COVID-19 is no good reason
to cancel rents or mortgages
Washington Examiner,
by
Editorial
Original Article
Posted By: MissMolly,
5/7/2020 5:04:28 AM
As the housing market collapsed in 2008 and 2009, millions of people stopped paying their mortgages. The ensuing disaster — the secondary mortgage market imploded — is something no rational person should want to repeat.
It is thus astonishing that some members of Congress want a reprise. In their ignorance of how the world works and their desire to pander to voters, they advocate compounding the economic disaster brought on by the global COVID-19 pandemic.
This began when Rep. Ilhan Omar, in her typically short-sighted and economically illiterate way, called for “canceling” rent payments during the plague. This would be as disastrous now as it was a decade ago.
Reply 1 - Posted by:
watashiyo 5/7/2020 6:29:17 AM (No. 403468)
Don't people save for rainy days anymore?
Don't be a loser and start saving 10% of your every income and join the 10 Percenter Club.
8 people like this.
Reply 2 - Posted by:
jinx 5/7/2020 7:15:48 AM (No. 403500)
It's time to cancel Congressional salaries until they go back to work and stop playing politics with our lives. It is time to kick Omar's rear end out because of her scandalous behavior before and after she was elected. Let's get back to old fashioned values and back to work.
10 people like this.
Reply 3 - Posted by:
padiva 5/7/2020 7:58:49 AM (No. 403548)
I'll be eating macaroni & cheese everyday before I stop paying the rent.
7 people like this.
Reply 4 - Posted by:
Axeman 5/7/2020 9:02:07 AM (No. 403637)
Let's just cancel all taxes instead. Seriously. What would have a more beneficial effect than that?
5 people like this.
Reply 5 - Posted by:
cor-vet 5/7/2020 9:37:06 AM (No. 403673)
Canceling rent would have to be accompanied by shutting off the water, lights and gas. What a wonderful life it would be, sitting in the dark freezing to death.
4 people like this.
Good reason does not equate to "good" politics.
"Democracy is the theory that the common people know what they want, and deserve to get it good and hard." - H.L. Mencken
It applies equally to a republic. And with a Federal government now tossing TRILLIONS from its empty treasury into the trough, with plenty for everyone, what's a few billion more "contributed" by creditors or landlords?
1 person likes this.
Reply 7 - Posted by:
Winstonian 5/7/2020 10:52:28 AM (No. 403748)
FTA; Voters can and do elect ignorant men and women as officials... Voters also elect socialists and in this case the self proclaimed democratic socialists.
This proposal is about destroying capitalism so socialism can come to the rescue.
“Cancel rent” - Force a government solution. by any means, whether legislatively, by executive order, or through the legal system.
“Government Housing” - Then when the unintended consequences of the solution rear its ugly head, use it as a reason for more brilliant solutions to the crises.
1 person likes this.
Reply 8 - Posted by:
DVC 5/7/2020 12:03:37 PM (No. 403831)
#1 is exactly right. Saving up three months of take home pay in a separate savings account in the bank was my first real goal when I started working out of college. It took me seven or so months of saving to get there, and THEN I could start buying furniture, not living with only a used $25 foldaway couch (sit and sleep) and cardboard moving boxes in my apartment.
Young people should do this, yet they apparently do not even imagine it. Perhaps after this some will understand why the 'rainy day fund' is important.
1 person likes this.
Reply 9 - Posted by:
Chuzzles 5/7/2020 12:18:09 PM (No. 403862)
When the globalist ghouls pushed Trump into a nationwide shutdown, they started the whole ball of wax rolling here. People don't want to not be able to pay their bills, but sometimes when there is no money coming in, there certainly won't be any going out. Lots of people live in a home with a very tight budget, and sometimes saving is hard to do. This has been a mess all around, and I hope people don't lose their homes over this.
1 person likes this.
Reply 10 - Posted by:
kono 5/7/2020 12:29:56 PM (No. 403879)
Why would no rational person want to repeat the secondary mortgage market's collapse in 2009? For the very same reason Ilhan Omar WANTS to repeat it -- totally wreck the American economy, a sort of 'plowing the fields' (economically speaking) for planting of socialism.
Then again, I'm probably giving her more credit than she is due. She could be pushing this merely as another way to screw Trump's 2020 reelection chances. Aw, hell, even that gives her too much credit for thinking. Her sole reason may have been her brain dead world view of perpetual class warfare, that lenders oppress borrowers, and she imagines herself as the savior of the oppressed.
1 person likes this.
Reply 11 - Posted by:
stablemoney 5/7/2020 12:56:32 PM (No. 403916)
If you cancel the rents, who is going to come and fix things? Who is going to mow the lawn? Who is going to replace the items that break?
1 person likes this.
This is the squad and Bernie's dream come true. Because Omar is a taker and came here on a free ride she doesn't understand how money works. Everything is free. Gawd help US.
0 people like this.
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