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ctenc001150 karma

What is going to happen when the bill comes due and mortgages are too far behind to get caught up, and rent is too far behind to get caught up?

I foresee massive foreclosures in the coming year which will kinda solve the affordable housing porblem short term when the housing market collapses.

ctenc00115 karma

The difference is this time the landlords are getting hit in the pocket first. Landlords are going 6 months + without collecting rent on a large percentage of their properties. Many of them are going to have cold feet investing in real estate going forward. And many others simply won't have the capital anymore due months in the red.

Landlords will be selling in droves too alongside home owners.

Investments are made based on risk and expected returns. Since covid, and the freeze in evictions, risk can no longer get calculated and expected returns are unknown for rentals.

You could argue that the rent freeze is only temporary, but it has set a new precedent where the risk of the government issuing future rent freezes is now possible. This was unheard of before now. And we've been told covid will last years.

ctenc0015 karma

It terms of low income housing support. What incentives do landlords have for lowering rent below market value, or offering rentals their rentals as privately owned subsidized housing.

From a landlords perspective, low income housing has always had a far greater risk of turnover rate, and damages to the property. Have programs ever been considered where in exchange for lower rent, payment could be received in full up front for the length of the lease if rent is already being subsidized by the government? Or a program to assist with costs when a place is trashed or damaged by a tennant. Or even property tax relief?

ctenc0014 karma

In what world would seizing property from landlords make sense??

ctenc0013 karma

Being a landlord is a form of labor. Making investments is a form of labor. Let's redistribute the entire stock market while we are at it.

Landlords are who build and maintain most properties.

The dollar is nothing more than a representation of labor and time. We trade labor and time for goods and services. A landlord invested their labor and time into rental properties.