Housing Market: How the Eviction Moratorium Screwed Renters and Landlords!

Send us a textIn this episode, we'll take a deep dive into the effects of the eviction moratorium and how it screwed renters and landlords alike.If you're a renter or landlord this podcast might be of interest to you. The Supreme Court just recently overturned the CDC Eviction Moratorium, which has, in turn, will cause more issues for the housing market in the coming months and years. While it sounds like a good idea on paper, there are some unintended consequences that we need to explore together before making decisions about what's best for us as individuals and as a society.The Housing Market: Are We Going to Experience Another Bubble?The housing market is a delicate balance of supply and demand. By overturning the eviction moratorium, the housing market could see between 2 million and 4 million families being evicted. The federal government had set aside over $50 Billion in rent assistance. The problem is simply this, the monies cannot get distributed and now renters and landlords alike will be affected.Show Notes:Why the overturned eviction moratorium may be too little, too late for both renters, landlordsWhile eviction filings are expected to ramp up, it is unclear how quickly already backlogged courts can process new filings, or how effective the remaining patchwork of state and local protections will be in keeping renters in place until they secure rent relief.https://finance.yahoo.com/news/overturned-eviction-moratorium-may-be-too-little-too-late-for-both-renters-landlords-133545275.htmlShare of Mortgage Loans in Forbearance Remains Unchanged at 3.25 PercentThe Mortgage Bankers Association's (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance remained unchanged relative to the prior week at 3.25% as of August 22, 2021. According to MBA's estimate, 1.6 million homeowners are in forbearance plans.https://www.mba.org/2021-press-releases/august/share-of-mortgage-loans-in-forbearance-remains-unchanged-at-325-percentA tsunami of deferred debt is about to hit homeowners no longer protected by a foreclosure moratoriumhttps://www.washingtonpost.com/business/2021/08/01/tsunami-deferred-debt-is-about-hit-homeowners-no-longer-protected-by-foreclosure-moratorium/Goldman Sachs: 750K households face eviction this yearhttps://thehill.com/policy/finance/570061-goldman-sachs-750k-households-face-eviction-this-year?rl=1Support the showThanks for Listening! Follow us on Tik Tok Facebook and Instagram