What the government should do is pay off all mortgages. That would be a lasting stimulus that would continue far into the future.
Will the federal government also prevent banks from foreclosing on the landlords because they need the rent money to service the mortgage debt?
Plank #1 of the Communist Manifesto: Abolition of private property rights.
“Where does the Federal government get the authority to do this?”
I guess from the same place they can close all businesses and make people wear masks.
I believe the Federal moratorium only applies to properties with mortgages that are underwritten or guaranteed by the Federal government.
Regarding evictions, is there a mechanism to do a financial statement with regard to the tenant’s ability to pay said rent? Or can a current tenant merely decide to stop paying rent being he can’t be evicted now?
Our property isn’t ours anymore. Our business isn’t ours anymore. Our jobs aren’t ours anymore. All over a virus that is as close to harmless as a “pandemic” can get.
One way or another there’s gonna be hell to pay for this...
No problem, also tell the banks they can’t foreclose on rental properties, nor can the tax collector seize the property for unpaid taxes.
See how far that gets you...
The rent is always due. Evictions will occur and when they do, homelessness will increase by vast amounts. Sad but true...
The people who recommended shutting down the economy to fight this virus will be hunted down and strung up in the near future when the very real and serious depression hits.
This is an election gimmick, but why should landlords suffer?
> the federal government will extend a moratorium on evictions <
Why not also have a moratorium on paying for gasoline and groceries? If you’re going to abuse your authority, might as well go all out.
Side note to Mr. Kudlow: I really don’t like paying my property taxes. How’s about a property tax holiday?
You can be my senator
The place I rent has 36 units.The owners tried selling last year for $6.1 million but no takers. Now they cannot sell as any buyer does not know if they will get paid any rent.
I know of a few who took the $600 a week and saved it up and moved elsewhere to hopefully a better job and cheaper location.
I still work and pay the rent..... at least my stock AMD is going up so I am good. I would hate to be unemployed at my age with no savings and reading about the democrats making 10’s of millions and more from insider trading and outright stealing.
Where’s that “The Rent Is Too Damn High” guy when you need him?
Many people will not pay rent if they know they cannot be evicted.
Over the past week, I’ve seen customer traffic decrease by about two-thirds in states that haven’t closed businesses. Blue state or not, business is very slow.
That means that there are few jobs available and many people out of work. The money from renters out of work just isn’t there. I know of several multi-unit rentals with only very few of those units occupied now. So with or without a moratorium on rent, some landlords will have a hard time.
What is important, is that President Trump will be reelected in November. Otherwise, with the new, harder socialist brand of Democrats having a puppet in the Executive office, landlords will certainly lose their properties, permanently. They won’t be purchasing more properties, either.
The reelection of President Trump isn’t only the greatest priority. It’s the only thing that matters until the election. Any faction that complains too much against the Trump Administration will go right under our bandwagon.
One more thing... Anyone who owns a business should know the economic wisdoms of our forefathers, savings for difficult times being number one. A business plan with good contingencies is another.
Nothing is really free. We need to break the chains of foreign mercantilism and domestic traitors. We need many more factories. We need more Americans producing truly useful things—not a class of people receiving incomes for sitting on their heinies.
Unless the government is planning on providing rent assistance then they’re dumping an unfunded government mandate on private property owners.
Giving the renters $1200
Because they can’t afford the rent
Tell the property of owner you can’t evict
Only makes sense in government
...if you won’t be evicted, you won’t use the money to pay rent.