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Weekly Digs NEWSLETTER -- Is an “Eviction Tsunami” looming in 2021?
- ethanwillis 6y agoSimply, Yes.
- strawberrypuree 6y agoWhy do you think so? The article comes to the opposite conclusion.
- ethanwillis 6y agoThere are a few things people make sure they have paid first. Rent is at the top of that list. However, if they're behind, continue to be behind, and can't find employment with an economy contraction... they're not going to catch up. That $2,000 they're behind right now will balloon and become an eviction.
- TuringNYC 6y agoEither or -- 1. An eviction tsunami or 2. A foreclosure tsunami as "landlords" renting out their lower unit/extra room cannot make their mortgage. Note that just as there is a moratorium (in some cases) for rent, there is also one on mortgages (in some cases). Except the rent will probably never be paid once it is backed up enough, but the mortgage is still going to be due eventually. Secondly, there is also the carry of properties besides mortgages (property taxes, heating, maintenance.)
- shiftpgdn 6y agoActual article link: https://sparkrental.com/eviction-crisis/ https://sparkrental.com/eviction-crisis/ OP appears to own theweeklydigs.com and is likely using this post to promote a newsletter: https://news.ycombinator.com/item?id=21377581 https://news.ycombinator.com/item?id=21377581
- dredmorbius 6y agoI've emailed mods. Good catch.
- AWildC182 6y agoYea I call bullshit. The actual article is on a rental blog pushing passive income and is just throwing around a bunch of misleading numbers while hand waving violently. This isn't analysis, it's just content farming.
- cpow85 6y agoSorry, I don't actually mean to mislead. Should I remove and re-post with a different title?
- cpow85 6y agoPrepended this with a more informative title. This is an aggregate newsletter which I think is helpful if you're in the property management / real estate business. Hopefully this new title is a bit more informative, apologies for any misleading
- dredmorbius 6y agoYou should 1) follow submission guidelines as to providing original links and 2) not aggressively promote your own domains and projects. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- frockington1 6y agoIf the government shuts down the economy again its very likely. Thankfully the government is also printing money so real asset prices will only rise. Will be able to make up for lost rent quickly as prices rise
- ethanwillis 6y agoWho will be able to make up for lost rent? I don't think it will be tenants.
- frockington1 6y agoThe landlords. As long as the government keeps devaluing the dollar, landlords should be safe and the housing supply shouldn't shrink too much. If rates rise, we may end up with a lot of empty buildings
- _iyig 6y ago> Thankfully the government is also printing money so real asset prices will only rise. Will be able to make up for lost rent quickly as prices rise Could you elaborate on this? I don’t follow
- shawabawa3 6y agoLandlords will have increased equity in their buildings which will offset any rent arrears so will continue to enjoy the government supported risk-free rental income as they always have Tenants will likely be shafted
- sparrish 6y agoIncreased equity doesn't pay the mortgage. So they have to sell to realize that 'increase' to offset their rent losses. Everybody sells - prices go down - landlords lose out as well. Nobody is winning here.
- frockington1 6y ago
- binarymax 6y agoNB: the article is written by a startup looking to help would-be landlords get into the rental business and ditch their day jobs...so take this bias into any conclusions purported in the article.
- dredmorbius 6y agoQuite: "Build Rental Income. Automate It. Replace Your Salary." https://sparkrental.com https://sparkrental.com
- abfan1127 6y agoI don't see how there won't be. With so many unemployed and so much unpaid rent. I find it hard to believe that landlords won't try and recoop those lost rents. Short of interesting payment plans, which don't work for the unemployed, they still have property taxes, property up-keep, loans, paychecks for themselves to manage.
- BurningFrog 6y agoBig picture, there will be as many housing units and as many people in 2021 as in 2019. Landlord won't evict people, unless they know they can get new, better tenants. So, if 2020 made us poorer, I'd expect lowered rents rather than fewer people housed.
- frockington1 6y agoRents will likely increase as housing assets have risen across the country. Tenants will continue to get shafted as long as interest rates remain low
- toiletfuneral 6y agoUhhhh have you ever met a landlord? Also I have never seen rents fall in my lifetime. I’ve seen rates of growth slow, but never seen prices actually drop.