Pittsburgh landlords sue the city over eviction moratorium

[General Mills]

The gov't has programs that will help cover those mortgages. Have you applied to them? Where you denied? Did they not cover enough of your expenses?

It’s not even the mortgage. There is no mortgage. House is paid off. As a favor to my uncle my parents rented to them 8 years ago. They had terrible rental history. Nice house in a great neighborhood. They really wanted their son to go to the school district because they wanted him to be seen.


Lo and behold he does get seen. Gets a full ride to college. Gets drafted last year by the nfl. Buys his whole fam chargers and challengers. Driveway has about 150 grand in it at any time.


My parents have been charging them 800 a month for a 250 grand house for 8 years. Never raised the rent. Once Corona popped off they decided they do not have to pay rent. Ducked my parents calls. Won’t answer when my pops goes to collect. By the time my parents finally let me know they had not paid in 5 months

Got a eviction lawyer on the case. The renters got a lawyer too and are hiding behind Covid. It’s allowing them to stretch this out wayyy longer than it should be.


We can get some other renters in there. But they are hell bent on not paying even though they can.

 

[Secure Da Bag]

It’s not even the mortgage. Their is no mortgage. House is payed off. As a favor to my uncle my parents rented to them 8 years ago. They had terrible rental history. Nice house in a great neighborhood. They really wanted their son to go to the school district because they wanted him to be seen.


Lo and behold he does get seen. Gets a full ride to college. Gets drafted last year by the nfl. Buys his whole fam chargers and challengers. Driveway has about 150 grand in it at any time.


My parents have been charging them 800 a month for a 250 grand house for 8 years. Never raised the rent. Once Corona popped off they decided they do not have to pay rent. Ducked my parents calls. Won’t answer when my pops goes to collect. By the time my parents finally let me know they had not paid in 5 months

Got a eviction lawyer on the case. The renters got a lawyer too and are hiding behind Covid. It’s allowing them to stretch this out wayyy longer than it should be.


We can get some other renters in there. But they are hell bent on not paying even though they can.

Fair enough. But that gov't does have a program to cover you if the renters can't (don't) pay. Don't they?

 

[ogc163]

Where did I say that?

For the record, motherfukk corporate landlords. I'm sympathetic to mom and pop landlords but only up to a certain point, and definitely not over tenants.

I do realize that some landlords live in their own house. Mine does (God bless her). But the fact of the matter remains that if you need the tenant's rent to stay above water then you are in a risky situation.

I agree the state should deal with homelessness.

Regarding the stock market, what has it become? It's more of a guarantee for building wealth than real estate IMO. Assume an average of 10% from an aggressive ETF, that beats most real estate scenarios. I think us black people prefer our investments to be in something tangible (hence real estate) but few talk about the downside risk.

The data has been clear, in general real estate is not a good investment for Black folks.

 

[88m3]

Fair enough. But that gov't does have a program to cover you if the renters can't (don't) pay. Don't they?

Not really, there are loans you can take out.

 

[88m3]

The data has been clear, in general real estate is not a good investment for Black folks.

if it's about the thread you made that data seemed highly flawed

 

[ogc163]

if it's about the thread you made that data seemed highly flawed

Elaborate on how it was flawed.

 

[Secure Da Bag]

Not really, there are loans you can take out.

Oh. Well then you're fukking over the landlords. As a renter, I can empathize with other renters, but I can't pretend I don't understand the position of the landlords either.

 

[88m3]

Elaborate on how it was flawed.

The data from earlier decades will heavily skew the current environment...

 

[ogc163]

The data from earlier decades will heavily skew the current environment...

I have no reason to think they couldn't control for that in their data.

 

[88m3]

Oh. Well then you're fukking over the landlords. As a renter, I can empathize with other renters, but I can't pretend I don't understand the position of the landlords either.

Electric, gas, water, property/school taxes, and mortgage are all still due...

In theory you can put your mortgage is forbearance but you're still going to owe that money and possible in a lump sum. You probably can't re-fi if you do it. Your bank probably won't want to deal with you if you do put a loan in one of these programs in the future either.

 

[88m3]

I have no reason to think they couldn't control for that in their data.

We're practically living in another reality. I don't think so.

 

[ogc163]

We're practically living in another reality. I don't think so.

What thread are you referring to?

 

[the cac mamba]

i still cant get over the government forcing landlords to renew leases fukking disgusting

theres not a tenant on the planet who has the right to demand or expect their lease is getting renewed. why the hell should that change because of covid?

 

[NkrumahWasRight Is Wrong]

Electric, gas, water, property/school taxes, and mortgage are all still due...

In theory you can put your mortgage is forbearance but you're still going to owe that money and possible in a lump sum. You probably can't re-fi if you do it. Your bank probably won't want to deal with you if you do put a loan in one of these programs in the future either.

People think the mortgage payments just get delayed and pushed back..not that they continue to accrue interest with a forced balloon payment on the end people are better off selling their property in this market than doing that

There are quite a few people that bought property and then rent it out..then rent themselves elsewhere to pocket a little extra change a month. Generally speaking, I think the word landlord has some sort of negative connotation related to the horror stories of rich slumlords which do exist in spades. I dont feel bad for them since they have been getting away with shyt for years. But I do feel bad for the other property owners who are getting their rights infringed upon. If there is a downside risk to their investments, which there is, then there is a downside risk to spending any money including rent. Move back in with family and save money, get an extra or different job, or cut down on spending and use UI bonuses to pay bills.

How many of these millions have two adults in it collecting unemployment bonuses? Let's say that's 1k a week combined. How can they not pay the rent? These people are simply choosing not to because they dont have to.

 

[dora_da_destroyer]

lol @ believing all these people are gonna actually make good on back rent. if they can't pay their 800-2000/month, they'll all of a suddenly have 5-20k in back rent?

anyway, some places like CA, where it was already a year long process to evict someone for just cause, went too far with these moratoriums. at min, requiring some proof of impact would've at least ensured it was tenants who actually need the protection receiving it.