Corporate Property-Buying Spree May Make Housing Even Less Affordable Amid COVID truthout.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from truthout.org Daily Mail and Mail on Sunday newspapers.
Compassion Reporting on poverty fighting and criminal justice
Associated Press/Photo by Michael Dwyer (file)Activists in front of Gov. Charlie Baker’s house in Swampscott, Mass.
Eviction bans tee up long-term housing crisis
Compassion | Renters who felt short-term benefits could end up worse off Posted 12/09/20, 04:56 pm
In the 1960s, Greta Arceneaux took out a loan to tear down her old house in Los Angeles and build five rental units on the property. With income from renters, Arceneaux, now 81, saved for retirement and helped her children and grandchildren pay for college. But this year, LA enacted protection for tenants affected by the coronavirus, preventing landlords from evicting them for up to 12 months. Now Arceneaux foots the bills for the property with no guarantee of income. One of her tenants lost his job during the pandemic and stopped paying rent.