But the big mortgage companies were allowed to continue to collect mortgages!
And the governments are still allowed to collect property taxes!
I don't make any money from my rental unit it just helps cover property tax insurance and my mortgage.
But I've been shouldering all of that and my tenant has been living for free for over eight months.
How is that remotely fair?
Gotta give it to the elites: they know how to manipulate things.
That doesn't hurt the rich who have all their funds parked in assets and investments.
That hurts people who deal in cash which is....the non-rich.
The inequality will continue to grow and the ignorant will continue to believe the news media like religion.
Property taxes and insurance.
It's literally thousands of dollars yearly yet adds zero dollars to a properties worth and increases as fast as property values go up as they're indexed to property values.
It may not be fair, but it's the definition of a bad investment.
Unless you're housing someone at cost out of the kindness of your own heart, in which case, that's awesome.
It's not a bad investment to cover the thousands of dollars that are required annually to maintain a house including property tax and insurance for the house simply existing.
And now the government is telling me I can't collect the income they require me to give them.
The government is telling you that as a provider of homes to people, you cannot make them homeless during a global pandemic. This seems entirely reasonable and recalibrates the idea that properties are primarily homes, where people live, and not investments.
The government didn't tell the mortgage companies that.
And the govt didn't stop collecting taxes.
Call me crazy but expecting the landlord to care while the govt and mortgage companies don't have to care... thats not fair.
In either case, it might still be a good _investment_ if the value of their equity appreciates - but as the other commenter notes, that's a very risky and inefficient way to get exposure to real estate prices!
Of course, investing in real estate can be considered thrifty, but the gap between those owning and those not is growing bigger every year. It's not sustainable.
The government changed the rules of the game and left landlords with the bill. That’s the problem.
Yes, the poster is taking the risk that they tenants cannot pay, but they also took that risk with the assumption they could evict them and replace them with a paying tenant.
If the government has the power to ban dining there is no longer a free market or a free country.
It's why so many people are moving to Texas. They understand the wisdom of small government.
I'm not saying risk is not present but when the government can destroy a small businesses ability to make money with the snap of a finger like that but the big mortgage companies are still allowed to operate as business as usual and the government is allowed to continue to collect property tax as usual...
You're literally supporting the transfer of wealth to the big corporations from small businesses.
If you don't see something wrong with that then there's not really hope in talking to you.
They forbade evictions - not collecting rent. I don't think most people stopped paying their rent if they were able to.