Nearly 12 million renters will owe an average of $5850 in back rent and utilities by January.
Meanwhile, Mitch McConnell and Senate Republicans are focused on protecting corporations from liability if their employees get sick.
Georgia: Flip the Senate. We can't go on like this.
— Robert Reich (@RBReich) December 7, 2020
There is no way that those people can pay that back.
There will be outrage if these people are ever evicted. Any sheriffs or police who try to carry out an eviction will be met by a mob.
The landlords will default on their mortgages and go bankrupt.
The rental market in America’s urban areas will implode as people won’t leave apartments they don’t pay for.
The fix will be the government obtaining these properties from the banks on the cheap, effectively nationalizing apartment rentals in big cities.
From there you can only imagine other people wanting their apartments nationalized so they can pay lower government rates instead of higher for-profit rates.
I expect the Squad to put out a bill to nationalize these apartments so people never get evicted in the next couple of weeks.
We will have gone from the strongest economy in a generation to Khrushchyovka in a year because of COVID.
How did America become the Soviet Union, slowly first, then all at once.