Resources

Will the Small Business Bailout Work?

Maybe, maybe not. First, there is simply not the banking infrastructure to meet the demand from these small businesses for $376 billion in loans made available under the relief package. Second, while small businesses are guaranteed six months forbearance under the package, banks are still allowed to make their own rules for loan repayment, meaning the interest rates and terms are made by the bank, and will not necessarily be competitive market terms.

For more info, see my article Will The SBA Loans Really Save Small Businesses?

 

I Can’t Pay my Rent, what does this mean?

States and even cities throughout America have declared various levels of protection over the last few weeks.  In states like Georgia, there is no protection against eviction.  However, the government did postpone all ‘non-essential’ court hearings until April 13th.  Unfortunately, this does not prevent counties within the state from holding emergency hearings for landlords.  California has announced a postponement of evictions until May 31st, and some cities within the state have gone even further.  Los Angeles allows renters one year to make rent payments, and landlords are required to waive all late fees.  Washington Governor, Jay Inslee, announced a sweeping moratorium on evictions within the state, but that only covers tenants through April 18th.  The city of Seattle extended this moratorium through mid-May and enlarged it to cover all residential evictions, including those not rent-payment related.

For more info, see my article Will the Pandemic Bring Mass Evictions and Foreclosures in May?

 

What  Can We Expect From The Economy?

The American Government has already acted to mitigate the damage.  The Federal Reserve has slashed interest rates, Congress has passed an unprecedented bailout package to buoy-up both American citizens and their small and large businesses, and President Trump has announced HUD will postpone all evictions and foreclosures until May. These measures are helpful for the short-term, but over the longer term, we must push for our government to protect its vulnerable citizens.  And we can work together with private organizations to help those in need.

For more info, see my article The Economic Fallout From the Corona Crisis And The Value Of A Dollaras well as Chapter 9 from my book

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Long-time banker and broker, James M. Nelson, noticed rental rates sky-rocketing across America and sought to discover the cause. He recently published a book detailing his findings, Stealing Home: How Artificial Intelligence Is Hijacking The American Dream.

National Resources
National Low Income Housing Coalition (check this website for state organizations)

nlihc.org

See Report: The Gap in Affordable Rental Housing

https://reports.nlihc.org/gap

The National Coalition for the Homeless

nationalhomeless.org

Tenant Rights laws for each state:

https://www.hud.gov/topics/rental_assistance/tenantrights

Washington State Resources
Washington Low Income Housing Alliance

www.wliha.org

 

King County Housing Authority

www.kcha.org

 

Real Change

main.realchangenews.org

 

Seattle Housing Authority

www.seattlehousing.org

 

Seattle/King County Coalition on Homelessness

homelessinfo.org

 

Tenants Union of Washington

tenantsunion.org

 

Tacoma Tenants Union

tacomatenants.org

 

Seattle Displacement Coalition

sdc@zipcon.net

California State Resources
California Housing Partnership

www.chpc.net

 

Housing California

www.housingca.org

 

Non-Profit Housing Association of Northern California

www.nonprofithousing.org

 

Southern California Association of Nonprofit Housing

www.scanph.org

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