Updated about 5 years ago on . Most recent reply
- Real Estate Broker
- Cody, WY
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Rent Moratorium Hurts Immigrants, Minorities, Blue Collar
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.
- Nathan Gesner
Most Popular Reply
Just horrible and a very real problem. WSJ did a story and video on this last year:
In NJ, where he holds- There has been a huge shift out of the Urban areas and their immediate surroundings. Which explains the 1-2 punch of no rent and vacancies. There is also a HUGE demand among institutional investors to get these distressed properties and add them to their balance sheets, putting pressure on banks and courts to mercilessly foreclose.
I am tempted to speculate on his business model- having missed a mortgage payment in March 2020, but I won't go there.