The rich are too busy making money hand over fist, while rent evictions will be triggered in days. Everyone is just too damn preoccupied to notice the REAL state of our economy. The ultra rich are buying up houses and land globally with their ill-gotten gains from the Fed further putting the squeeze on the sheeple. This is absolutely a war and the masses are losing horribly. Landlords are in for a rude awakening once the moratorium ends and stimmies run out. The rent is only going up for the people who pay rent. Rent has been - zero - for millions of renters for almost 18 months. The landlords are jacking the rent on those who pay to make up for the arrears on their balance sheets for non-paying tenants of the last 18 months, and to get back on top of their own debts/bills/etc... Property taxes have gone up or will soon due to increased valuation, maintenance costs are up if you can find someone and, of course, insurance is up…it’s not all rosy for the owners. That’s when BlackRock will buy up everything. First inflation then rapid deflation. Blackrock and Vanguard are buying up those homes just like in Australia so no one will be able to afford a home. The establishment destroyed the small landlords. All that is left is corporations. You will pay more with less competition. Finding a rental house in the months ahead will be hard. The landlords will raise the rents by 50% and wait months for the perfect tenant . And Wait till the rent moratorium ends as bankruptcies rise among landlords and the banks force Biden's hand. Lower end of the economic ladder will be turfed out in the dead of winter and will be completely priced out of the market. Inventories will rise but demand is still very high. If anything, rents will rise because of the new risk of eviction moratoriums. Remember, the moratorium remains in effect after it was declared unconstitutional. The eviction moratorium changed landlords' risk structure dramatically. Federal agencies now have the apparent power to impose such a moratorium with impunity, on whatever pretext they can invent, and the Supreme Court will do nothing. Who knows, maybe state agencies can do that too. We've crossed the Rubicon. The risk that the landlord may go unpaid for months or years on end is going to be priced into rents going forward. These properties will mainly get purchased by BlackRock, Vanguard, even Goldman with Fed cash tomorrow at 25% over the ask that will outcompete any ordinary person's paltry mortgage contingent offer in 45-60 days. Some Blue States are almost beyond fail-safe, meaning they are reaching the point of not being able to keep pumping out a sinking ship. The Rent is too damn high. Rent prices are rising, and more Americans are struggling to pay their rent. Make no mistake about it. History will recall baby boomers as the generation that destroyed western civilization. And anybody paying attention knows that western civilization is in decline, and on it's way out. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to hit the like button, hit the subscribe button, and don't forget to also hit the notification bell. Thank You. When 2010 New York State gubernatorial candidate Jimmy McMillan branded his campaign with “The Rent is Too Damn High,” the phrase became a viral sensation. In many cities around the country, the rent is, indeed, too high! There is no city in America where a family of four with two adults earning minimum wage can afford an apartment. What is causing this rent unaffordability? I'd say it is a combination of lack of supply as the supply overall has not been keeping up with the population growth. With millions and millions of migrants legal and illegal. Landlords in the big cities prefer to list their properties on Airbnb rather than rent it on a monthly basis. Foreign speculators buy out whole floors through proxies. Economic immigrants back door their way into affordable housing. Elected officials turn a blind eye for reasons, and everybody hopes for the best. The free market is good, but this is outright just one-sided trade deals for goods and services. Time to think about who is really in charge of your productivity: YOU OR THEM. Rents keep going up also , because property taxes keep going up, municipal employees giving themselves fantastic salaries, pensions, and health benefits. The government keeps talking. But wages are stagnating. Something's got to give. Ownership is deliberately becoming out of reach for many, while rent is all that is left. And even if you buy a home, you never own it. You just rent from the state and county. All the upkeep and the improvements are for their benefit only to raise taxes. Stop paying the property taxes after you pay off your mortgage, and they'll show you who really owns the property. Rents never came back down after the housing crisis because of the Fed. Monetized the banks' debt and even paid them 25 basis points on their excess reserves. People who are not landowners keep voting in more taxes, and the list of why higher rents are needed goes on and on. Renters can be destructive if they get evicted for nonpayment of rent. This also adds to the cost of renting to people. You have to, by law, repaint the unit and have carpets cleaned every time the unit is vacated. Carpets often need to be replaced. Fixing up a unit after a careless renter can cost thousands, and the chances of recouping that are very low as the cost to go after them can outweigh the benefits, and even if you get a judgment, you may never see the money. Often the damage does not stop in the unit. It often spills to the outside also. This can include damage to garages, sheds, and oil stains that must be power washed to make the unit appealing to new prospective renters. Because of discrimination issues, it can be hard at times to keep individuals you may not want as renters out of your units. We will continue to see rents increase due to the lack of morals in the upcoming generations. With single-family homes, no sense of the Creator, liberal schools, a lack of discipline, and a public media system that creates strife, this all equates to horrid people overall and thus higher rents due to the people they bring. High rents are caused by the Fed pumping housing sale prices. The rich pay more, buy more housing, and charge a higher rent. QE pumps asset/stock prices, and the lower classes pay more rent. Renters don't see it. If they did, they would be screaming for: 1. Interest rates at 6%+. 2. Public unions disbanded. 3. QE unwind accelerated. 4. Bankers in jail. 5. Mark to market. Foreclosures completed within 60 days. 6. fire 90% of government workers. Getting rid of the public sector unions is necessary too, but it is not enough. We have to dump the non-productive public sector now so that the private sector can allocate the capital to produce actual wealth instead of merely transferring wealth from the private sector to the public sector. 7. eliminate most of the crazy building codes that make it unprofitable for developers to build anything but high-end luxury rental properties. Ironically in the cities with the highest rents, homelessness is exploding. In fact, this unaffordability also leads to a rapid increase in homelessness. Did not Thomas Jefferson warn us before? He said something like one day you're gonna be homeless if you let the bankers control money. That's it.
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