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#68: Benjamin Schenk: Regional COVID-19 Housing Policy Update as of Today

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Sinopsis

Benjamin Schenk and fellow colleagues recently did a 300 people survey on the housing policy under the quarantine due to COVID-19. The results are as follows: "After last week's City Council vote and Governor Newsom's Executive Order, I wanted to get back in touch to share two pieces of information.   We MUST avoid another 2008 foreclosure crisis. Local mom & pop Housing Providers care more about their tenants than does Wall Street. If Housing Providers default on their obligations, so too will the local lenders who provide vital credit and liquidity to our community. When that happens, Wall Street will purchase the assets from our local lenders at a substantial discount, and won't hesitate to liquidate the small apartment buildings -- of which our region's housing stock is comprised -- off their balance sheets and sell to vulture buyers, who would in turn evict previous tenants en masse to ensure the highest possible return on their investment.    We already watched this movie in 2008. And given our re