[lbo-talk] Max's house (was capitalism and collapse)

[Gar Lipow]

On 8/11/07, Max B. Sawicky <sawicky at verizon.net> wrote:
> >  My impression about the housing problem
> > is that people won't be on the street -- they'll be renting garden
> > apartments
> > and the like.  If the mortgage goes belly up they still have the income
> > they
> > were using to service it available to pay rent.

I hope so. But a landlords have grown very restrictive. Some landlords
won't rent to anyone with a foreclosure or eviction. Others will
insist on extremely high deposits they may not be able to finagle. It
varies from area to area how serious a problem this is, since it is a
matter of business practice rather than law. Obviously the lower the
vacancy rate, the fussier a landlord can afford to be.