The moratorium on evictions ended on Saturday July 31st. It cannot be legally extended. And on Wednesday Aug 4th, the President of the United States extended it anyway. We are going to talk about that today on Flipping America.
I thought the eviction moratorium was a brazen and illegal power grab when Mr. Trump was President. I continue to believe the same under Mr. Biden. The CDC has overstepped its authority. This is now an established fact - all the way to the Supreme Court. Mr. Biden acknowledged this in his statement regarding the continuation of the ban, noting that the Supreme Court would almost certainly overturn this. But he hoped that in the meantime more aid could get to those who need it to pay their rent. I can’t help but think about what the result would be if I held a press conference and said, “I know that what I’m about to do is illegal, but it’s ok. I mean well. And when the judge tells me to stop I will.” Yeah. Well, we already know that our elected officials are usually held to a different standard - meaning no standard at all.
So here’s what we are going to talk about today:
Why is the ban on evictions unconstitutional and likely illegal?
What are the implications of the President’s lawlessness?
Who are they really trying to help with the ban on evictions?
Who is being hurt by the ban?
Why has the government only 10% of the $46.5 billion in relief funds?
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News and Resources: - The eviction moratorium is over. https://www.realtor.com/news/trends/eviction-bans-expiration-leaves-renters-in-south-appearing-most-vulnerable/
- Or in other words - you don’t want to own rental properties in these ten states. https://www.cnbc.com/2021/08/02/some-states-will-continue-to-ban-evictions-.html
- The law says you can’t. Our President says, “oh yeah?” https://www.wsj.com/articles/joe-biden-lawless-eviction-ban-centers-for-disease-control-and-prevention-moratorium-11628115210?mod=opinion_lead_pos1
- They claim to care about the “little people” but no one cares about mom and pop producers. https://www.wsj.com/articles/the-eviction-ban-has-to-end-sometime-tenants-landlords-joe-biden-nancy-pelosi-11628029263?mod=opinion_major_pos1
- And there was rejoicing in the land! (among tenants) https://www.cnn.com/2021/08/04/homes/renters-relieved-eviction-ban-extended-feseries/index.html
- If you’re wondering whether you are protected by the ban… https://www.cnbc.com/2021/08/04/are-you-protected-under-the-new-eviction-ban-what-you-need-to-know-.html
- Groups representing landlords are suing to stop the ban. https://www.politico.com/news/2021/08/04/landlords-legal-challenge-biden-eviction-ban-502513
- The Law, if you want to read it for yourself (large file - long load time). https://www.govinfo.gov/content/pkg/USCODE-2011-title42/html/USCODE-2011-title42.htm
- Shorter version - just the pertinent section: https://www.law.cornell.edu/uscode/text/42/chapter-6A
Questions from Listeners: Starr’s Questions from RILA: - Talk about the "BRRRR" method : Buy,rehab,rent,refinance, and repeat method...should beginners use this strategy?
- I have had contractors run off and not finish the job but was paid for it...Roger, what are some tactics you use with contractors?
- A lot of investors are moving into the airbnb market...Is this something you would consider or recommend?
- What are the benefits of building a relationship with lenders?
- I’m not having any luck with door to door...Do you recommend cold-calling for finding properties?
Mindset Moment: Motivational Quote: “You won’t grow wealthy by demanding more pay. If you want to grow wealthy, make yourself more valuable."