Written by Dave Corsi, President of MREIA (Metro Real Estate Investors Association)
Senator Elizabeth has introduced a bill that would extend a nationwide eviction moratorium as the current eviction protections in response to the coronavirus pandemic near expiration.
The Massachusetts Democrat’s bill, the Protecting Renters from Evictions and Fees Act, would extend eviction protections until March 27 of next year and would apply to nearly all renters and landlords. The measure would also prohibit fees, fines, and extra charges due to non-payment of rent and require landlords to give tenants a 30-day eviction notice after the moratorium expires.
The bill extends and expands the current 120-day eviction moratorium that was included in the $2.2 trillion CARES Act, a massive spending package intended to buoy the flagging economy amid the pandemic. Those eviction protections are set to expire on July 25 and applied to only renters in federally assisted housing.
An even larger $3 trillion coronavirus stimulus package, the HEROES Act, which passed the House but has stalled in the Senate, includes an eviction moratorium similar to the one in Warren’s bill.
A Call to Action
As much of the nation and the world has recently discovered, “trickle down” economics and cash flow are the lifeblood of commerce. Let one part of the system get stuck and everything goes out of kilter. Let cash flow dry up and within days a so-called “strong economy” will be on its knees.
“Trickle down” economics was misunderstood and derided for years by its’ detractors. It was supposedly all about tax breaks for the rich” that would “trickle down” to the masses in the form of consumption and investment, thereby increasing business activity, jobs, etc.
But it was always about much more than tax breaks for the rich. It was about having a tax code that encouraged investment and keeping the rich from putting their money into useless tax shelters or hoarding their money to the point were the economy was stagnant.
But the economically illiterate never understood that, as many of them hold political office and were busy engaging in class warfare designed to keep voters beholden to them, thereby ensuring their re-election.
One of those “deep thinkers” a.k.a. “anointed intellectuals” (as the great economist Thomas Sowell derisively calls them) is Senator Elizabeth Warren.
One week ago Senator Warren introduced into the US Senate legislation that will effectively stop an eviction for non-payment of rent through the end of April 2021. And I am sure they will look to extend it at that point. The Legislation is entitled; “Protecting Renters from Evictions and Fees Act of 2020”.
The bill’s stated aim is to provide a temporary moratorium on eviction filings, and for other purposes through March 27, 2021 and then a minimum of 30 days must pass until an eviction can be heard, meaning May 2021 is the earliest an actual eviction case will be heard.
There will be an election coming up in a few months. Start thinking long and hard about the candidates you vote for. I am going to be blunt.
So many times I have had discussions with people who tell me what they believe, mostly claiming to believe in the free market and limited government.
Then they tell me who they either voted for or plan on voting for. In far too many cases the person they voted for policies, votes and actions are diametrically opposed to what they believe in.
Centralized planning does not work 90% of the time. Very few, if any, times has centralized planning worked. A lesson that should be obvious when you see all the failed attempts at it throughout history such as Soviet Russia, Communist China, China, Czarist Russia, Colonial Jamestown, just to name a few.
One thing to keep in mind, many consumer products (computers, refrigerators, televisions, etc.) that are produced by the private sector have declined in price indexed for inflation. Anything that the government and their cronies’ control (health care, legal services, taxes) has skyrocketed in price well above the inflation rate.
Politicians who have spent their careers buying votes is the reason we are $23 trillion and counting in debt as a nation. We have allowed politicians whose whole objective is to be re-elected to use their office to buy votes.
Peter Sweitzer wrote a great book entitled Extortion. That will be MREIA’s “Book of the Month” for July. It can be found on Amazon and in many public libraries. I urge you to read it so you understand the game and what is being done to you.
Back to Senator Warren’s Bill and the practical side of it. What about all those landlords who need the rent to pay their expenses, bills such as mortgage payments, taxes, insurance, utilities, repairs? And what if the landlord’s income is dependent on receiving rent, money that they use to buy food, insurance, and shelter?
Do you think that prohibiting landlords from receiving rents may cause a decline in the number of affordable housing units? You betcha!
Think investors will stop making mortgage and property tax payments if they are not receiving their rent?
Anyone remember 1987 and 2008?
What will happen to repairs being made if no rent is coming in?
What will happen to the value of rental property if the income dries up?
Elizabeth Warren does not care about the cash flow problems that will confront real property owners, the mark of a true ivy tower elitist.
Why doesn’t Senator Warren consider a moratorium on her cash flow business, namely the paying of taxes? How about legislation where the American taxpayer’s taxes are put on the same moratorium time schedule, with no penalties and fees added? And the IRS will not be allowed to file any charges or conduct any audit for the same time period.
Let’s see how serious Senator Warren and the other “public servants” are about their concern for the American people.
The truth is that Senator Warren and her elitist friends’ real objective is to get more Americans addicted to government, meaning she and her cronies will then own you.
I am respectfully requesting that each member of MREIA and all your family members contact your Senators and Congressperson and let them know how you feel about this legislation. And get your friends and acquaintances on board as well.
You see, if cash flow stops in one area it will affect other segments of the economy, which means a lot of corporations may not be able to weather the storm, leading to bankruptcies and defaults in pension plans.
So many people who think they have no interest in this matter will find they are sadly mistaken.
In a few days MREIA will be sending out a sample letter / petition that will take just a minute to let your representatives know how you feel. This is important, much is riding on this legislation being soundly defeated and these economic fascists finally being called out.