Tuesday, December 22, 2020

FEDERAL COVID-19 STIMULUS CAN'T STOP KANSAS CITY HOUSING CRISIS 2021!!!

Kansas City property owners confront another horrible year on the horizon as government cash/cheese is unlikely to prevent one of the worst real estate revenue downturns in modern history. 

Money line from a recent report . . .

"The federal stimulus package provides for $25 billion in rental assistance and extends the eviction moratorium currently in place by one month, to January 31, 2021. While preventing evictions during the winter months is a social and medical necessity, without accompanying relief for landlords this provision amounts to a congressional asset forfeiture, requiring landlords to potentially forgo four months of revenue."

Translation . . .

KANSAS CITY PROPERTY OWNERS STAND TO LOSE MILLIONS IN REVENUE THAT WILL CLOSE MANY HOUSING OPTIONS!!!

The money has to come from some where and it looks like small time property owners will shoulder the burden for a cultural shift and push for Americans to make "housing a human right" paid for by any independent operator unlucky enough to play the rental game.

Heck, even Kansas City's Mayor is protesting payment of rent.

Thankfully, we have the help of a local real estate insider to unpack how some of this might play out. Here's the word: 

"Contrary to popular opinion. The real estate market isn't horrible right now. There are a lot of middle-to-high-income properties that are quickly turning over as buyers are quick to lock in and hope to find some kind of hedge against inflation. 

It's the low-income end of the spectrum where all of the misery lies. Despite all of the protesting, evictions are still moving forward and we're seeing a mass exodus to the suburbs and other parts of the city where tenants are doubling up and pushing rental agreements to their limits . . . 2021 is going to be the year of the illegal sublet and couch surfers along with all the misery those situations create. There's still some "hope" because a lot of people are just going to be priced out of homes. Sad as that is, there will be bargains and hopefully people willing to invest in communities rather than just flipping property. 

What's for sure is that if you like where you live now: Do your best to try and stay there . . . "  

Accordingly, we share just a few news links that support this analysis and suggest that next year won't be brighter for the housing game . . . Check-it . . . 

KSHB: KC metro renters, advocates say eviction-ban extension not enough

AFF: A New Congressional COVID-19 Relief Bill and Housing Assistance

Fortune: COVID vaccines are coming—but it might be too late for the housing market

Newsweek: First-time Buyers at Disadvantage as Housing Prices Surge

UST: Will new coronavirus relief package be enough? Black and Latino landlords could lose big

Developing . . .

26 comments:

Anonymous said...

it doesn't pay to pay the rent.

Sorry.

Anonymous said...

That 600 looks like it's getting more expensive every day. I hope most people actually get their check. A lot of folks were screwed out of it last time around.

Anonymous said...

Thanks Trump.

You killed the economy.

Anonymous said...

^^^^

I think you should blame President Kamala. She will have to answer for a lot of these problems.

Anonymous said...

^^^ And yet, you're stupid. Weird.

Anonymous said...

All of the things that you liberals were told would come back to bite people in the ass as a result of the shutdowns that you idiots insisted that needed to be are going to manifest into a nightmare for the people that you pretend to defend.

Anonymous said...

We'd have about a million dead if not for the shutdowns.

Wish you had been one.

Anonymous said...

That number is bullshit and you know it.

Anonymous said...

Deliberately drive the economy into a bridge pillar engineered by the democrat corporate elites to destroy the little man. Suck the cocks of Jinping and each and every member of the CCP by mismanaging the covid crisis, created and unleashed by the Chinese. Have a traitor boot-lick cocksucker career pointy head bureaucrat (Fauci) to oversee everything.
Buy gold, silver and ammo my brothers. Interesting times ahead.

Anonymous said...

I wouldn't be surprised if the aforementioned corporate elites and democrat office holders were in line for transplants from the Chinese organ farms and concentration camps.

Anonymous said...

Got's to love a good ending.......dumb humans.

Anonymous said...

lots of hardships. the intro mentions people doubling up, staying on couches, things to avoid homelessness. that also means kids between school districts, having arguments with pushy residence-verifying educrats, etc. really a lot of hardship and misery going around. also Missouri needs to tighten regulations on debt collectors, they are abusing our courts and people.

Anonymous said...

Trump shut down the stimulus fiasco tonight, as there was too much pork in the plan that had nothing to do with covid like 1.8 billion to Egypt for their military to buy arms and equipment from Russia.... you can’t make this shit up, the dimwits had so much stuff in their unrelated to covid it’s not even funny. Trump flat out told them to get rid of the pork and give Americans more than $600 dollars. Trump is an American hero for standing up to these crooks and liars.

The dimwits are purposely hurting Americans for their own gain. The want China joe to give out the next stimulus so all that idiotic pork and then some can be given away to their friends.

You people don’t matter and you voted for these idiots.

Anonymous said...

They should use that 600 to pay the landlords.

Anonymous said...

11:19 are you serious? That’s one load of crap right there.

KC said...

Hey 9:29, you base your argument on what? Maybe a fat ugly science teacher molested you as a high school freshman and you don't know up from down?

Anonymous said...

11:19 needs to don his gay apparel and go blow Lucas.

Alpinista said...

11:23 Trump had nothing to say about any of this until after the bills were passed. The bill was achieved through old fashion horse trading. Trump's actions will delay any bill being passed, & therefore delay any aid that might have been in it. So, don't blame the Democrats if this gets delayed until after January 20. The Democrats wanted $1200 & the Republicans wanted zero. $600 was the compromise. If you illegally stream video on the internet, this bill makes that a felony with up to 10 years imprisonment. That's a Republican obsession. Democrats are poor slobs who illegally stream music because we don't have any money.

10:24 That's just paranoid bullshit. Shutting down the country kept the hospitals from being overwhelmed.

Trump did this because he could. He's a sociopath. He gets to play the big man & everyone has to dance to his tune.

Why did he wait until now to say he didn't like the bill?

Because he's an asshole.

Anonymous said...

^^^^ Alpinista you pinhead.

Good luck jumping on board that Biden bandwagon. We're headed toward an economic collapse and he's going to own it. The only solution the Democrats seem to have is to print more money and that's not going to last very long.

They better figure out this housing crisis soon, or the conditions of your welfare check will require Kamala to send you a roommate. Be sure to make room.

Homer said...

Enjoy that 600. It'll make great confetti for the new year.

Anonymous said...

@realDonaldTrump points out that the bill also allows stimulus checks for family members of illegal aliens to get up to $1,800. Meanwhile, American citizens only get $600.

Sent it back to Congress and told them to do better.

Anonymous said...

Before this is over, the Democrats will be forcing the landlords to pay the tenants to live in their rentals.

Anonymous said...

Let's go ahead and set up the Humanity Bureau so that we can get started with the Revolution.

Anonymous said...

Kansas City's Mayor is protesting payment of rent.

Lucas lives in a building owned by the city of KCMO.
The building is exempt from property taxes.
The building is managed by a St. Louis-based real estate investment/management corporation with a history of donating campaign cash to KCMO politicos.

The Mayor of KCMO doesn't even own any real estate in KC, he's not committed to the City.

Anonymous said...

It is inhumane to evict deadbeats in the winter because it is so cold, in the summer because it is so hot, in the fall because it is so in between and in the spring because it's raining.

Anonymous said...

Why does anyone think housing is a right? Where is that written?