Economy Evictions are skyrocketing

White Whale

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'lt was humiliating.’ Evictions in these cities are worse than before Covid

A toxic mix of surging rental rates and vanishing support for renters has catapulted evictions above pre-pandemic levels in some major cities.

Evictions have increased most significantly in Sun Belt cities where housing affordability has worsened and where renters often have fewer protections.

Tenant eviction filings are well above the pre-Covid average in Gainesville, Florida (+46%); Las Vegas (+43%); Houston (+42%); Phoenix (+35%); Nashville, Tennessee (+31%); and Fort Worth, Texas (+25%), according to records tracked by the Eviction Lab at Princeton University.

Other cities, including Minneapolis (+44%) and Columbus, Ohio (+37%), are also experiencing higher levels of evictions than before the pandemic.

Three-quarters of the 34 cities tracked by the Eviction Lab saw evictions increase between 2022 and 2023. More than half are above pre-pandemic levels.

The vast majority of evictions are for issues related to nonpayment of rent, according to the Eviction Lab.

Experts blame a combination of higher rent, the expiration of Covid-era protections and policies that make it easier for landlords to evict tenants in some cities and states.

“There has been a real erosion of housing affordability — especially at the low end. Affordable housing has really disappeared,” said Chris Salviati, senior housing economist at rental platform Apartment List.

‘Shame and panic’
Although rent hikes have eased recently, rent is still 21% more expensive nationally since March 2020, according to Apartment List.

Some cities with elevated eviction filings have seen even bigger rent hikes, including Nashville (+22%), Phoenix (+25%), Columbus (+27%) and Las Vegas (+29%).

Kristolyn Lloyd, an award-winning actress in New York City, fell behind on rent when her roommate left during Covid and she was stuck paying for her two-bedroom Manhattan apartment on her own.

“There just wasn’t a lot of incentive to finding a random person to live with when you’re a Black woman in the middle of the pandemic,” Lloyd, who has appeared in shows on and off Broadway, told CNN in a phone interview.

Eventually, Lloyd’s landlord gave her 10 to 15 days to come up with the $15,000 in rent she owed — or face eviction.


Evictions in Pandemic Boomtowns Are Surging as Rents Rise

Nearly two years after the federal government lifted COVID-19 pandemic-era eviction moratoriums, evictions are surging in some of the most popular boomtowns for one simple reason: The rent is too high.

Princeton University’s Eviction Lab tracks eviction filings across 10 states and 34 cities and recorded 1,078,856 evictions nationwide over the past year.

The lab’s data doesn’t comprehensively cover all parts of the country. But Communications and Policy Engagement Manager Juan Pablo Garnham notes that, while boomtowns aren’t necessarily the places with the most evictions, the cities are experiencing the highest percentage increase in the number of evictions filed compared with pre-pandemic times.

Popular boomtowns like Minneapolis and Columbus, OH, are seeing a steep increase in the number of evictions filed compared with pre-pandemic numbers, according to the lab’s data. In Minneapolis, evictions have climbed by 44% compared with 2019 levels, while Columbus’ rate has increased by 37%.

Even now that the pandemic is in the rearview mirror, people are still moving to these areas, which is also contributing to the high eviction rates.

Eviction rates are increasing due to high rent and the economy.

People are struggling to pay rent and other which will be a main issue for the upcoming election.
 
The same process is happening faster in other parts of the Anglosphere. The question is will Trump/Harris wait until things get terrible before addressing the issue. Probably yes.
 
People got used to the idea that paying their rent was optional during covid.
There are some evictions that are happening that arent paying rent related.
Some are been kicked out of their units/apartments and replaced with new tenants.

You cant forcefully kick out tenants if they are paying rent nor if they haven't done anything wrong.
 
There are some evictions that are happening that arent paying rent related.
Some are been kicked out of their units/apartments and replaced with new tenants.

You cant forcefully kick out tenants if they are paying rent nor if they haven't done anything wrong.
No, you simply don't renew their leases. Or you add a significant rent increase at renewal so they can't afford it.

The new technique I'm seeing is that they simply stop taking your rent checks or lock you out of the tenant portal. That way they have the non-payment to justify the eviction.
 
There are some evictions that are happening that arent paying rent related.

You cant forcefully kick out tenants if they are paying rent nor if they haven't done anything wrong.

I feel like you're saying two contradictory things here
 
On a larger scale, this is what was happening prior to the pandemic. Wages were not increasing in line with the cost of housing so people stopped being able to afford housing. It hit buyers first. And once the buyers turned into renters, the resulting rent escalation has hit that part of the market.

The profit seeking that drives AirBnB users to pull properties from the housing market is certainly part of the problem. I know people with literally hundreds of AirBnB units. That's housing stock that has been repurposed for short term purposes and adds to the shortage.

Anyway, this isn't going to change in the short term. These are municipal level problems and most municipalities aren't really equipped to handle this since getting the property taxes paid is usually priority number 1.
 
Current economic trends with respect to the cost of housing are wholly unsustainable.
This may not be it; but the bubble will burst. Save it for first quarter ‘25 and we can blame whoever’s in charge for the failure and ignore the truth like we did in 08.

What's going to cause the bubble to burst? I don't really see a reason for it.
 
I was told bidenomics is booming because there was a new high in the dow jones though.
Unfortunately that is a lot of the way people think. The truth is that the economy is a mixed bag right now. Housing costs are outrageous and I think they’re only going to get worse. Food costs are also outrageous right now.

We need to go through a deflationary cycle but I don’t see that happening anytime soon either
 
He's implying that some people are being evicted because they are bad tenants. Which is certainly true but it's not the factor driving the increase in evictions out there.
That is exactly what i am trying to say. Its not the main factor.
Thank you.
 
What's going to cause the bubble to burst? I don't really see a reason for it.

A lot of folks who "own" rental properties don't really own them, this includes the corporate owners such as Blackrock and other such companies. A lot of it is financed though various loans, leases, and other arrangements which all have interest costs of some sort, as interest rates reset upwards a lot of them aren't going to have the cash flow to avoid defaults, and once the defaults start picking up it's game on.
 
The same process is happening faster in other parts of the Anglosphere. The question is will Trump/Harris wait until things get terrible before addressing the issue. Probably yes.


Hopefully government can address housing as well as they handled healthcare and college loans.
 
Unfortunately that is a lot of the way people think. The truth is that the economy is a mixed bag right now. Housing costs are outrageous and I think they’re only going to get worse. Food costs are also outrageous right now.

We need to go through a deflationary cycle but I don’t see that happening anytime soon either
This is a fair and balanced take. Have you considered joining the radical centrists?
 
I work in property management and we had a 2 year period where people just sat home and collected checks even though no businesses were shut down in my area. Now we're doing 3x the evictions in the past year. Chicken gonna roost.
 
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