Writing · Capital / Finance / Investing
Free Compassion: The Policy That Costs Landlords Everything and Renters Their Future Housing
Reading this article about Atlanta stopping all evictions during the government shutdown made me think of the "Illusion of Free Compassion".
It makes perfect sense, right? Make private landlords pay the price for a government shutdown.
When rent stops, who helps the landlords? No one. We act surprised when affordable housing disappears, but this is how it happens, slowly, through “temporary” policies that shift risk without any repayment.
It feels like COVID all over again. The same reasoning that says, “Freeze evictions to protect residents,” never asks, “Who protects the housing providers?”
When rent stops, bills don’t. Owners still have to cover mortgages, property taxes, insurance, payroll, and repairs. None of those expenses takes a holiday during a crisis.
Without income, landlords dip into reserves, take on debt, or fall behind. Maintenance slips first, then reinvestment. Over time, some sell, some default, and the stock of affordable housing shrinks.
Yet we keep repeating the same pattern, teaching a generation of renters and politicians that during every emergency, it’s acceptable to make private owners carry the cost of public failure.
Empathy without economics ruins the very thing it tries to protect.
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