The Next Catastrophe is knocking At Our Door
The first half of 2020 was heavily influenced by gloom and doom predictions that have left the economy in shambles, and the economic outlook highly uncertain. But another catastrophe is looming that very few folks are talking about; THE EVICTION TIDAL WAVE & HOMELESSNESS. The LA Times reported, back in March of 2020, that The Mortgage Bankers Association is anticipating nearly 15 million mortgages would go into default as a result of the economic decline caused by COVID-19. With some additional data behind us, I have seen revised predictions as low as 1.5 million, still a significant number.
On top of this, is the number of rental properties in default. As reported by the Maryland Independent, locally, in Southern Maryland, property management companies are seeing approximately 30% of their rentals in default, which is alarmingly high. But there is more. The end is not anywhere in sight. The Charles County Government has indicated they will not be holding Landlord-Tenant Court until after September 1, 2020, and many other local Governments are doing the same. By this time, there will be tenants that are 6 months or more behind on rent payments, and the back-log of cases is certain to be enormous, and will take some time to filter through the court system with evictions anticipated to begin sometime during the Fall of 2020 and continue in the Winter of 2021.
What are the signs of impending housing issues? You don’t need to look any further than the homeless camps popping up and growing all over the County……yes, they have already begun growing without evictions even being initiated. Behind our office on Smallwood Drive there are 3 camps with an estimated 40-50 people living in them, including families with kids. There are many other camps popping up all over the area. In our interaction with these families, everyone’s story about how they came to be in their situation, is unique. One thing is for sure; without help, it is very difficult to climb out of homelessness.
DeHanas Real Estate Services recently began an out-reach program charged with helping to make the homeless more comfortable, and feeding the hungry. On a Wednesday evening in May, 2020, we served hot meals to 1000 people from our office in Waldorf. Going into this event, I honestly could not have imagined that we would have gone through 1000 meals!! This scenario is being played out all over the region. One of the charities we participate with is Our Place, Waldorf, a local soup kitchen. On a normal (pre-COVID) evening, there are 70-80 folks there for meals. That number has doubled, and its growing. What can you do? Get involved. Check on your neighbors. Donate your time or money to local charities. There has never been a greater need in time, than there is now, to become a good Samaritan.
We do not know if the remainder of 2020 will bring us aliens or super volcanos, and certainly a second wave of COVID could make recovery that much more difficult. But, there is a family in your neighborhood that needs help, or will need help that is one thing we can count on. If we are “All in this together”, then TOGETHER we will get out of “this”.
If you would like to donate grocery items, please call 301-870-1717