Latest Breaking News
In reply to the discussion: Federal judge vacates CDC's nationwide eviction moratorium [View all]cinematicdiversions
(1,969 posts)There is no practical difference to a renter owing 8500 in back rent and owing 12,500 in back rent. Neither will ever be paid.
The problem is that the small time landlord is forced to sell his house. The new owners whether corporate landlords or private homeowners will have no interest in renting the property out to the local population.
Look at the unintended consequences to the draconian rental rules in Seattle. All that has done is eliminate rental properties within city limits even further reducing the housing stock for low-income workers. You don't need a finance degree to see that train coming down the tracks.
When the game of musical chairs finally stops, the problem may not be are their affordable rentals for the working poor. The issue could easily be are there rentals at all.
Eliminating the current rental stock through severe interference in the market may feel good now but is has fairly negative fallout for those exact people we a purporting to help. This policy only seems to assist Reits and corporations who can easily afford to ride out the squeeze.