US Progressive Democrats want to cancel rent and mortgage payments for the length of the pandemic - Progressives come up with another idea that sounds nice on paper but wouldn't work well in the real world

https://www.businessinsider.in/policy/economy/news/progressive-democrats-want-to-cancel-rent-and-mortgage-payments-for-the-length-of-the-pandemic/articleshow/81471503.cms

https://archive.is/mbGEz

• Democrats introduced a bill to cancel rent and mortgage payments for the duration of COVID-19.
• The bill would help the 12 million Americans who owe $6,000 in average on back rent.
• Lawmakers say the homeowner aid in Biden's stimulus plan isn't enough to help struggling Americans.

Although vaccine distribution is ramping up across the country, the Covid-19 pandemic isn't over, and Americans are still facing financial hardships. And while moratoriums on evictions and foreclosures have been instituted and repeatedly extended, progressive House Democrats want the government to do more.

They want to ease the burden on renters and homeowners by cancelling rent and mortgage payments for the duration of the pandemic.

Rep. Ilhan Omar of Minnesota introduced the Rent and Mortgage Cancellation Act on Thursday, which would cancel rent and mortgage payments nationwide through the end of the pandemic. The bill would ensure no negative impact on landlords' and homeowners' credit ratings and rental histories, and would establish a relief fund for landlords and mortgage holders to cover the losses of cancelled payments.

Although President Joe Biden extended previous moratoriums on foreclosures and evictions, Omar said in a statement that those are not long-term solutions.
"People across this country will be forced to pay tens of thousands of dollars in back rent when it ends," Omar said. "In some cases, local governments are allowing evictions to continue despite the moratorium. In other cases, landlords are going bankrupt due to lack of income. To avoid an even larger crisis, we must cancel rent and mortgage payments during this pandemic. This isn't a radical idea. It's what is needed to prevent an even bigger crisis."

12 million Americans currently owe $6,000 on average in back-rent, Omar said during a press conference on Thursday, and according to the nonpartisan Center on Budget and Policy Priorities, one in five renters is behind on rent, and since the pandemic began, over 10 million Americans have fallen behind on mortgage payments.

---

According to a legislative summary, main elements of the bill include:

• All rent and mortgage holders are eligible for the payment cancellation, regardless of income or payment level;
• The suspension would last one month after the end of the national emergency declared on March 13, 2020;
• Fines would be imposed on property owners who violate the conditions of the payment suspension;
• And the Dept. of Housing and Urban Development will establish three funds:
  • A landlord relief fund for the government to cover the expenses of the suspended payments;
  • A lender relief fund for mortgage holders;
  • And an affordable housing acquisition fund to ensure tenants have access to safe housing conditions regardless of a landlord's ability to pay for maintenance during and after the pandemic.

The $1.9 trillion stimulus plan that President Joe Biden signed into law on Thursday included more than $20 billion in emergency rental assistance, $10 billion for homeowners behind on mortgage payments, and $5 billion for homelessness assistance. Rep. Pramila Jayapal of Washington - a cosponsor of the legislation - said in a statement that with the 40 million Americans struggling to maintain their housing and the eight million who have been pushed into poverty, the government needs to step up.


She said: "It is not enough to sit back and just hope that a patchwork of eviction moratoriums keep families in their homes; we must cancel rent and mortgage payments during this crisis because housing is a human right - during a pandemic and always."

Ah yes, screwing over landlords. I'm sure this would be great for the economy.

 

[Zero Day Defense]

They explicitly say there's going to be a landlord relief fund to cover the lost income and you kyke faggots still be crying over the poor oppressed slumlords.

Not every landlord is some rich weirdo from the UAE or wherever the heck, you empty gas canister.

 

[Full Race Replay]

not taxes tho, cuz fuck ur landlord, but we need our money.

 

[DuckofDoom]

The bill also includes a taxpayer funded "buyout fund" for government and (leftist approved) non-profit groups to purchase properties from bankrupt landlords.

https://www.dailywire.com/news/rep-ilhan-omar-reintroduces-rent-and-mortgage-cancellation-act

Sounds like just a roundabout way of establishing soviet-style gov't run housing.

 

[Secret Asshole]

Just do what China did when their economy was about to tank: Freeze the stock market, point AKs at the trader's heads, disappear billionaires who don't listen and seize all their assets. Then when the bad wave passes, just unfreeze the market.

 

[FAQnews Correspondent]

Just do what China did when their economy was about to tank: Freeze the stock market, point AKs at the trader's heads, disappear billionaires who don't listen and seize all their assets. Then when the bad wave passes, just unfreeze the market.

This is America, and nobody does this sort of communist activity. They'd point AR-15s at the traders heads.

 

[LaxerBRO]

They explicitly say there's going to be a landlord relief fund to cover the lost income and you kyke faggots still be crying over the poor oppressed slumlords.

Here is the fine print:

Basically just give the government control of your house and become it's bitch.

(A) RENT FREEZE.—The monthly rent for
14 the dwelling unit may not be increased from the amount of such rent charged as of the date of the enactment of this Act.

(D) NEW VACANCIES.—The lessor shall co-ordinate with the public and other housing auhorities for the jurisdiction within which the
dwelling unit is located to make the dwelling
unit available, upon any vacancy, to householdss assistedas described in subparagraph (C).

(E) ADMISSIONS RESTRICTIONS.—The lessor may not restrict tenancy of the dwelling
unit on the basis of sexual identity or orienta-
tion, gender identity or expression, conviction or a arrestrecord, credit history, or immigration
status.

 

[ShortBusDriver]

So, the feds are gonna pay the landlords for their lost rent and mortgage?

They'll promise it but it won't happen and if it does it won't be timely.

Remember Cash for Clunkers?

It took over 2 years for the Feds to reimburse the dealerships for vehicles sold.

 

[Jimjamflimflam]

you kyke faggots

Language! We dont appreciate words like this.

It's kike, you faggot.

 

[HarblMcDavid]

Here's the thing...I agree that this will have disastrous consequences if they do it.

Simultaneously, the entire fucking set of laws and rules passed during the pandemic are a big gigantic government taking. There really isn't any way around that.

I find it a particularly obnoxious rock, hard place, and spike trap that Dems passed all these laws to create this strife to necessitate bailing out the people they fucked with their goddamn policies which would necessitate printing MORE money. Which will then tank the value of the bailout and so on and so forth.

 

[FAQnews Correspondent]

conviction or a arrestrecord, credit history

There it is. NYC among others will become a giant slum as properties fall into disrepair or abandonment.

Call me optimistic, but this sounds like this would impact only the blue states with harsh lockdowns. Oh wait, then they'll metastisize elsewhere.

 

[Meat Target]

Here is the fine print:

The lessor may not restrict tenancy of the dwelling unit on the basis of sexual identity or orientation, gender identity or expression

Okay, I'm pretty sure the Fair Housing Act already prohibits that...

conviction or arrest record, credit history, or immigration status.

....No. Just. No. This is an unreasonable demand. Landlords have the right to not let their property become flophouses and meth dens.

 

[Marissa Moira]

....No. Just. No. This is an unreasonable demand. Landlords have the right to not let their property become flophouses and meth dens.

You're describing section 8 housing.

 

[Screw Danlon]

So, I’ve been paying my rent for the last year... does that mean I get my money back?

Or does this only go to the people that they already screwed over?

 

[TaterFarmer]

So how long before Landlords get desprete and start doing stupid shit, it's already happened in New York where a Landlord kidnapped his tenant who wasn't paying.

https://newyork.cbslocal.com/2021/03/02/albany-landlord-kidnapping/

When people get desperate they do stupid shit, things are gonna get a little more crazy regardless but adding that? lol

And, you know that instead of thinking "this person is dangerous, I'm going to move" they just sat there bitching about it. The landlord needs to install a small herd of pigs in their backyard or the apartment next door. They'll see the light.

They explicitly say there's going to be a landlord relief fund to cover the lost income and you kyke faggots still be crying over the poor oppressed slumlords.

In Commifornia, they're only covering 80% if landlord losses and that's ONLY if the landlords agree to some pretty onerous conditions and terms.

Landlords have the right to not let their property become flophouses and meth dens.

HA! I know someone who thought they'd become landlord "rich" and busted his ass buying and fixing up rentals. Then the DEA busted a "tenant" who was dealing drugs from his house. It took him over a year to wrangle that house back from the DEA and prove that he had NO IDEA that the drug trafficking was going on in there. If he hadn't been a very involved member of his church, his house would have likely been auctioned off as part of the proceeds from a drug bust. After that, he sold all his houses because it was way too much stress for him to deal with.

 

[Sithis]

At this point I'm convinced that "The Squad" is either actively working to collapse the nation economically, or that they all grew up playing monopoly with their mothers who drank heavily during pregnancy. It's as if they think money is just some arbitrary concept that you can get more of any time you pass "go".

There is no way in hell this wouldn't tip us over into full blown economic collapse. The house of cards is already about to fall over - 2008 gave us the housing/lending bubbles that crashed everything, now we have plenty of other factors weighing in as well.

 

[Lone MacReady]

Next thing is that they introduce turds as a new currency.

Our currency already IS shit, and isn't True Money. It has been literal unbacked Notes of Debt since 1971 when that cunt Nixon took the dollar (and thus the world) off of Gold backing. Even then the endgame was in the works since 1913. Coming up, even shittier currency with Negative rates to force you to CONSOOM, via CBDC. CBDC standing for Central Bank Digital Currency, the actual Mark of the Beast, total and complete control over your "money" and ability to interact with the economy.

 

[Strange Looking Dog]

They explicitly say there's going to be a landlord relief fund to cover the lost income and you kyke faggots still be crying over the poor oppressed slumlords.

And who is that money going to come from? Look a little deeper next time and realize that this is unsustainable.
Endless passing of the cost helps no one but the taxman.

 

[Foxxo]

They explicitly say there's going to be a landlord relief fund to cover the lost income and you kyke faggots still be crying over the poor oppressed slumlords.

Most people here are complaining about how it'll destroy everyone else. Nice try though.

 

[HumanHive]

The bill also includes a taxpayer funded "buyout fund" for government and (leftist approved) non-profit groups to purchase properties from bankrupt landlords.

https://www.dailywire.com/news/rep-ilhan-omar-reintroduces-rent-and-mortgage-cancellation-act

Sounds like just a roundabout way of establishing soviet-style gov't run housing.

Nationalizing low income housing was always the plan. After that it’ll be “non-luxury” food.

 

[AnotherPleb]

Another day, another democrat punishing people for being responsible adults.