re: What will happen when millions are unable to pay rent/mortgage?

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tennet

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finding good tenents is a PITA.

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Is it harder than finding tenants?

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When has Government ever helped someone? That isn't its role.

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You can't be this stupid, can you?

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It's ok to care about another human beings wellbeing and not be a complete dick.

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What is his preference? That the banks take possession of everyone's homes?

Everyone knows the time for Ayn Rand platitudes is when government is the entity stopping someone from making an income. Hurr durr sink or swim.

Hopefully what happens is society decides it is better to return to work and life than shelter in place because the old and sick need to be quarantined.

I am close to being willing to return to normal just one more week of Covid 19 doing what it has been will give me the assurance that this is not the plague 2.0.

The old and sick need to self quarantine and let the rest of us go back to normal.

If it gets bad enough, and it realistically could, you're talking about it affecting not just folks that live check to check, it will end up severely affecting the middle class, you're talking about the folks on here who believe they've set enough aside, once they dip into those emergency funds and keep doing so without income coming in, what do you think happens?

What happens to the guy couple who work damn hard but encounter layoffs and aren't able to find jobs for a long while.

In this case, jobs will not be plentiful and jobs won't come back for a while.

But I forget, this is the OT where everyone has 10 years worth of living saved up and are not at risk of losing their jobs, even with these extenuating circumstances lying in wake.

The lack of compassion here not for the common man is really not all that surprising here.

Even in an unprecedented situation, it's still business as usual for the dickbags here.

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Burn down the rental house with the deadbeats in it, the rest will pay up.

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Deadbeats? Because they can't work since the government has shut down everything but the essentials?

You're fricking retarded.

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People are naive if they think millions of Americans will sit at home broke and bored to quarantine

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Millennials can do it indefinitely provided Snapchat/IG keeps updating their quarantine/stay home filters.

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other is a stripper

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There are ways to get paid.

Here's what will happen:

We have some rental properties in Nashville. I think you'll find right now it will boil down to capacity to pay. Those temporarily impacted may be offered options from waiving late fees to some offering free rent. Will they ever have to pay it back, that'll be negotiable, or the property owner may never see payment.

Second, you now cannot evict someone here for non payment, so the tenant is protected. Tenants who can't afford rent due to COVID-19 won't be evicted. There will be no provision for back rent payment unless the tenant has the capacity or they're able/willing to work something out with the property owner.

As the property owner, on our end, banks are likely to allow customers to defer mortgage payments for up to six months.

Difference is the difference between "defer" and "forgive". We'll have to end up paying. Tenants, I doubt.

We've had great tenants for years, some that are elderly. We've charged below market rents and not raised them very much. We only have a few, and we're not corporate overlords, but this will impact us significantly as well.