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Delayed Crisis, Bigger Problems

Earlier this month, a branch of the US government clearly overstepped their bounds (in my humble opinion, anyway) by putting a moratorium on evictions for renters who cannot pay their rent. What business does the CDC have messing with housing issues?

And you are probably asking, “What does a ‘moratorium’ mean, anyway?”

Google says a moratorium is “a temporary prohibition of an activity.” In this case, if you don’t pay your rent, you cannot get kicked out of your rental until the end of the calendar year, at which time, all the rent you have NOT paid will be due, in full. But chances are you will already have spent it on other things, especially if you haven’t been following my blog.

A friend of mine who owns a few properties shared her thoughts with me. She said the government is basically encouraging tenants to “use the next 4 months of rent to spend on things [they] don’t need and can’t afford for Christmas, and then end up evicted in the dead of winter. What is going to happen is that landlords are going to sell, and there won’t be any homes for rent. People that can’t afford to buy will be out of luck.”

She’s right.

Many landlords carry a mortgage on the home you rent from them, and they rely on the rent you pay to make that mortgage payment. SOMEBODY will foreclose SOME TIME and you WILL lose your home.

Think about it, people.

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