Don't Pay Rent in 2021! (Script & Sources)
Added 2021-05-12 18:11:35 +0000 UTCGood morning, good news!
The CDC has extended the federal eviction moratorium until the end of June, meaning that if you qualify, your landlord can’t evict you for nonpayment of rent.
With over 10 million people behind on their rent, and more than 5 million at risk of eviction or foreclosure - this moratorium is literally the only thing keeping the economy and the housing market from an unprecedented market collapse. In fact, the single biggest insider trading position that a person could have in 2021, is knowing when the eviction moratorium will actually expire.
Because it’s important to understand that the moratorium doesn’t mean you don’t owe rent, it just means it’s accumulating as unpaid debt to your landlord. So when the moratorium is lifted, renters are going to owe tens of thousands of dollars to their landlords, and since unemployment is at 6% with 10 million people still out of work, most renters won’t pay back their landlords, and landlords won’t be able to pay their mortgages, so millions of people will be evicted, millions of homes will be foreclosed on, and the housing market will be flooded with empty properties, which will crash the market overnight.
But this is a “good news” episode of good morning bad news, so the good news is that if by the end of 2021 you’ve managed to avoid losing your job, being evicted, or filing for bankruptcy because of unpaid rent, - then when the housing market crashes, you might actually be able to buy a house.
The bad news is that those things probably don’t apply to anyone who wasn’t already rich and stayed rich throughout the pandemic. So realistically all the cheap property that’ll be lost by older middle-class homeowners will be bought by billionaire real estate firms, turned into overpriced rentals, and increase wealth inequality by another 1000% while the entire middle and lower class becomes homeless. Good luck!
