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Eviction notice downloads soar after federal moratorium ends

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Re: Eviction notice downloads soar after federal moratorium ends

#221

Post by joshspankit »

throwaway1777 wrote: post #146
tehwebguy wrote: post #125

Earlier quoted context omitted.

> What am I missing? - Not all evictions were covered by the federal ban, or any applicable local bans - Most people likely did not actually go through the eviction process (most people want / try to pay their bills; most would avoid a life where a landlord is constantly hounding them for unpaid rent; its greatly preferable for a tenant to avoid the mark by almost any means; can be expensive for landlords; some landl…

As a small scale landlord I haven’t had a single tenant abuse the moratorium. I believe another factor is rents have been on the rise, so if you do get evicted good luck finding a similar place.

I would not have been mad (as in “I’m not even mad, that’s impressive” to paraphrase the quote) if someone abused the moratorium to put every month’s rent in the bank and move out with enough cash for a down payment on their own property.

Re: Eviction notice downloads soar after federal moratorium ends

#222

Post by bradgessler »

tjr225 wrote: post #67
PragmaticPulp wrote: post #22

These headlines are some of the weirdest backwards stories I’ve seen lately. It’s like everyone is desperate to make this into a crisis yet reality isn’t delivering the eviction catastrophe the headline writers wanted. Obviously we’re seeing more evictions now that they’re literally not banned. That’s not news. However, this is shocking: > The rates of evictions served are approaching pre-pandemic levels in certain a…

I've been thinking about this a lot lately. The current state of things appears to be that internet and media/ad revenue AI machine seem to have come together to put us in an sort of shepard tone of fear and impending doom. Pandemic, war, inflation, division, shortages, crypto, every storm has a name, everything is record breaking. I have more to be grateful for than I've ever had before, in spite of all of this some…

I had this revelation a few years ago and built https://legiblenews.com/. There’s no “breaking news”, no images. It’s just boring black text on a white background that’s updated once per day and links to encyclopedia articles for context. More of the “why” at https://legiblenews.com/about.

It’s just insane to me that I had to build this in the first place.

Re: Eviction notice downloads soar after federal moratorium ends

#223

Post by olivermarks »

djrogers wrote: post #140
olivermarks wrote: post #17

Earlier quoted context omitted.

This is the old fantasy that 'landlords' (one of the most inaccurate words in the English language) lounge around extracting money from the peasants living in their properties. This mom and pop rentier idea is specious, but that is exactly what the big global corporations who are hoovering up North American properties are doing this year, under a Democrat controlled administration. Small landlords are losing not only…

> This mom and pop rentier idea is specious I'm not sure that word means what you think it means. >40% of all rentals are owned by individuals, and if you take large multi-unit apartments out of the equation that rises to >72% - that's your "mom and pop" rentals, which by most judgements would take it from the realm of specious and put it smack dab in the realm of the common. It's quite common for retirees to own out…

That was the point I as attempting to make - mom and pops are not rentier layabouts and work hard to provide rental accommodation and keep it up to spec.

Re: Eviction notice downloads soar after federal moratorium ends

#224

Post by olivermarks »

cyberge99 wrote: post #83
olivermarks wrote: post #17

Earlier quoted context omitted.

This is the old fantasy that 'landlords' (one of the most inaccurate words in the English language) lounge around extracting money from the peasants living in their properties. This mom and pop rentier idea is specious, but that is exactly what the big global corporations who are hoovering up North American properties are doing this year, under a Democrat controlled administration. Small landlords are losing not only…

What does the current administration have to do with any of this? Greedy corporations are the problem and they’ve been doing since before the current Pres.

A Democrat controlled administration should be looking out for renters, not big global corps

Re: Eviction notice downloads soar after federal moratorium ends

#225

Post by pandaman »

maxmamis wrote: post #154
JumpCrisscross wrote: post #139

Earlier quoted context omitted.

> where is the rest going? Have you owned a normal-sized house? Repairs, insurance, inspections, et cetera . Also staging, advertising, pursuing delinquencies. Rental yields in most cities are in the low single digits. Where that isn’t true, it’s because local politicians protect the landlords by restricting development, often in cahoots with grandfathered-in renters.

> Repairs, insurance, inspections, et cetera rents in the city where I live are up 11% in the past year. did the cost of repairs and inspections increase by that much? > Also staging, advertising, pursuing delinquencies ah, so I'm paying for my landlord to increase their rate of return and put my fellow tenants on the street. got it.

>rents in the city where I live are up 11% in the past year. did the cost of repairs and inspections increase by that much?

It increased much more, even the official inflation is 7% over 2021.

Re: Eviction notice downloads soar after federal moratorium ends

#226

Post by notch656a »

thegrimmest wrote: post #219
notch656a wrote: post #214

Earlier quoted context omitted.

>Just because the tenant doesn't pay rent, it doesn't meant he landlord doesn't have to pay his mortgage Precisely! Not paying rent is a damage to the landlord. You're destroying value. So we can't say you aren't damaging anything if you just don't damage the house. >The main differentiating factor between a landlord and a tenant is risk of default. If you are appraised to have a risk low enough for a bank to tolerat…

> I'm pointing out how idiotic it is for someone to be trusted with a 700k house who can't be trusted with 100k mortgage. But this happens all the time when people rent anything . You can rent a Lambo, doesn't mean you can afford to buy one. Trusting someone not to destroy something while the use it isn't the same as trusting them to pay you the full value of it upfront. Otherwise it seems like you're suggesting ther…

I'd argue the biggest cause of the MBS was lack of understanding of risk on the part of those buying the securities, not the risk itself. Markets can tolerate risk when it is priced in appropriately.

>Trusting someone not to destroy something while the use it isn't the same as trusting them to pay you the full value of it upfront.

You don't trust them to pay you. If you did, the house wouldn't have a lien on it. You may mostly kind of trust they won't burn it down or destroy it, so you might trust you'll say get 80% of your money back and thus require a 20% down payment or something.

>But they are and it works just fine.

If the market can find a way to price in risk for someone renting a 700k house which entails them usually paying at least interest on the value of house + property tax + maintenance (this is all indirect payment, but basically what a landlord needs to charge to at least break even), the market can find a way to price in risk for that same person buying a 100k house.

Re: Eviction notice downloads soar after federal moratorium ends

#227

Post by notch656a »

thegrimmest wrote: post #218
notch656a wrote: post #215

Earlier quoted context omitted.

I'm not a fan of eliminating landlords, but I can easily and trivially see a system how housing is built and provided without landlords or mortgage providers. The old Latin American way: you buy each brick when you can afford it. Unfortunately the imbeciles in government would have an aneurism: "NOO!!! you can't just buy bricks and stack them without a special stamp on a piece of paper!!!! How else can I buy my next…

Even in the Latin American way, surely there are people who can afford more than one house, and decide to rent out the surplus? But I agree that regulatory overhead in housing construction is very high, and this contributes to the cost of housing. The favelas in Latin America, whose property are they actually built on?

>Even in the Latin American way, surely there are people who can afford more than one house, and decide to rent out the surplus?

Sure, I don't really have a problem with landlords benefitting from investing into a house and renting it. I'm kind of with Adam Smith on the problems of rent-seeking of the value of the raw land, but I'm not sure a better system than private property can be found for dealing with that.

> The favelas in Latin America, whose property are they actually built on?

Maybe somebody elses, maybe nobody's, maybe their own? I have no idea. If you aren't discriminating you can build a house brick by brick anywhere until someone with guns or a sledgehammer makes you stop, be it a land owner, gangster, government, whoever. I'd be interested in knowing myself.

Re: Eviction notice downloads soar after federal moratorium ends

#228

Post by dang »

maxmamis wrote: post #63
q1w2 wrote: post #54

Earlier quoted context omitted.

As a landlord, I can tell you that the government does NOT replace ANY of the missed rent. Moreover, while many tenants have continued to pay their rent - MANY have gradually started realizing that I am unable to evict them, and have completely stopped paying rent. Moreover, they have started collaborating under the assumption that there is more protection if they do it together. Like other landlords, I have lost a t…

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Re: Eviction notice downloads soar after federal moratorium ends

#229

Post by rhacker »

notch656a wrote: post #107
thegrimmest wrote: post #94

Earlier quoted context omitted.

That still leaves an enormous quantity of people who don't have 100k just laying around, and are not reliable enough to be loaned the sum.

Someone who can't be trusted with 100k shouldn't be entrusted to inhabit a house worth 700k. One careless action can easily cause 100k worth of damage to a house. It's probably easier to keep 100k safe than it is to keep at least 600k of value of a 700k house safe.

I don't know where these numbers came from. There is NO 700k house in my imaginary scenario. In fact the entire cost to BUILD this house is 100k, so the only way for damage to reach 100k would be for the house to literally burn down - which is covered by insurance. The most you would expect "junking up" a house that costs 100k would probably be about 10 - 20k of damage - depending on the finishes. This whole thread spawned from this comment makes no sense. And again, since this world has no renting, these people want to TAKE CARE of their house, not ruin it. Even if these people decide to "junk it up" on purpose because they are about to default - again burning causes insurance payout to the bank and other than that it's just up to 20k. The other goal here though is that because it's 100k there's a much higher chance that this person can work a normal / non coding job and make ends meet and live in this 100k house just fine with little chance of defaulting.
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