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If Landlords Get Wiped Out, Wall Street Wins, Not Renters


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https://www.bloomberg.com/news/articles/2020-05-12/if-landlords-get-wiped-out-wall-street-wins-not-renters

Nobody’s bailing out Connecticut landlord Maribeth Shields.

 
 

More than half of the tenants in the 27 low-income apartments she owns in the city of West Haven and its vicinity aren’t paying and there’s nothing she can do about it. The state banned evictions until July and allowed tenants hurt by the pandemic to defer with no penalty

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She has 1.2 million dollars in mortgages she can't pay and only made a profit of 24,000 USD last year?

I can understand why she looks so depressed - as her non paying tenants have better cars, better nails and less stress.

Of course the tenants who are paying will suffer just as badly as those who aren't if she gets foreclosed.

Edited by MARTINX9
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I highly recommend  this lecture by Peter Schiff from 2009. He tells some excellent anecdotes on the dot com bubble and housing bubble in California and Connecticut. He makes many good points that are relevant to the housing bubble here IMO.

 

 

Edited by Warlord
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  • 418 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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