Extended rent moratoriums and the slow distribution of billions in federal rent assistance are driving many small landlords to call it quits.
“Nobody wants to become a landlord anymore,” said Diane Baird, executive director of the Lake Erie Landlord Association, which represents landlords in northern Ohio, southern Michigan, and western Pennsylvania.
It all fits together in the bigger picture. Same reason mom-n-pop stores had to close, but wallyworld and mega-marts across the country were ok. Big mega corporations make donations to politicians and political parties. Mom-n-pop retailers, renters, and other such small businesses don't. Congratulations, you just had the squeeze put on you by the competition. Now they'll buy your rental units for a fraction of their future earnings. Lobbying pays better than crime, and its not even illegal!!
Just what the country needs. Banks and/or investment companies becoming landlords all across the USA dumping families and other people onto the streets, adding to the homeless chaos. Meanwhile, illegal aliens will have their rent paid by the taxpayers.
As the Commies rub their hands and mutter "Ah thanks to Marx it looks like the use the economy to collapse the evil Capitalist empire plans are coming together".
The effect, if not the goal, of most government intervention is to drive the little guy out of business and make the big guy stronger. Cross reference estate taxes driving family farms to sell out to mega corporate farms. It is mind-numbing that the left is seen as the champion of the little guy.
Wrong, Blackrock working the system to create a renter society buying up thousands of homes for the future when they perfected the system after 2008 with hundreds of homes.
I suspect that once the small investors are bankrupted out of their rental properties that Fed "relief" payments will be authorized for all unpaid rents, but to be paid to the then current owners, Blackrock, et alli. Then Blackrock will spin off the properties in an IPO, and take that money and run, as property prices collapse. John in Indy
It all fits together in the bigger picture. Same reason mom-n-pop stores had to close, but wallyworld and mega-marts across the country were ok.
ReplyDeleteBig mega corporations make donations to politicians and political parties. Mom-n-pop retailers, renters, and other such small businesses don't.
Congratulations, you just had the squeeze put on you by the competition. Now they'll buy your rental units for a fraction of their future earnings.
Lobbying pays better than crime, and its not even illegal!!
>Now they'll buy your rental units for a fraction of their future earnings.
DeleteAnd not only that, they're buying with fake money created out of nothing (even more than usual I mean) that you as the taxpayer are liable for.
But just remember, the banksters are the real victims in all of this.
Just what the country needs. Banks and/or investment companies becoming landlords all across the USA dumping families and other people onto the streets, adding to the homeless chaos. Meanwhile, illegal aliens will have their rent paid by the taxpayers.
ReplyDeleteNemo
Don't worry though, there is plenty of housing available for the 200,000 illegals arriving here each month, which adds up to 2.4 million per year.
ReplyDeleteNo more "Make Your Fortune In Real Estate" infomercials?
ReplyDeleteThere's a silver lining...
But you can still do it by placing small classified ads!
Delete- Zombie Don Lapre
As the Commies rub their hands and mutter "Ah thanks to Marx it looks like the use the economy to collapse the evil Capitalist empire plans are coming together".
ReplyDeleteAs long as they don't come after cannibalism.
ReplyDeleteThey didn't in Leningrad.
DeleteThe effect, if not the goal, of most government intervention is to drive the little guy out of business and make the big guy stronger. Cross reference estate taxes driving family farms to sell out to mega corporate farms. It is mind-numbing that the left is seen as the champion of the little guy.
ReplyDeleteYep! Know who the biggest recent buyer of farmland is? Yep again! It's Bill Gates.
DeleteAll for the benefit of a satan's tribe member .... blackrock.
ReplyDelete“Nobody wants to become a landlord anymore,” .
ReplyDeleteWrong, Blackrock working the system to create a renter society buying up thousands of homes for the future when they perfected the system after 2008 with hundreds of homes.
"You'll own nothing, and be happy ..." .
ReplyDeleteI suspect that once the small investors are bankrupted out of their rental properties that Fed "relief" payments will be authorized for all unpaid rents, but to be paid to the then current owners, Blackrock, et alli.
ReplyDeleteThen Blackrock will spin off the properties in an IPO, and take that money and run, as property prices collapse.
John in Indy