Free rent and no mortgage - new stimulus from US government!!!!

[exstasie]

Here's a new idea for stimulus. Speaker of the House Nancy Pelosi suggested guaranteed minimum income for Americans today: Pelosi says universal basic income could be ‘worthy of attention now’ as coronavirus stifles economy

There should probably be a distinction made between GMI, which can include a citizenship requirement and means test, and UBI which is unconditional.

I honestly never thought I'd live to see one of the most powerful officials in US politics advocating for something like this. This isn't Bernie Sanders or Ilhan Omar or Andrew Yang. If her contingent got behind a GMI initiative, it could actually happen.

“Others have suggested a minimum income, a guaranteed income for people. Is that worthy of attention now? Perhaps so. Because there are many more people than just in small business and hired by small business ... that may need some assistance as well,” Pelosi added.

[MCobian]

I think the American government has taken the right decision with a new stimulus package. Indeed, if no action is taken immediately,
the American people can suffer more. Because the effects of the corona virus do need to be dealt with quickly, with a free rent and no
mortgage stimulus that's the right step for the benefit of the American people. Hopefully America can immediately end the spread of
this virus. So the economy can recover as before.

[FanatMonet]

Too bright promises, as for me. It is unclear how much money will have to be printed in order to fulfill everything they say, it is only clear that it will require a lot of money and inflation can accelerate very, very much, which can very negatively affect the economy.

[gantez]

Too bright promises, as for me. It is unclear how much money will have to be printed in order to fulfill everything they say, it is only clear that it will require a lot of money and inflation can accelerate very, very much, which can very negatively affect the economy.

The issue of free rent is good for the individual because it will also free some money for them to take care of other expenses. This then will also take care of poverty level as the rent is outside expenses during this time of lockdown. I'm sure is a good idea from the American government.

[South Park]

I think the American government has taken the right decision with a new stimulus package. Indeed, if no action is taken immediately,
the American people can suffer more. Because the effects of the corona virus do need to be dealt with quickly, with a free rent and no
mortgage stimulus that's the right step for the benefit of the American people. Hopefully America can immediately end the spread of
this virus. So the economy can recover as before.

While that is going to help people in the short term we know this is going to affect the economy over the long term, if that stimulus package was paid using the savings of the government or by raising taxes in the future then the effects over the economy may not be as bad but we know the government is going to pay for this by printing more money, but I think we are reaching the limits of their money printing policies and we will eventually suffer hyperinflation because of it.

[audaciousbeing]

This is really a good one here and it should be really supported by everybody irrespective of party lines. The effect of corona virus is just so devastating that it would take longer time than imagine for every sector to bounce back to 100% and that is where the support of government is needed more than ever. Ultimately this too will pass and every one can go back to their activities as soon as possible.

[Aaroenz0r]

The House of Representatives is going to begin deliberation on the passing of a new stimulus package. After $2000 for 6 months, there's a new proposition for free rent and zero mortgage payment is on the table!

- For all Americans
- Applicable up to March 2021
- No negative credit impact
- No accumulation of debt

Reference: https://www.youtube.com/watch?v=swiKYRU-oIA

Next subprime crisis is on making? Voice your opinions!

This is really good for the US economy in the future. This pandemic has affected too much to the US and people are very unemployed. This bailout package will soon accelerate the economy to grow quickly again but I am afraid that inflation will increase sharply in the near future. Remember that the US is still the country with the largest public debt in the world, and bringing money to the relief of people will increase their debt. If the economy did not meet its usual needs, the US would have to pay a heavy price for launching too much money for its country.

[shoreno]

this is a verry good news but i can see that this is only available on u.s country ? 2k usd for 6 months is already a huge amount and its better because you will get it for free without needing to work while on other country they only give 100 usd at most and sometimes if an official is corrupt , this 100 usd are halve to 5 person  .  you said on your last sentence that your expecting for another virus ? well why just because of these good benefits ? crazy them

[cabron]

I'm really wondering what will come of it in the end ...

Everything has an end and that's it. They will start paying I guess, that's very simple.
What isn't simple is how are people going to pay if most of them still have no jobs. Getting evicted is the worse that could happen to you and your family, its not going to be fun when you find yourself sleeping in your car and without food. If the president could just extend it until covid is over, it will be worth voting for that president.

[Lorence.xD]

This is really a good one here and it should be really supported by everybody irrespective of party lines. The effect of corona virus is just so devastating that it would take longer time than imagine for every sector to bounce back to 100% and that is where the support of government is needed more than ever. Ultimately this too will pass and every one can go back to their activities as soon as possible.

That could drive the real estate business down, with no rents paid and mortgages not paid, the bubble will tank. Sure, it benefits the people in individual/household scale but the long term consequences of this is not a fun thing. If things go back to normal, rent hikes will be implemented by landlords and the bubble will be so big that many will go homeless. This in my opinion is a band-aid solution to the problem that they are facing at hand.

[Kakmakr]

In a way, this is making sense... if you were unable to work due to restrictions put in place by your government and you were unable to generate an income... it only make sense not to pay a mortgage or to pay rent for that period.

I cannot see why this is going to "kill" the housing industry... because it will only be for a very short period. Remember, if you do not pay your rent and if the landlord does not have to pay his/her mortgage payments... it will not impact one of these entities in a negative way.  

The Banks might be the ultimate loser in the short term, because they are not earning income from "mortgages" for this period, but fortunately for them, this is not their only income source and they would still generate income from "fees" and other smaller loans. (Also remember, the period you do not pay, just gets added to your mortgage loan agreement period)   

[mersal]

The House of Representatives is going to begin deliberation on the passing of a new stimulus package. After $2000 for 6 months, there's a new proposition for free rent and zero mortgage payment is on the table!

- For all Americans
- Applicable up to March 2021
- No negative credit impact
- No accumulation of debt

Reference: https://www.youtube.com/watch?v=swiKYRU-oIA

Next subprime crisis is on making? Voice your opinions!

Everything is until the election date after that there will be a lot of changes especially in the tax rate paid by the citizens.Well Some people who are really in need of this will be happy about this and all the landlord maybe worried about their rent. Will government pay anything to the land owners later?

[Salauddin1994]

Many people are losing their jobs due to the virus and many are spending their days in despair there is no free rent and no mortgage from the us government to help the people any tenant can invest all the money they have saved without buying a home on the stock market. This includes deposits and other expenses their rent has been waived the us government has also been able to ensure the economic security of the people apart from this two other important issues are the presence of improved health services in a state system and the ability of the people to avail those services.

[Mauser]

Many people are losing their jobs due to the virus and many are spending their days in despair there is no free rent and no mortgage from the us government to help the people any tenant can invest all the money they have saved without buying a home on the stock market. This includes deposits and other expenses their rent has been waived the us government has also been able to ensure the economic security of the people apart from this two other important issues are the presence of improved health services in a state system and the ability of the people to avail those services.

I think now with winter approaching and the second corona wave recking havoc, we need to find different ways to support the people in need. If the government would step in to provide housing for the poor people that could definitely help. Also if the government continues to just give money to the big companies it's forgetting many other people. The government needs to do more for the little person.

[cheezcarls]

The House of Representatives is going to begin deliberation on the passing of a new stimulus package. After $2000 for 6 months, there's a new proposition for free rent and zero mortgage payment is on the table!

- For all Americans
- Applicable up to March 2021
- No negative credit impact
- No accumulation of debt

Reference: https://www.youtube.com/watch?v=swiKYRU-oIA

Next subprime crisis is on making? Voice your opinions!

It's a good thing that the US can afford doing that for those who are struggling with rent and mortgage payments. But what about the third world countries? Oh well! They can only afford to order companies, telcos, electric and water cooperatives, landlords, etc., to delay collecting dues like here in the Philippines. But right now we are slowly recovering, balancing both economy and health protocols.

[Yatsan]

Same thing have just happened here in our country with correlation to the existence of this pandemic wherein the economy is down due to closure and people have no decent source of income, our government have announced that there will be no payment for the 2-3 months of rental fee for the people just to help them out on their expenses. But that was just last from April to June since our country have already opened up our economy so people can get back to work and now rental fees are already back since they can already be able to fee for those billings they do have.

It was kind pretty nice and really be considered as a great help coming from the government since people are really needy at this times. But it would be a disadvantage for the landlords since they have no fight back against that. Such a pretty good move then for the US government.