https://www.marketwatch.com/article...istance-51628802345?mod=mw_latestnews&tesla=y
"Case in point is the $47 billion Emergency Rental Assistance Program. It was created by Congress with the noble aim of helping low-income households hit by the pandemic pay missed rent and utility bills. But it has turned into a devil of a mess."
"By the end of June, barely $3 billion had been distributed to some 630,000 households. The Census Bureau estimates that over seven million households are behind in their rent, with 3.6 million saying they were “somewhat” or “very” likely to soon face eviction. "
Yeah assuming that $47 billion were really distributed successfully to all the renters, how much of that would really be used to pay the rent in arrears and not in Robinhood accounts playing the meme stocks? Instead of giving the money to the renters and then for the renters to give to the landlords, why don't they pay the grants directly to the landlords to compensate for the arrears? So that way, the landlords get paid the rent that was due and the renters won't get evicted naturally and everybody wins. For the same amount of paperwork, documentation, administrative work that is required to process and distribute the money for the Emergency Rental Assistance Program to the renters, it would've been much more effective and efficient to deliver the funds directly to the landlords instead. After all it's the landlords who need to be made whole, not the renters. With the eviction ban, the renters are basically squatting for free. Don't know why nobody can see that.
"In crisis situations, the most vulnerable people who should receive priority help are too often the last in line. We failed homeowners in 2008. Let’s not fail tenants now."
No you are failing the landlords, not the renters. So you are failing the homeowners, again.
"Case in point is the $47 billion Emergency Rental Assistance Program. It was created by Congress with the noble aim of helping low-income households hit by the pandemic pay missed rent and utility bills. But it has turned into a devil of a mess."
"By the end of June, barely $3 billion had been distributed to some 630,000 households. The Census Bureau estimates that over seven million households are behind in their rent, with 3.6 million saying they were “somewhat” or “very” likely to soon face eviction. "
Yeah assuming that $47 billion were really distributed successfully to all the renters, how much of that would really be used to pay the rent in arrears and not in Robinhood accounts playing the meme stocks? Instead of giving the money to the renters and then for the renters to give to the landlords, why don't they pay the grants directly to the landlords to compensate for the arrears? So that way, the landlords get paid the rent that was due and the renters won't get evicted naturally and everybody wins. For the same amount of paperwork, documentation, administrative work that is required to process and distribute the money for the Emergency Rental Assistance Program to the renters, it would've been much more effective and efficient to deliver the funds directly to the landlords instead. After all it's the landlords who need to be made whole, not the renters. With the eviction ban, the renters are basically squatting for free. Don't know why nobody can see that.
"In crisis situations, the most vulnerable people who should receive priority help are too often the last in line. We failed homeowners in 2008. Let’s not fail tenants now."
No you are failing the landlords, not the renters. So you are failing the homeowners, again.
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