Subscribe Form

Thanks for submitting!

 
Search

The 'can' has been kicked to the point of no return

A year later, in 2 days, the can will either need to be kicked again or it will hit eviction courts like an avalanche.


This is from August 2020:


https://www.aspeninstitute.org/blog-posts/the-covid-19-eviction-crisis-an-estimated-30-40-million-people-in-america-are-at-risk/


"According to the latest analysis of weekly US Census data, as federal, state, and local protections and resources expire and in the absence of robust and swift intervention, an estimated 30–40 million people in America could be at risk of eviction in the next several months. Many property owners, who lack the credit or financial ability to cover rental payment arrears, will struggle to pay their mortgages and property taxes and maintain properties. The COVID-19 housing crisis has sharply increased the risk of foreclosure and bankruptcy, especially among small property owners; long-term harm to renter families and individuals; disruption of the affordable housing market; and destabilization of communities across the United States."





What will our 'government' do? Well it has done nothing over the last year, my money is on nothing, again. They are too busy playing political theatre to demonize the other political party, too busy avoiding addressing real issues like the southern border, too busy actually run the country.


What I think will happen.


- Well its going to be overwhelming to courts, eviction notices will be handed out on mass, this will overwhelm the courts. (I think they know this is coming and the rubber stamps are ready).

- In Tennessee summons have to be served 6 days before the hearing. The renter can request up to 15 days in postponement so we are looking at the first of September.



- I don't see a tenant winning a case where there has been no rent paid especially with the increased unemployment benefits and government programs that have been available


- 10 days after the decision the writ of possession will be issued



- Tenant seeks new housing or is forcibly removed.


The repercussions:


- Rental agreements often ask, "have you been subject to eviction." Blot on rental record making some people un desirable renters.

- Landlords will be looking to dump properties where large companies like BlackRock, who get 0% interest loans buy up large sections of rental areas and rent increases

- Landlords raise rent to cover depleted savings due to non rent payment

- Millions are homeless


All of this and median income buying power levels have declined by 2%, Biden inflation has taken buying power from the middle class.


4 views0 comments

Recent Posts

See All