Due to a new law in New York no one can be evicted nor have any negative acts taken against them, even including a negative credit entry, for failing to pay rent or mortgage payments. This law applies to all rents and payments due until May 1, 2021. The law, according to officials, doesn’t absolve people from the debt, merely places it “on pause.” So how exactly can a landlord extract payment if eviction and negative credit reporting is off the table?
So tell me why on earth would anyone in New York pay rent for the next six months? Your average NYC apartment rents for $3,000 or more per month, meaning that New York’s landlords are on the hook for $20,000 or more for EACH rental property that they own.
This is all a part of the Socialists using COVID as an excuse to extract themselves some wealth redistribution.
Wayne · December 29, 2020 at 10:51 pm
How is this NOT an unconstitutional taking under the Fifth Amendment? I would have marginally more respect for the CONgrees if Porkulus 2.0 included some compensation for property owners who are getting bent over.
Divemedic · December 30, 2020 at 1:27 am
Because the law specifically says that the debt still exists, even if the government has removed your ability to collect that debt.
They aren't TAKING your profits- merely taking all of your legal remedies for collecting them.
Wayne · December 30, 2020 at 4:36 am
If you say so. Sounds like toe-MAY-toe, toe-MAH-toe to me.
Divemedic · December 30, 2020 at 5:13 pm
That is the sort of thing that lawyers make their living on- the turn of a single word, the parsing of the English language.
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