Census Bureau: 3.8 million renters will likely be evicted in the next two months — why the rental crisis keeps getting worse (msn.com) This looks like the next socialist problem for Dictator Biden to resolve. I guess we'll soon see nationalized rent controls while flushing property owners down the toilet to allow those who cannot or will not pay to continue to live rent free. Dictator Biden can't allow 3.8 million tenants to be evicted this close to the midterm elections.
This is why both of my properties are/will be Airbnb's. This eliminates my having to deal with any of this.
Not that familiar with the rental market but if you are evicting people because they can't pay the rent are there a long line of people that make a lot more money than the evictee that can afford the new rent or will they be evicted too in 6 months?
There is no current easy fix other than for Dictator Biden to act independently and unilaterally again. Inflation must come down first which means the higher interest rates already announced that are coming and would then hopefully lead to more residential rental properties being built which should help lower rent prices. This has turned into a multi-year battle.
Capitalism did not create the moratorium on renters paying rents and landlords locked out of the eviction process. This problem is one created by socialism even if well intended early on. We've been in the endemic phase of the China Virus for well over a year, at least since the spring 2021, so why in hades was this program allowed to be dragged on to the end of August 2022?
That's not what I said. Higher interest leads to lower inflation which leads to higher building of residential rental units which lead to lower rent prices.
You're taking two houses off the market. That's a big part of the problem and the reason many municipalities are making short term rental of a non-primary residence illegal.
Here are some ideas. Open to others. 1. Work visas for construction workers to add to the labor pool. Labor shortages are stifling building 2. Rezoning and tax incentives to develop housing out of retail space openings that sit idle in American urban areas. 3. Subsidized rates for construction loans to minimize interest rate hike impacts. 4. Ease lending restrictions on condos.
Chairman Powell would like a word with you. Fed Chair Jerome Powell says 'some pain' is on the horizon. Here's what that means (msn.com)
