Added: Timithy Doolin - Date: 28.08.2021 13:58 - Views: 18693 - Clicks: 9021
Still, the year-old driver kept a friendly lilt in her voice as she said goodbye to the riders filing past her and stepping off the bus.
But she had no home to go to. Nthe largest landlord for single-family homes in the United States, had evicted her from the one she lived in. The company then sent Robinson an with links to information about other government and nonprofit relief programs, as well as payday lenders, food banks, the Coalition for the Homeless and ways to make money by selling hair, plasma and donor eggs. On Jan. Two days later, Robinson filed a handwritten declaration with the Orange County civil court attesting that she qualified for relief under the U.
That Sept. But according to the Princeton University Eviction Lab,households have faced eviction proceedings during the pandemic in the 27 cities the research project tracks, including Phoenix, Milwaukee and Dallas. Before the pandemic, abouthouseholds were evicted each year.
Since the pandemic began, large corporate landlords have filed nearly 70, eviction cases in just 27 counties in seven states analyzed by the Private Equity Stakeholder Project, a Chicago-based nonprofit that studies the impact of private equity investments on the public.
Many of the big landlords, especially those focused on single-family homes, have benefited as higher-income families have fled to the suburbs for perceived safety and more space during the pandemic.
Its share price has nearly doubled since March Invitation Homes ranked fifth among companies seeking evictions in the seven states examined by the Private Equity Stakeholder Project, with cases since the CDC moratorium took effect Sept. S2 Capital and Western Wealth Capital did not respond to requests for comment.
That aid has been slow to trickle out, however, and meantime, just fighting eviction can cost money that tenants lack. The CDC did not respond to requests for comment. Late last month, two days before the moratorium was to expire, the agency extended it to June Thank you for your attention to this matter. Sincerely, Your Invitation Homes Team. Robinson now lives out of her car and stays with friends or, when she has the cash, in a hotel. She had to pay to fix a flat tire. She had mistakenly moved into storage the oxygen tank she needs for her asthma. Judge Duckworth provided no rationale for his decision in the court record.
In an statement, Invitation Homes spokeswoman Kristi DesJarlais said the company does not comment on the cases of individual renters. Robinson said Invitation Homes never made her such an offer. Florida, in particular, is a hot spot for pandemic evictions. When homeowners began to default on their loans and the market for mortgage-backed securities collapsed, 10 million American homeowners lost their properties in a tidal wave of foreclosures.
Picture taken March 28, Investment bank Goldman Sachs had been a player in the mortgage-backed securities market. At the same time — and unknown to investors — the firm had bet against securitized mortgages. Among the Goldman Sachs executives who engineered that bet against the U. Inhe left Goldman, created Progress Residential and ed a rush by Invitation Homes and other shops to snap up cheap foreclosed homes in bulk. These firms figured that rents in suburbs with good schools would continue to rise, while their own home purchases would buoy the value of their real estate assets. They could then sell bonds backed by rental income to finance even more home purchases.
From the start, the business model was controversial. Affordable housing advocates worried that the firms would lean hard on tenants, minimizing maintenance costs and maximizing rents and fees, to satisfy bondholders. The strongest predictor of whether a tenant got an eviction notice was if the tenant was Black, the Atlanta Fed said. Through a spokesperson, Mullen did not respond to requests for comment.
Among those Progress has sued to evict is Lichelle Reynolds, a year-old Black mother of two who had an impeccable rental history — until she moved in December into a powder blue two-story home with loft ceilings on Lark Song Loop in Riverview, Florida, near Tampa. The neighborhood came with a community pool, tennis courts, pocket parks and a clubhouse. Reynolds said she took it upon herself to do repairs, like sawing off sagging palm fronds. She kept the house spotless. She lost more than half her income.
Reynolds reached out to Progress for help.
Reynolds responded by filing a declaration in court that she qualified for protection under the CDC eviction moratorium. With the help of a lawyer, Reynolds was able to get the court to agree to a stay on the eviction and then get the case dismissed altogether in April. On one, families whose jobs and wealth have been largely unaffected have helped spark a home-buying frenzy as many have sought pandemic compounds with home offices and roomy basements for homeschooling.
Another factor lifting prices: big landlords buying in bulk, according to John Burns Real Estate Consulting, an independent research firm that studies the housing market.
In the fourth quarter offor example, Invitation Homes bought homes in Dallas and 54 in Phoenix. These bulk purchases, housing advocates say, crowd out first-time homebuyers by depleting the inventory of affordable homes. At the same time, the pandemic threw 22 million Americans into unemployment. Suddenly, money was tight. One in five tenants are behind on their rent, according to the administration of President Joe Biden.
Until then, he said, he always paid on time and in full. He said he called Invitation Homes to offer partial payment, but the company refused. A few weeks later, he hit a pothole while on his Harley-Davidson motorcycle and was thrown across the freeway. The accident left him in intensive care for two weeks with two punctured lungs, 20 broken bones and a brain injury.
By the time he returned to his rental in December, suffering blackouts and unable to remember his voic PIN, Invitation Homes had sued him for eviction. The case is pending. DesJarlais, the Invitation Homes spokeswoman, reiterated that the company does not comment on specific cases.
She says she stayed up all night cleaning the house and waxing the floors. Several days after Robinson moved out, a family of seven in a maroon minivan pulled up to see the house. The floor of the screened porch was chipped. The back door had a broken hinge. The family looked over each of the rooms, talking among themselves. They declined to say whether they were going to a lease, but the next day, the listing was removed. She continues to work overnight shifts, and her hours and pay are rebounding. She remains homeless. Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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SPECIAL REPORT Giant U.S. landlords pursue evictions despite CDC ban