2 ms·

If you're being evicted, you have a problem. If 40m people are being evicted, the landlord has a problem.

coldcode 6y ago
The bank that the landlord owes money to has the real problem, but they are backed by the Fed printing press. So in the end future generations have the real problem, dealing with the debt. But 40M homeless people is everyone's problem. In reality just paying the rent of 40M people is cheaper than anything else, assuming you care about society. Assuming a national average of $1000 per month rent, that's $40B a month, which is chump change compared to what the Fed is printing. Or, you can kick all these people out on the street, and give the money to the banks directly. Of course its 40M people being evicted, not 40M apartments. So these numbers will be closer to $10B a month.
- formercoder 6y ago
  Banks don’t have much of that risk. MBS holders have the real problem.
rbecker 6y ago
Really a stimulus is just subsidizing inflated rents. And landlords are using the threat of mass homelessness to coerce the government into that subsidy.
- steffan 6y ago
  That's a simplistic view that doesn't take into account property prices; not every landlord has owned property since the beginning of time, taking advantage of price increases. Imagine a retired teacher who decides to rent out a garage apartment to supplement her pension - is she taking advantage of 'inflated rents' if the rent amount barely covers a proportional amount of the mortgage? Additionally, landlords have to pay 'inflated property taxes', 'inflated utilities', and 'inflated garbage service' - these aren't discretionary costs for a property owner unless you advocate letting people stay in their apartments, but without landlord contributions to water, heat, cooling, garbage.
  - nsnick 6y ago
    Retired teachers in San Francisco who own property have either owned it since the beginning of time, or have an incredibly rich spouse.
  - rbecker 6y ago
    All your examples are consequences of inflated property prices. When I complained of inflated rents, the complaint over property prices was implied. By subsidizing rents, you also subsidize property prices.
  - mercer 6y ago
    Most landlords are not retired teachers who rent out their garage apartment.
- googthrowaway42 6y ago
  Certainly the fiscal stimulus and monetary stimulus as been inflating the housing and rental markets, there's no question whatsoever. Generally speaking the asset holding class has benefited wildly from all of this stimulus to the detriment of the working and middle class. As far as explicit coercion I really doubt that and I doubt it would be even necessary. For many, many reasons politicians are heavily incentivized to just flood the system.

The bank that the landlord owes money to has the real problem, but they are backed by the Fed printing press. So in the end future generations have the real problem, dealing with the debt. But 40M homeless people is everyone's problem. In reality just paying the rent of 40M people is cheaper than anything else, assuming you care about society. Assuming a national average of $1000 per month rent, that's $40B a month, which is chump change compared to what the Fed is printing. Or, you can kick all these people out on the street, and give the money to the banks directly. Of course its 40M people being evicted, not 40M apartments. So these numbers will be closer to $10B a month.

formercoder 6y ago
Banks don’t have much of that risk. MBS holders have the real problem.

rbecker 6y ago

Really a stimulus is just subsidizing inflated rents. And landlords are using the threat of mass homelessness to coerce the government into that subsidy.

steffan 6y ago
That's a simplistic view that doesn't take into account property prices; not every landlord has owned property since the beginning of time, taking advantage of price increases. Imagine a retired teacher who decides to rent out a garage apartment to supplement her pension - is she taking advantage of 'inflated rents' if the rent amount barely covers a proportional amount of the mortgage? Additionally, landlords have to pay 'inflated property taxes', 'inflated utilities', and 'inflated garbage service' - these aren't discretionary costs for a property owner unless you advocate letting people stay in their apartments, but without landlord contributions to water, heat, cooling, garbage.
- nsnick 6y ago
  Retired teachers in San Francisco who own property have either owned it since the beginning of time, or have an incredibly rich spouse.
- rbecker 6y ago
  All your examples are consequences of inflated property prices. When I complained of inflated rents, the complaint over property prices was implied. By subsidizing rents, you also subsidize property prices.
- mercer 6y ago
  Most landlords are not retired teachers who rent out their garage apartment.
googthrowaway42 6y ago
Certainly the fiscal stimulus and monetary stimulus as been inflating the housing and rental markets, there's no question whatsoever. Generally speaking the asset holding class has benefited wildly from all of this stimulus to the detriment of the working and middle class. As far as explicit coercion I really doubt that and I doubt it would be even necessary. For many, many reasons politicians are heavily incentivized to just flood the system.