121–130 of 595 posts
As a passive real estate investor I'm seeing bidding on new sales has actually been more competitive than ever in my area (Atlanta GA). A lot of houses are selling above asking prices with 8-10 offers on the table. I am not sure if people genuinely think it is a good time to buy, or is it mostly FOMO.
I have a commercial tenant who was forced to shut down their business during the lockdown. I just waived rent until they were allowed to reopen. You can't get blood from a turnip, and I really don't want to force them into default and try to find another tenant in this environment anyway. Almost everybody is taking a haircut this year.
Isn't the smarter move to defer payment of the rent for a few years? One day, they'll be able to pay, and then you'll get paid.
A high-margin business with low cash on hand, that's temporarily impacted by COVID is another story - they might be able to pay up later.
Earlier quoted context omitted.
>If there is no spike in infections within two weeks, from areas which had large public protests in the past week, can millions of Americans be helped by restarting the economy? Daily new infections have more than doubled here in North Carolina in the last two weeks since "reopening" [0]. We have had more new cases in the last two weeks (2200) than in the entire length of lockdown from March until then (2000). The de…
Yeah, the 7 day moving average of new cases and deaths is also slowly trending up [1]. I think we all wished COVID would just go away, but that seems unlikely. [1] https://www.worldometers.info/coronavirus/country/us/
Regardless, your second sentence is true.
This is just the start. Landlords would be smart to work with tenants to share some of the loss and renegotiate temporary adjustments to keep at least some revenue coming in because the heady days of high demand for rental units is likely behind us for a while. It'll be worse in downtown areas. I've heard from multiple firms that are looking at downsizing their expensive office space and continuing to allow employees…
In California for example, due to state-wide rent control, it's very dangerous for a landlord to lower rents. I would rather offer 6 months free rent than lock into permanent nonadjustable lower rent situation.
Working class people are going to be decimated. No income and the cost deferral cliff.
Middle class (office workers are least) and upper class people will do very well. They still have their jobs and their costs have collapsed.
I am no longer paying for gas, childcare, bussing fees, car insurance, and all manner of other things. I can shop at Costco now that I have more time, saving me even more. Nobody is buying lunch out as we now have tons of saved time to make food ourselves. I used the crisis to squeeze by suppliers of internet and cell phone and whatnot. We now save 40% of our take home pay.
Personally the crisis has been great for me.
Earlier quoted context omitted.
>If there is no spike in infections within two weeks, from areas which had large public protests in the past week, can millions of Americans be helped by restarting the economy? Daily new infections have more than doubled here in North Carolina in the last two weeks since "reopening" [0]. We have had more new cases in the last two weeks (2200) than in the entire length of lockdown from March until then (2000). The de…
Remember the whole point of shutdowns was to "flatten the curve" to keep the hospitals from being overrun. We can't stop the disease and we can't commit economic suicide. NC has only seen a slight uptick in hospitalizations: https://covid19.ncdhhs.gov/dashboard and it's been flat for the past week.
So it's all right for deaths to spike if the hospitals don't expend their resources dealing with it? What are the hospitals for, then?
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> when things come easy to people I think you have a very misguided idea of what it's like to live in poverty.
I think you have a very misguided idea of what it's like to be a landlord....and perceptions of who/what 'landlords' (a very unfortunate term) are from some tenants... no good deed goes unpunished etc. Plenty of great people around but you have to be very careful who you rent to...
This goes both ways. You have to be careful who you rent from, too.
Of all the investment opportunities available to people, I'm not particular sympathetic to purchasing property to seek rents.
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> if they can't pay the hundred bucks the government won't I sure don't care I used to have this same mentality. Until the person who was renting one of my properties decided to lie about certain issues (like claiming a shampoo bottle lodged down one of the toilets was there for years). When I decided to not renew the lease with that tenant, they decided to cause considerable damage to our property. Sometimes, when t…
> when things come easy to people I think you have a very misguided idea of what it's like to live in poverty.
Also, people often have a short memories when it comes to people that help them out financially. They might remember and appreciate it more if you help them move, or help them learn a craft.
Earlier quoted context omitted.
>If there is no spike in infections within two weeks, from areas which had large public protests in the past week, can millions of Americans be helped by restarting the economy? Daily new infections have more than doubled here in North Carolina in the last two weeks since "reopening" [0]. We have had more new cases in the last two weeks (2200) than in the entire length of lockdown from March until then (2000). The de…
Is there a dashboard which shows increase in testing capacity over that same period, case demographics, presence of other medical conditions, and asymptomatic cases? With increased (including employment-related) testing, case count should be increasing everywhere, but some of those could be recovered or asymptomatic. We know that most hospitals were well below capacity, so new cases can be treated.
Here's the best resource Ive found for comparing all the relevant data:
http://91-divoc.com/pages/covid-visualization/
Playing around with the data there, it looks like yes NC has had an increase in cases recently, but it tracks an increase in testing. Test positivity rates are about flat. It really is completely pointless to discuss increases in cases without also comparing to increases in testing and positivity rates.
Deaths are up, but as another poster pointed out it's hardly statistically significant. The rolling 7 day average is 2.2/1m now, vs 1.7/1m on May 1st.
Guy has what looks like a luxury truck and is apparently having trouble deciding between food and his car payment. Sell the car, get a cheap used beater, reduce expenses, keep looking for a job. Not sure what NPR wants me to take from this example.
Many people finance expensive cars with no money down and are immediately underwater on their loan. In a situation like that, you can’t offload your vehicle easily without also coughing up thousands to cover the difference between the car’s sell value (who is even buying right now?) and the cars loan balance.
In fact, in my opinion, all secured loans should be this - you should be able to hand over the security to the lender, and walk away without penalty.