CDC Issues Order To Halt Some Evictions Due to Covid-19
No One Knows What That Means, Who Qualifies and What About The Banks?
Cristal M Clark
Today the CDC issued a mandate halting evictions for some who have been affected by the Covid-19 Crisis which left many feeling a chill at the back of the neck.
In order to get assistance, renters earning less than $99,000 per year must report they are unable to pay their rent or are likely to become homeless if evicted, White House officials said.
They must also show that they tried to obtain all government assistance currently available for rent or housing and that they are unable to make payments due to loss of household income, a layoff or extraordinary out-of-pocket medical expenses.
Yet it is unclear how effective the moratorium will be without any extra funding behind the plan.
What it didn’t over was the banks, nothing is stopping the banks from foreclosing on a property where the property owner is no longer able to make payments because of the renter’s who are unable to pay the rent. What’s more is that could destabilize the housing market in a very, very bad way. Landlords in many places have been behind on payments because of the virus as well and it isn’t getting any better with millions still out of work or working a job that doesn’t cover the bills. As states opened, they did so with massive restrictions which meant not all laid off or furloughed workers were able to go back to the jobs they had and for others, where they worked didn’t make it through the country shutting down.
It is not as easy to solve as many think, for renters this basically does nothing to cover any back rent, and for landlords they need that money in order to keep the banks from foreclosing which might not be the worst thing to happen. The cost of living has grossly outpaced wages, this might be something of a lesson learned type of situation. We need to address the cost of living across the US and make some sacrificial adjustments and banks, well they are going to end up holding a lot of bags that are worth more on their books than they truly are.
It’s truly sad to see that within the Trump administration they can’t seem to figure out the economic crisis on all of it’s levels while the rest of us are watching it all and see it so very clearly. The Trump administration haphazardly wants to put a used bandaid on the problem without noticing the other four sides of the equation.
I thought Trump as he likes to brag employs the best of the best, this is a clear indication of how inaccurate that is. They just keep digging the US and her out of work citizens into a deeper hole as the virus rages on rather than look at what other countries have done, countries that opened fully and who are not having issues. You see for some, they realized this is in fact something we must learn to live with and adjust how we live. Here in America Trump and his goons as well as his idiotic supporters can’t seem to grasp the simplicity of learning to live every day life with a virus that could kill them at the drop of a pin.
Cristal M Clark