Has the Eviction Tsunami started on August 1st?

[Marcus Auerbach]

So the CDC eviction memorandum has ended yesterday and the news and social media are talking about a wave of evictions. I have not seen much of that... What are you guys seeing?

We own and operate a portfolio in the Milwaukee area and we had zero rent losses due to Covid since last summer. It was not totally seemless, we had some issues early on in the first lock down. And once unemplyoment hit we did have a few tenants that were strugeling for a while, but we worked it out with them and with the help of some goverment aid, everyone is fully caught up.

I did notice that when we post a house for rent we get a massive amount of interest and a lot of people are telling us their landlord is selling. The good news is that this is some additional inventory, an opportunity for first time home buyers, or also newinvestors.

I am trying to get a sense for how big of an issue this is. I am working on my next market update video and the data analytics firms I subscribe to don't have a lot on the subject, maybe it's just to soon. So what do you guys see?

I would be interested to also see some comments from markets outside the midwest, like San Francisco, Los Angeles, Houston or Boston and New York!