Covid Eviction Wave in Sept? As many 23 million - Omar's Solution

[Account Closed]

The Hill  By Brooke Seipel - 07/13/20 07:42 PM EDT Analysis: 23 million families could face eviction by October due to pandemic

CBS News reported Monday that a study from the COVID-19 Eviction Defense Project estimates between 19 million and 23 million renting families nationwide could be at risk of losing their homes by September 30.

"There are already 12,000 eviction cases pending in Virginia and another
10,000 cases prepared in North Carolina, two states that saw their
eviction moratoriums end in June."

Rep. Ilhan Omar's solution: She’s called for lawmakers to cancel rent and mortgage payments entirely

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It all seems sensationalized to me. It's an election year and it will get crazier the closer we get to the election.

[Greg M.]

Originally posted by @Account Closed:

You really want to discount appreciation, one of the three main wealth drivers in real estate, as a "feel good" argument just because what goes up can also come down? Well, there is no guarantee that the other wealth drivers will continue either. 

And there most certainly are things you can do with appreciation. It's not some mythical thing that is stuck there. You can borrow against it. You can refinance and take the cash out. You can sell the place. You can use it to buy more places. You can retire on it.

As for the argument that you pay a lot of it to an agent when you go to sell, I love that. I'm sorry, but that sounds like the old Jewish housewife joke. Husband says to wife: We just won the lottery! Wife screams: OH. MY. GOD. THE TAXES!!!!