Friday, January 08, 2021
NYC Landlord Being Evicted While Delinquent Tenants Live Rent-Free
I’ve been writing about the looming eviction crisis since early in the summer. This entirely predictable disaster has been obvious to anyone who has been paying attention ever since the pandemic broke out. A well-intentioned “eviction moratorium” effort by the government to prevent renters from finding themselves out on the streets after government shutdowns eliminated their jobs did little or nothing to prevent the damages sustained by landlords. It also never answered the question of what would be done about all the back rent that was going to come due when the moratoriums expired. These challenges are already taking their toll in New York City and, in one case, we’re seeing a twist on the usual depressing tales. One landlord and owner of a modest apartment building in the Inwood neighborhood of the Big Apple is now facing eviction himself. The reason is that some of his tenants are simply refusing to pay their rent even if they kept their jobs or other sources of income through the pandemic.
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We have this going on, along with millions on the brink of homelessness. How much of the two stimulus measures passed this year went to foreign entities?
ReplyDeleteBuddha
This isn't just about landlords and renters. It's also about the entire banking system. When people aren't allowed to work or run a business, it puts the entire country's banking system at risk. Without work, people can't pay mortgages on homes or businesses. That can't go on indefinitely without banks failing, no mater how much the Federal Reserve prints. There isn't enough credit in the universe to sustain this situation. Just look at what's happened to the $ exchange rate in the last 11 months. That value decline is all about the trillions that the fed has printed. You want an example? Go to the grocery store. I'm a single person. A year ago, a week's worth of groceries cost me about $60.00. Today, I bought the same things I always buy. I spent $85.00 today and I didn't buy much meat protein cause I'm trying to empty my freezer.
ReplyDeleteThat's not even the half of it. Wait until Biden stops most of the coal, oil and nat. gas production. Gasoline will go from ~$2.25 to $5.00 and more in a heart beat. Don't forget that transportation cost is a major part of grocery store prices. So, that one act from the new Biden administration, will ripple through the economy like a stone tossed in a pond, to devastating effect.
These kinds of effects are what the dim bulb voters, that vote for people like Biden and his ilk, don't get until it bites them in the ass and even then, THEY JUST DON'T GET IT.
Nemo
Inform the deadbeats the building is going up in flames in ten minutes, torch it, and build a soyboy homo biobazaar. And then secretly poison them. Muahahahaha.
ReplyDeleteThe 1% have racked in billions this year , mom and pop shops are closing by the dozen every hour . The middle is denied the vote and redress to clearly unconstitutional issues. the bottom has been grandfathered in and cant be removed . If you think it all is just an unfortunate co-inky-dink then you have been watching too much tv. We have just lost the remaining shreds of a once great republic to the uncivil and immoral that at one time were not allowed to hold office , now we know why.
ReplyDeleteNYC ???
ReplyDeleteWho really gives a $hit......