The Dam is Starting to Fail- Federal Judge Invalidates Foreclosure/Eviction Moratorium

Well, this could well be the straw that breaks the camel's back.
www.reuters.com...

A federal judge on Wednesday threw out the U.S. Centers for Disease Control and Prevention’s nationwide moratorium on evictions, delivering a setback to Americans hit hard financially by the coronavirus pandemic.

Washington-based U.S. District Judge Dabney Friedrich said the "plain language" of a federal law called the Public Health Service Act, which governs the response to the spread of communicable diseases such as COVID-19, blocked the CDC's moratorium.

The moratorium had been scheduled to lapse on June 30.

The National Association of Realtors told the Biden administration in January that 40 million Americans had fallen behind on rent, with $70 billion of missed payments by the end of 2020.

Things are about to get real sketchy, real fast. The federal debt limit reinstates on July 31 and will reinstate at the precise level of national debt on that date barring Congressional action. Congress is likely now going to be dealing with millions of foreclosures and evictions requiring massive federal spending to prevent while in a contentious debate over exactly how to prevent that when the debt ceiling effectively blocks executive actions from addressing the problem.

This seems to be a perfect storm brewing and the government essentially caused it all by overreacting to COVID while also attempting to use it as an excuse to build a wish list of spending projects and social programs that are now trying to pull the whole damn country down to the bottom.

originally posted by: burdman30ott6
This seems to be a perfect storm brewing and the government essentially caused it all by overreacting to COVID while also attempting to use it as an excuse to build a wish list of spending projects and social programs that are now trying to pull the whole damn country down to the bottom.

It used to be that the 'reward' was doing things right like paying your mortgage.

Now you just have to sit back and let someone else foot your bills.

a reply to: AugustusMasonicus

We call that reward "privilege." The privilege of actually have to pay your way through this life, working hard to earn what you use to pay that way... now we privileged folks also have to work a little harder because we're also tasked with paying for others' way through life (not to mention we're privileged to be working and paying for the Kept Voters of the nation's overlords).

a reply to: burdman30ott6

How many of the people behind on rent were collecting the extra $600 a week in federal unemployment and simply opted not to pay their rent? I'd bet that number is pretty large.

a reply to: burdman30ott6

I may be strange but I like paying my bills, it means I earned my money and can be self satisfied that I'm not a parasite.

a reply to: AugustusMasonicus

I don't *like* paying my bills, but there's definitely a feeling of accomplishment each month after I have paid them. It's actually part of why I don't do auto bill pay... I tried it for awhile and found it lacked the feeling of satisfaction that actually putting a few minutes each month into reviewing the bill and making the payment gives me.

a reply to: burdman30ott6

Doesn’t matter. Laws aren’t followed anymore. Congress does whatever the hell it wants. The courts do whatever the hell they want. And the illegitimate and illegal President is legislating from the executive branch, which of course isn’t supposed to happen.

I’m not trying to be a doomer like DBCowboy, just being realistic.

a reply to: burdman30ott6
This undoubtedly will end at SCOTUS. Plenty of cases around the country that some judges have upheld and some have successfully challenged. The main difference on this case is that the judge issued a nationwide ruling that will probably be overturned in appeal paving the way for SCOTUS. Pretty positive that SCOTUS will upheld the challenge though.

The only ones I personally know who are tapping into that no forclosure and no eviction legislation are people who have been evicted before for not paying their rent or were probably going to lose their house before the pandemic because they were so far behind on the payments. The strange thing is they were making more on the unemployment booster and unemployment benefit than they made while working on their job and never paid a cent on their house or apartment. I am sure there are some legit cases of people who got badly effected by the covid shutdown, but I don't personally know of anyone with a legitimate reason. They boosted accessability to medicaid and raised food stamps and allowed lots of people to get a livable welfare check, but those I know who were collecting on the eviction stuff, were all making more than they originally did before the covid. There are people that will abuse charity every time they get a chance. I even knew of a few people who were selling their food from foodstamps to buy beer and go to the bars over the years.

Once this moratorium expires you're going to see the dollar crash harder than Paul Walker's Porsche.

And people wonder why cryptos are going sky high? They're not. It's actually the opposite, unmanipulated currencies like most cryptos are stable with modest gains only because more people get into them causing a natural scarcity, it just looks like they're increasing in value like crazy because of the dollar crashing in comparison. Or at the minimum, speculation that the dollar will crash very soon. And this is just the sort of trigger to do it.

I know where I'm parking my hard earned money and it's not in US$.

originally posted by: Subsonic
Once this moratorium expires you're going to see the dollar crash harder than Paul Walker's Porsche.

Ouch...that's cold! Paul Walker was my wife's hall pass, so she's stuck. Luckily I chose Jessica Alba.
Ditto with the crypto. If I invest anymore, my wife will probably divorce me.

originally posted by: AugustusMasonicus
a reply to: burdman30ott6

I may be strange but I like paying my bills, it means I earned my money and can be self satisfied that I'm not a parasite.

Unlike the parasites who are refusing to pay their rent

a reply to: burdman30ott6


Started already in Oz - and yet all our Capital cities are seeing huge surges in prices on used housing

thewest.com.au...

www.smh.com.au...

Sydney and Melbourne property prices slow after record-breaking boom

a reply to: AugustusMasonicus

Good point, look at the GFC of 2007. Same pricks went back and bought the assets after being bailed out by the Govt; "too big to fail" bullsnip

It's not a dam. It's a house of cards or a line of dominoes. Maybe a house of cards at the end of a line of dominoes ...

Joe is renting from Bob. Joe has not paid rent for ages because the CDC said he didn't have to.

Bob pays the mortgage on his rental property with the rent that Joe gave to him every month. Bob has not paid mortgage because the CDC said he didn't have to and Joe wasn't paying his rent, so he really didn't have the money to make the monthly payments anyway.

On June 30, Bob goes to Joe and says, "I want my 12 months back rent." Joe says, "Sorry, I ain't got it." Bob says, "Buh-bye, Joe," and Joe is left out in the street with his family.

The bank that holds Bob's mortgage goes to Bob and says, "Where are your mortgage payments?" Bob says, "Joe didn't pay, so I can't pay."

Bank forecloses on Bob. Bank is left with massive amounts of properties that are underwater because the whole market has crashed.

This'll make 2008 look like a Sunday School's cookie and milk fund got dipped into by a greedy third grader.
:

a reply to: KansasGirl

Laws aren’t followed anymore

Of course they're not

www.abc.net.au...

Indian travel ban headed to court as Australian stuck in Bangalore launches legal challenge

2 lawyers are doing it Pro Bono for the 73 year old

originally posted by: Subsonic
Once this moratorium expires you're going to see the dollar crash harder than Paul Walker's Porsche.

Based, cheers!

Some people think the world owes them just for being born. When enough of them get together with guns, you get communism.

On the other hand, this is partially the government's fault for closing down American business.

a reply to: incoserv

This'll make 2008 look like a Sunday School's

You're probably right. Will the the Governments have the printing presses still working overtime though?

budget.gov.au...#:~:text=

The Government is committing an additional $25 billion in COVID-19 response measures. This brings the Government’s COVID-19 Response Package since the onset of the pandemic to a total of $198 billion, including $184 billion in economic response measures and $14 billion in health response measures.

No countries left without a Fed Reserve not under the control of the Rothschilds to invade by the "Coalitions of the Dumb Witted" - so Hunger Games here we come

a reply to: incoserv

Bobs a slumlord, who bought cheap houses back in 08, preying on those who fell behind and foreclosed. Bob can eat sh1t, karma is a bitch.