Who's To Blame for Evictions?

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Some say America is in the midst of an eviction epidemic... but whose fault is it? Greedy landlords? Deadbeat tenants? Let's hear the evidence!
sources:
evictionlab.org
www.nbcnews.co...
www.realtor.co...
www.npr.org/20...
www.npr.org/tr...
www.investoped...
www.investoped...
www.nytimes.co...
www.wnycstudio...
www.cnet.com/p...
www.forbes.com...
time.com/58463...
www.huduser.go...
www.nytimes.co...
www.bloomberg....
/ examining-the-myth-of-...
www.brookings....
www.bloombergq...
nypost.com/202...
Two Cents was created by Katie Graham, Andrew Matthews, Philip Olson CFP® and Julia Lorenz-Olson and is brought to you by PBS Digital Studios. We love dropping some knowledge on all things personal finance and helping you make better money decisions.
Two Cents is hosted by Philip Olson, CFP® and Julia Lorenz-Olson
Directors: Katie Graham & Andrew Matthews
Written by: Andrew Matthews
Executive Producer: Amanda Fox
Produced by: Katie Graham
Edited & Animated by: Dano Johnson
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Music by: AP

[@jshaw1263]

I appreciate explaining both sides of the story. I was a small business owner. The state forced me to shut my doors for 3 months as a result of Covid, and when I was allowed to reopen the business simply couldn't recover. I also have two rentals, one of which the tenant refused to pay rent back in march because of Covid despite not losing their job. After several months of not collecting rent my only recourse was to evict them. Not something I wanted to do, but I felt it was better than the bank foreclosing and evicting them anyways. (As a side note commercial loans such as those I used to purchase my rentals were not differed so I had to continue to pay them while not collecting rent).

[@TwoCentsPBS]

Wow. Thank you for sharing your personal story here. That's a lot to go through. I'm curious. Have you replaced them with paying renters?

[@jshaw1263]

@@TwoCentsPBS They did significant damage to the property which took me a month to repair. They also left a 30 yard dumpsters worth of trash (think a dumpster large enough to fit 2 cars). However after I cleaned, completed the repairs, and repainted it only took hours to find new tenants for 10% more. Unfortunately a months rent is my entire profit margin for the year and it cost thousands of dollars for damages/paint/dumpster. Of course that doesn't include my time since I did all the work myself.

[@sabrini13]

@@jshaw1263 my brother's neighbors are on the opposite end of the spectrum. They've been lucky to not have their finances change but have refused to pay rent. It really makes it so much harder on those actually struggling. I'm sorry for your situation. Glad you were able to find tenants.

[@ulogy]

Can't handle the risk, don't make the investment.

[@jshaw1263]

I am unsure where I stated at any time I was uncomfortable with the risk. Simply trying to point out that this property will only break even after several more years as a result of the current crisis in a hopes that tenants might have a better understanding of why a landlord may only be left with the option to evict.

[@philg1073]

As the mom and pop landlord who lives at the same address, and who has a full time job. This is a great representation of the reality we face everyday. We don't want to lose tenants ever! We can't cover costs for the rental and our own housing without that income from rent. Typically as shown in the video the rent income only offsets the total costs and does not cover all of them. We still have expenses out of pocket.

[@bethanybaker7791]

I read "Evicted" By Matthew Desmond early this year before the Pandemic. It was disturbing, but then thinking of it all after the pandemic hit was super heart-wrenching. Really good book. Highly recommend.

[@Maverick_Maple_Syrup]

Bethany Baker I read the book as well and definitely recommend it. I do want to point that it does seem to come with some bias that landlords are simply greedy and only care about profit (as demonstrated with the LandRover owner) which is not the case. It a good read though!

[@TwoCentsPBS]

I've heard about this book as well. Also intreagued.

[@MrKingpin1988]

I've also read that book . That book is truly heartbreaking

[@davidstring8301]

Most landlords won't try to evict you immediately for one missed payment. It is in their interest to keep the tenant there because the eviction process costs money and it costs them money and time to turn it over. As a lawyer, I always suggest working with the tenant first. If that doesn't work, then you start the eviction process. Often ignored is that the landlord many times has a mortgage on the property that needs to be paid too, so I appreciate you looking at the landlord side too. The biggest problem for tenants are those who don't show up. Just showing up can often get you more time to pay if you're an honest person. I've worked out numerous deals for landlords and tenants at the courthouse.

[@Scott-by9ks]

I disagree with you on this one David. I'm a landlord and where I live there is no shortage of good qualified tenants often willing to pay more than the current ones. Evictions in my area are cheap and if a tenants rent is do on the 1st I can file on the 10th assuming the courthouse is open. Then it usually takes about 2 weeks to have a court date and get the sheriff to post the notice and then the tenant has, I think 5 days to vacate. The whole process takes about a month. Anything left by the tenant is trash and is charged for its removal. I get my team in there as quick as I can to get the place looking great, doing all repairs and such. I take very good care of my properties. I am highly selective of who qualifies for my properties. The reason there is a shortage of low income housing is because landlords don't want to deal with the headaches low income people bring. And if you don't know the list is long: insecure income, unstable relationships, ties to criminals and criminal activity, insecure extended family that often want to move in, they want pets but don't pay pet fees, they are dirty and don't keep the place clean, they are always blaming other people for their problems and do not accept responsibility. I have found that people with bad credit don't believe they are high risk! They are bad at analyzing risk.

[@davidstring8301]

@@Scott-by9ks That's not how it works here in PA , but more power to you. In PA, you have to send a 10 day notice to quit. After that, it takes about a month to get a hearing date once you file the the complaint. There is a 10 day waiting period after judgment before you can file for possession (and savvy tenants who often get free legal aid can appeal and drag it out longer). It then takes about another month to actually get the sheriff to evict. In Philly, it cost over $100 to file for eviction and the writ is about $300, IIRC. With attorneys fee, that's close to $1,000 just in removal costs. With the time (and I've simplified it), that's almost 3 months from the non-payment date until the sheriff evicts.

[@Scott-by9ks]

Good to know not to invest in PA. Here from last payment so let's say tenants pay 1 January but miss 1 February, they get 5 days grace period meaning no late fee or eviction. On 10 February I can file at the courthouse at which time a date will be set we both need to be in court, typically 10-14 days. I have never had a tenant show up to court so I have won by default. The sheriff has 5 days to post the pink slip on the door and then the tenant has a specific time to vacate, I think its 5-7 days. So total time from last time I got paid until I got my place back is 60-75 days but usually quicker. Because the sheriff has 5 days to post notice but usually either does it the day of court or the next day. When the sheriff goes by the house he will let us know if it looks vacant. If he says it looks vacant we call the tenant and if the tenant confirms its vacant we go in that day! So with a eviction judgement in my favor I can be in my house that day. If the tenant doesn't confirm it is vacant or doesn't answer we have to wait the time the notice says.

[@jeremyking9442]

@@Scott-by9ks It depends on the state you live in. Some states have eviction laws beneficial to the tenants and some have laws beneficial to the landlord.

[@Scott-by9ks]

@@jeremyking9442 I realize that. I was sharing my experience.

[@kimeonyoung914]

There's no one to blame? The mortgage companies don't lose out, the hedge funds and corporate real estate companies won't lose. If I remember correctly, the US government paid $700 billion dollars to prop up the mortgage firms and banks, while thousands of people lost their homes. The fact that the tenant's interests are not, nor those of the the 'mom-and-pop' owner, protected by the government seems to me to show that there is a separation between who's interests our institutions are set up to support and protect.

[@ericw2229]

American Capitalism: Privatize the gains, socialize the losses.

[@miriamkorver1443]

Capitalism is to blame.

[@BTrain-is8ch]

The mortgage companies don't lose out because American voters decided homeownership should be accessible. The government only has two levers when it comes to making private entities do things. Paying them to do them or giving them very strong incentives to do them. The government picked the latter and removed risk for lenders by guaranteeing conforming loans. That's the first domino in the US' twisted real estate market. Capitalism isn't the issue. It's entitled, short-sighted, people and a government happy to meddle on their behalf.

[@chrisbaker2669]

When renters don't pay landlords lose money.

[@JamesLacroixx]

@@ericw2229 Extremely well said.

[@keith819]

Been through two evictions, the first one I was 16. I think what never gets talked about is how mentally destroying they are. You're going to be constantly stressed, your relationships will be strained if not destroyed. And it's such a dark hopeless situation, on top of that once you have an eviction on your record you're going to have a horrible time getting a new place. The only solution here is to remove yourself from that situation. For example LA and much of California are horrible places to live as it's impossible to find affordable housing. Combined with needing to own a car it's impossible for your typical working class person to pay rent and save for a bad day. Luckily you don't need to live in California, if I had to give a tip to one person going through an eviction it would be to do everything you can to get to a more affordable City. Plus as a bonus affordable cities tend to be happier cities, people are much less manipulative when it's possible to meet your needs with a job.

[@kyleflamm4780]

I'm so grateful for how positive and uplifting your posts are! I know this is primarily a financial literacy channel, but in some ways this is a relationship channel. And it's good to see people in this world getting along and being supportive of each other. You help restore my faith in humanity. I know you're just being you, but keep it up and know you make a difference in this world!

[@40secondtips]

Emergency funds more important than ever, and harder than ever to grow emergency funds.

[@snowballeffect7812]

Or we can forgive debt and lenders can make slightly less profits for one year. edit: for those who read the following comment threads and still have questions, this talk is pretty good at giving a historical basis of debt and dealing with it in society: kzbin.info/www/bejne/eYuseoGOnax3mdU

[@JamesLacroixx]

Your comment and user name have piqued my interest.

[@santisven]

@@snowballeffect7812 bad idea, people soon get use to not paying. Especially when there are no consequences. Take it from someone living in a country that once was competing world leadership head to head with the U.S., and adopted big government expending as a rule of law since the end of WWII. 80 years later, poverty is getting to 60% of the people.

[@snowballeffect7812]

@@santisven debt forgiveness has been a thing since literally forever and is still a thing. perhaps you should do some actual research instead of relying on me believing your ridiculous story, which by the way, has nothing to do with debt forgiveness lol.

[@santisven]

@@snowballeffect7812 i know, argentinian bonds never get pay full. They get forgiven. Interest rates for the country are around 17% because of that. In a world where negative interest rates are the norm. So go ahead, forgive debt, those poor people will never be able to contract any kind of payable debt in their entire life.

[@chrisbaker2669]

Nobody wants to go through the eviction process. Landlords rather have good tenants and tenants dont like losing their home.

[@chanelle5889]

If you have to end the rental with an eviction, at that point, everyone has lost. The only winner in an eviction hearing is the lawyer.

[@nathand.9969]

@@chanelle5889, I agree, the eviction is just the landlord trying to cut their losses before their property becomes a massive liability instead of an investment.

[@Mnkmnkmnk]

Unless the landlord is a business and is very much equipped with lawyers that do this for a living.

[@bishop51807]

Most not all, some tenants are scum and some landlords are slumlords.

[@snowballeffect7812]

It's almost like debt is an unstable basis to build an economy on; like creating value out of thin air and then forcing people to accept it leads to bad outcomes. Weird.

[@benden5095]

As a landlord you have no idea how difficult it is to own property and manage tenants. I've lost thousands in unpaid rents, property destruction and constant repairs. Whether or not the tenants pay I still have to provide heat, water and a hospitable living environment. Mortgages, property taxes, maintenance and utilities still have to be paid regardless if the rents pay. And trust me no is out there campaigning for landlords' rights.

[@Lyrandar]

none of that would be an issue if you had a job that wasn't 'social parasite'

[@epbrown01]

@@Lyrandar How is providing someone with a place to live "parasitic?" It's providing a needed service, like any other. I've rented for 30 years, and I never had a problem with the idea, anymore than I did buying groceries or clothes or insurance.

[@ernest3286]

I would love to see more affordable housing options. Great to see Two Cents shedding light on the subject!

[@osmosisjones4912]

California Built homes for the homeless. But just like before their wife's kicked them out. New Jersey wasn't trying to help the homeless they ended life time alimony and 2 years later their rated number1 in reducing Chronic homelessness. .show who really is to blame. And it's not capitalism it's feminism

[@ernest3286]

@@osmosisjones4912 Wtf with the non-sequitur?? Pretty hella sure none of that is true either. Love your username though. I miss that show.

[@osmosisjones4912]

@@ernest3286 look it all up. It took plenty searches. The young Turk talked that with California. .. I looked know new Jersey had. Ended life time alimony in 2017. So I looked up there homeless rate to test my connection. And it was confirmed.

[@KTSpeedruns]

Too bad the government’s idea to a solution is giving rich companies money to build high cost luxury homes.

[@ernest3286]

@@KTSpeedruns I mean, that sounds like a much more likely claim than feminism causing homelessness. 😆 I'd love to see your sources though, cos I haven't heard of that happening either.

[@sminthian]

Weird, this didn't show up in my youtube feed, I was just randomly wondering why I hadn't seen a two cents video in a while...

[@TheRSAngle]

Saaaame just that im even later

[@Kanika_Rawat_]

Same!! I didn't get any two cent videos for a long time and decided to manually check the channel and saw they had uploaded many videos.

[@jellovendigar]

Exactly, youtube didn’t recommend two cents videos for a while. Found this one by myself

[@seanpchristy]

KZbin doesn't want you to know

[@geraltofrivian516]

I don’t know if one landlord that makes money from an eviction. Most of the time you don’t get the money back for rent, late fees, etc.. then the tenants usually trash the place on the way out, and then there are legal fees on top that could be $1000 or more. So you’re looking at thousands in expense after getting a bad tenant out, no way any landlord, property manager is making money on an eviction

[@Wirely]

I am so glad you guys are back! And I really appreciate that you emphasized that this is a larger societal problem that needs to be fixed, not just an individual issue for unlucky renters and mom-and-pop landlords to deal with. Thank you for taking the time to look at this from so many different angles, and presenting it so well!

[@crissd8283]

The best way to fix it is less government interference. If you have never built a house, the permit process is a nightmare and people base the affordability of a house on the cost per square foot. Permits are a good portion of the build cost and generally are not based on the size of the units but the type of building so permits cost more per square foot for smaller, more affordable, housing. Thus the government incentivies building larger luxury homes. Also, most left leaning cities zone a big portion as single family dwellings. Single family homes are more expensive to build than multiplex buildings per unit. More multiplex buildings would help lower home prices but cities dont allow it and the residents don't want multiplex buildings. Government over regulation is a big part of the problem even though they claim to be the solution. Let the market decide how to solve this instead of politicians that dont know a thing about building homes or managing property.

[@Peppermon22]

I 2012 rent was 650. In 2019 rent was going up to 980! For a “low income apartment”. I was so bummed that I had to move.

[@ijustdidahugeshit]

That was very rude

[@FaintAura]

@@tazyboy28 No, you need to be calculating by percentage. $980/$650 = about 1.5. So that's about a 50% increase in rent across 7 years, which is 7% per year. That's a little egregious unless OP lives somewhere in CA or NYC or something.

[@ladydragon7777]

It's state sanctioned grand larceny and domestic Terrorism.

[@TheLightShines]

Ikr😭

[@ijustdidahugeshit]

@@ladydragon7777 I am a qualified lesbian

[@JessicaEBowen]

You mentioned it really quickly but I think local towns and cities really have to be honest about how rent control and zoning laws are restricting investors from providing housing. Everyone wants more affordable housing to appear - as long as it in the next town over, NIMBY. Well-intentioned policies have clearly not helped low-income people.

[@ntmn8444]

Exactly. Gentrification hurts the poor.

[@johnstonefield1935]

The policies are working as intended, they make people temporarily feel better without hurting property. A lot of people want more affordable housing but the people with more time and more money don't want to risk property/housing values decreasing. If you keep this in mind it makes sense why we aren't getting better. The real question is: how can we make housing more affordable without decreasing existing housing values?

[@PvblivsAelivs]

​@@johnstonefield1935 The question might be "can we make housing more affordable without decreasing existing housing values?" There might be no way to accomplish it.

[@yefreman_music]

I'm glad you guys are back, thank you !!

[@FinancialShinanigan]

Sadly, emergency fund becomes a priority for most when they are in the middle of an emergency

[@barvdw]

With up to 60% of your wages going to rent, I would say you are constantly in an emergency, long before any real disaster even hits.

[@SmallSpoonBrigade]

Yes, it angers me that people who have been making more than I have been don't have the money for rent. They may now have less income than I did due to the $600 a week they were getting from the federal government. I get to work, take on the extra risk of being in public while the unemployed got nearly $10k that I didn't and because I'm an essential worker, I don't qualify for any help.

[@ThomasBlinuxguy]

@@SmallSpoonBrigade then be mad at the senators who blocked what could have been.

[@michaelsmith5583]

Some people need to feel the pain to learn fire is hot.

[@SmallSpoonBrigade]

@@ThomasBlinuxguy Yep, they're the ones that are to blame. They gave the unemployed and corporations a huge windfall, but screwed over the folks that are keeping this dumpster fire of a country from a nuclear meltdown.

[@GregsWorkshopOregon]

Nobody is a full time landlord with only two residential rentals.

[@TimberTaipei]

This scenario helps me sympathize with those that do not want to lock down due to COVID. The renter would be able to provide for her family, and the landlord could also have an easier time searching for other sources of income. No easy answers here.

[@colin1818]

Lots of economic AND mental health reasons to end the lockdowns.

[@NN-ix3ku]

With a 99% survival rate, you shouldn't support lock downs at all.

[@arturotorres6437]

@@NN-ix3ku 99% survival rate over Moderna's 94.5% effective Covid19 vaccine and over Pfizer's 95% effectiveness in treating Covid19. LOL, for those with a healthy immune system, probably better off with the natural 99%

[@Iffy50]

Yep, no easy answers. For the people who don't want to lock down at all, you haven't thought things through to completion. I work at a company with 70 people (down from about 95). We have 5 people our right now that have COVID. We are "critical infrastructure" but when the first person was infected it didn't take long to spread. We are wearing masks, but some people were very defiant of that rule. Not surprisingly, those were the people who are now sick. If we had no lockdown at all we would have exponential growth of community spread. People would voluntarily lock down and our hospitals would be even more overwhelmed than they already are. It would be the scenario they had in Italy where if you are over 80 years old you aren't even allowed in the hospital. People wouldn't go to restaurants, sporting events, etc. The risk of catching it would be too high. Look at what happened with the Spanish Flu... history is repeating itself. I just hope that we don't have a Philadelphia that is really defiant and pays a huge price.

[@colin1818]

@@Iffy50 - Except New York locked down like crazy and killed an outrageous number of people.

[@SuchiththaW]

One of your best videos yet. Love the balanced take and that you stay away from the extremes of the pathologically irresponsible tenant and the greedy "rent flipping" landlord.

[@Greatmount]

I have been evicted twice. Once from a home we owned and again from a rental. My mom became disabled when I was a kid and that led to years of homelessness.

[@marietta1335]

I'm sorry that you had to experience eviction as a young child. But where was your father then, if you don't mind me asking.

[@alacard4075]

coming from personal experience there are way to many tenants who think they can get a free ride and home on the back of landlords by dragging evictions when landlords have given several months of chance time to catch up. But hey what does someone who is involved in the field know other than the experiences. Maybe if more people read into the side of a what the landlord faces instead of their own bias then they might see how difficult renting properties can be.

[@tazyboy28]

Incoming "well don't become a landlordnif you cant handle it" comments. As if you ever alluded to not being able to handle it.

[@caliorbustarika3310]

@@tazyboy28 ...but that's true? Dealing with that is part of being a landlord, which you chose to do. As opposed to being a tenant, which isnt a choice - you HAVE to live somewhere. It makes sense for the general public to be more sympathetic towards tenants v/s landlords.

[@tazyboy28]

@@caliorbustarika3310 again i wrote "as if anyone ever alluded to not being able to deal with it." The issue becomes when it is being forced on us to deal with it under unnatural time frames.

[@jpoppinga8417]

Been a renter and a landlord. Been on both sides. Been f*cked over by landlords and screwed by tenants. The reality is it's a dangerous cycle. Bad landlords exist because they burned out on deadbeat renters. Dead beat renters exist because slumlords taught them not to care. Tenants and landlords are each other's own worse enemies.

[@marianhunt8899]

The current economic system is your enemy.

[@jonathanfrey6144]

Thank you for talking about some of the economic hardships caused by the pandemic! I lost my job and was unemployed for more than six months due to the economic shutdown.

[@pokeweed10k15]

I would never be a landlord. Too stressful dealing with people trying not to pay and trashing your property.

[@Francisco-j1e]

Damn, i would love to be a landlord. Not working hours a day and get loads of money.

[@pokeweed10k15]

@@Francisco-j1e its a lot of risk. But now is the perfect time to buy some property so go for it.

[@sor3999]

Why invest in real estate? Join the FAANG cocaine party like the rest of us.

[@sor3999]

@@rN-zb9kj The investor assumes the risk. You aren't owed a return.

[@nathand.9969]

@@Francisco-j1e, How nice it must be in your fantasy world! While I've never been a landlord my dad is one. I can't tell you how many times he's had to go over in person to fix x, y, and z problem. He's had to go over in the middle of the night, in winter and fix the furnace, he's had to go over and fix a Leakey pipe, he's had to remove trees, replace broken doors, fix broken appliances, and dozens of other things. he's had to pay out of pocket to get stuff fixed, he's had to deal with renters MONTHS behind on rent, had to deal with renters trashing the property, and many many more things. Being a landlord is not all roses and chocolates, it can be pretty hard, stressful, and unpleasant.

[@daltonuphoff5640]

I am very happy that they covered both sides of the story. One thing I would like to expand on, is the issue of less affordable housing. I hope to become a landlord myself someday, as a means of reaching financial independence, so I have some knowledge of this issue. Right now, there is such a thing as a 1033 exchange. During this exchange, when a landlord wants to sell a property, he may avoid hefty taxes by purchasing a property of equal, or greater value. Thus, there isn’t really a reason to purchase a property of less value. What would be a fix to this exchange that benefits the landlord to invest in property with less value?

[@parker9012]

When you are deciding what rent you need to charge to break even you will need to factor in the cost of any "renter protection" your local area has. If in your area, for example, eviction can be contested over 4 months by the tenant, you will have to evaluate that risk and add the cost of it to the rent. Now that the government has determined that eviction moratoriums are a legitimate policy, I expect they will be used more often, so that risk will need to be added into the cost of rent. Basically I would expect rent prices to go up dramatically over the next few years, and if the market can't fill those homes at the break even price, those homes to be sold. This eviction moratorium will make low rent housing even harder to find in the future.

[@BenShutUp]

This is so depressing, and incredibly helpful to know. So glad I have a family to move back in with this economic fallout from covid, but I so feel for all those that are struggling. Thank you Two Cents!

[@beardedmember]

Yeah, increased regulations about any number of things leads to higher costs for home and landowners in compliance, leading to higher costs for tenants. Increased property taxes do this as well. Increased demand for rural and suburban living (note the mass migration of Americans from cities and high tax rate states) to lower individual tax burden bring the higher costs out to atonal areas in turn driving urban living costs up as well. Vicious cycle, but who benefits? The only ones benefiting from collecting taxes at percentage rates on the properties and sales, the state and federal governments. Lovely how it all folds back like that right?

[@tazyboy28]

Bingo... the government doesn't blink twice while they collect they're money whether the property owner can pay or not but when landlords try to collect "hold on now wait a minute these renters cant pay". The federal reserve and government interference destroys everything.

[@rocker4579]

Hate when people say we need more affordable housing, yet refuse to talk about specifics how they would accomplish it. San Francisco, a city notorious for skyrocketing costs of accommodation has an average building height of just 3 stories. Mostly due to similar restrictions in building heights, Washington D.C. has some of the worst traffic in the U.S. and it has height restrictions blocking anything taller than its national monuments. In larger cities with restrictive height regulations, you can almost be guaranteed socioeconomic problems will follow. However, the cost increases as you build higher and higher. Lift systems, fire prevention measures, water supplies and pressurization and heating and cooling systems all add to the cost of high rises. Costs like these lead to a U-curve in regard to the cost per square meter and height, where the cost per square meter initially decreases with an increase in height, and then starts to increase after the height reaches a certain point due to the increased engineering demands. Every curve therefore has a bottom-out point. This bottom-out point is different in every city and varies widely even within the city. These city mayors need to treat this as an engineering problem, not a policy problem. The math is there to solve, they're just too lazy to do so.

[@Alduinsshadow148]

Tip, live with Family, many countries do this outside the US

[@encompassvideo5429]

Landlord of 30 years; this is total bleeding heart bullshit. No landlord in his or her right mind wants to engage in the eviction process; it is expensive and designed to make you lose revenue. The tenants you see getting evicted are for the most part the players of the rental business; most are looking to take advantage of a situation and they will say and do anything to get what they want. If a tenant is operating in good faith, very few landlords will turn their back on a tenant.

[@paillette2010]

Landlords are being blamed along with school leadership in my town for increased covid (exponentially) due to lack of decision making on closing campus and predatory landlords and leases that they want students to sign early.

[@campkira]

well if they increase rent right away.. and out of nowhere.. while pademic is going on.. most people just going to sue them.. the smart thing is alway tell ahead what is the plan for next year rent...

[@paillette2010]

@@campkira it’s not increases. These are students, they tend to move with frequency. It’s the leases they have to lock into 2-4 months before moving in and for calendar years, not school years.

[@Zoetherat]

Asking students to sign leases early doesn't sound "predatory" to me so long as they understand the situation. The landlords don't want to take the risk of finding a tenant, having that tenant cancel, and then having an unexpected vacancy while they have to search for another tenant. If i were the landlord, i'd either want the student to take the risk themselves or i wouldn't want to rent to students, and that seems perfectly reasonable to me.

[@paillette2010]

@@Zoetherat are you a landlord? You think students should be on the hook for rent when there are no live courses at school? To me it’s funny when lower middle class people like yourself self-identify with landlords. Funny, but actually part of the problem.

[@Zoetherat]

@@paillette2010 I am a landlord, although that doesn't have anything to do with me having the views that i have. You act as if everyone should care about students getting the short end of the stick even if they're not students, but no one should care about landlords getting the short end of the stick unless they're actually landlords themselves.

[@xaldath4265]

Am I supposed to sympathize with Tom, who chose to buy two cashflow negative rentals while unable to work as a laborer for a living? As a landlord, myself, I don't really feel bad for him since he chose those properties with those numbers. It's better for both landlords and renters if we were all a little more understanding of our position and impact on the situation. Evicting due to non-payment without any further knowledge of the situation likely leaves the evictee worse off than if they were allowed to stay and pay back arrears long term. Like the video mentioned, if you can't afford rent, you likely can't afford the security deposit on a new lease, either. So for all you other landlords out there, please remember that the business you chose to "passively" support yourself has a direct, life-altering impact on the lives of others. If you do it right, we can all win.

[@user-vn7ce5ig1z]

• In neighborhoods where property values are going up (due to being developed or gentrified), landlords have been caught trying to evict people for any excuse they can come up with so that they can re-rent the property at the higher rates. • During the pandemic, many stores had to close and not make money and many people couldn't work and make money, but landlords act like they're supposed to be immune and get paid no matter what. 😒 • The moratorium only blocks them from evicting people, most landlords still expect to get paid all of the rent missed during the pandemic rather than just taking the hit like everybody else has had to do. Of course, most people aren't going to be able to pay off the back-rent since they're not going to get retroactively paid for the months they couldn't work, so it's just an excuse for the landlords to evict them the first moment they can. ¬_¬ • Fortunately, governments work slow, even without a pandemic, so that the moratorium ends in January means that cases won't be resolved until after the winter is over, so people won't be out on the street until after the cold ends. • 4:23 - His side of the story is garbage. His excuse is that he won't be able to make payments, but that's the same problem that the tenants have. Why should he be different, why should he be exempt from the economic fallout of the pandemic? 🤨 Eventually, governments will have to figure out some way of fixing the financial damage that the damage did, so he can just take advantage of that like everybody else, why should some people get extra hurt while others dont' get hurt at all? That's just more of the gap that just keeps widening. Besides, if he can afford a place for himself to live _and_ a place to rent out, then he's not exactly poor, so excuse me if I have less than zero sympathy for him. 🙄 • 4:35 - He's trying to _retire,_ that is, live without working. His tenants are trying to _NOT LIVE ON THE STREET!_ (while they continue to work), so again, excuse me if I couldn't care less about his situation. 😒 • 4:45 - How is having the property empty any better? It's not like the economy is booming with lots of people flush with cash, looking for places to live. Unless they're paying for the water and electricity, then it's no different with the tenant in it but not paying rent (but maintaining the property) than just lying there unused. • 4:55 - The solution isn't to evict tenants since that does _not_ get them any money. The solution is to make the banks take a hit like everybody else instead of demanding the mortgage payments during the pandemic. I'm so sick of some groups like landlords, banks, and utilities acting like they're special and more important and not having to lose anything. 😒 • 5:23 - Landlords have been actively working _against_ tenants by staying quiet instead of telling them about things like government assistance offers. That's just proof they _want_ to evict people (to re-rent for more). 😒 • 6:35 - This is an old tune; incomes across the board go up MUCH slower than the cost of all expenses. I'm honestly surprised that anyone manages to live at all anymore. 🤔 • 6:49 - Whenever the topic of overpopulation comes up, people always blab about food, but there are so many other resources that are at much more risk with overpopulation including jobs and housing. 🤦 They're already bulldozing every scrap of land to put up buildings, but even that's not enough, let alone affordable places. • 7:26 - Too bad the government is so busy with petty in-fighting, partisan quibbling, and blocking the other side from getting anything done and undoing their accomplishments to actually do their damned jobs. 2021 won't be any better. 😒 • 8:01 - I can't fathom landlords immediately jumping straight to evicting people for owing less than a single month's rent. 🤯

[@NotHPotter]

Preach!

[@channell11]

I bet you'd feel quite differently if the shoe was on the other foot and someone else was entitled to use your property or services without paying for it. The store that closes down and the people that aren't working aren't making money-but they also aren't being forced to provide their property and services for no compensation. Are you going to shrug and keep working if your boss says "Sorry, we took a hit and I can't afford to pay you-but you need to keep coming into work every day?" Not likely-you'd go look for another job. You exercise selective morality-it's okay for the tenant to not pay but still have the use of a property, but it's okay for the landlord to lose his revenue stream-just because he might be a little better off. I'm sure he doesn't have bills or a mortgage, either, right? Typical class warfare BS.

[@DylanS32]

@@channell11 How do we define whose property it is? The tenant is working and providing labor, then paying for the rent. The landlord just gives that over to the banks. What benefit is the landlord generating here? Why does he have the rights to the property when the tenant is paying for it and using over half their income? Why doesn't the landlord get a job to cover the expenses if he thinks it's so easy for the tenant to do the same?

[@channell11]

@@DylanS32 We can define it very easily. The landlord owns the property. Assuming he has a mortgage, the bank loaned him the money to purchase the property. The landlord then signs a contract with the tenant to provide him use for a specified period of time for a specified rate. The benefit the landlord provides is making his property available to the tenant (since it's his property he can do what he likes with it) as well as ensuring the property is maintained and livable during the tenant's stay. The landlord has rights to the property because he owns it-the tenant has no rights to the property because he doesn't. The tenant gets to use the property because he pays to use it-if he wanted equity or property rights he would have to purchase a property or rent-to-own. The tenant assumes no risk or responsibilities of ownership. At the end of the lease he can just walk away. Why can't the landlord get a job? Why can't the tenant get a job so he can fulfill his part of the contract and stop utilizing the property and services of others without paying for it? Funny how the landlord still has to hold up his end...

[@BrokenAlmonds]

We need land without landlords

[@gloriagallardo7008]

Just a reminder that housing is a human right, and we shouldn't normalize the idea of evictions and people living on the street when there are enough units for everyone to be housed. Instead we should question why more people are not housed, why wages are low and why rent control is stigmatized....

[@rafaelcosta3238]

If you want to know the reason why people fight to avoid low income housing in their neighbourhoods, just go to a project.

[@kaniahankston4310]

There’s plenty of low income housing or government assisted housing that are not projects, and are actually great places for people to live in their neighborhood! It’s stereotypes like this that make it difficult for affordable housing to happen.

[@rafaelcosta3238]

@@kaniahankston4310 people are not going to gamble their house value, and their families safety on the possibility that the affordable housing the government wants to impose on them is the rare case that does not bring lots of problems.

[@kaniahankston4310]

@@rafaelcosta3238 I don’t think it’s a “rare” case but okay. Everyone has their opinion, to each their own.

[@alexfrancis9625]

You guys should make a video over the unfair markups that printers have by using cartridges and the benefits of switching to ink tank printers. Its has saved my business over $2000.00 in one year alone

[@Maria-ed7rv]

Hello! I would like to say that it is possible to be low income and be well. I live in a small town outside of ATL. I live in a small house that is around $450 per month for the mortgage no tax or insurance included with the $450. Insurance is around 1,500 per year. And taxes are 1,600 per year. But we do spend around $800 for groceries a month for a family of four. We like to eat a lot of fruits and vegetables which are expensive. Our monthly costs are no more than $2,200 per month for a family of four. And we don't live in the middle of nowhere, we live outside of ATL! It is possible to live well and be low income. Sometimes people just don't mange their money well or they don't want to make sacrifices to save money. For example, my family uses public transport instead of driving.

[@chalimi.fithratu]

Yup there's always better way to manage the money

[@mattf2535]

I love this channel; use it a lot to teach my students. Thanks for all the great content!!

[@norcofreerider604]

Answer me this, if affordable housing is an issue, of the 50 cities with the highest rents in the U.S., why are almost all of them in Democrat controlled states? The question is rhetorical, I know the answer already.

[@vulpixelful]

Because the property values are high due to either attracting businesses or amenities that people actually want to live around.

[@norcofreerider604]

@@vulpixelful Sort of but not really. The biggest issue is it is much more difficult to build new housing because of ridiculously strict zoning regulations and arduous approval processes. There are plenty of boom cities in Texas and Tennessee that do not have these sorts of housing issues despite rapid growth because they do not make it unreasonably difficult to build new housing or redevelop land. There is also the interesting point about how making it difficult to evict a tenant who misses rent discourages the development of low income rental units. A landlord wants to maximize profit and minimize risk, so low cost rental units where the tenant is more likely to miss a payment becomes much higher risk when there is a difficult eviction process. Additionally, when you add in high property taxes and long and difficult development approval processes, you remove any incentive for developers to make low income apartments available. If you want to make housing affordable, have a market where builders and landlords can make a reasonable profit on it. Texas doesn't have an issue with this, unlike California.

[@PatrykPadus]

@@norcofreerider604 No, this is work different. Rich people buy out all with cash. They lobby to remove owners that don't have as much money as they are in adding eviction process as costly as possible. Look on NYC, people are escaping it because nobody own nothing. This is structural change in who owns what. Ultra rich people don't have problem spending 1M for shelter but never sell buildings/land cheap.

[@norcofreerider604]

@@PatrykPadus Nice way of avoiding answering the question.

[@PatrykPadus]

@@norcofreerider604 If you can buy cheap where is already standing building then building one can be more expensive. If no option is available then you get what lobby ultra rich person.

[@JayZx777]

I would disagree that evicting someone is cheap and that landlords abusing the system. My experience was that the tenants would always abuse my good nature, where they would stop paying rent for months lying to me that they would pay, while they had money to buy a new car. I went bankrupt due to tenants like that while I had my own mortgage to pay. So tenants should be responsible for their actions as owners they have mortgages too and they cannot afford charity, specially to dishonest people. Regarding eviction crisis, it was estimated that major portion of all people receiving government stimulus spent it on electronics, video games and new iPhones. We live in the society of irresponsible, self gratifying, consumers who are refusing to take responsibility for their financial situation. I'm sorry for all of the Renters and Landlords who are in the pickle due to no rent/no money situation, I hope you can get out of the situation. In my case 10 years ago I was able to start fresh, but this time I had not invested in rental unit and I'm a homeowner. Cheers and good luck everyone.

[@charlesg7926]

Yeah bro, you’re not wrong about the nature of people. But IMO I think you were too soft. You shouldn’t be a landlord unless you’re able to set aside your emotions and stick to your policies exactly like a business. I own a remodeling company and I also own 2 rental properties, and in both cases, when people don’t pay, I have policies set in place that 1) ensure I will be paid, 2) legally cover my bases and 3) in the case of my business, protect my reputation. (With the remodeling business, I send “friendly reminders” first, and call them on recorded line to have friendly chat and see if there’s any touch ups needed for the work. And then schedule an exact day if they say there is. And only after that, once I have proof they’re ghosting me and aren’t paying, then I’ll send a notice of past due payment… then a second notice a few days later noting we will file a lien on the property and go to collections… and then I follow through if I’m still not paid.) Also with my remodeling business, if they’re SELLING THE HOUSE after my remodeling work is complete (which is fairly common), then I expedite my “file a lien if they don’t pay” thing. I make sure I’m paid within 7 days or I file a lien. This way, they can’t sneak and sell the house before the lien is filed

[@charlesg7926]

To continue- you should’ve had “first and last months rent, plus $250 security deposit” paid upon move-in. Then if they stay past their lease, email and call/text them notice 24 hours after late, then if they’re still late 48 hours later, remind them of your eviction process if unpaid and tell them that you provide a good unit (product) to them but that you view this strictly as business. Let them know you are a logical landlord, fair but not at all sympathetic. They pay, they stay, they don’t, they go. And remind them that “with inflation lately, rent costs nowadays are much higher and it’s harder to find rentals lately- so it’s probably in your best interest to make the payment today, right?” This kind of makes them think “darn, he’s right, let me pay it now”. One time I had a guy late and I told him that and he reconsidered and paid me that same day. And then if they still don’t pay you, that’s what the 1st and last month’s rent + $250 deposit is for! Just evict them (30 days notice) on day 5 of no paying. And keep the last month’s rent. If allowed in your state, deduct the money from the $250 to cover the days they stayed late.

[@JayZx777]

@@charlesg7926 In my case I had a security deposit, and I have been sending official letters to the tenant with information regarding the start of the eviction process. They had decided to stay for months without paying, also the eviction process here takes about 6 months. Just before they left, they had flooded the place with water, destroying hardwood floors, making holes in the walls, removing kitchen cabinets, destroying the refrigerator, range, spreading feces on the walls, flooring my neighbor's place... Regarding the eviction process and police reports, I felt that I was treated like a criminal, not the people who stopped paying and destroyed my place. I can only hope that there is some sort of karma and these people will get what they deserve in life. After this endeavor of not getting rent for months, I was done with being a landlord. So as easy as it looks on paper, and all the pre-checks you can do, people are just unpredictable.

[@charlesg7926]

@@JayZx777 Ahhhh. So your problem was buying real estate in a liberal-run area. Bad idea. Real estate in liberal areas is always a bad idea. It inevitably turns socialist and then you have no way of getting freeloading renters out

[@JayZx777]

​@@charlesg7926 You might be right, and yes I live in the Bolshevik run state - Illinois. So my experience was pretty horrifying, and of course, your experience might be different somewhere else. :)

[@johnappleseed203]

I have rented for 13 years and one of those years I was evicted. I couldn't afford to live in the apartment, it was a huge fucking bummer, but I get it. It was a great learning experience and it forced me to work harder and be a better person.

[@fft2020]

keep rent feeding landlord parasites, in the end of your life you will have nothing

[@nathand.9969]

@@fft2020, Don't rent all your life, but at the same time, landlords are not de facto parasites. They provide a service (housing) that most renters could not at that point in their life afford to purchase. Does the landlord make money? Yes, but they have families to feed, retirement to think of, the risk of becoming land lords in the first place, and much much more. I think if you became a landlord your view would suddenly and radically change just from the knowledge of what's involved.

[@alexroberto6353]

I just found out that my great-grandmother was a landlord in Italy 70 years ago, and the local mob boss would tip his hat to her.

[@snowballeffect7812]

I started watching this thinking the lender would be brought up more, but you do make a good point about how little affordable housing is available in the US as a result of various market failures and more market failures trying to fix the first ones.

[@dontbanmebrodontbanme5403]

This is why my wife and I bought our house decades ago. No matter what happens in this world, we have that's our own and we don't have to worry about rental increases, etc. We also own a second piece of land right behind it and we'll eventually build another home on it. I would tell anyone to buy a house and pay off your debt. This pandemic has shown that your situation can become precarious very quickly.

[@theniceneighbor]

Whose to blame? ...fast forward to end.. " it doesn't matter"

[@abberss]

The system is to blame

[@janesmith3267]

They are making an argument that a focus on solution finding is more important than blaming. Often solution finding to systemic issues requires accepting that fault is rarely linear

[@Lyrandar]

capitalism.jpg

[@neberboi]

Both side are to blame because they didnt save enough money

[@donverga]

@@Lyrandar no it's crony capitalism that ruins it

[@mgnomnom]

The Govt should pay for the rent/mortgage, since they're the one who's forcing the situation.

[@saiyjin98]

The whole thing would be a non-issue if they just guaranteed unemployment checks for the duration of the lockdown. Then everyone gets paid.

[@BroBlackWolf1]

I live in a campground I own my own camper my lot rent is 325 a month which includes utilities.

[@cristianomarinelli3252]

If your willing to live in a small town away from the city rent is cheap.

[@samomiotek7210]

The median income in my hometown is $56k, the median home price is $800k, and every new development is full of luxury apartments and houses in the low millions. I am paid in the bottom 4th percentile for my occupation. I love CA but it's just getting insane.

[@PetarStamenkovic]

If only there was a way to bypass the bureaucratic nightmare and red tape that is necessary for investors to finance new housing. I hate how some advocate that the red tape and bureaucracy are necessary to protect poor people. The same people that are getting evicted because there are no cheaper alternatives because of that red tape and bureaucracy... Good intentions trump reality for some... It looks like it's true that the road to hell is paved with good intentions. We're creating that hell for our financially less fortunate citizens.

[@ntmn8444]

If it weren’t for that red tape, many unscrupulous landlords would find any reason to evict people. The law is there to protect people. I like small government too, but alas I still like government.

[@PetarStamenkovic]

@@ntmn8444 There is a proper discussion to be had with that one. All the laws are there to benefit the most vulnerable, most often. However, what happens as often is that the same laws actually hurt people they are designed to help. Minimum wage becomes no job for the low skilled. That increases poverty, creates more misery and so on. Still, there are plenty of people still in favor of minimum wage laws, and there are even those in the extremes who'd want to increase the minimum wage still. I don't doubt that people in favor of laws that hurt the poor mean well. I'm not sure if there is a lower number that actually helps most rather then hinder, but that discussion is best left to the economic experts- not politicians. They lie to get and stay in power. As long as they do, they don't care about the effects of their policies as they are not the ones that experience them first hand.

[@ladydragon7777]

The only investors financing housing are the Tennant's getting robbed blind by the thieving welfare parasites calling themselves landlords robbing them blind.

[@PetarStamenkovic]

@@ladydragon7777 If you think it's easy to be a landlord and rob the tenants, please- save up, invest in an apartment and rent it at abysmal conditions. See how well you do financially with that strategy. The beauty of capitalism is that it forces you to serve me to the best of your ability. If you do a poor job, or offer a bad service, I'm free to pick anyone else. Bad business and practices fail as people chose better alternative. As long as there are no laws forcing me to use your terrible product or service- you either have to improve or fail- like 90%+ of business. You only get to complain about the 10% of the successful ones that make it. If you think you can do a better job, please do. That's how we get Elon Musks and Steve Jobs.

[@egonzalez4294]

Hold up, the goverment created this broken system that incentivates this kind of behaviour and sucks for both parties. Well then they are to blame, I didn't even know the government played such a role, this sucks. Remove property tax, building regulations that prevent affordable housing, and remove eviction court and shenanigans, what about that?... promote an environment of no-evictions and don't incentive evictions with fees and interest for the landlord.

[@SavageBunny1]

We once evicted a guy that was drunk all the time because if a break up, when the sheriff came to get him out, he had $20k in his pocket and he wanted to pay the rent but couldn't, whe we cleaned out his apartments we found 3 money orders he made to pay the rent, of $1,450 each, we unfortunately couldn't get a hod of him to give them back to him.

[@F_And]

He made his own problems

[@Nikki-lodeon]

That's so sad 🙁

[@Dantick09]

Why didn’t you stop the eviction when you revitalized he did have the money?

[@davidstring8301]

@@Dantick09 Because you can't keep dealing with someone with a problem like that if they have no plan to get help and improve themselves. If they took his rent that month he would keep missing payments because hes not getting better. Evictions typically happen after a pattern of missed or significantly late and/or short payments.

[@WDCallahan]

Why would you try to return the money orders if he owed that back rent to you?

[@mitchellsnyder6228]

As a landlord myself, you can’t evict someone because you want to sell the house (at least in Virginia). You can refuse to renew their lease, and evict them if they don’t leave in the allotted time.

[@paulbroderick8438]

My mother used to say, "Cash is King'!

[@shaereub4450]

Cash FLOW is king

[@Davidchhoun]

@@shaereub4450 Yes but it can screw you during a pandemic where your cash flow is affected negatively, especially when you are leveraged. For example, if a tenant can’t pay their rent but you still have to pay the monthly mortgage.

[@bishop51807]

And workers are peasants

[@blackbutterfly233ify]

Is your mother Dave Ramsey

[@chriskimsey9605]

First off the eviction process is not cheap and easy. Next Landlords should have a 6 month emergency fund to weather a storm. I would also venture to say that most mom and pop landlords recognize that a tenant who has been paying rent on time for long time is a good tenant. They would also recognize especially with low income rentals that if my tenant has no job due to the plague there is probably not a whole lot of other potential tenants to choose from. All in all as a landlord make sure you have cash reserves. This was a rough ride for everyone. We need to work together and communicate to make it through.

[@kattapp]

4:26 oh no I’m so sad that the people driving up house prices are facing problems

[@norman1741]

Spot on.

[@brbosi]

Exactly

[@bnollbnoll2205]

You clearly don’t understand what the landlord’s thought rationale was

[@tazyboy28]

The ratio of rentals to actual homes in this country does not support your argument. The sale of any property or land no matter what the building or land was used for is universally the same. You try and sell it for a profit.

[@tazoz626]

This makes the tenant look like the victim. The reality is that many tenants take advantage of their landlords by not paying the rent. In NYS, their moratorium is pushed back again and again.

[@ladydragon7777]

Tennant's are the victims dumb brainwashed slave,these welfare parasites calling themselves landlords sit on their ass collecting free money,in turn they are collecting free property off that free money. Rent is nothing more than state sanctioned grand larceny and domestic terrorism,a crime against humanity. Landlords should have to return the money a Tennant invests into the property when they move out or are evicted.

[@jaquelalbitcoin7565]

she's currently handling my account for me and making me huge profit turning 2 BTC into 4BTC in 9 days and making me $400,000 weekly by putting $50, 000 indeed am amazed...

[@jaquelalbitcoin7565]

Her what@pp + 1 6 2 6 5 2 7 9 3 5 0

[@dougg4633]

The Revolutionary War was in part fought for this reason. Taxed with no representation. And Quartering

[@antbanks415]

This is why I don't like using housing as an investment. I wish people like landlords and corporations cannot buy residential real estate for an investment. If they have extra cash, then put that into the stock market.

[@colin1818]

If nobody could own investment properties then there would be no renting at all. How could it exist? People are only allowed to own the house they live in and nothing else. So now everybody has a purchase a home. Well that's not realistic. Nearly everybody would live in multi-generational homes.

[@BrokenAlmonds]

I agree. We should have land without landlords.

[@janesmith3267]

And the situation is even worse in Australia, where you can be evicted anytime for no reason. There are supposed to be rules about how long you have to move out for a no reason eviction, but I have had the experience many times and know countless others where the real estate agent just emails you once day saying the landlord is selling, you are out within a few weeks. For example one friend had her rent increase every quarter, one time she questioned why the constant increases, sure enough she had 3 weeks to move - no reason for eviction cited

[@Someonelikekanye]

Thats fascinating. I know here in America its a bit iffy. In red states like Arizona if the tenant doesn’t pay on the 1st of the month he/she can get evicted by the 15th. But in blue states like New York, it takes almost a year of going to court and receiving no rent from the tenant for the landlord to finally evict the tenant

[@ryantaylor6530]

I live in Sydney and own an investment property: I can only sell the property if my tennant is not under a fixed term lease and I need to give 1 months notice.

[@LluviadeOrugas]

@@Someonelikekanye, my tenants in the very blue state of NJ have month to month leases and I’d be able to evict them in a little over a month if needed. Fortunately, they’re all great people.

[@georgewagner7787]

Can she ask for an annual lease next time

[@Bri-ln5hm]

Thank you for coming back!

[@sammierose1150]

So.... what exactly is the solution if people’s parents are gone and they have no friends that they can live with and they lost their job - what are they supposed to do? 🤔

[@asadb1990]

you manage its not easy. but you realize who your real friends are.

[@sammierose1150]

@@asadb1990 It was a hypothetical question - but some real people’s situations are like that. Most Americans don’t teach their children the importance of saving, and they in turn don’t teach their children. It’s an unfortunate cycle, really. (One of the many reasons I don’t want to have children - they are very high cost inductive)

[@asadb1990]

@@sammierose1150 well my parents are immigrants and they saved like crazy. but they never taught me to invest or save. instead they wanted me to give them all the extra money i had. they built property, investments, etc. but i never got a penny from that. now my parents tell me, its my duty to provide for them and not spend a dime on myself if i have any hope for comfortable retirement.

[@tazyboy28]

People and pride burning bridges. Not saving. Getting too comfortable in a house that isn't yours. I always said if i had to leave my home i would just live in my car. People hate thinking of plan B's because they can never see past their damn nose. Then blame everyone but their selves. Maybe if it werent an inherent issue with humans this country wouldnt be in so much debt

[@tazyboy28]

@@asadb1990 you need to move out with friends and make a life for yourself. Your situation sounds bad.

[@SLangel18]

As a landlord, I’ve had nice tenants that were always on time on rent and such. BUT I’ve also had awful people, and one particular that was actively cheating the system. Had no problem hoping from place to place and had 4 different evictions on her record. I DISAGREE COMPLETELY about it being “affordable” for a landlord to evict someone. That horrible woman knew the system better that I did. I had to higher a lawyer, pay the courts, than the sheriff for express service so I could remove her a month earlier… if not she would have been there longer using up my water and electricity, having her stupid dog eating my cabinets. No it was not affordable, when a real squatter has they’re mind set on destroying a place and the police have no authority in getting her out. They need a court order and warrant!

[@Bonifeks51]

190,000 a poor person house, that one hurt 2 cents, that one hurt...

[@Bonifeks51]

@Two Cents I highly doubt this KZbin channel would be pedaling crypto as a viable financial option for stable ROI. Soooo...account hack maybe?

[@420spoods]

Can I sue my old landlord for mental suffering? She did evict me during a freaking pandemic.

[@nataliefontane]

Only if I can sue covidiots for the same thing.

[@chadsexington3504]

Did you pay the rent as agreed in your lease?

[@myscorebig]

I'll be ready to buy a foreclosed property in a few months

[@liamsgamingpcs7473]

Honestly... I feel bad for the landlords... They are just trying to eat and pay bills just like everybody else

[@joshreddy4278]

Guess how much money I have to prevent myself from being evicted? Two Cents

[@Josephsvideoalbum]

We're dealing with an eviction right now, ours is a little different. My wife left, shortly after the female manager started finding anything she could to write us up. I'm a single father now with a four-year-old son. She tried to hold us to some code doesn't affect us, you have an RV. Eventually they refuse to acceptance the rent which includes utilities. In their paperwork they say we owe them this money???

[@briankow239]

Instead of spending state or government money for processing evictions, setting up homeless facilities, etc. Why not use that money to sibsidize housing so its more affordable for lower income earners to rent / buy.

[@juanpablomolina857]

Subsidies raise prices , it dies not fix the fundamental resource distribution underlying reality

[@hunnybadger442]

That's socialism

[@tazyboy28]

Thats a bandaid that doesn't work. Makes more sense to build more housing. Lower the demand and the prices stay lowered.

[@PCFLSZ]

@@tazyboy28 Housing is being built, but increasing production costs and the regulatory costs in the areas with the largest need make affordable housing construction projects a money losing proposition.

[@tazyboy28]

@@PCFLSZ subsidize the building process then...

[@nelshmel]

This video was amazing and informative. It's always a big treat to find a high quality source of financial advice that's unbaised enough to acknowledge the flaws in our current systems.

[@why_though]

How could this EVER be the landlord's fault????

[@familydogg1234]

Most landlords show up on time to collect. How about showing the same punctuality for repairs? For instance the water heater, furnace, New AC ( thats in the Wal) these things are in the Lease

[@Epoch11]

I'm glad we have a government currently doing nothing during a crisis and during a new lockdown

[@jimpeschke3435]

On the contrary, the government is doing too much, hence the "lockdown".

[@germanogirardelli]

Just thought I'd share this; my mother has 2 apartments which she rents. We have had tenants not pay rent for more than a year before they got evicted. Oh and the apartment was left with thousands of euros in damage. When they said that she was evicted in 10 days I was in total disbelief. I'm not saying that america has it better or we have it worst, it's simply interesting.

[@maysox12]

Super educational, fun, relevant and digestible despite being a broad topic. You're videos are always well-made. It keeps viewers engaged through cute visuals & narrations. High schools should mandate you're channel in "real life skills class".

[@Xander-dx6mw]

A lot of good points brought up here, however personal financial responsibility was not one. A friend works as a property maintenance manager for a 60 unit apartment complex. He says every month before covid, they would file for summary eviction on between 2-4 Tennant's, all from the same group of 8. All eventually came up with the funds, so it was a massive time and money suck for the owner to get paid rent from 5% of Tennant's. Worse part was that the renters drove decent vehicles, had high end tech (phone's, TV's and stereo's), so the problem was not not having the money, but failing to budget properly.

[@threenines95]

At 6:46 you say that rent “skyrocketed” by 70%, but the chart visual showed 1960-2014, a 70% increase over 55 years is about 1.3% per year. Right?

[@williamcosgrove3552]

I think the 70% is adjusted for inflation. The real nominal increase is probably more like 3.3% each year. That would explain why the number of affordable units (under $600 a month) has declined so dramatically too.

[@brandonkelley6500]

I'm glad y'all are back! It felt like two months. I was worried

[@Jose-lc6nj]

7:24 just stop printing money and bailing out corrupt and inefficient corporations; let the market adjust the price

[@XFizzlepop-Berrytwist]

This is why I think property taxes should not exist. You bought the home! You shouldnt lose your home for being poor. Its sickening the US is this way.

[@jonathantyree8172]

I'm grateful I bought by my house three years ago and I'm also grateful for having a job that has been deemed essential

[@sct4040]

You don't own it until it's all paid off, then make sure you have $ for real estate taxes.

[@jonathantyree8172]

@@sct4040 that I'm aware of but since this pandemic house prices in my area have doubled. I'm paying way less than i would have if I secured a morgage this year.

[@vipneat7265]

Every job is essential. Unreasonable shutdowns are the problem

[@joshuatrouy6719]

Referencing 2:40 The added fees would mean more money that the tenant has to pay, but I don't understand how it means that it would go to the landlord. Aren't all of those legal fees paid to the state by the landlord when they file for an eviction, and then paid to the landlord by the tenant after a court ruling? That would result in a net gain of $0 for the landlord, but an incentive for the state to make evictions easier.

[@nathyyy]

omg i missed y'all 😭

[@adrees]

Fair and balanced. That’s why the government should have paid the people if it was telling them to stop working.

[@VideogameFrames]

Thanks i’m gonna go cry now

[@lohphat]

The big banks MUST BE FED. No governmental intervention on reducing property taxes or forcing banks to forgive mortgages. Poor, poor banks.

[@gnarfgnarf4004]

The problem is that if John can afford to pay rent, but sees his neighbour Ralph getting away with not paying rent, John will do the same. The only way to sort them out is to evict Ralph. Then John will get the message.

[@marietta1335]

Except during eviction moratorium when you are forbidden to evict Ralph at all.

[@BlueStreak706]

Moratorium ends in 2021. Months of unpaid rent stacks up. Renters across the country gets evicted. Housing bubble crash. The cycle starts all over again, like 08.

[@mibar5821]

When I saw the title, I thought, capitalism but they won't say it. Then, I said, "that's a start" when it was explicitly mentioned as one of the causes for the housing crisis (7:35). Never ever forget MLK's wise words, "We all too often have socialism for the rich and rugged free market capitalism for the poor." We are experiencing it once again during this Cov-19 pandemic...

[@Lyrandar]

capitalism is a disease

[@justinturbopool9367]

And governemnt with its restrictions are to blame.

[@JuneHarriseco]

Tf you know about socialism or capitalism? Move to North Korea and complain there.

[@mibar5821]

@@JuneHarriseco Wow! What an insightful comment...I know that our corporatist government gave trillions of dollars to the rich and the corporations and injected trillions of dollars into the stock market to keep it afloat. They socialized the loses and privatized the gains. What did the people get? A one time $1200 check. If they truly believe in capitalism and all that free market BS, why didn't they let those corporations fail? Isn't the "free market" a system that minimizes government intervention and the competition decides which businesses are successful? Why do they need bailouts? If they're failing, let them fail! "Capitalists" are such hypocrites...every 4 to 7 years they need socialism to save them and they still demonize it to keep the propaganda machine rolling...TF do you know about having a mind of your own and challenging the established systems?

[@Majorohminus]

Problem just comes down to inequality at the end of the day. Amazon's market cap went up $1 trillion dollar during the pandemic while the general economy is struggling. It won't end unless the government actually does things for the people instead of for the big corporations. This will keep building until an economic bust the likes of which hasn't seen since the great depression.

[@ottomaguire2443]

I do not disagree with the information that you provided I disagree with the information you omitted landlords have to take them to court and it can be a several-month process before they are evicted they're for out not just the partial month that they're in the rears for but several months until they're able to get them out of the property so they have to start the eviction notice as soon as possible because they're already going to be several months behind by the time they get them out of the rental.. many times they realize the desperation the renters are in and so they act proactively in their own best interest.. the legal system isn't saving the renter or the landlord they're in the business of maintaining their own legitimacy in the banks went out because they resell the property to someone else who again rinse it to that same person who can't afford it because the CDC shut down our country

[@sabrinatatalias4277]

My parents are landlords, and to put it nicely out of 50 units we got 0 rent all year because of covid and can't evict them. The loser is the landlord because they are out the money, and have to pay all the bills. The tenant is out the space but essentially gets a get out of jail free card by not paying if they can't be evicted.

[@BusArch42]

Nobody wants to own rental units now. The number of rentals are going to plummet

[@dougg4633]

Your parents need a better screening system

[@durtleau8538]

Great video. Best health to you all.

[@joshgeorge7]

$850 behind on rent and seeking an eviction - yeah right! Landlords have much more at stake than that. Typically many, many months by the time the wheels of justice turn, and litigation costs to boot.

[@ethanquinn2449]

It really depends on your view of what a home is. Is a home a object or a right

[@sammierose1150]

If people’s parents are dead and they have no friends that they can live with and they lost their job - what are they supposed to do? 🤔

[@dougg4633]

I always explain it to my tenants as "It's Your Home but My House" Live as you want, enjoy the home but at the end of the month the House has bills/responsibilities/liability/etc. When the tenants way of living (or in this case not paying) interfere with the business or peaceful enjoyment of others. Something has to happen

[@sammierose1150]

@@dougg4633 so what would you suggest if all a tenant’s family are gone and they have no friends that they can live with and they lost their job - what are they supposed to do? 🤔

[@dougg4633]

@@sammierose1150 Good question, It would seem either the Government or a Charity would have to step in.

[@sbilida1]

Kinda misleading when you were showing the graphs of rent and income using different timeframes

[@chicho_111]

one is from 1980-2019 and the other is from 1960-2014. i want you to write a minimum 4 paragraph essay answering the following prompt related to your comment. “What is the extent of the misinformation that may be produced by the graphs, and explain your reasoning.” make that shit complete with a thesis, contextualization, analysis of the graphs, and arguments supported by the graphs.

[@MetalSportsJ]

@@chicho_111 You first.

[@LLL124Original]

@@MetalSportsJ He doesn't have too. The person making the claim must supply evidence of their claim.

[@snowballeffect7812]

@@LLL124Original The person making the claim doesn't have to do anything, actually. We can point out they're wrong anyway, though.

[@readisgooddewaterkant7890]

it is ajusted to inflation

[@jOrdyyflOres]

If you’re a landlord and you’re struggling to make a mortgage payment, find another job, like the rest of us.

[@ernestgonzalez941]

Oh yes the blame game,, give solutions please,,, not stupid comments

[@ernestgonzalez941]

What !! A liberal Dem per your profile --"calmate whey !!! You are what is destroying this country

[@jOrdyyflOres]

@@ernestgonzalez941 drop off the face off the earth☺️ that simple