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New York City Renters Owe More Than $1B in Unpaid Rent
- uptown 6y ago"That's just for the 50% of NYC tenants in rent stabilized units—overall, the city's tenants are about $2 billion in debt" https://twitter.com/harrysiegel/status/1349805120318566402 https://twitter.com/harrysiegel/status/1349805120318566402
- ndiscussion 6y agoWow, from TFA, an average $6,000 per case. Something big is coming.
- dkdk8283 6y agoWe’re seeing the true cost of lockdowns here.
- CamelCaseName 6y agoQuite the opposite, we're seeing the true cost of "lockdowns" here.
- toomuchtodo 6y agoPersonal bankruptcies, as far as the eye can see. Worse, many landlords won’t rent to someone with an eviction on their public record. I would expect far more federal fiscal policy support will be necessary, far beyond the $1.9 trillion bill Biden proposed this evening.
- greenyoda 6y agoArchive: https://archive.is/P3zDE https://archive.is/P3zDE
- deleted 6y ago[deleted]
- robbyt 6y agoAnd all those landlords are looking forward to a nice federal bailout.
- deleted 6y ago[deleted]
- llampx 6y ago"Real estate is basically a risk-free investment"
- snypher 6y agoYou imply they're not going to get their money.
- kylebenzle 6y agoNot if we all plan on filing for bankruptcy.
- rasz 6y agoIt actually is. All properties are owned by Banks until loans get paid off. You pay for loans with rent. You are just a middleman between two groups of suckers.
- llampx 6y agoMind blown. That is actually true. Of course, even banks don't get to have completely risk-free investments when they give out a mortgage loan, but its close enough, especially when central banks are driving interest rates into the dirt, driving up the price of real estate and reducing the amount of interest the bank has to pay.
- eznzt 6y agorubs hands
- rasz 6y agoIn other news commercial rents are going up https://www.youtube.com/watch?v=QD0fpvDQs88 https://www.youtube.com/watch?v=QD0fpvDQs88