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Drudge Retort: The Other Side of the News
Saturday, May 08, 2021

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.

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Not to be crass, but I honestly don't see the problem. Is there noone willing to buy these properties? Around here there are buyers lined up, many if not most of them with $1M+ in cash, looking to buy houses.

"While home prices never declined, they were flat this time last year, which is one of the reasons we're seeing home prices register such large gains compared to that time. A similar story plays out for new listings. In sum, the housing market remains competitive and while the new listings trend is an optimistic sign for hopeful buyers, they still face a challenging market."

"as Hale writes, housing supply has dropped an incredible 53 percent compared to what it was last year."

www.forbes.com

#1 | Posted by snoofy at 2021-05-09 05:53 PM | Reply

On the current trajectory there's obviously a problem with housing simply becoming more and more unaffordable for most households, while the rich get richer by becoming landlords. It's just yet another way wealth has transferred and redistributed upwards over the past five decades.

But if you're a small landlord, that isn't your particular concern.

#2 | Posted by snoofy at 2021-05-09 05:57 PM | Reply | Newsworthy 2

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