Updated almost 5 years ago on . Most recent reply
Multi Family Meltdown
Millions of Americans unable to pay rent during the pandemic.So many in financial burden that threatens to deplete their savings Some government action is protecting many, but not enough.Hey, my crystal ball is in the shop but I do have common sense.I speak to investors from the small fish to whales.The ones that own Multi-Family (including myself)... its ugly.It could take renters (especially low-income) years to recover. Yikes....regardless "iF" the rest of the economy begins to bounce back. if they say tenants can pay [missed rent] back in two or three years...That’s capital most just wont have after losing a job.Its a sad situation, owners are surfacing to get out of this mess!Debt threatens renters in several ways. - Some have kept up with their rent payments but turned to credit cards - High-interest loans are destroying them- Others owe mounting bills directly to landlords that must be paid back - Eviction moratoriums expire, then what?
