Unpaid rent is piling up. Landlords can't hold on forever

submitted by friday2 from cnn.com

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[–]GConly 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (0 children)

Owners also may not be able to pay the mortgage — which, according to Pinnegar's association accounts for 38 cents of every rent dollar. That puts millions of rental units at risk of foreclosure.

Does anyone remember why the credit crunch happened?

A shit load of mortgages defaulted. This is going to start happening this summer, from BTL landlords and homeowners. Hedge funds collapsed, then did some banks. Then all hell broke loose.

Should really hit hard in about six months.

[–]Nemacolin 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

OK. So that being the case, would evictions somehow help the landowners? If not, there seems to be no reason to have evictions.

[–]bjam27 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (1 child)

Of course it would. Then they wouldn't have a parasite attached to them.

[–]Nemacolin 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Well, let's follow your reasoning. Once than bank seizes the landowner's properties, they will be free of a parasite too!