Census Bureau: 3.8 Million Americans Will Likely Be Evicted in Next Two Months #BidenEffect
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The article doesn't state the obvious reasons for the rent increases. TAXES and INSURANCE RATES are increasing costs to landlords, in addition to costs of maintenance (labor and materials) are increasing.
In my area of NE Houston, housing taxes (county, school district and utilities district) have increased by about 50% over the past 2-years. For a decent size rental house, the cost in taxes went from (for example) $6,000 per year up to now being $9,000 per year. Increase of $3,000 per year in taxes = $250 per month increase in rent cost.
Property Insurance also went up by about $200 per month. Cost of basic maintenance (labor and materials) easily increased by about $150 per month for just basic repairs and upkeep.
All totaled, it's not a landlord's fault that rental prices increase by $600 per month over the past 2-years. That's life. That's just keeping up with expenses.
If the cities or counties want rental prices to stop increasing... then STOP INCREASING TAXES. That would help.
Taxes are being raised due to INFLATION - which is properly defined as the cabal artificially increasing the money supply - which is the ULTIMATE TAX.
Inflation is LEGAL (but not LAWFUL) THEFT.
And there are 4.8 new illegals who will be getting vouchers to occupy those properties. A.k.a. - Their new barracks.
It's about to get real very soon.
More here. https://www.thegatewaypundit.com/2022/08/census-bureau-3-8-million-americans-will-likely-evicted-next-two-months-bideneffect/
We used to get $25-100/mo increases but this last lease renewal period the smallest was $300/mo with the largest $800/mo (that I know of - it's a 300 unit complex so I don't know all my neighbors.)
Context? What’s the “normal” number?
Iceman 80, If only it was just more fearporn. I'm going to be facing eviction in the very near future so it's pretty fucking real for me and my two kids. Any one know of an affordable place in the outskirts of Boston?
I have 21 rentals. I have not raised rents since the pandemic started. Nearly every one of them is behind on rent - some in the thousands with around 50k in owed rents during a period where I should collect 150K with around 50K in expenses. My point is that it is not sustainable. If I had any mortgages on these properties, I'd already be done.
The truth is that there are government programs that people are competing for to get free rent. All of the people have heard of their peers getting the free rent, and now, they want their fair share. The problem is that they must be 3 or more months behind or facing eviction to qualify. I wonder what that will cause them to do.
I tell them up front that I do not accept or participate in those government programs. A lot of other landlords are doing the same thing. We see what it is doing.
Fear porn. It never ends.