Opinion: The coronavirus pandemic permanently destroyed our property rights
SACRAMENTO – I don’t pay particular attention to health scares, so when talk of a spreading pandemic started dominating the news cycle I largely shrugged and went about my business. I was staying at a cheap motel in Calexico, taking photos of the New River and the Salton Sea for my
about California water policy, when my wife called from Sacramento and said, “You better get home. And I mean now.”began. I recall stopping at a grocery store near Modesto, when I noticed meandering lines and a run on toilet paper. The rest, as they say, is history. Like most people, I never could have predicted the coming shutdown of the economy, government orders to stay at home, an end to restaurant dining and public gatherings, and profligate “relief” payments.
In making it virtually impossible to evict non-paying tenants, policymakers imposed the full cost of their public-health plans on, who could no longer count on getting a return on their investment. Often, property owners have mortgages – and they always have tax and insurance bills. When a heating system or roof leaks, they’re still required to make repairs. But they no longer could count on receiving rents.
However, I thought that most people – even renters who have had less-than-stellar rental experiences – might understand that if the government deprives owners of their supposed state constitutional right to a fair return on their investment, fewer people will go into the business and even fewer will upgrade their properties. That helps no one.
The result is obvious: fewer available rentals and fewer rentals in tip-top condition. Investing in rental property has always been a prime means for middle-class people to. My grandfather was an immigrant paperhanger who invested in Philadelphia row houses decades ago. Now, I talk to many people who won’t dare buy a rental house out of the legitimate fear that the government can suspend rent payments at will.
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