Coming up next from the Democrats: Fort Apache, Fear City
Joe Biden, the press, the Democrats, and the activists have long touted the rent moratoriums in the age of COVID as just the thing, keeping their victims of lockdowns and lost jobs from being thrown out of their homes.
One problem: Someone is not getting paid.
The Washington Post has a long, balanced, authentic report on the assorted COVID-linked rent moratoriums and what that's done for the housing stock.
The subhead gets it right:
As landlords and tenants go broke across the U.S., the next crisis point of the pandemic approaches
So half the housing stock is owned by small landlords, and a third are about to go bankrupt or into foreclosure. That's one out of six rental properties, and don't think the other five aren't hurting, too. Did anyone give them stimulus checks to cover their losses? Apparently not. Yet they don't get a vacation from mortgages, insurance, or taxes, as the tenants do. They get no breaks at all and have to eat the losses brought to them by Democrats, who praise rent moratoriums to the high heavens, particularly Alexandria Ocasio-Cortez, whose family fled the Bronx. More about that in a minute.According to the Post in good writing summing up the extent of the problem:
In the covid economy of 2021, the federal government has created an ongoing grace period for renters until at least July, banning all evictions in an effort to hold back a historic housing crisis that is already underway. More than 8 million rental properties across the country are behind on payments by an average of $5,600, according to census data. Nearly half of those rental properties are owned not by banks or big corporations but instead by what the government classifies as "small landlords" — people who manage their own rentals and depend on them for basic income, and who are now trapped between tenants who can't pay and their own mounting bills for insurance, mortgages and property tax. According to government estimates, a third of small landlords are at risk of bankruptcy or foreclosure as the pandemic continues into its second year. [emphasis mine -mms]
Kind of sounds like Joe's words of encouragement triggering the border surge, doesn't it?But also, Joe Biden. Here's what he said during the campaign and how a deadbeat tenant who didn't bother to apply for federal rental assistance took it:
[The defaulting tenant] listened during the presidential campaign as Joe Biden said: "There should be rent forgiveness. ... Not paid later — forgiveness." And so when Hill finally received some small unemployment payments and a four-figure stimulus check from the government, he used the money to fix the engine in his broken-down minivan, buy a little extra food, purchase some basic furniture, pay down his credit card, and surprise his daughter with a decent laptop for her virtual classes, because why would he spend what little money he had on rent that he didn't actually have to pay?
Thanks, Joe. You've just blown out a sixth of the rental housing stock and that's just to start.
Full Article
https://www.americanthinker.com/blog/20 ... _city.html