Despite Protections Mass Evictions Are Predicted

first_img Despite eviction and foreclosure moratoria, recently extended at federal levels—first from FHFA, FHA, and, later, the CDC—the country is in for a flood of eventual evictions, according to research collected by Bloomberg. The report also explored how, with a current shortage in housing, the eviction bans are costing landlords with tenants.    The loss of homes has been stalled, experts have said in response to the latest presidential action, but not stopped.  The Census Bureau recently reported that about a third of renters said in July that they had “no confidence” or “slight confidence” in their ability to pay for housing in August. With Republicans and Democrats in a stalemate over a next round of economic stimulus measures, experts warned that the country is poised for “an eviction crisis of historic proportions,” Bloomberg reported. About 30 million Americans are “at risk” of being evicted in coming months because they can’t pay rent, according to a review of the Census survey data by the Aspen Institute Financial Security Program, the Covid-19 Eviction Defense Project, the National Low Income Housing Coalition and a coalition of researchers—estimates released before the moratoria extensions. Bloomberg noted that looming eviction and the uncertainty that accompanies this latest action remains a problem.  “Eviction is a legal process, and the burden on landlords differs by state. But the mere threat of eviction often is enough for landlords to get someone to move out. Many landlords have been working with tenants in the hopes that more emergency rental assistance is on its way. Absent that help, the U.S. could be heading for a massive wave of housing displacement and insecurity. More people will double up with family or end up homeless.” To access the most-recent protections announced by the White House, renters must assert they are incapable of paying their rent or are likely to become homeless if kicked out of their property, and they will be required to pay as much rent as they can afford, Bloomberg noted. Also, the initiative may still face legal challenges from landlords. Many tenants now owe so much in back rent that they won’t be able to catch up, pushing landlords to evict them as soon as restrictions lift. A potential solution, Bloomberg reported, is for Congress to pass a plan that would provide $100 billion in rental assistance and ban evictions, “but that’s stuck in stalled negotiation with Republicans on a new stimulus package.” Renters will not suffer alone. As Bloomberg reported, landlords need to collect rent to cover mortgage payments and property taxes. Many also pay for utilities. Keeping non-paying tenants around can incur operating costs without generating any revenue. With a shortage of housing inventory, landlords also understand they could be renting space to paying renters as opposed to those who can no longer pay.   Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save in Daily Dose, Featured, News September 3, 2020 1,322 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago 2020-09-03 Christina Hughes Babb Related Articles Sign up for DS News Daily Despite Protections Mass Evictions Are Predicted Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Despite Protections Mass Evictions Are Predicted Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. About Author: Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago Previous: How Borrowers are Handling Pandemic-Prompted Budget Barriers Next: Nationwide Housing Shortage Intensifies  Print This Post The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

Club Feature: the Identity Project

first_imgThe Identity Project of Notre Dame (IDND), a student club that addresses issues of sexuality and human dignity through the lens of Catholic Church teaching, is in the midst of planning its annual Edith Stein Project Conference.“The Edith Stein Project Conference is the largest student-run conference in the United States,” Hailey Vrdolyak, club co-vice president and junior, said. “The conference brings together 30 speakers to discuss what the Catholic Church can offer to the discussion of issues faced on college campuses, such as the hook-up culture, pornography and other topics regarding human sexuality.”Vrdolyak said past conferences have been attended by more than 300 people, including Notre Dame, Saint Mary’s and Holy Cross students and professors. This year’s conference, to be held Feb. 6-7 in McKenna Hall, will address the theme of “Radiant Image: Cultivating Authentic Identity in the Modern World” and will focus on the central idea of living in God’s image, according to the IDND website.The conference namesake, Edith Stein, was canonized in 1998 as St. Teresa Benedicta of the Cross and “fought for the truth and the dignity of women through her writings and frequent letters,” according to the IDND website. Working as a teacher, nurse and philosopher and eventually as a cloistered Carmelite nun, she was martyred at Auschwitz in 1942. The club website states: “We look to Edith Stein for inspiration as a model of turning one’s heart to God and as someone who lived her vocation with the genuine spirit of self-gift.”This year marks the tenth anniversary of the Edith Stein Project Conference.“The club was founded in 2004, and the first conference was held in the spring of 2005,” IDND president and senior Mary Kate Martinson said. “The Identity Project has hosted an annual conference every spring since its founding.”Although the annual conference serves as the club’s main event, IDND co-sponsors other campus events that promote the Catholic identity of Notre Dame and help students develop as Catholic leaders, Alexandra DeSanctis, IDND co-vice president and junior, said.The club meets on Tuesday nights at 7 p.m. in the McNeill Room of LaFortune.“We foster fruitful conversation about issues of identity … and healthy relationships,” DeSanctis said. “We often read articles on these topics and discuss in a group. The meetings are also often used as a time to plan for the conference.”Contact [email protected] or visit the club Facebook page at https://www.facebook.com/identityND for more information about the club or the conference. Register for the conference online at www3.nd.edu/~idnd/. Registration is free for Notre, Saint Mary’s and Holy Cross students.Tags: carmletine nun, Edith Stein, Edith Stein Project Conference, Identity Project, Identity Project Notre Dame, IDND, St. Teresa Benedicta of the Crosslast_img read more

CVPS, DPS agree on smaller rate increase of 7.67 percent

first_imgCentral Vermont Public Service (NYSE-CV) and the Vermont Department of Public Service have agreed to a rate settlement that will reduce a November rate request.Driven by reliability and transmission improvements and increasing power costs, in November CVPS asked the Vermont Public Service Board to authorize an 8.34 percent rate increase under the company’s alternative regulation plan. CVPS and the DPS have agreed to reduce the increase, which is expected to take effect Jan. 1, to 7.67 percent. The agreement also amends and extends the company’s alternative regulation plan.Under the settlement, which must be approved by the PSB, the company’s allowed return on equity would remain at the current level of 9.59 percent. CVPS agreed to reduce its return on equity request and make an additional $13 million investment in the Vermont Electric Power Company by the end of the year, changes that reduced the size of the rate increase.Even with the increase, CVPS states that its rates will remain among the lowest of the major utilities in New England.Under the proposed base rate change, a residential customer using 500 kilowatt-hours per month would experience a $5.91 increase, from $78.11 to $84.02. By comparison, the same customer would pay as much as $121.80 elsewhere in New England, according to the Edison Electric Institute.Since 1999, CVPS rates have risen at a fraction of the rate of inflation in the energy sector, with a handful of increases and decreases, including a 1.15 percent decrease in July. Overall, rates in 2011 are expected to be 21.8 percent higher than in 1999. Based on the latest federal data available, the Consumer Price Index for Energy has increased 81 percent.‘We have worked hard to mitigate the need for a rate increase, and are pleased that the VELCO investment will help reduce the impact on customers,’ President Bob Young said. ‘The increase is driven in large part by increases in power costs and a large increase for reliability improvements and regional transmission costs.‘I wish we could forego an increase, but we must continue to invest in our systems and pay our share of regional transmission costs,’ Young said. ‘While it doesn’t eliminate the impact, I am proud to say we will continue to provide a value that is extremely competitive in the region, even after the increase.’Other Vermont utilities have received rate increases ranging from 3.11 percent to as much as 30.76 percent in the past 8 months.The new rates will serve as the base rates for 2011 under CVPS’s amended alternative regulation framework. Under the plan, CVPS’s rates are adjusted up or down every quarter to account for specified changes in power costs, and annually for specified changes in other costs and earnings.Source: CVPS. 12.22.2010last_img read more