30 million US renters ‘at risk of eviction’

[edjr 5,547]

https://money.yahoo.com/housing-expert-30-million-us-renters-at-risk-of-eviction-202003798.html

 

Quote

 

As eviction protections set to expire across the United States, up to 30 million tenants may be at risk of being thrown out of their homes, according to one expert.

“We reached a number of 19 to 23 million tenants in the U.S. at risk of eviction, which is terrifying in this moment,” said  Zach Neumann, co-founder of the COVID-19 Eviction Project, a community legal initiative, told Yahoo Finance recently. “Now we’re approaching 30 million tenants in the United States who may be at risk of eviction and that’s largely based on the U.S. Census Bureau’s survey data.” 

His comments come after nearly a third of American renters missed their July rent payments, according to a study by Apartment List, an apartment listing website. 
Even those who were protected by the CARES Act will see the moratorium on evictions expire Monday.  The law only applied to properties with federally backed mortgages for a 120-day window starting March 27.

There still is an extra cushion for at-risk renters, Neumann said. A renter facing eviction is required to get a one-month advance notice. 

“They’ll enter a 30-day notice period, so you wouldn’t start to see their evictions until early September,” Neumann said. “But I think in states where tenants are not covered by federal eviction moratorium or live in non-covered properties and where those states have lifted the eviction moratorium, you’re starting to see very significant numbers across the country.”

This 30-day notice period will come with its own set of unique technical challenges, Neumann said. 

“Zoom hearings are taking place around the country,” he said. 

Typically, tenants facing eviction can respond to a court case against them by going to the courthouse. But many can’t access the Zoom hearings, meaning the court can enter a default because the renter didn’t show up.

“The early data in Colorado where I live and practice law suggests that in this very first part of the wave of evictions we expect to see, 96% of tenants have defaulted,” Neuman said. 

 

I really do feel for renters and owners. This is going to be a clusterfock. I figure in 12 months, the housing market will be flooded with foreclosures. 

 

[tanatastic 2,061]

We have been trying to buy a house but have this sinking feeling that another crash is coming and we should just wait. This chitstorm is going to ripple effect it’s way through the market and we won’t feel some of the effects for a little while.

[Hardcore troubadour 12,591]

It’s been extended for another month. 

[edjr 5,547]

6 minutes ago, tanatastic said:

We have been trying to buy a house but have this sinking feeling that another crash is coming and we should just wait. This chitstorm is going to ripple effect it’s way through the market and we won’t feel some of the effects for a little while.

you should. we are.

[KSB2424 3,082]

If they are going to get 1200 two times now and an extra 600 for unemployment why can’t people pay rent?

[TBayXXXVII 2,107]

13 minutes ago, KSB2424 said:

If they are going to get 1200 two times now and an extra 600 for unemployment why can’t people pay rent?

 

The $600 payments started on April 10th (plus or minus), that's 15 weeks, so that's $9k.  With the two $1200 payouts, that's $11,400 in 4 months.  If you had a full-time job making $12/hr and got laid off... but got 50% for unemployment, that gave you an additional $3600, bringing your total up to $15k.  If you made $12/hr and worked 40 hours a week, you'd make $7,200 over that same 15 week period.  That means you made more than DOUBLE what you'd have made had you not been laid off.  How can you not be able pay rent?

If you're still working, you got an extra $2400.  Again, how are you not able to pay rent?

[edjr 5,547]

42 minutes ago, KSB2424 said:

If they are going to get 1200 two times now and an extra 600 for unemployment why can’t people pay rent?

if I lost my job due to covid, i wouldn't pay rent either. like 2400 over 6 months is so great amount of cash to live off? cmon man

[KSB2424 3,082]

18 minutes ago, edjr said:

if I lost my job due to covid, i wouldn't pay rent either. like 2400 over 6 months is so great amount of cash to live off? cmon man

If you lost you job due to covid you file for unemployment and have been getting normal unemployment PLUS $600 per WEEK extra, every week.  That’s $2,400 per month. 

[NorthernVike 2,080]

No reason deadbeats should not have been paying rent.  Handouts are a plenty.  Pay your focking bills. 

[iam90sbaby 2,120]

What they should have done is the first round stimulus of $1,200, never do the extra $600 a week for unemployment and have rent forgiveness for the rest of 2020, take the $600 you are saving from not giving it to citizens and create some kind of landlord stimulus program. Jan 1st 2021 every goes back to normal. It keeps people in their homes and encourages people to get back to work because they don't have any extra income.

[edjr 5,547]

15 hours ago, KSB2424 said:

If you lost you job due to covid you file for unemployment and have been getting normal unemployment PLUS $600 per WEEK extra, every week.  That’s $2,400 per month. 

white privilege 

[listen2me 23 1,537]

16 hours ago, TBayXXXVII said:

 

The $600 payments started on April 10th (plus or minus), that's 15 weeks, so that's $9k.  With the two $1200 payouts, that's $11,400 in 4 months.  If you had a full-time job making $12/hr and got laid off... but got 50% for unemployment, that gave you an additional $3600, bringing your total up to $15k.  If you made $12/hr and worked 40 hours a week, you'd make $7,200 over that same 15 week period.  That means you made more than DOUBLE what you'd have made had you not been laid off.  How can you not be able pay rent?

If you're still working, you got an extra $2400.  Again, how are you not able to pay rent?

Yea this is what Ive been wondering.  Got in an argument with someone about the 600 dollars ending.  After a very short discussion I simply said "do you know a single person who is struggling since this hit" they said no.   

I see people buying things they wouldnt.  My neighbors bought a boat.   We live in WNY.

[FlyinHeadlock 459]

16 hours ago, TBayXXXVII said:

 

The $600 payments started on April 10th (plus or minus), that's 15 weeks, so that's $9k.  With the two $1200 payouts, that's $11,400 in 4 months.  If you had a full-time job making $12/hr and got laid off... but got 50% for unemployment, that gave you an additional $3600, bringing your total up to $15k.  If you made $12/hr and worked 40 hours a week, you'd make $7,200 over that same 15 week period.  That means you made more than DOUBLE what you'd have made had you not been laid off.  How can you not be able pay rent?

If you're still working, you got an extra $2400.  Again, how are you not able to pay rent?

I think you are trying to use sound reasoning on a Yahoo article. Never works. Believe me I tried. The main contributor just had to get in there at the end he practices law. Yes because lawyers know all about finance and spending habits of millions of people like the back of their hand. Should of just said he digs for fossils for fun in CO and knows things.

[vuduchile 1,940]

16 hours ago, TBayXXXVII said:

 

The $600 payments started on April 10th (plus or minus), that's 15 weeks, so that's $9k.  With the two $1200 payouts, that's $11,400 in 4 months.  If you had a full-time job making $12/hr and got laid off... but got 50% for unemployment, that gave you an additional $3600, bringing your total up to $15k.  If you made $12/hr and worked 40 hours a week, you'd make $7,200 over that same 15 week period.  That means you made more than DOUBLE what you'd have made had you not been laid off.  How can you not be able pay rent?

If you're still working, you got an extra $2400.  Again, how are you not able to pay rent?

It's been a huge bonus for lower level wage earners. 

[FlyinHeadlock 459]

6 minutes ago, vuduchile said:

It's been a huge bonus for lower level wage earners. 

It's called wealth redistribution. Should have been a low interest loan from day one. Totally fvcked up society where the upper middle class get nothing but a hard time while low wage earners double their income. 

 

[LOD01 185]

40 minutes ago, FlyinHeadlock said:

It's called wealth redistribution. Should have been a low interest loan from day one. Totally fvcked up society where the upper middle class get nothing but a hard time while low wage earners double their income. 

 

I'm just happy I finally get free $ like the losers i support with my taxes.

[kilroy69 993]

18 hours ago, TBayXXXVII said:

 

The $600 payments started on April 10th (plus or minus), that's 15 weeks, so that's $9k.  With the two $1200 payouts, that's $11,400 in 4 months.  If you had a full-time job making $12/hr and got laid off... but got 50% for unemployment, that gave you an additional $3600, bringing your total up to $15k.  If you made $12/hr and worked 40 hours a week, you'd make $7,200 over that same 15 week period.  That means you made more than DOUBLE what you'd have made had you not been laid off.  How can you not be able pay rent?

If you're still working, you got an extra $2400.  Again, how are you not able to pay rent?

I have 8500 in the bank and already payed rent for next month. I only made 200 more a month than I typically did but I knew that the gravy train would end sometime so I saved like a miser. My total bills equal 1300 bucks a month. I live in a cheap apartment. I don't pay child support and don't have a gf. My only responsibility is my 6 year old and a cat. 

 

That being said. My brother has a family of 6. He would need way more than I to keep things running. 

[FlyinHeadlock 459]

2 minutes ago, kilroy69 said:

I have 8500 in the bank and already payed rent from the month. I only made 200 more a month than I typically did but I knew that the gravy train would end sometime so I saved like a miser. My total bills equal 1300 bucks a month. I live in a cheap apartment. I don't pay child support and don't have a gf. My only responsibility is my 6 year old and a cat. 

You made 200 more a month. What did you make to earn it. 

[kilroy69 993]

1 minute ago, FlyinHeadlock said:

You made 200 more a month. What did you make to earn it. 

Couple of really nice crocheted mittens

[Hardcore troubadour 12,591]

2 minutes ago, FlyinHeadlock said:

You made 200 more a month. What did you make to earn it. 

He lost his job because the government shut down. Is that his fault? 

[kilroy69 993]

4 minutes ago, Hardcore troubadour said:

He lost his job because the government shut down. Is that his fault? 

Not only that I WANT to go back. Keep the 200 a month extra. My job gives me a feeling of self worth and to me is more than a paycheck. It's what I do. These people that do not want to go back to work have shittyy jobs or poor work ethic. I have neither. 

[FlyinHeadlock 459]

2 minutes ago, Hardcore troubadour said:

He lost his job because the government shut down. Is that his fault? 

I get that part. It's the I make more now part. Nobody is making more now not working. They receive more. The only people making more are those still working either by longer hrs or a raise.

 

 

 

[Hardcore troubadour 12,591]

1 minute ago, FlyinHeadlock said:

I get that part. It's the I make more now part. Nobody is making more now not working. They receive more. The only people making more are those still working either by longer hrs or a raise.

 

 

 

The help was needed fast. I don’t think they had time to try and figure out who made what. This round should be more efficient. We’ll see. 

[KSB2424 3,082]

7 minutes ago, Hardcore troubadour said:

The help was needed fast. I don’t think they had time to try and figure out who made what. This round should be more efficient. We’ll see. 

Yup

[FlyinHeadlock 459]

• Should have been a zero interest loan for 5 years. Take as much as you need but it will be paid back approach. Either by not getting a tax refund check or pay it back monthly.

[lickin_starfish 1,477]

I made $10K over a 10 week layoff, plus $3900 stimulus. That's enough to live comfortably, and start dabbling in Robinhood.

I don't see how people aren't making their rent. 

[kilroy69 993]

16 minutes ago, Hardcore troubadour said:

The help was needed fast. I don’t think they had time to try and figure out who made what. This round should be more efficient. We’ll see. 

It is not just that. Most people think oh the state can just put a new program in place on their system and BAM it calculates the rate at 70% and pays you out.  That is laughably simple minded. These state systems were built on Cobol.  The first thing is that cobol is like the human body. Implementing a wage payout by percentage would mean changing the code and once you do that it causes problems down the line. Think turning off a cancer gene but suddenly growing hair like a bear. Somewhere downstream its gonna break.  Then lets talk about the job itself. The AVERAGE age of a software engineer is 32 years old.  The average age of a cobol programmer is 56 and 10% a year are aging out of the system. 

You need the people who understand this language and can test it and a large majority of those people are retired or getting ready to. 

[edjr 5,547]

29 minutes ago, FlyinHeadlock said:

• Should have been a zero interest loan for 5 years. Take as much as you need but it will be paid back approach. Either by not getting a tax refund check or pay it back monthly.

TB12 got a loan from the gubment for his snake oil, why shouldnt everyone have been able to do the same?

[TBayXXXVII 2,107]

1 hour ago, kilroy69 said:

I have 8500 in the bank and already payed rent for next month. I only made 200 more a month than I typically did but I knew that the gravy train would end sometime so I saved like a miser. My total bills equal 1300 bucks a month. I live in a cheap apartment. I don't pay child support and don't have a gf. My only responsibility is my 6 year old and a cat. 

 

That being said. My brother has a family of 6. He would need way more than I to keep things running. 

Are they renting?

[kilroy69 993]

4 minutes ago, TBayXXXVII said:

Are they renting?

No. They own and his wife makes bank so they are in no risk unless she loses her job which is unlikely. If they did though what the state pays would not cover them for sure. 

[TBayXXXVII 2,107]

Just now, kilroy69 said:

No. They own and his wife makes bank so they are in no risk of anything 

Ok, cool.

[TBayXXXVII 2,107]

18 hours ago, iam90sbaby said:

What they should have done is the first round stimulus of $1,200, never do the extra $600 a week for unemployment and have rent forgiveness for the rest of 2020, take the $600 you are saving from not giving it to citizens and create some kind of landlord stimulus program. Jan 1st 2021 every goes back to normal. It keeps people in their homes and encourages people to get back to work because they don't have any extra income.

That makes too much sense.  The government would never do that.