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.

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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.

 

[Erika Furudo]

I cannot even calculate how damaging this would be. Cities would go bankrupt due to lack of property tax. Small banks would fail and the government would have to pay out FDIC-backed payments, making our insane deficit even worse. Anyone with more than 250,000 in the bank would end up losing anything above that. There'd be a huge property sell-off, much of it being snatched up by foreign investors, greatly exacerbating just about every economic problem in the country.

Ilhan Omar must have an IQ of 70. And the morons who live in her district have to be even dumber than her to think she's worthy of her position.

Leftists don't understand economics, and when you push them they ultimately say the economy doesn't matter. Just tax Jeff Bezoz 95% every year, it's totally sustainable.

 

[round robin]

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.

I know better than to respond to you but I wanna play this out. The article makes no mention of when this landlord relief fund would be made available. Would it pay out at the end of the pandemic when landlords have tallied up all of their losses? What are they supposed to do until then?

And when does this period end? We have received no word on when the pandemic is actually supposed to end and this bill proposal comes right on the tail end of "experts" telling us it will never actually end.

Luckily there is a 0% chance of this bill passing as there are tons of democrat landlords and they would never vote against their own interests.

 

[Dyn]

I know better than to respond to you but I wanna play this out. The article makes no mention of when this landlord relief fund would be made available. Would it pay out at the end of the pandemic when landlords have tallied up all of their losses? What are they supposed to do until then?

Well I dunno, maybe they'll have to stop being parasites and get real jobs for a while.

 

[Echo_Ender]

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

I know that more than a few landlords have been honestly saying "It'd be best if my rental properties burned down at this point. I'd get an insurance payoff and would just keep the money instead of rebuilding it for tennants who are never gonna pay rent"

 

[💗Freddie Freaker💗]

Well I dunno, maybe they'll have to stop being parasites and get real jobs for a while.

Good joke. The job market is abysmal, everyone has trouble getting hired these days thanks to da virus.

 

[WonderWino]

What about Trump?!

REEEEEEEEEEEEEEE

Twist ending: this is all a 4d chess move by trump to make all the landlords in the US bankrupt and forcing them to sell all their properties.....which he then immediately buys up and ends up owning the homes of all the people who voted against him and forcing them to pay him money every month to live there, just to piss them off eternally

 

[TaterFarmer]

The job market is abysmal, everyone has trouble getting hired these days thanks to da virus.

??? In my area, grocery stores are paying new hire bonuses between $500 and $1000 for certain positions and they have tons of positions open and are even hiring 16yo and up.

 

[round robin]

Well I dunno, maybe they'll have to stop being parasites and get real jobs for a while.

Who is this supposed to be a parody of?

 

[💗Freddie Freaker💗]

Who is this supposed to be a parody of?

Antifa and the far left in general, it's a common refrain.

 

[Vyse Inglebard]

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

No fucking kidding. If this bill passes (WHICH IT WON'T), I'll have stored up all this good credit for absolutely fucking nothin', because YOU DUN NEED IT TO GET A HAWSE ANYMUAH LOL. Get me off of this goddamn planet.

 

[pwnest injun]

If they pass this, I'm going to keep paying my bills in protest!!

 

[tehpope]

Does this legislation define the conditions when the pandemic is consider over? Because if it doesn't or its vague as all hell, they'll just keep this law going forever and ever.

I cannot even calculate how damaging this would be. Cities would go bankrupt due to lack of property tax. Small banks would fail and the government would have to pay out FDIC-backed payments, making our insane deficit even worse. Anyone with more than 250,000 in the bank would end up losing anything above that. There'd be a huge property sell-off, much of it being snatched up by foreign investors, greatly exacerbating just about every economic problem in the country.

Ilhan Omar must have an IQ of 70. And the morons who live in her district have to be even dumber than her to think she's worthy of her position.

that's the plan. Chinese pay people off to do this. Then swoop in and take over America without a war. I know I'm missing step 2.

 

[likeacrackado]

Thats great and all, but how exactly do they decide when it is over?

 

[tehpope]

Thats great and all, but how exactly do they decide when it is over?

That's the rub. It'll never be over. Isn't the nation still in a state of emergency since 9/11?

 

[💗Freddie Freaker💗]

Thats great and all, but how exactly do they decide when it is over?

April 2022 is when the pandemic ends, apparently.

 

[AnotherPleb]

April 2022 is when the pandemic ends, apparently.
View attachment 1992570View attachment 1992576

Almost 2 years into Biden's Administration too, convenient.

 

[Vyse Inglebard]

Almost 2 years into Biden's Administration too, convenient.

Right around the time when, if Biden croaked, Harris would be eligible for her 10-year Woke Reich....

 

[💗Freddie Freaker💗]

Right around the time when, if Biden croaked, Harris would be eligible for her 10-year Woke Reich....

Nobody would vote for her, she has zero charisma. If the Dems really wanted her in for 10 years, they'd need to rig the elections so blatantly even normal people would notice.

 

[Vyse Inglebard]

Nobody would vote for her, she has zero charisma. If the Dems really wanted her in for 10 years, they'd need to rig the elections so blatantly even normal people would notice.

You must not have been awake for the past five months. Between the shit that happened in the 2020 election (which normal people DID notice, BTW), the Supreme Cuck's smackdown of any challenges to the fraudulent results, and the HR1 bill, the Dems are doing everything in their power to solidify this nation as a one-party state, now and forever more.

 

[💗Freddie Freaker💗]

You must not have been awake for the past five months. Between the shit that happened in the 2020 election (which normal people DID notice, BTW), the Supreme Cuck's smackdown of any challenges to the fraudulent results, and the HR1 bill, the Dems are doing everything in their power to solidify this nation as a one-party state, now and forever more.

I guess it is true people are so used to voting like political alignment is a sports team that if their side wins, they won't even question whether or not it was legitimate. That is what happened this year, after all. Sigh.