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MP4VT2004

Joined: 09/09/2007 Posts: 16646
Likes: 13850


I just read the enclosed story on evictions in Richmond...


...and I'm really scratching my head about what exactly renters think happens to their landlord when they don't pay their rent. It seems many renters have the notion that their landlord is an upper class rich real estate mogul who owns the property outright and is reaping in bundles of cash in the form of rent collection. In reality, I'd wager that most landlords have a mortgage on the property or own it in conjunction with other investors, and owe someone up the chain a monthly payment on their end. So when the tenant doesn't pay, the landlord is essentially funding their ability to have a roof over their head. Why should the tenants be the only ones getting relief during the pandemic? Why not the landlords, too? Why aren't we hearing "No rent, no mortgage payment!" championed as a slogan?

In no way do I intend this to be a political discussion, so hopefully it won't become that. I'm legitimately trying to figure out why anyone thinks that tenants should be given free housing at the expense of a landlord who is barely covering their costs while carrying a mortgage on the property. This is obviously not sustainable and is the main reason I have major concerns about the long-term economic impact of the pandemic. I don't think we've even begun to see the domino effect that is going to come when bank foreclosures inevitably begin to happen because landlords/property owners can't keep up with their mortgage payments.

Link: Click here


Posted: 09/25/2020 at 11:26AM



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Current Thread:
  This is why we aren’t renting a house now -- WestyHokie 09/25/2020 6:14PM
  Bunch of blood sucking capitalist pigs. -- MikeVT85 09/25/2020 3:17PM
  FWIW, re: restitution -- Beerman 09/25/2020 2:11PM
  I guess my point is... -- MP4VT2004 09/25/2020 2:55PM
  I feel badly for people that lose money on investments -- typed by ben 09/25/2020 9:03PM
  ...this guy ?... -- chumley 09/25/2020 1:12PM
  The landlord may have some means of relief too. -- Hokie360 09/25/2020 12:09PM
  Yep. Also see EIDL and PPP loans ** -- bluehokie 09/25/2020 5:20PM
  Life isn't fair ** -- ModerateHokie 09/25/2020 12:18PM

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