Trump, through CDC, suspends all evictions nationwide

submitted by magnora7 from zerohedge.com

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[–][deleted] 8 insightful - 2 fun8 insightful - 1 fun9 insightful - 2 fun -  (29 children)

Okay, but then whose to stop the banks from foreclosing on payments the landlords can no longer make? You have to run this entirely up the chain. You can't just arbitrarily stop at one point and declare the job done. The ENTIRE chain must be put on ice, including taxes, so nobody is actually losing any money.

[–]JasonCarswell 10 insightful - 8 fun10 insightful - 7 fun11 insightful - 8 fun -  (1 child)

All the small banks will die and only big banks will monopolize and survive. It's okay though. They've been bailed out already, several times. They're too big to fail and you're too small to succeed.

[–]goobandit 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (0 children)

They're too big to fail and you're too small to succeed.

[–][deleted] 4 insightful - 3 fun4 insightful - 2 fun5 insightful - 3 fun -  (26 children)

really we should out law renting, even the term "land lord" is disgusting. If it looks like renters won't pay then it becomes a less lucrative thing to buy up property just to rent it, hopefully it goes away, and housing prices will decrease.

[–]Druullus 3 insightful - 3 fun3 insightful - 2 fun4 insightful - 3 fun -  (16 children)

Does banning stuff work?

[–][deleted] 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (15 children)

helps

[–]Druullus 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (14 children)

like peeing your pants, helps?

[–][deleted] 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (13 children)

terrible post

[–]Druullus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (12 children)

so peeing your pants helps?

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (11 children)

grow up. this is a big boy site. Head on over to reddit for trolling.

[–]Druullus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (10 children)

grown ups ban stuff?

[–][deleted] 3 insightful - 3 fun3 insightful - 2 fun4 insightful - 3 fun -  (9 children)

yep bad stuff like murder

in little kid world anything goes

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (6 children)

Actually the solution is the opposite. Supply and demand. With a greater supply of cheap housing the demand falls, ensuring rents of all residences fall. The reason rents are so high in some places is due to the fact small efficiency living spaces are not allowed to be built, whereas cities that allow them can net you rooms for rent as low as $200-300.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (5 children)

there are many houses sitting empty as banks don't want to sell them unless prices go up. The law of supply and demand doesn't work in this banker owned world, they get constant bailouts if they ever lose one cent of profits.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (4 children)

there are many houses sitting empty as banks don't want to sell them unless prices go up.

This is not reality. Houses sit empty because nobody wants to buy them. Places built in the middle of nowhere that've fallen apart over the 10 years they've been listed, because people don't want to live in the country like that. People with university degrees have to live and work in cities. Traveling 50 miles to commute from a country estate isn't cheap nor is it good for the sanity.

The second thing that happens with overvalued properties is that, for banks, it can be more profitable not to sell them to inflate their total asset holdings. Hence NYC properties valued in multiple millions for empty lots, or asbestos ridden shitholes, because keeping those assets lets banks loan more money. But this is only true for urban shitholes, not the tons of empty houses dotting the country in the middle of nowhere.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (3 children)

for a while people were moving back to cities instead of suburbs as cities had improved/gentrified and people wanted to save money on transportation, gas, upkeep of cars etc. That may reverse as cities have been getting looted and pillaged. But it's a fact there are thousands of houses not being sold and banks would rather let them sit and rot than sell them at a loss because they're worried it becomes a trend and housing prices go down. Just like how the fed tries to keep inflation high. We would have deflation in a normal market where prices go down because people's wages go down and there are less jobs than before.

Yeah that is why it is more profitable to not sell them. Asbestos, great point, this is what made the WTC buildings worth less and hard to sell. Of course asbestos is in shtty urban shitholes as well as the suburbs.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

I don't think you're following. The reason they're not selling is not necessarily a cabal that keeps prices high, it's that holding assets counts toward their ability to lend money. In other words, banks holding onto these properties they they're mutually valuing beyond any sane persons desire to pay because it actively makes them more money by lending the value of those assets. A purely natural state of affairs thanks to what is frankly a gross oversight by the government in allowing banks to value assets beyond the money they hold.

[–][deleted] 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (1 child)

bad post. blocked.

[–][deleted] 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (0 children)

I'm sorry you're not mature enough to handle reasoned arguments. Maybe one day your balls will drop.

[–][deleted]  (1 child)

[removed]

    [–][deleted] 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (0 children)

    bruh