Morning Wire Eviction Moratorium & Plus Sized Travel | 7.1.23
Jul 1, 2023
Eviction moratoriums are ending in the Bay Area, leaving small landlords facing tough financial situations amid tenant struggles. The current housing market sees a rare dip in prices, but strong demand keeps sales going. Meanwhile, as airlines grapple with plus-size travel, the need for better accommodations is urgent. The drastic housing inventory decline is pushing new construction, but rising costs present challenges. Explore the intersection of housing and travel, highlighting pressing social issues in today's economy.
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Landlord's Losses
- Landlord Dorothy Wong is owed over $100,000 in rent.
- Her tenants, making $200,000 annually, bought a new home while living rent-free in hers.
Landlord's Struggle
- Oakland landlord Lynn Trong broke down in tears discussing the moratorium’s impact.
- She works three jobs to make ends meet while tenants don't pay.
Housing Market Trends
- U.S. home prices saw their first annual decline since 2012, dropping 0.2% this spring.
- However, prices are still rising month-over-month due to limited supply.