Rent Moratorium Hurts Immigrants, Minorities, Blue Collar

[Nathan Gesner]

There are so many examples of little investors being smashed by unfair government regulation. They force small businesses to close but keep Walmart and Amazon open. They stop evictions knowing small investors will be crushed while big companies can ride out the wave, apply for loans or grants, and eventually recoup their losses.

I'm seeing so many stories of investors that are self-made immigrants, minorities, single mothers, and more. They save up, invest, and then the government changes the rules and kills them off.

This guy is a perfect example. Government will kill his dreams in an effort to protect renters that may not even by trying to find work and pay their bills.

https://www.nj.com/hudson/2021...

[Nathan Gesner]

Originally posted by @Jeff S.:

@Nathan Gesner hopefully Leslie can bounce back. Time to get a job. At this point he still owns 2 apts. It is good he can lose the losers and be able to keep the ones with paying tenants. I am not sure being highly leveraged is supposed to be part of the American dream but that is another story. 

How do you know he is highly leveraged? A Landlord could have 60% equity but still not be able to afford mortgage payments without rent income.

Having a reserve is highly recommended, but it's unreasonable to expect someone to have a reserve capable of covering an entire year. At any other time in history, these Landlords could get rid of the non-paying renter and put someone else in, even at a low rate that enables them to scrape by. This is not about Landlords investing wisely; it's about a government that is preventing them from operating their business through nonsensical regulation.