Many landlords in 2020-2021 just can barley make ends meet due to the pandemic. Many tenants have lost their jobs and very little financial resources, the Center for Disease Control and Prevention extended the moratorium from December then January 2020 on evictions to now March 2021. This prevents new and previously filed evictions from coming to past. Once this is lifted, it is required for all tenants to pay back rent by law. With the unknown on the horizon it may not truly be a wise decision and really taking a risk on investment. This is truly a lot of economic stress on investors and even more risky. It was always a great investments for many years. Landlords are struggling for relief this include commercial buildings as well. Keep in mind many are now working from home which there is pretty much vacant buildings and revenue not in place to pay their commercial rent. Without rent being paid, it is also a massive struggle maintaining capital improvements and maintenance for safe housing. This is an additional ripple down effect on investors. So in turn I predicted last year at the rate the nation was headed may end up in short sales and foreclosures in 2021.
From my experiences in this turbulent housing market, the most stable employment is those that are in essential jobs. Such as police, medical field, real estate professionals and associated fields, supermarkets, banking etc. These are the fields that are taking advantage of the housing market and astounding low interest rates.
Landlords do not want to evict tenants, the government is way behind in helping the economy. Wealthy homeowners are getting richer while in the meanwhile first time buyers are struggling to buy a home due to uncertain and stable employment. Facebook Kevin Sells Florida and Kevin Selling Florida.