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Evictions Shoot up 80% as Rent Prices Financially Destroy Millions of Americans

by Epic Economist
May 5, 2023

New data just revealed that eviction cases in the U.S. have jumped by almost 80% since October 2022. Official agencies report that about 13% of the U.S. population, which represents over 40 million people, is at risk of losing their homes this year amid explosive rent prices and a worrying trend among some of the country’s biggest landlords of increasing the rate of monthly evictions to boost their cash flow growth.

While companies and investors worry about their bottom lines, families are losing everything, and homelessness is growing all across the country. Housing advocates say this is the cliff we’ve been warned about and things will only go downhill from here.

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Corporate landlords are removing renters from homes at rates that largely surpass the typical pre-pandemic rate, a new report from the Eviction Lab at Princeton University shows. Analyzing how eviction levels changed in 32 U.S. cities over the past six months, researchers found that landlords in these areas filed about 970,000 eviction cases every month, a whopping 79% increase compared to a year prior.

In Phoenix, for example, rent prices shoot up over 25% year over year, with a median asking rent of $2,261. In Maricopa County alone, evictions are at their highest levels since at least 2016, with more than 45,000 filings so far this year. “Lately, it just seems to be all that we’ve been doing,” said Huberman, the presiding justice of the peace for Maricopa County.

Even areas experiencing less dramatic increases in rent are witnessing a rise in evictions as Americans scramble to cope with inflation. In Minneapolis, where rent increases have trended below the national average, evictions in December were 37% above their historical averages after shooting up in June, when the state lifted its eviction moratorium.

In the last quarter, the Las Vegas Justice Court head over 45,000 eviction cases, a significant rise compared to earlier years when the average was closer to 30,000 cases. In Dallas County, home to the city of Dallas, landlords filed almost 60,000 evictions in the past four months. This is not just a problem isolated to major urban centers, but also rural and industrial communities, where housing costs have been surging at an alarming pace as well.

The latest analysis of weekly U.S. Census data indicates that in the absence of robust and swift intervention, an estimated 44.5 million people in America could be at risk of eviction in the next several months. That represents about 13% of the U.S. 331 million people population.

“My biggest fear is the cliff that we’ve been all anticipating is here. From here on out, it’s going to be a very, very difficult time,” highlighted Tim Thomas, research director at the Urban Displacement Project at the University of California, Berkeley. “I don’t want to be a doom and gloom person, but we’re probably about to see the worst of what’s about to happen.”

Advisor Bullion Surge

Although inflation has finally started to ease, overall economic uncertainty is still on the rise, and rents nationwide are still $800 more expensive than in 2019. Before the pandemic, the median rent in the U.S. was at $1,062. Today, it stands at $1,937. America can’t afford to wait for another major national emergency to happen to finally start taking action. People are losing the roof above their heads, and their sense of dignity and security now, so we must act now before this crisis spirals out of control.

Article cross-posted from Epic Economist.

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Two Storms, One Harvest

Empty Shelves

Every food crisis in living memory has been a one-shock event. The 2008 price spike was a commodity bubble. The 2020 shortages were a logistics failure. The 2022 grain scare was a war on one exporter’s ports. Each time, the system bent, adjusted, and recovered, and each time the experts assured us afterward that global markets are simply too big and too diversified to fail.

What nobody in Washington seems eager to discuss is that 2026 is shaping up to be something the modern food system has never actually faced. Two independent shocks, one climatic and one geopolitical, are converging on the same harvest cycle at the same time. Not sequentially. Simultaneously.

Start with the weather. The Pacific Ocean is currently building toward what forecasters now openly call a record event. NOAA’s Climate Prediction Center puts the odds of at least a strong El Niño near 88 percent, with roughly two in three odds it reaches “very strong” status, the tier reserved for perhaps three or four events in the entire satellite era. Every major global model now projects a median peak in Super El Niño territory, and most of them project it exceeding the 2015-16 event, which until now held the modern record. Sea surface anomalies were already brushing the super threshold in mid-July, months before these events normally peak. The atmosphere has already shifted into El Niño mode, and the event is forecast to crest in late fall and early winter.

This is not about “climate change.” It’s about the standard cycles of weather, and the cycle we’re currently in is one that has likely devastated societies in the past. We’re better prepared as a society today, but not all Americans are equally prepared.

Serious households have started doing the quiet math on their own. Grocery bills tell part of the story, and the forecast maps tell the rest, which is why long-term food storage has moved from fringe hobby to mainstream line item in the family budget, with established suppliers like Heaven’s Harvest seeing demand from people who five years ago would have rolled their eyes at the idea. That instinct is not paranoia. It is pattern recognition, and the pattern is worth walking through carefully.

Editor’s Note: Heaven’s Harvest IS a sponsor, but the warnings of this article are real and would be written even if we didn’t have a survival food sponsor. With that said, those who take advantage of what they offer can use promo code “Patriot” for 15% off.

The Fertilizer Clock Is Already Running

While the Pacific warms, the second shock has been unfolding in the Strait of Hormuz. The conflict with Iran turned the world’s most important energy chokepoint into a contested waterway, and the consequences reach far beyond the gas pump. Roughly a third of global fertilizer trade moves through Hormuz, and the disruption sent urea prices up 86 percent year over year by March, with a 53 percent jump in a single month.

The World Bank projects energy prices rising about 24 percent in 2026 and fertilizer about 31 percent. By its own accounting, fertilizer prices ran 35 percent higher in the first five months of this year than the same period last year.

Here is the mechanism the nightly news will not explain. Fertilizer is not a grocery item. It is a time-delayed input. The nitrogen a farmer in Iowa or Punjab could not afford to apply this spring does not show up as a problem this spring. It shows up as a thinner harvest six to twelve months later.

The World Bank’s own food security brief concedes that the effects of reduced applications earlier this season “are likely to become visible only later in harvest outcomes.” Translate that from institutional language into plain English and it means this. The damage is already done, it is already in the ground, and we are simply waiting for it to arrive on the shelf.

Now check the calendar. Six to twelve months from the spring planting season lands us squarely in late 2026 and early 2027. Which is precisely when the strongest El Niño in the instrumental record is forecast to peak, bringing its signature droughts to Southeast Asia, Australia, southern Africa, northern Brazil, and South Asia, the very regions that grow the world’s rice, sugar, and oilseeds.

The World Bank warns openly that a strong El Niño “could disrupt multiple crop belts simultaneously” on top of the conflict-driven input costs. Their baseline projection assumes the Middle East disruptions ease by autumn. What in the last two years of Middle East history suggests that assumption is safe?

The System Has No Slack Left

The comfortable answer is that global markets always adjust. But adjustment requires slack, and the slack is gone. Global cereal production is expected to decline from last year’s records even before El Niño does its work. The UN World Food Programme, hardly a den of right-wing preppers, is calling this the most significant disruption to its supply chains since Covid and the invasion of Ukraine, and its supply chain director put the stakes bluntly.

Today’s supply chain challenges are tomorrow’s hunger crisis.

There is also a political dimension that markets cannot price. When food gets scarce, governments do not behave like economists. They behave like politicians. Export bans, hoarding mandates, and panic buying at the national level turned the modest rice shortfall of 2008 into a global crisis, and analysts are already warning that import-dependent nations are the first dominoes.

The 2015-16 Super El Niño, a far weaker event than what is now forecast, threw tens of millions into food stress across Africa and Asia. This one is projected to be stronger, and it arrives with fertilizer already rationed by price and shipping lanes already contested by missiles.

What Joseph Knew

Scripture does not treat preparation for lean years as faithlessness. It treats it as wisdom delivered in advance to those willing to act on it.

Behold, there come seven years of great plenty throughout all the land of Egypt: And there shall arise after them seven years of famine; and all the plenty shall be forgotten in the land of Egypt.

Joseph did not respond to that warning with a hashtag or a committee. He stored grain during the years of abundance, and when the famine came, Egypt stood while its neighbors begged. The lesson is not that famine is certain. It is that the time to prepare is precisely when preparation still looks optional.

Nobody who filled a pantry in a year of plenty has ever regretted it, and nobody standing in an empty aisle has ever been glad he waited for certainty.

None of this calls for panic, and panic is the enemy of sound judgment anyway. It calls for the same unglamorous prudence our grandparents considered ordinary. Keep some cash margin, know your local growers, and put real food in deep storage while it is cheap and available, because the entire arc of this story is that cheap and available is a closing window.

Families looking for a straightforward place to start can visit Heaven’s Harvest and use promo code Patriot for 15 percent off long-term storable food. The forecasts may yet soften, the strait may yet reopen, and we should pray they do. But hope is a fine thing to hold and a foolish thing to eat.

Comments 9

  1. Rocketman says:
    3 years ago

    Because they don’t want to/have no interest in working. They want everything to be free. Parasites every last one of them.

    Reply
  2. Walter kowalczyk says:
    3 years ago

    But HEY, Look at the made up employment numbers!!

    Reply
  3. Tommy Two Gears says:
    3 years ago

    Gee, rent prices have spiked ya say? Evictions have spiked ya say? A wise man once said; “For every action, there is an equal and opposite reaction.”

    When this feckless government declared from on high during the WuFlu scandemic that tenants did not have to pay rent nor could they be evicted what did any logical person think would happen? Landlords that actually survived that dictate had to make back their loss. Rent prices were sure to escalate greatly even if there was no overt inflation. Evictions have just begun to spike…..way too many newly minted squaters became accostomed to sitting home, collecting hyper-enhanced unemployment benefits. That gravy train has come to close. Couple that now with an already freshly allowed 6 million illegals with an additional 6 million more and rent prices will certainly continue to explode.

    Biteme and his handlers at their best………

    Reply
  4. Bill Halcott says:
    3 years ago

    Oh, yeah. Things are great. Inflation is down. Prices are down. Unemployment is down. Sure, sure. I have to get my eyes examined because that’s not what I see in my community.

    Reply
  5. SilenceDoGood says:
    3 years ago

    Don’t worry, the government will fill those soon to be vacant apartments with illegals, paid by us, the tax payers.

    Reply
    • GERALD SIMPKINS says:
      3 years ago

      Bingo! And census info is how they will do it.
      I think it’ll go something like this:
      Census & county records show you are a family of 3 living in a large home.
      Govt says you must take in two illegals, OR pay a TAX.
      Wealthy people pay up, people barely making it take in illegals.
      First place this will happen is California. Other states OR cities will follow.
      The government’s power to tax has NEVER been overturned by SCOTUS. That is the only way Obamacare passed the sniff test for SCOTUS to OK it.

      Reply
  6. no way says:
    3 years ago

    they need a new voting/handout class

    Reply
  7. bert33 says:
    3 years ago

    will they shoot us now for having a low credit rating

    Reply
  8. Vladimir says:
    3 years ago

    Mass Violence against the parasitic elites and ruling powers, the banker class, is what is necessary.

    Reply

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