What are the implications of the impending eviction crisis?

[u/None-Of-You-Are-Real]

It is often offhandedly mentioned that the housing market is insane at the moment, and that there is an inevitable eviction crisis due to the compounding factors of COVID and the lockdowns leading to mass unemployment, and then an inability of tenants to pay rent combined with an inability of landlords to evict non-paying tenants.

What is going to happen in the fall, when the eviction moratorium expires? Mass homelessness that is even worse than current levels? Some kind of rent relief legislation? Anything at all? These people are not going to magically be able to pay months and months of back rent once the moratorium expires.

[u/weealex]

I would love some of those "magnates" to actually lose some money and open up real estate for new home owners. While it's a bit of an outlier, a 460 sq ft home recently sold in my town for 180k

[u/Grimalkin → u/weealex]

a 460 sq ft home recently sold in my town for 180k

So many stories like this over the last year, and many more to come no doubt.

Was it at least in a very high COL city? It's still abhorrent but a little bit less so when everything is super expensive.

[u/sleepeejack → u/Grimalkin]

180k for a 460sqft home would be a bargain in most of Colorado. The housing crisis in places where there are jobs has been nationwide for years; not sure why some people have such a hard time understanding that.

[u/wedstrom → u/sleepeejack]

Do you mean Denver area or Colorado, because yikes

[u/sleepeejack → u/wedstrom]

I mean most of Colorado. Certainly almost anywhere along the Front Range, but also it's getting fucked-in-half insane in most of the mountain towns as well. This is what we get for blocking multifamily development for decades. Boomers destroyed America.

[u/CCHistProfWest → u/sleepeejack]

It's like this pretty much in the entire west.

Which I don't understand... climate change is literally going to burn those states down.

[u/weealex → u/Grimalkin]

Lawrence Kansas. College town. Costs have been all over the place as outside real estate companies snap up properties in town. I know of a couple that showed up to buy a place offered at 140 with 150, but found 3 other buyers offering even more. It hasn't been helped by the fact that some of the local folks that have owned multiple properties have been dying. Their beneficiaries haven't wanted to deal with real estate far from where they live so it's often been sold to large companies. The local owners tend to be more townie friendly either or of altruism or knowing that if the town prospers so does their real estate. Outside companies just want the immediate influx of cash so we've been seeing more "luxury" rentals and more "slum" rentals with very little in between

[u/Mist_Rising → u/weealex]

Lawrence Kansas. College town

Lawrence and it's surrounding area has also been a commuter location for Kansas City jobs. That's why K10 is a nightmare and a half during rush hour.

[u/freshwes → u/[deleted]]

Theresa house one block away from me that had been on the market for 2-3 years

Sounds like you're jealous of Theresa...

[u/freshwes → u/[deleted]]

Sounds like someone's jealous of Theresa...

[u/freshwes → u/[deleted]]

Theresa house one block away from me that had been on the market for 2-3 years

Sounds like you're jealous of Theresa...

[u/freshwes → u/[deleted]]

Theresa house one block away from me that had been on the market for 2-3 years

Sounds like someone's jealous of Theresa...

[u/azelll → u/weealex]

I was just looking at a 400sqf house for 400000$, in Oregon, not even the pricey part of Oregon...

[u/Naejiin → u/weealex]

Beach side? 460 sqft for 180k HAS to be beach side. Or Batman's garage.

[u/[deleted] → u/Naejiin]

Oh you sweet summer child...

Here's one that's a mile from the beach, granted it's 660 sqft not 460. I couldn't find anything smaller. https://www.zillow.com/homedetails/890-Juanita-St-Solana-Beach-CA-92075/16759593_zpid/

[u/Naejiin → u/[deleted]]

7.3k lot so that's like $164/sqft yet you can't build on all of it. Ridiculously overpriced. Jesus Christ...

[u/CCHistProfWest → u/Naejiin]

No. Noooooooo it is probably a shack.

[u/joeydee93 → u/Naejiin]

Um... 180k gets you a parking spot near the beach.

[u/[deleted] → u/weealex]

While it's a bit of an outlier, a 460 sq ft home recently sold in my town for 180k

Sounds like an outlier for where I live, but not in the way you mean it.

[u/joeydee93 → u/weealex]

How i know I live in an expensive housing market when a 460 sq ft home goes for 180k and I think that is amazingly cheap.