Current Events > Goldman Sachs estimates 750k households face eviction after ban overturn

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Antifar 08/30/21 4:12:25 PM #1:	https://www.cnn.com/2021/08/30/business/household-evictions-goldman-sachs-warning/index.html Goldman Sachs estimates that between 2.5 million and 3.5 million households are significantly behind on rent, owing a combined $12 billion to $17 billion to landlords. Those renters appeared to be safe from eviction until at least October until the Supreme Court last week struck down the Biden administration's ban on evictions, indicating that further action must come from Congress. At the same time, most state-level restrictions on evictions are scheduled to expire over the next month, which the Goldman Sachs analysts noted in the Sunday night report. "The end of the eviction moratorium is likely to result in a sharp and rapid increase in eviction rates in coming months unless Emergency Rental Assistance (ERA) funding is distributed at a much faster pace or Congress addresses the issue," the report said. Without faster aid or new legislation, Goldman Sachs estimates 750,000 households will face eviction this fall and winter. The Wall Street bank noted that roughly half of all US eviction filings resulted in eviction between 2006 and 2016. Part of the problem appears to be trouble getting government aid out the door. The process of recovering back rent through the emergency rental assistance program has been "disappointingly slow," Goldman Sachs analysts wrote. Even though the US Treasury Department has dispersed $25 billion to state and local governments and has another $20 billion available just $4.5 billion has been distributed, according to the report. The Census Bureau estimated last week that about 1.3 million people are very likely to get evicted in the next two months. That same report estimated that more than 2.2 million people applied for rental assistance through state or local governments and either did not hear back or were denied. --- kin to all that throbs <cite>Antifar posted [p:957583830] in Goldman Sa... [t:79638689]...</cite> <quote>https://www.cnn.com/2021/08/30/business/household-evictions-goldman-sachs-warning/index.html <quote>Goldman Sachs estimates that between 2.5 million and 3.5 million households are significantly behind on rent, owing a combined $12 billion to $17 billion to landlords. Those renters appeared to be safe from eviction until at least October until the Supreme Court last week struck down the Biden administration's ban on evictions, indicating that further action must come from Congress. At the same time, most state-level restrictions on evictions are scheduled to expire over the next month, which the Goldman Sachs analysts noted in the Sunday night report. "The end of the eviction moratorium is likely to result in a sharp and rapid increase in eviction rates in coming months unless Emergency Rental Assistance (ERA) funding is distributed at a much faster pace or Congress addresses the issue," the report said. Without faster aid or new legislation, Goldman Sachs estimates 750,000 households will face eviction this fall and winter. The Wall Street bank noted that roughly half of all US eviction filings resulted in eviction between 2006 and 2016. Part of the problem appears to be trouble getting government aid out the door. The process of recovering back rent through the emergency rental assistance program has been "disappointingly slow," Goldman Sachs analysts wrote. Even though the US Treasury Department has dispersed $25 billion to state and local governments and has another $20 billion available just $4.5 billion has been distributed, according to the report. The Census Bureau estimated last week that about 1.3 million people are very likely to get evicted in the next two months. That same report estimated that more than 2.2 million people applied for rental assistance through state or local governments and either did not hear back or were denied.</quote> </quote> ... Copied to Clipboard!
CADE FOSTER 08/30/21 4:13:18 PM #2:	Fuck the asshole conservative justices seriously <cite>CADE FOSTER posted [p:957583859] in Goldman Sa... [t:79638689]...</cite> <quote>Fuck the asshole conservative justices seriously </quote> ... Copied to Clipboard!
Cocytus 08/30/21 4:15:37 PM #3:	dot dot dot <cite>Cocytus posted [p:957583926] in Goldman Sa... [t:79638689]...</cite> <quote>dot dot dot </quote> ... Copied to Clipboard!
hockeybub89 08/30/21 4:15:44 PM #4:	Surely 750,000 more homeless families will be a good thing for society --- http://card.psnprofiles.com/1/NIR_Hockey.png http://www.last.fm/user/hockeybub89/ <cite>hockeybub89 posted [p:957583928] in Goldman Sa... [t:79638689]...</cite> <quote>Surely 750,000 more homeless families will be a good thing for society </quote> ... Copied to Clipboard!
Zeeak4444 08/30/21 4:18:14 PM #5:	Wonder what will happen to that extra 20.5 billion not distributed yet (not the 20 in reserve). --- Typical gameFAQers are "Complainers that always complain about those who complain about real legitimate complaints."-Joker_X <cite>Zeeak4444 posted [p:957583992] in Goldman Sa... [t:79638689]...</cite> <quote>Wonder what will happen to that extra 20.5 billion not distributed yet (not the 20 in reserve). </quote> ... Copied to Clipboard!
legendary_zell 08/30/21 4:19:18 PM #6:	This is actually a good thing because efficiency and markets and property rights and all that. --- I gotta be righteous, I gotta be me, I gotta be conscious, I gotta be free, I gotta be able, I gotta attack, I gotta be stable, I gotta be black. <cite>legendary_zell posted [p:957584019] in Goldman Sa... [t:79638689]...</cite> <quote>This is actually a good thing because efficiency and markets and property rights and all that. </quote> ... Copied to Clipboard!
Middle hope 08/30/21 4:19:30 PM #7:	Will this all cause a drop in housing prices? I kinda wanna move closer to work but its getting silly out there --- https://imgur.com/iQep35u https://imgur.com/PmX8smn https://imgur.com/mwTy0iF https://imgur.com/FCER80e <cite>Middle hope posted [p:957584023] in Goldman Sa... [t:79638689]...</cite> <quote>Will this all cause a drop in housing prices? I kinda wanna move closer to work but its getting silly out there </quote> ... Copied to Clipboard!
dodgefan91 08/30/21 4:23:09 PM #8:	Middle hope posted... Will this all cause a drop in housing prices? I kinda wanna move closer to work but its getting silly out there its admittedly a bit cold hearted to look at it this way.but thats exactly what Im hoping. Housing prices both renting and to buy are ridiculous right now. <cite>dodgefan91 posted [p:957584112] in Goldman Sa... [t:79638689]...</cite> <quote>Middle hope posted... </cite> <quote>Will this all cause a drop in housing prices? I kinda wanna move closer to work but its getting silly out there</quote> its admittedly a bit cold hearted to look at it this way.but thats exactly what Im hoping. Housing prices both renting and to buy are ridiculous right now. </quote> ... Copied to Clipboard!
uwnim 08/30/21 4:23:51 PM #9:	Why the fuck is there billions in aid just sitting around and not being distributed? --- I want a pet Lavos Spawn. [Order of the Cetaceans: Phocoena dioptrica] <cite>uwnim posted [p:957584130] in Goldman Sa... [t:79638689]...</cite> <quote>Why the fuck is there billions in aid just sitting around and not being distributed? </quote> ... Copied to Clipboard!
CADE FOSTER 08/30/21 4:28:11 PM #10:	uwnim posted... Why the fuck is there billions in aid just sitting around and not being distributed? the states make it so hard to get it by design <cite>CADE FOSTER posted [p:957584248] in Goldman Sa... [t:79638689]...</cite> <quote>uwnim posted... </cite> <quote>Why the fuck is there billions in aid just sitting around and not being distributed?</quote>the states make it so hard to get it by design </quote> ... Copied to Clipboard!
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uwnim 08/30/21 4:29:59 PM #12:	CADE FOSTER posted... the states make it so hard to get it by design So they are deliberately failing their people. How wonderful. --- I want a pet Lavos Spawn. [Order of the Cetaceans: Phocoena dioptrica] <cite>uwnim posted [p:957584303] in Goldman Sa... [t:79638689]...</cite> <quote>CADE FOSTER posted... </cite> <quote>the states make it so hard to get it by design</quote>So they are deliberately failing their people. How wonderful. </quote> ... Copied to Clipboard!
tremain07 08/30/21 4:31:28 PM #13:	Oh man, some people are gonna get really rich off this, hope you all own property stock and private prison stock --- A worthless existence <cite>tremain07 posted [p:957584348] in Goldman Sa... [t:79638689]...</cite> <quote>Oh man, some people are gonna get really rich off this, hope you all own property stock and private prison stock </quote> ... Copied to Clipboard!
CADE FOSTER 08/30/21 4:32:12 PM #14:	Every states is gonna be booming with homeless <cite>CADE FOSTER posted [p:957584367] in Goldman Sa... [t:79638689]...</cite> <quote>Every states is gonna be booming with homeless </quote> ... Copied to Clipboard!
ChocoboMogALT 08/30/21 4:33:39 PM #15:	Middle hope posted... Will this all cause a drop in housing prices? I kinda wanna move closer to work but its getting silly out there Naive take: When people move out of houses/apartments, prices go up, not down. Prices only lower when there's pressure in that direction and that requires spaces to be sitting empty (which has its own issues) or more competition. --- "We live in a country Hasire.." ~ yosouf06 REVOLVER STAKE! http://img.photobucket.com/albums/v717/ChocoboMog123/AltEisenRChocoboMog.png <cite>ChocoboMogALT posted [p:957584414] in Goldman Sa... [t:79638689]...</cite> <quote>Middle hope posted... </cite> <quote>Will this all cause a drop in housing prices? I kinda wanna move closer to work but its getting silly out there</quote>Naive take: When people move out of houses/apartments, prices go up, not down. Prices only lower when there's pressure in that direction and that requires spaces to be sitting empty (which has its own issues) or more competition. </quote> ... Copied to Clipboard!
Intro2Logic 08/30/21 4:34:16 PM #16:	uwnim posted... So they are deliberately failing their people. How wonderful. They prefer to think of it as helping them get a job in the service industry --- Have you tried thinking rationally? <cite>Intro2Logic posted [p:957584431] in Goldman Sa... [t:79638689]...</cite> <quote>uwnim posted... </cite> <quote>So they are deliberately failing their people. How wonderful.</quote>They prefer to think of it as helping them get a job in the service industry </quote> ... Copied to Clipboard!
Kloe_Rinz 08/30/21 4:34:53 PM #17:	Which states have homelessness as a crime? This will be great for the for-profit prison system you guys decided was for the best <cite>Kloe_Rinz posted [p:957584444] in Goldman Sa... [t:79638689]...</cite> <quote>Which states have homelessness as a crime? This will be great for the for-profit prison system you guys decided was for the best </quote> ... Copied to Clipboard!
CADE FOSTER 08/30/21 4:36:59 PM #18:	https://www.wsj.com/articles/why-some-landlords-dont-want-any-of-the-50-billion-in-rent-assistance-11616155203 the landlords are saying the money has to many strings attached <cite>CADE FOSTER posted [p:957584503] in Goldman Sa... [t:79638689]...</cite> <quote>https://www.wsj.com/articles/why-some-landlords-dont-want-any-of-the-50-billion-in-rent-assistance-11616155203 the landlords are saying the money has to many strings attached </quote> ... Copied to Clipboard!
PatrickMahomes 08/30/21 4:38:03 PM #19:	Not to be that guy but is this going to make houses finally way more appropriately priced? --- https://imgur.com/cEQy3f4 / https://imgur.com/gWKaLHC <cite>PatrickMahomes posted [p:957584529] in Goldman Sa... [t:79638689]...</cite> <quote>Not to be that guy but is this going to make houses finally way more appropriately priced? </quote> ... Copied to Clipboard!
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s0nicfan 08/30/21 4:38:49 PM #21:	CADE FOSTER posted... https://www.wsj.com/articles/why-some-landlords-dont-want-any-of-the-50-billion-in-rent-assistance-11616155203 the landlords are saying the money has to many strings attached Why would rent assistance going to tenants come with restrictions on landlords who accept said money? Who the hell thought that was a good idea? --- "History Is Much Like An Endless Waltz. The Three Beats Of War, Peace And Revolution Continue On Forever." - Gundam Wing: Endless Waltz <cite>s0nicfan posted [p:957584555] in Goldman Sa... [t:79638689]...</cite> <quote>CADE FOSTER posted... </cite> <quote>https://www.wsj.com/articles/why-some-landlords-dont-want-any-of-the-50-billion-in-rent-assistance-11616155203 the landlords are saying the money has to many strings attached</quote> Why would rent assistance going to tenants come with restrictions on landlords who accept said money? Who the hell thought that was a good idea? </quote> ... Copied to Clipboard!
Kaiganeer 08/30/21 4:39:34 PM #22:	pay your rent <cite>Kaiganeer posted [p:957584572] in Goldman Sa... [t:79638689]...</cite> <quote>pay your rent </quote> ... Copied to Clipboard!
Prismsblade 08/30/21 4:40:21 PM #23:	PatrickMahomes posted... Not to be that guy but is this going to make houses finally way more appropriately priced? Even if it didn't it wouldn't be for. The banks aren't handing out bad loans anymore and most people are expecting collapse. --- 3DS FC:3368-5403-9633 Name: Kaizer PSN: Blackkaizer <cite>Prismsblade posted [p:957584595] in Goldman Sa... [t:79638689]...</cite> <quote>PatrickMahomes posted... </cite> <quote>Not to be that guy but is this going to make houses finally way more appropriately priced?</quote>Even if it didn't it wouldn't be for. The banks aren't handing out bad loans anymore and most people are expecting collapse. </quote> ... Copied to Clipboard!
John_Galt 08/31/21 11:13:47 AM #24:	Kaiganeer posted... pay your rent --- Who is John Galt? <cite>John_Galt posted [p:957606494] in Goldman Sa... [t:79638689]...</cite> <quote>Kaiganeer posted... </cite> <quote>pay your rent</quote> </quote> ... Copied to Clipboard!
Kloe_Rinz 08/31/21 10:28:13 PM #25:	Kaiganeer posted... pay your rent Sell the house for an affordable price <cite>Kloe_Rinz posted [p:957625529] in Goldman Sa... [t:79638689]...</cite> <quote>Kaiganeer posted... </cite> <quote>pay your rent</quote>Sell the house for an affordable price </quote> ... Copied to Clipboard!
hockeybub89 08/31/21 10:29:55 PM #26:	hockeybub89 posted... Surely 750,000 more homeless families will be a good thing for society --- http://card.psnprofiles.com/1/NIR_Hockey.png http://www.last.fm/user/hockeybub89/ <cite>hockeybub89 posted [p:957625573] in Goldman Sa... [t:79638689]...</cite> <quote>hockeybub89 posted... </cite> <quote>Surely 750,000 more homeless families will be a good thing for society</quote> </quote> ... Copied to Clipboard!
BilalPowell 08/31/21 10:31:30 PM #27:	Does this mean rent will go down due to higher availability? --- Former #1 Birmingham Iron Fan. RIP AAF <cite>BilalPowell posted [p:957625615] in Goldman Sa... [t:79638689]...</cite> <quote>Does this mean rent will go down due to higher availability? </quote> ... Copied to Clipboard!
Kloe_Rinz 08/31/21 10:43:18 PM #28:	BilalPowell posted... Does this mean rent will go down due to higher availability? Lol <cite>Kloe_Rinz posted [p:957625894] in Goldman Sa... [t:79638689]...</cite> <quote>BilalPowell posted... </cite> <quote>Does this mean rent will go down due to higher availability?</quote>Lol </quote> ... Copied to Clipboard!
Kingbuffet 08/31/21 10:48:54 PM #29:	The Supeme Courris overpowered how can a few individuals determine the fate of 750,000 people? Man America is messed up <cite>Kingbuffet posted [p:957626020] in Goldman Sa... [t:79638689]...</cite> <quote>The Supeme Courris overpowered how can a few individuals determine the fate of 750,000 people? Man America is messed up </quote> ... Copied to Clipboard!
Kloe_Rinz 08/31/21 10:59:30 PM #30:	Kingbuffet posted... The Supeme Courris overpowered how can a few individuals determine the fate of 750,000 people? Man America is messed up But landlords lives are ruined because of a 15% drop in net revenue! Whats that, sell some of the houses or the personal jet? Sorry, I cant hear you over the sound of how much money Im losing! <cite>Kloe_Rinz posted [p:957626263] in Goldman Sa... [t:79638689]...</cite> <quote>Kingbuffet posted... </cite> <quote>The Supeme Courris overpowered how can a few individuals determine the fate of 750,000 people? Man America is messed up</quote>But landlords lives are ruined because of a 15% drop in net revenue! Whats that, sell some of the houses or the personal jet? Sorry, I cant hear you over the sound of how much money Im losing! </quote> ... Copied to Clipboard!
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Current Events > Goldman Sachs estimates 750k households face eviction after ban overturn (+) Yeah! (+)

Current Events > Goldman Sachs estimates 750k households face eviction after ban overturn