the abode in which you gestate a life so I have no idea why one would need a break from paying. I paid my mortgage all through the pandemic because I find it a priority. I also work when I can because I am addicted to money more than the pain it causes.
There was a time when I though 39k was too much for a house..
Yeah. And I don't have any problem with people not paying back rent. When Katrina hit New Orleans, it was a disaster for working poor who'd been told they should "buy" and then they were wiped out. Those poor people who "caused" the subprime meltdown (sarcasm). People rent for lots of reasons, but often they don't have enough and steady income to buy. It's no secret that service industry folks lost jobs more quickly than people like me, who can work at night and anywhere.

The feds appropraiated 50billion for landlords, but some states aren't disbursing it. But I'm not sure that's a bad thing. Most landlords can refi and fold in costs of taxes and repairs.
 

bendog

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I apologize for my posts that seemed to be saying one group got a better aid deal than another. I should not have done that. There was unequal treatment in both housing and econ aid, and job losses were hardly equal. But everyone was affected and some pols honestly tried to meet needs.
 

Care4all

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All of that is meaningless. Old Joe has the power to continue it, as does old Nancy. I hope you aren’t suggesting their hands are tied, because that’s BS.
Nancy can't do it alone. Just like Mitch could not do it alone.

Biden with executive order may be able to in a legal way with an executive order, that does not conflict with the supreme court ruling....that I don't know?

What I do know, is the State legislatures can stop this Aug first evictions through their own legislation, as more than half of the States have ALREADY done for their own states....as example, New York no eviction mandates end at the end of August, Washington States ends their eviction moratorium on December 31, 2021 etc etc....

The States do not need Joe to do it.....

The problem is not getting the money allotted in relief bail out for renters and landlords, IN TO THEIR HANDS....

And it not being reported that way is simply news outlets trying to MAKE/CREATE NEWS and a crisis, joined with political posturing and politicos purpose.

The money is there, to KEEP EVICTIONS from happening.... But the renters need help in showing them how to get it.
 

Moonglow

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Yeah. And I don't have any problem with people not paying back rent. When Katrina hit New Orleans, it was a disaster for working poor who'd been told they should "buy" and then they were wiped out. Those poor people who "caused" the subprime meltdown (sarcasm). People rent for lots of reasons, but often they don't have enough and steady income to buy. It's no secret that service industry folks lost jobs more quickly than people like me, who can work at night and anywhere.

The feds appropraiated 50billion for landlords, but some states aren't disbursing it. But I'm not sure that's a bad thing. Most landlords can refi and fold in costs of taxes and repairs.
Most people I know that have properties to rent are millionaires and soaked the system for PPP loans..
 

Ray From Cleveland

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Yeah, there are vaccines out there, and jobs. And schools are opening up down here next week. And people will find new places to rent even if they don't pay back rent.

The eviction suspension didn't relieve the tenant from paying their bills. A landlord can still sue them for back rent, legal fees, interest, damages and so on. They are still responsible for those costs even with covid.

As long as they have a job, their paycheck will have a garnishment for as long as it takes to repay the settlement of the lawsuit.
 

gipper

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The eviction suspension didn't relieve the tenant from paying their bills. A landlord can still sue them for back rent, legal fees, interest, damages and so on. They are still responsible for those costs even with covid.

As long as they have a job, their paycheck will have a garnishment for as long as it takes to repay the settlement of the lawsuit.
Isn’t that something? Capitalism for the poor, but socialism for the rich. We’re so lucky to live in the greatest nation on God’s green earth.
 

gipper

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Nancy can't do it alone. Just like Mitch could not do it alone.

Biden with executive order may be able to in a legal way with an executive order, that does not conflict with the supreme court ruling....that I don't know?

What I do know, is the State legislatures can stop this Aug first evictions through their own legislation, as more than half of the States have ALREADY done for their own states....as example, New York no eviction mandates end at the end of August, Washington States ends their eviction moratorium on December 31, 2021 etc etc....

The States do not need Joe to do it.....

The problem is not getting the money allotted in relief bail out for renters and landlords, IN TO THEIR HANDS....

And it not being reported that way is simply news outlets trying to MAKE/CREATE NEWS and a crisis, joined with political posturing and politicos purpose.

The money is there, to KEEP EVICTIONS from happening.... But the renters need help in showing them how to get it.
You’re giving the Ds and excuse. They have total control of Congress and the executive branch. This was a failure on their part and it was intentional.
 

Care4all

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You’re giving the Ds and excuse. They have total control of Congress and the executive branch. This was a failure on their part and it was intentional.
Totally disagree with you on this.... we are a REPUBLIC, the States can do this, as many have already.

Dems are just trying to get more bailout money.... When the States have only distributed $3 billion of the $47 billion given already by federal renters relief ... imo.
 

Papageorgio

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I believe we have 37 or so Republican State Governors, and 13 Democratic Governors responsible for distributing the funds...

The federal govt, weighed down in bureaucracy passed the money on to the States, so they could be responsible for getting the money in to the hands of their citizens....this was suppose to cut lag times created by federal bureaucracy....

Looks like the State governments, closer to the final recipient, are no better than the federal govt.
The real number is 27 Republican governors and 23 Democratic governors. Why is there a need to stretch the truth?

 

Ray From Cleveland

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No. The real solution is eliminate the numerous tax rules that benefit the wealthy and tax the shit out of them.

Then eliminate the war and intelligent budgets in their entirety and direct that enormous amount of money to help the poor and working class.

Then eliminate private funding of political campaigns, with long mandatory prison terms for those who try to influence politicians with money. Then eliminate the two party structural impediments to third parties.

These are real solutions that will never be implemented by our right wing fascist imperialist corporatist government.

You're never going to change the tax code. It's twice as thick as the Holy Bible. Yes, they've talked about it for years, but eliminating those tax breaks would also have an impact on American consumers. Since the topic is rental units, I have hundreds of deductions every year. Without them, I would have to increase my rental prices by at least 20%. So me and my tenants need to those deductions to make the system work.


The top 20% of wage earners in this country pay 87% of all collected income taxes. The bottom 47% pay zero. So besides the massive spending problem we have, we also have a lot of people with no dog in the race. I think that needs to stop. We all live here, we all use these government programs, we should all pay for them, and the only way to do that without a hundred pages of red tape is a consumption tax.
 

Ray From Cleveland

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That’s what many thought before the Great Recession. They were wrong as are you. Real estate is in a bubble and it will burst.

Apples and oranges because the housing bubble in the early 2000's was manufactured--not happen naturally. There have always been home owners and there have always been landlords. The only change is there is a shift of interest in rental properties and a decline in interest of home ownership so it's not a bubble at all.
 

Ray From Cleveland

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Totally disagree with you on this.... we are a REPUBLIC, the States can do this, as many have already.

Dems are just trying to get more bailout money.... When the States have only distributed $3 billion of the $47 billion given already by federal renters relief ... imo.

I read your CNN article, and it highlights the Democrat states that are the biggest offenders in not getting relief money out.
 

Ray From Cleveland

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Isn’t that something? Capitalism for the poor, but socialism for the rich. We’re so lucky to live in the greatest nation on God’s green earth.

Why so butt hurt, because people will be forced to pay the bills they owe? I guess we landlords should just shrug our shoulders and say "Oh well, I lost eight or ten thousand on that deal, I'll just have to get two full-time jobs instead of having one!"
 

Care4all

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The real number is 27 Republican governors and 23 Democratic governors. Why is there a need to stretch the truth?

My mistake!

I forgot about the Dems kicking the Repubs butts in the 2018 midterm elections...the USA had well over 30 republican governors before the Blue Wave...
 

bendog

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The eviction suspension didn't relieve the tenant from paying their bills. A landlord can still sue them for back rent, legal fees, interest, damages and so on. They are still responsible for those costs even with covid.

As long as they have a job, their paycheck will have a garnishment for as long as it takes to repay the settlement of the lawsuit.
Let's not hold our breathes.
 

Care4all

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The bottom 47% pay zero. So besides the massive spending problem we have, we also have a lot of people with no dog in the race. I think that needs to stop.
They pay zero, because they don't earn enough taxable income to owe any. The wealthiest don't pay any taxes on the amounts the 47% don't pay any taxes on either...its an exempt amount, for the most part.

Have better paying jobs for the 47% then they'd have taxable income to owe taxes on.....You can't get blood out of a turnip!

The billionaires paying zero, should be more concerning to you.... Imho.
 

gipper

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You're never going to change the tax code. It's twice as thick as the Holy Bible. Yes, they've talked about it for years, but eliminating those tax breaks would also have an impact on American consumers. Since the topic is rental units, I have hundreds of deductions every year. Without them, I would have to increase my rental prices by at least 20%. So me and my tenants need to those deductions to make the system work.


The top 20% of wage earners in this country pay 87% of all collected income taxes. The bottom 47% pay zero. So besides the massive spending problem we have, we also have a lot of people with no dog in the race. I think that needs to stop. We all live here, we all use these government programs, we should all pay for them, and the only way to do that without a hundred pages of red tape is a consumption tax.
And yet we have a system where billionaires pay little to no income tax. Clearly a corrupt system purposely designed to benefit the ultra wealthy.
 

gipper

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Why so butt hurt, because people will be forced to pay the bills they owe? I guess we landlords should just shrug our shoulders and say "Oh well, I lost eight or ten thousand on that deal, I'll just have to get two full-time jobs instead of having one!"
Yeah it’s butt hurt when the government bails out the rich and does little for the poor. Are you familiar with the term injustice?
 

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