Last week, the nation’s Capitol was awash in moratorium fever, and not even a cowbell would have quelled it. House Democrats started beating the drums about the end of the eviction moratorium put in place due to COVID-19 and told us it was important that it get extended by the end of July. Of course, they knew about this in June, but they just had to get it taken care of with mere hours to spare.
Any parent who has worked until 2 AM on a science project due later that day for a son or daughter knows this feeling.
As much as I would love to dunk on the process in this case, the actual subject of this piece is the eviction moratorium itself. What started off as an act of kindness in the midst of a fracking pandemic has become a hot button issue where very few people pushing for the moratorium extension have fully thought out the implications. (I know. I’m as shocked as you are that a dumb Leftist idea wasn’t planned.)
The eviction moratorium seeks to forgive past due rent due to the economic impacts of the pandemic. With businesses either slowing down or going out of business altogether, it made sense to allow some flexibility. The only problem with that is some people will take advantage of it. What was considered a safety net was quickly and easily turned into a hammock, all with the help of people like the Leftists pushing to extend the moratorium. Between the handful of economic relief checks and the changes to the unemployment process, it became easier and more profitable to sit at home and let the government take care of the details than it was to find a new job.
Oh, and to spend the “free” money on big-ticket items instead of, you know, paying the rent as outlined in the rental contract.
Wait a minute…am I saying the renters had to sign a contract to live in someone else’s property? Yes, yes, I am. Maybe they didn’t cover this at Leftist colleges and universities, but a rental agreement is a contract and getting Big Daddy Government to step in on your behalf doesn’t negate the contract. At least, not yet. If Leftists get their way, the federal government will be able to undo any contract it wants, even ones they’re not a party in. That in and of itself should scare you, but if not, I can put on a Frankenstein’s Monster mask and say it because, damn it, I care.
But this has a much larger impact than what the Left want to believe. Instead of sticking it to landlords, who are often regular people instead of megacorporations, the moratorium extension has the power to make it so the megacorporations get to own more rental property. Here’s how. When you are the owner of rental property, your income is dependent upon rental income coming in on a regular basis. COVID-19 put a King Kong-sized monkey wrench into this situation. Instead of being able to count on rental income, the owners either had to take the lumps without expecting to get paid or wait for a government bailout. And since the latter doesn’t quite fit with the Left’s strategy or their understanding of basic economics, the landlords had to eat the losses. Great if you’re a renter struggling to find a use for a Bachelors degree in Albino Native American Feminist Slam Poetry Studies, but bad if you’re the landlord.
If the moratorium becomes a permanent thing, it’s likely fewer people will rent out properties, provided those properties aren’t foreclosed upon due to…non-payment! Once the properties get foreclosed, usually anybody can snatch it up including a little organization called BlackRock. BlackRock just happens to be one of the largest property management companies in the country. Oh, and I forgot to mention they have former employees working in the Biden Administration as economic advisors after serving in government roles under President Barack Obama.
Scummy as hell, but hey. No mean Tweets, right?
Now, here’s the Rod Serling style twist. By pushing for the federal government to extend the eviction moratorium, Leftists are making it possible for a corporation to corner the rental property market. Brilliant! But I’m sure the Socialist Socialite has already figured that out and is lobbying against the moratohhhhh yeah, she’s in favor of it. Just goes to show you people can get a degree in something and still not know a damn thing about it.
Anyway, the Leftists pushing the moratorium haven’t thought through the issue carefully enough to be informed. Then again, that’s never stopped them before, so it’s not that hard to imagine they would spout off about the moratorium without considering the economic and legal implications which will screw over members of their base while enriching at least some of their donors.
At least there aren’t mean Tweets, though, amirite?