Rent has barely trickled in across the U.S. over the last couple months as the country continues to grapple with a decimated economy as a result of the coronavirus pandemic. The only reason that many landlords have not gone belly-up alongside of their respective tenants has been due to the emergency "relief" provided by the government in the form of relentlessly printing, handing out and destroying the U.S. dollar.
Now, with further emergency funding still up in the air and eviction moratoriums about to expire, an ugly picture is starting to emerge for both renters and their landlords. In fact, Bloomberg predicts that the "worst is yet to come".
33% of renters didn't make their full payment in the first week of July, a recent survey showed. This means that 12 million renters could face eviction over the next four months. In places like New York and Houston, more than 20% of renters say they have "no confidence" in their ability to pay rent next month.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
5 comments:
The "Squad" has said that no one should pay their rent. It is an act of defiance to the white privlaged property owners.
I only sell property now.I told my friends to do the same,but they argued with me vehmently.Now it's buy and sell only.
Imagine the dollar loss potential in Salisbury, where over 70% of housing is rental, and where it's unclear whether college students will return or stay home for distance learning.
If they can't pay now what are they going to do when restrictions are lifted and they are still responsible for all the back rent? Don't think your bills are going to go away.
Thing is why pay? It is hard enough to collect rent now. And I won't even go into how much damage is done by renters. It's awful. If they make it you can't be evicted, no one will pay. Why would you? It is proven over and over, people will live up to th standard you set. When Covid crap is lifted, they will leave. Leave the place trashed and just rent a new place. Come on, if you were told you don't have to pay your mortgage would you? This is crazy. We gave $4000 at least a month in pay. Some people I know got it x's 2. That's $8,000 for two people. At least. And you can pay your rent? I'm so sick of hand outs. And excuses. If I can pay my bills on reduced income, you can pay it too.
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