Could Evictions impact Irvine too?

the.irvine said:
Not sure what % of homes are owner occupied in Irvine. This study is very concerning, i feel for the families hit by this pandemic and will be potentially at the risk of losing their homes. Again, you can't blame landlords either because they have to pay mortgages.
https://medium.com/@planwithvtran/the-eviction-pandemic-is-coming-1cd374cbb2e9

And why would owners lose their homes if they have equity?  If owners were in danger, they would just list the home if they had equity.  Not to say that some people won't be effected but I'm just not seeing any kind of this stress in the market....more the opposite of multiple offers on many homes under $1m. Irvine renters tend to be stronger as well and there are multiple applications from renters on rentals as well (I had 3 rentals in the past few months that had multiple applications). I only know of one landlord client out of dozens that is having tenant issues who were effected by covid.
 
Buying and selling houses is different from collecting rent and being a landlord.
Non eviction scenario: So lets say the tenant is late 4 months. Do you think the tenant is going to repay in a timely fashion. In the mean time you request a forbearance with the bank and if they do not pay you back. I guess you have to pay the back months mortgage. (I guess you can go to court, but collecting the judgement is another headache.)

It is a big mess.

 
eyephone said:
Buying and selling houses is different from collecting rent and being a landlord.
Non eviction scenario: So lets say the tenant is late 4 months. Do you think the tenant is going to repay in a timely fashion. In the mean time you request a forbearance with the bank and if they do not pay you back. I guess you have to pay the back months mortgage. (I guess you can go to court, but collecting the judgement is another headache.)

It is a big mess.

Exactly. I agreed.
 
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