Cook County braces for ‘catastrophic’ wave of evictions, foreclosures in 2021 – Crain’s*

Moratoriums on evictions and foreclosures have prevented most people who’ve lost income during the pandemic from being displaced from their homes, but when those protections expire, a rush to the courts could be “catastrophic for Cook County renters and homeowners,” Toni Preckwinkle, president of the Cook County Board, said in a virtual press conference this morning.
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madigans_spooge
5 years ago

Who is going to move into the newly evicted houses and apartments? LOL.. They will just sit there vacant.

Tom Smithers
5 years ago

Not necessarily. Depends on the owners situation family member, friend, or themselves could move in. They could also sell or apartment tower operators can convert to condos.

Regardless the owner saves money not having to pay for the utilities and further, potential damage. They could still rent the place out with incentives lowering the net effective rent. It’s better than $0.

Riverbender
5 years ago

They will go back to the reality of paying the rent or be evicted. The ones to be concerned are the liquor stores.

Wolfnight
5 years ago

All going to plan for the Governor?

Foreclosed assets represent a buying opportunity at distressed prices for those who have money, like Billionaire Governors with offshore investment trusts/companies

A wise man told me earlier this year this was all part of the plan.

Freddy
5 years ago

And Illinois taxpayers will brace for massive catastrophic tax increases.

Hank Scorpio
5 years ago
Reply to  Freddy

Don’t worry; no matter what happens, Illinois will always remain 1 notch above junk…

Last edited 5 years ago by Hank Scorpio

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