Impacts of Lifting Eviction Moratoriums?

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Barefootgirl
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Impacts of Lifting Eviction Moratoriums?

Post by Barefootgirl »

Any thoughts on the market/economic/related impacts of the lifting of eviction moratoriums?

I've never recalled this event in American history - so curious as to how it could play out?

Thanks
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rockstar
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Re: Impacts of Lifting Eviction Moratoriums?

Post by rockstar »

My expectation is that foreclosures will go up and housing supply will go up.
barberakb
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Re: Impacts of Lifting Eviction Moratoriums?

Post by barberakb »

supply of housing will go up, home prices will go down but rent prices might go up
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celia
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Re: Impacts of Lifting Eviction Moratoriums?

Post by celia »

I think the majority of those who can no longer pay rent will try to find someone else to move in with and share the costs. We would have more multi-generational households, which I think is good for society (grandparents sitting with grandkids while parents work, while keeping an eye on the elderly). Eventually this would become "the norm" rather than having elderly live alone. It will save money for all involved but would put a strain on relationships for a while.

Some people will choose to sleep in their vehicles instead and we may need more overnight parking lots for them with cooking facilities, toilets and showers nearby with basic security. (Here's an idea to start a small business or non-profit!)

The homeless who were housed during the pandemic (to help keep it from spreading) will likely return to being homeless.
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Sandtrap
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Re: Impacts of Lifting Eviction Moratoriums?

Post by Sandtrap »

I know a number of owners of apartment buildings that are selling and getting out of the business entirely.

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badger42
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Re: Impacts of Lifting Eviction Moratoriums?

Post by badger42 »

Locally, a number of landlords are taking advantage of high single family home prices to sell off all of their single family rentals (which are going to be owner occupied). Given current price/rent ratios, I don't expect this trend to reverse anytime soon.
Nebraska_Drought
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Re: Impacts of Lifting Eviction Moratoriums?

Post by Nebraska_Drought »

Sandtrap wrote: ↑Mon Apr 19, 2021 10:25 am I know a number of owners of apartment buildings that are selling and getting out of the business entirely.

j🌺
The same. I know people who were into rentals for 20-30 years now getting out. Several sold and got into buying ag land to cash rent out. It will be interesting to see how it plays out, and as always, some parts of the country will be impacted more than others. I do agree that more houses will open up on the market, taking some of the flame away from the hot markets around the country. I also seeing rents being adjusted, but that is a guess more than anything.
hi_there
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Re: Impacts of Lifting Eviction Moratoriums?

Post by hi_there »

There will probably be a drop in consumer spending or even GME type of stock speculation, as people who are backdated on rent and mortgages will have to fulfill those expenses in earnest.
ballons
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Re: Impacts of Lifting Eviction Moratoriums?

Post by ballons »

What moratorium? Evictions started last summer and have been steady. After the eviction, the landlord slaps paint on it and sells in less than a week for double what they paid.

Impacts are there are less than 20 non-apartments for rent in a 150sq mile area each month. Apartment rents are insane and completely not affordable.
manuvns
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Re: Impacts of Lifting Eviction Moratoriums?

Post by manuvns »

not much deadbeats will get pushed out of town and rents will go up , not sure about real estate prices though it may go down if there are many houses on the market which i think will not happen .
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alex_686
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Re: Impacts of Lifting Eviction Moratoriums?

Post by alex_686 »

hi_there wrote: ↑Mon Apr 19, 2021 11:16 am There will probably be a drop in consumer spending or even GME type of stock speculation, as people who are backdated on rent and mortgages will have to fulfill those expenses in earnest.
From everything that I have read consumer spending will be spiking. Maybe even causing inflation.

Lower income families' income have been supplemented that to the large government intervention. When COVID restrictions end they will shift back into employment and continue spending. They basically spending all of their cash inflows.

Higher income families have reduced consumption and increased savings. But they have also delayed many big ticket items. That should surge after COVID restrictions are ended.

This says little about rent and mortgage moratoriums. I suspect that fixing the mortgage moratoriums will be complex, messy, and time consuming. But from what I have been reading most of the impact is going to fall on the banks. I don't know about renters. I am going to guess that a fair amount are going to land on the landlords. After all, the renters can always declare bankruptcy. Can't squeezy blood out of a rock.
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