If you lose your job, do you still have a moral duty to pay your rent on time?

[Ahlevah]

I hope you also feel this way about big multinational corporations, those too big to fail. We bailed them out during the bush administration and now we are going to bail them out again.

With corporate debt at $10 trillion, yeah, I do. Someday we're going to have to get off of this central bank-inspired ZIRP merry-go-round where savers can't earn a decent rate of return. We've inflated assets, particularly bonds and real estate, to the point of ridiculousness. Stocks are a mixed bag. I mean, 0.60% on a 10-year Treasury? Seriously? How are insurers going to pay all of those annuities, or pension funds their promised benefits in the long run? Short answer: they're not. Something has to give. We're starting to see the response in states like California, where municipalities and school districts must allot up to 40% of every dollar in payroll to pension funding. The burden is starting to fall on taxpayers, particularly homeowners through increased "lot assessments" and tax-rate increases.

So what we've done is prop up unproductive assets such as real estate and corporations that long ago should have gone bankrupt through decades of re-inflation. That, I believe, is the greatest reason why our economy's economic growth is stuck in first gear. Too much debt.

The pension gap

 

[phattonez]

Simple economics. They are competing with other rentals in their area. If you increase a cost on all rental property, they will all just pass that shared cost along. That is shown at gas stations all the time. When they all get the same additional cost they all pass it along. In addition, that tax will also apply to homes in the area and increase the cost of owning a home. Due to this increase cost of home ownership, fewer people will be able to buy homes. This will force more people to have to rent making more demand. This increased demand will enable the landlord to make additional increases in rent.

The gas analogy doesn't work because there cost matters to production. If you increase cost you will get less production, which will increase prices. That's not so with homes. The number of new homes relative to current supply is next to nothing. Increasing cost won't change production. It will just decrease demand.

 

[phattonez]

Why are you assuming the renter will die if they are evicted?

Most people have a back up plan and in extreme situations, most people can go live with a family member.

Because a home is a necessity, especially for a family.

 

[phattonez]

Where did you get this idea?

The goods of this world are meant for all, not to be hoarded by some at the expense of others.

 

[BahamaBob]

The gas analogy doesn't work because there cost matters to production. If you increase cost you will get less production, which will increase prices. That's not so with homes. The number of new homes relative to current supply is next to nothing. Increasing cost won't change production. It will just decrease demand.

You are wrong because the demand is fixed. Huge taxes were added to the price of gasoline in California, much of Europe is the same. The taxes are added to the cost of the product. The consumer pays them. In fact gas in California costs about a $1.50 more per gallon than Missouri. That difference is all due to taxes.

 

[phattonez]

You are wrong because the demand is fixed. Huge taxes were added to the price of gasoline in California, much of Europe is the same. The taxes are added to the cost of the product. The consumer pays them. In fact gas in California costs about a $1.50 more per gallon than Missouri. That difference is all due to taxes.

Gas is constantly produced. Homes aren't.

 

[Lursa]

The scary thing is how many people dont have even one month's rent (and other bills) saved.

They are creating many programs and policies for landlords and renters here. Are they based on the knowledge (data) that so many people dont have any savings for this...or assumptions?

 

[BahamaBob]

Gas is constantly produced. Homes aren't.

What difference does that make. At times when the economic conditions cause a slowing in new home construction, the costs of rentals goes up. The population of this country increases by 20 to 30 million every decade. Those people have to live somewhere. If the government injures an industry by pumping up taxes the consequences are felt at many levels. If the government places a tax on building materials, they pass the costs along to the builder who in turn passes it along to the home buyer. That is economics 101.

The big picture is taxes drive up the costs of everything. Taxes aren't eaten by the owners of property, they pass them along to the renter. It is the same with gasoline, food, cars, clothes, building materials, everything.

 

[Lursa]

The Lord demands we give charity. It's not an option.

Maybe our charities are for those who are suffering other things.

If people dont save up at least 2 months rent...who's fault is that? We all know that an emergency can befall anyone, anytime.

If you cant save the money...who made the choices that landed them in that position?

I dont mean the disabled or those who just suffered some other emergency, those are exceptions.

 

[Lursa]

The landlord doesn't lose everything by being out one rent check. Don't argue something so blatantly false.

?? In this crisis, many tenants are in the same situation. Dont make crap up just to fit your argument. That's many missed payments.

And you keep saying you shouldnt die for one missed rent payment...of course not, but why havent you saved up at least one extra payment? Emergencies happen. Esp. if you have kids it's ridiculous to not be more responsible. And if you have never been able to save it up...well that's some poor choices you likely have made unless you are disabled.

 

[gulfman]

No free loaders.Miss 3 payments and out you go.Stop making mortgage payments for three months and see what happens.Don't worry tho.There are plenty of real estate speculators out there waiting for you to stumble.They have plenty of cash on hand when you foreclose or short sale.

 

[Lursa]

No. Equity gains ARE profit. In the end you have a house worth hundreds of thousands. It may not be very liquid, but it's real wealth.

Man you are so bitter and envious it's eating you alive. You dont have to live in the LA area. Altho you refuse to say what it is, I doubt your 'skill set' is only viable there. And if it's not viable where you want to live...who's fault is that?

Humans are adaptable...learn a new trade, move like humans have all thru history, expand your current responsibilities and skills, dont reproduce before you can afford it, etc.

 

[phattonez]

What difference does that make. At times when the economic conditions cause a slowing in new home construction, the costs of rentals goes up. The population of this country increases by 20 to 30 million every decade. Those people have to live somewhere. If the government injures an industry by pumping up taxes the consequences are felt at many levels. If the government places a tax on building materials, they pass the costs along to the builder who in turn passes it along to the home buyer. That is economics 101.

The big picture is taxes drive up the costs of everything. Taxes aren't eaten by the owners of property, they pass them along to the renter. It is the same with gasoline, food, cars, clothes, building materials, everything.

Taxes add a real cost to production to a good that is constantly produced, like toothbrushes. Margins are tight in such a margin and prices are close to costs.

With housing, however, most supply is already built. What property taxes change is not the cost of production, but the cost of holding. And the price of housing is in no way related to production. What is the "cost" to produce an apartment for rent that already exists? There isn't one.

So why is housing such an inefficient market? Because of access. Renters essentially cannot compete with landlords because of regulations that have denied mortgages to those of more modest means and because landlords get advantages that owner occupiers don't get, like tax deductions for repairs and depreciation. What you end up with is a system meant not to house people, but to bilk working Americans and make a whole generation nothing more then indentured servants for older retirees.

 

[Bodi]

What shocking results to this poll...

Yes is the majority?

The government FORCES you to not work and you still have to pay your rent/bills?

It is not like a suggestion... you can be arrested and fined for going to your job, which will not even be open in the first place... and idiots here think that you should still have to pay your rent?

Forced to not make money...
Forced to spend your dwindling money...

FORCED.

:roll:

 

[Bodi]

What difference does that make. At times when the economic conditions cause a slowing in new home construction, the costs of rentals goes up. The population of this country increases by 20 to 30 million every decade. Those people have to live somewhere. If the government injures an industry by pumping up taxes the consequences are felt at many levels. If the government places a tax on building materials, they pass the costs along to the builder who in turn passes it along to the home buyer. That is economics 101.

The big picture is taxes drive up the costs of everything. Taxes aren't eaten by the owners of property, they pass them along to the renter. It is the same with gasoline, food, cars, clothes, building materials, everything.

Maybe our charities are for those who are suffering other things.

If people dont save up at least 2 months rent...who's fault is that? We all know that an emergency can befall anyone, anytime.

If you cant save the money...who made the choices that landed them in that position?

I dont mean the disabled or those who just suffered some other emergency, those are exceptions.

No free loaders.Miss 3 payments and out you go.Stop making mortgage payments for three months and see what happens.Don't worry tho.There are plenty of real estate speculators out there waiting for you to stumble.They have plenty of cash on hand when you foreclose or short sale.

Sounds like a lot of First World No Problems People who have no ****ing idea what the vast majority of hourly and poor people have to live with...

 

[Bodi]

Why are you assuming the renter will die if they are evicted?

Most people have a back up plan and in extreme situations, most people can go live with a family member.

Yes. Most poor people that can not pay their rent have a plan to go and live with other poor family members who can not pay their rent.

****ing brilliant.

 

[lurchadams]

I would say yes, you do, although under the circumstances I think it would be a dick move for a landlord to issue a three-day notice to pay rent or a two-week eviction notice. But, yeah, this is why it is imperative that families set aside funds for emergencies and unforeseen events like this pandemic. You shouldn't demand charity. Living in a private apartment or home owned by someone else isn't a right.

Just like most trump voter's underpants - "Depends"!

 

[elevenangels]

I say NO. lol, this is a double wammy at its best, hallelujah. I can't wait for all of these renters to get evicted, and then find no one to fill the space because 40+ million americans will be out of work. The Landlords took a risk when they bought their rental property, you know that's where the greed is, y'all. hmmm, so this is how it will unfold. Landlord evicts tenants, can't find anyone to fill em, and then the landlords go bankrupt, its just a vicious cirlce. If the landlords accepted only half of the rent to help out the tenant, then it wouldn't be so bad, but the landlords are jacked in credit, with their high quality of lifestyle, that they can't afford to bring the rent down,,,,,, then I step in when houses will be foreclosed for $20,000 cash. If you step in at the right time, then yes there is money to be made, but the housing market is way overpriced. I can't wait to get my hands on a few 1/2 million dollar houses for some cheap cash, and push the greeeeedy landlords on the streets, where they will be hitting the food banks, kick em to the curb sort of speaking, lol. yee haw. I love free enterprise, god bless america.

 

[BahamaBob]

Every person makes life choices. Smart people make choices that make them successful. They learn skills, get an education, don't do drugs or alcohol to excess. They find employment, work hard and live within their means. The other side of the coin are those who think success just happens. They drop out of school, get knocked up, do petty crimes, work enough to eke by and try to stay high.

Every life decision has a consequence. It is those decisions that make you either a winner or a loser.

Winners save and invest. When tough times hit they have the capital to take advantage of the opportunities created. When the crisis is over they are in better shape than when it started. Losers live large. They buy everything on credit. They live hand to mouth, paycheck to paycheck. They think saving and investing is for fools or something you start doing when you get close to retirement age. When tough times hit they go begging, whining and pointing fingers. Losers always are the one's who suffer and envy makes them hate those who aren't.

 

[Mason66]

Yes. Most poor people that can not pay their rent have a plan to go and live with other poor family members who can not pay their rent.

****ing brilliant.

Why do you assume every body else they know are poor?

 

[Lord Tammerlain]

Why do you assume every body else they know are poor?

Knowing someone is different then being close enough to let them stay in your home.

 

[jotathought]

I would say yes, you do, although under the circumstances I think it would be a dick move for a landlord to issue a three-day notice to pay rent or a two-week eviction notice. But, yeah, this is why it is imperative that families set aside funds for emergencies and unforeseen events like this pandemic. You shouldn't demand charity. Living in a private apartment or home owned by someone else isn't a right.

Many landlords and organizations will work with consumers given the national situation and the large number of consumers it is/will be impacting. With that said, this should be a learning opportunity for consumers to think about setting side a small portion of their income as an emergency fund to carry them through these types of circumstances.

 

[cpwill]

Man you are so bitter and envious it's eating you alive. You dont have to live in the LA area.

I've told him that multiple times, but he prefers "Christianity for Thee but not for Me".


Romans 13: 7 Pay to all what is due them—taxes to whom taxes are due, revenue to whom revenue is due, respect to whom respect is due, honor to whom honor is due.


Unfortunately for his approach, early Christianity already dealt with the issue of would-be-free-loaders, and Scripture says not to support them in their sin, but, rather, encourage them to support themselves - with privation, if need be. (2 Thess 3; 1 Tim 5)

 

[cpwill]

What shocking results to this poll...

Yes is the majority?

The government FORCES you to not work and you still have to pay your rent/bills?

It is not like a suggestion... you can be arrested and fined for going to your job, which will not even be open in the first place... and idiots here think that you should still have to pay your rent?

Forced to not make money...
Forced to spend your dwindling money...

FORCED.

:roll:

I suppose that's why most folks are in favor of boosting unemployment benefits to replace those lost wages, along with / and-or the per-capita checks.

 

[Bodi]

Why do you assume every body else they know are poor?

I did not say that everybody was poor... but mostly people from the same demographic know each other and/are family. That said, it is also a medical nightmare... evicting people duringa pandemic and forcing them into other bubbles. The whole thing is stupid. Rent and such should be placed on hiatus as long as mandatory quarantining is in effect.