The long term impact of this is going to be a severe shortage in affordable rental properties as small and medium property owners decide that it isn’t worth the risk to rent their properties. The larger property owners will jack up rates to build a financial hedge against government intervention.
WASHINGTON (AP) — The Centers for Disease Control and Prevention issued a new eviction moratorium that would last until Oct. 3, as the Biden administration sought to quell intensifying criticism from progressives that it was allowing vulnerable renters to lose their homes during a pandemic.
The ban announced Tuesday could help keep millions in their homes as the coronavirus’ delta variant has spread and states have been slow to release federal rental aid. It would temporarily halt evictions in counties with “substantial and high levels” of virus transmissions and would cover areas where 90% of the U.S. population lives.
The announcement was a reversal for the Biden administration, which allowed an earlier moratorium to lapse over the weekend after saying a Supreme Court ruling prevented an extension. That ripped open a dramatic split between the White House and progressive Democrats who insisted the administration do more to prevent some 3.6 million Americans from losing their homes during the COVID-19 crisis.
Beyond the real impact, this is flatly immoral. We, the taxpayers, are already providing massive amounts of financial relief to people impacted by the pandemic. It is not unreasonable to expect that they will pay their rent with it. Why are the taxpayers and property owners bearing the burden for people who can, and should be working and paying their bills? If they can’t work, there are ample programs to help them. Either way, people need to pay their rent or move to somewhere they can afford.
Some have floated the idea that this is a handout to the Blackrock Boyzzz infesting the Administration; they will be able to pick up lots more multi- (and single-) family properties dirt-cheap when the foreclosures hit.
It IS an alpha-return proposition, after all.
When in doubt, always follow the money…
We can blame Brett Kavenaugh for this.
-When in doubt, always follow the money…
The question I have is just how much or how little of the already allocated federal financial relief money has been disbursed to renters and as a follow-on how much has been properly used to satisfy back rent payments to landlords? Cynical as I am I suspect the answers are not much and even less than not much.
Wisconsin Rental Assistance (Covid relief) is rather limited.
It allows only $3,000/person, only RENT (not mortgage) and only to those whose household income is at or under 80% of the county median income during the month or month-preceding application.
See: https://doa.wi.gov/Secretary/WRAP-infographic.pdf
So if you’re living in a 1-bedroom older-building apartment or upper flat in a dowdy area of Milwaukee, and your income fits the parameters, you’ll get–at most–between 2-3 months’ rent.
My question was similar to Merlin’s. Who are these people not paying the rent? If they had no job/money before Covid how did they pay rent before and if they lost their job from Covid odds are good that if they were only renting they were receiving more in unemployment money than they did when they had the job. Isn’t that why no one can get people to work at the lower paying jobs? Are there people who feel so entitled (not to mention morally bankrupt) that despite receiving extra unemployment money they still decided not to pay rent simply because Gov’t made laws saying they could?
Kinda makes you wonder how the Supreme Court feels about an Executive Branch that simply ignores Court decisions that they don’t like. Extending an administrative rule deemed by the Court to be illegal is pretty much two middle fingers right in front of their noses.
The White House is actually refusing to honor a Supreme Court decision. There isn’t even a remotely legitimate rationalization being offered here. It looks like Biden’s masters have concluded that court packing would be too difficult and have settled for a you’re-dead-to-us approach to all judicial irritations like all good little communists are wont to do.
This is all getting much uglier much faster than I thought it would.