The Trump Pandemic: Housing Crisis

[boutons_deux]

More than 20 million people face eviction by the end of September as GOP threatens to cut aid

Republicans are set to let millions of American renters go off a cliff —

while Trump's properties seek rent relief


One in five Americans who live in rentals could face eviction by the end of September as Congressional Republicans move to cut off unemployment assistance and other coronavirus relief,

More than 20 million people — roughly 20% of the 110 million Americans living in rented homes — could face homelessness by the fall,

More than 20 states, including hard-hit Texas and South Carolina, have already allowed eviction proceedings to resume

The federal moratorium, which was implemented under the CARES Act, is set to expire on July 25, after which renters will get 30 days notice of eviction proceedings.

renters unable to pay during the pandemic will be on the hook for months of back rent once they expire.

House Democrats approved a $100 billion rental assistance and $75 billion homeowners' assistance program last month, but it was rejected by Republicans,

under the leadership of President Trump our Transition to Greatness has already begun," White House spokesman Judd Deere told The Washington Post.

Trump's Palm Beach golf club sought rent relief over the "significant impact" caused by the shutdowns.

The Trump Organization also asked the Trump administration for a break on its lease agreement for the Trump International Hotel in DC after it stayed empty throughout the pandemic.

"There's a housing supply problem of just not enough units being built,

"It's driving up rents at all ends of the spectrum so you have that reality of the fact that the supply response to the demand for housing in many markets has been insufficient."

"distinct lack of federal intervention" on housing affordability, Let predatory, avaricious Capitalists run wild. It's the American Way.

https://www.salon.com/2020/07/11/mor...cut-aid-study/

[boutons_deux]

America's looming housing crisis

So far this month,

one third of Americans have failed to make their full monthly housing payments on time.

The figures were roughly the same last month and the month before that.

Similar numbers are being reported for automobile loans and credit cards.

Federal student loans have not been collected in months.

Around 10 percent of mortgages in this country have gone into forbearance.

Similar so-called "hardship" programs are locking in millions of people to terms with which they may or may not be able to comply next week, much less six months from now.

Defaults are going to pile up until practically the only people continuing to pay rent in this country will be the foreign tycoons sitting on former mom-and-pop storefronts in Manhattan

the coming avalanche of housing-related debt has been entirely predictable.

Even before the unilateral suspension of civilization brought unemployment to Great Depression levels,

the average American household had no savings or, on the eve of payday, liquid cash of any kind.

We don't solve problems in this country in normal times, when they are blinkeringly obvious.

We should not expect to do so in the middle of a crisis.

https://theweek.com/articles/924625/...0-art%E2%80%A6

[SnakeBoy]

America's looming housing crisis

So far this month,

one third of Americans have failed to make their full monthly housing payments on time.

The figures were roughly the same last month and the month before that.

Similar numbers are being reported for automobile loans and credit cards.

Federal student loans have not been collected in months.

Around 10 percent of mortgages in this country have gone into forbearance.

Similar so-called "hardship" programs are locking in millions of people to terms with which they may or may not be able to comply next week, much less six months from now.

Defaults are going to pile up until practically the only people continuing to pay rent in this country will be the foreign tycoons sitting on former mom-and-pop storefronts in Manhattan

the coming avalanche of housing-related debt has been entirely predictable.

Even before the unilateral suspension of civilization brought unemployment to Great Depression levels,

the average American household had no savings or, on the eve of payday, liquid cash of any kind.

We don't solve problems in this country in normal times, when they are blinkeringly obvious.

We should not expect to do so in the middle of a crisis.

https://theweek.com/articles/924625/...0-art%E2%80%A6

That's a strong case for opening up the economy

[ChumpDumper]

That's a strong case for opening up the economy

What's left to open?

[Trainwreck2100]

What's left to open?

Schools

[ChumpDumper]

Schools

It's July. They'll be opening next month as planned. I don't see any number of deaths stopping that.

[Blake]

That's a strong case for opening up the economy

What was the case for shutting non essential brick and mortar businesses down?

[boutons_deux]

I can see the Repugs cutting aid for the unemployed to brutally force them back to work (if they can find work with 1.4M new jobless/week) while cases/day now almost double what they were in April, 65K new cases/day.

Several millions small businesses shut down, 1M permanently.

Other countries got their pandemic under control, can attempt re-opening, while USA's Repug govt has totally, mortally FAILED

[Winehole23]

It's July. They'll be opening next month as planned. I don't see any number of deaths stopping that.

Gap year for everyone.

Cancel the 2020-1 school year.




(We won't do it, but we should. Better to lose a year of school than bury your parents and grandparents.)

[ChumpDumper]

Gap year for everyone.

Cancel the 2020-1 school year.




(We won't do it, but we should. Better to lose a year of school than bury your parents and grandparents.)

Yeah that's beyond the comprehension of the get-out-there-and-die-already crowd. At this point I'm fine with getting most Pre-K thru elementary in brick and mortar locations as long as the staff are all lower risk/volunteers. The older the kids and older/higher risk teachers need to do much more distance work to avoid the Israel situation.

[Winehole23]

Yeah that's beyond the comprehension of the get-out-there-and-die-already crowd. At this point I'm fine with getting most Pre-K thru elementary in brick and mortar locations as long as the staff are all lower risk/volunteers. The older the kids and older/higher risk teachers need to do much more distance work to avoid the Israel situation.

What you say sounds reasonable, but it's more or less loony to suppose we'll start getting it right now.