Evictions BANNED Again (Details)

hey everyone kevin here well the

government strikes again the cdc has

just extended the eviction moratorium

for somewhere between 80 to 90 percent

of folks potentially affected by

evictions

this obviously has implications for real

estate now let's get into the update i

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okay so let's talk about this new

19-page

cdc order that came out it's also worth

noting kind of what led up to the cause

of this

the congress over the last year has also

authorized over 46

billion dollars of rent relief that 46

billion dollars came in the december

stimulus package

and in the february stimulus package

that's the 600 check one and the 1400

check one well unfortunately states

have received this money from the

federal government they received it

pretty quickly

but states mostly allocated the rent

relief processes either through their

antiquated processes or to

local governments either cities or

counties throughout the country

and a small fraction of rent relief

money has actually gone out only about

three billion dollars of the 46 billion

dollars of rent relief money

has gone out to people who need it so

all of a sudden you have congress

who provided 46 billion in rent relief

but only 3 billion has actually gone out

to help people that's 6.5

that's pretty miserable california is no

exception california got

5.2 billion dollars of rent relief and

they've

only given out about 6.1

as of last month which is pretty

miserable

that state governments have had this

money for up to seven months now

and they've gotten out fractions of a

percent of the money

so this is not an example of congress

failing people

this is an example of state and local

governments failing people

failed leadership failed politics failed

policies

and failed systems something that quite

frankly

i think blockchain could help solve

quick

efficient payments through something

like ethereum or cardano

transparent you know to reduce fraud and

make payments arrive

faster there are solutions but

definitely what's happening now is not a

solution anyway this has given rise

to well obviously the expiration of

eviction protections on july 31st

which has now led to a ton of new

eviction filings

leading to multiple millions of

individuals potentially at risk of

eviction

and this is obviously extremely

unpopular and

is being branded as a republican versus

a democrat fight again

there are currently 5.7 million

individuals behind

on rent some states have had longer

eviction protections

but for the entire federal government

eviction protections mostly expired july

31st

now this new cdc memorandum it's 19

pages long

i'm going to give you a quick preview of

what it looks like here

this is a new order their last order was

actually deemed unconstitutional by

the uh by the supreme court but they

just kind of

redid their or their order here to uh

to try to basically say well this is

different

see because this order to halt evictions

has to do with

an unexpected development in the

trajectory of coven

they've also changed some of the burdens

and requirements for tenants so

they kind of just like re-engineered a

different document that the court

didn't really rule against but they

expect this one to be unconstitutional

as well

but because it has to be litigated first

they kind of think that

this will last for two months through

october 3rd

that's when this is expected to expire

and if it makes it to october third hey

well then i guess people got two more

months

where they couldn't be evicted if this

order applied to them and so here's how

this is going to work if

you are in a county with heightened

levels of coveted transmission which

i'll define in a moment

uh evictions shall not occur no one

shall evict a covered person from

residential property so homes

this does not apply to commercial

buildings

any resident of any residential property

however

they must meet the following criteria

the individual tenant who would be

getting evicted has to use their best

efforts to obtain

all government assistance so they

actually have to prove that they're

trying to get rental assistance

they have to have earned no more than 99

000

as an individual or 198 000 filing

jointly

or they were not required to file a tax

return in 2020 or

they got a stimulus check so as long as

you qualify as long as you're trying to

get rent relief

and you qualify with these income

thresholds you qualify for eviction

protections

but you also must qualify with the

following items here

the individual must be unable to pay

their full rent or make a full housing

payment due to the following

and this is a little bit of a bigger

burden than what we previously had in

the prior eviction ban

from the cdc you must prove a

substantial loss of household income

which obviously substantial is debatable

loss of compensatable hours of work or

wages

okay so loss of hours or extraordinary

out-of-pocket

medical expenses or layoffs you must

also use your best efforts

to make partial payments that are as

close to the full payment as the

individual circumstances may permit

this is another thing that's sort of

increasing the burdens on those seeking

rental protections right

they're really trying to narrow this

down to people who really really need

the eviction protections where they're

like please

give me like an extra two months just to

get through the state processes to get

my rent relief money

and everything would be good uh the

eviction would render the individual

homeless

uh and these are these are uh mostly

these are ands

i want to make sure of that penalty of

perjury that yeah these are all

and statements these are not or

statements so you must qualify for all

of these things

if you were to get evicted you'd have to

prove that you're likely to be homeless

or you'd have to live with somebody in

close quarters with somebody else

and the individual resides in a u.s

county experiencing substantial or high

rates of community transmission

this does not apply to guest houses and

to define a substantial transmission

they mean 51

to 100 new cases in a county in the past

seven days divided by the population

multiplied by a hundred thousand or some

of these other metrics

there are some special metrics here so

if you are interested in seeing these

special metrics

well then just take a screenshot of this

right there and you can read it but

honestly it's quite boring so i'm not

going to read it anyway this document

goes on for 19 pages just providing more

background and information but this

order will expire on october 3rd

now if you are potentially a landlord or

you're a tenant experiencing

uh eviction or you need to evict attempt

i highly highly highly encourage you

do whatever you can communicate with

your landlord communicate with your

tenant

communicate with each other apologize

hey i'm

sorry this is a crappy situation what

can we do

to restart and get back on the same page

this is and

and go into this with knowledge like hey

what are

my rent relief options what options do

i have take those rent relief options

and then suggest those to your landlord

hey here's what i'm thinking why don't

we apply together on this why don't we

do this

look you know this is obviously this

throws a wrench in the eviction

processes whatever

i qualify for these seven things i don't

believe

i can be evicted anymore because of this

new cdc thing but hey

i want to work with you i can actually

pay a hundred bucks more this month than

i have been in terms of partial payments

probably paying zero is not gonna fly

anymore so i would do whatever you can

to have an

open dialogue get that rent relief money

a lot of states and localities are

finally doing a hundred percent rent

relief

uh for up to 12 months going back and up

to three months going forward

so you've got some good opportunities to

get that running relief money it's just

a matter of patience and getting through

that stupid state

process or the local county process and

i feel bad for you

because quite frankly the processes have

sucked so

anyway i wanted to give you this update

on what's going on with the eviction

crisis

this does obviously pause a lot of

evictions

and i i expect a lot of tenants who are

currently being evicted will

do whatever they can to qualify under

this protection for the next two months

so it does sort of forestall an eviction

crisis for you know a couple months

but we'll see who knows maybe a court

will come in and strike it down sooner

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thanks for watching folks we'll see in

the next one

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