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Millions of Americans skipping payments as wave of defaults and evictions looms

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Re: Millions of Americans skipping payments as wave of defaults and evictions looms

#201

Post by joshstrange »

MattGaiser wrote: post #37
cft wrote: post #11

Earlier quoted context omitted.

I wonder who downvotes this and why.

QE has been going on for years since 2008. Still waiting on that inflation. https://www.usinflationcalculator.com/inflation/historical-i... QE contains an easy break on inflation. If it starts surging, the market can just have the assets the fed holds added back to it.

It's really easy to hand wave away all the inflation when you change the formula. They have so many "soft" factors they use and completely subjective ones that the reported inflation is in no way matched real world inflation. They only changed the way it was calculated because the national deficit was getting out of control. GDP is, simply, growth - inflation. If you can make inflation look lower you can make GDP look higher.

Re: Millions of Americans skipping payments as wave of defaults and evictions looms

#202

Post by _jahh »

londons_explore wrote: post #130
hamandcheese wrote: post #15

Earlier quoted context omitted.

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.

Auto loans should allow you to return the vehicle and walk away... They should be more "rent-to-own". 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.

what happens if you crash it first it or ding it up or run it as an uber and have lots of trash passengers? you're talking about leases vehicles which already exist.

Re: Millions of Americans skipping payments as wave of defaults and evictions looms

#203

Post by Grimm1 »

ianlevesque wrote: post #183
jungletime wrote: post #153

Earlier quoted context omitted.

You're very lucky. Rented to a single mother with two teenage sons. The teenage sons that decided to strip down living trees of their branches, to make bonfires for parties in the backyard. Two trees are severely damaged, and anything that was burnable in the landscape is burnt. I don't even know how to go about pricing out the damage. Insurance is paying for their rent, because the last house they lived in burned do…

These stories that come out of the woodwork every time tenants are mentioned are why I’ll never be a landlord.

My simplified understanding is that this is what REITs are for. They're an investment vehicle for companies looking to build real estate they don't have the capital for. They raise through a REIT and you wind up with a dividend of some kind out of what they make from tenants. It minimizes the risk for a general investor.

Disclaimer: I know very little about them, this is not a recommendation I probably have some details wrong, just something I've seen floated around.

Edit: Someone want to jump in with what they are then? Not like I said go do this right now or something, would genuinely like to learn what I'm wrong about here. Downvoting without a response continues to be the weakest part about this community.

Re: Millions of Americans skipping payments as wave of defaults and evictions looms

#204

Post by thephyber »

mikem170 wrote: post #136
ceejayoz wrote: post #101

Earlier quoted context omitted.

> Also the increase in deaths you link to is not statistically significant, given it is in the rage of 10-30 over the course of several months in a state with 10 million people. A penny doubled daily is $0.64 after a week, $81.92 after two, $10,485.76 after three, and $1,342,177.28 after four. Upwards movement in cases and deaths in something that spreads exponentially is... not great.

Nothing is doubling every week anymore. Why did you bring that up? Daily deaths across pretty much all nations are decreasing even as lockdowns are removed. Nit pick all you'd like, be as afraid as you like, but the numbers you supplied don't support your assertions.

> Nothing is doubling every week anymore

Exponential growth of the disease isn't tied to an arbitrary "week" timeline. It's delayed because of a 0.25 - 4.0 weeks. Different environment and behaviors will cause it to spread at different time intervals (not just a different number of recipients per spreader).

> Daily deaths across pretty much all nations are decreasing even as lockdowns are removed.

And COVID death doesn't happen within days of new exposure. It's delayed 3.5 - 5+ weeks after exposure and the people most likely to die aren't the ones walking around in public on the first day of end of SiP.

Your parent comment wasn't as outrageous as you make it seem.

Re: Millions of Americans skipping payments as wave of defaults and evictions looms

#205

Post by refurb »

calcifer wrote: post #156
dmarlow wrote: post #135

Earlier quoted context omitted.

I think you are very presumptuous. I grew up in poverty in a third world country and know what it's like to not eat, and when I did eat, I remember having to pick bugs out of my beans before cooking them.

.

Or you know, someone sharing thoughts who has "been there, done that".

Re: Millions of Americans skipping payments as wave of defaults and evictions looms

#206

Post by mikem170 »

aphextron wrote: post #157
bitbuilder wrote: post #129

Earlier quoted context omitted.

>Is there a dashboard which shows increase in testing capacity over that same period 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…

>"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." How is a 34% increase not statistically significant?

>How is a 34% increase not statistically significant?

Because going from a daily death rate of 0.00017% to 0.00022% is still such a very small number, what might be called statistical noise.

Re: Millions of Americans skipping payments as wave of defaults and evictions looms

#207

Post by ceocoder »

inetknght wrote: post #178
jungletime wrote: post #153

Earlier quoted context omitted.

You're very lucky. Rented to a single mother with two teenage sons. The teenage sons that decided to strip down living trees of their branches, to make bonfires for parties in the backyard. Two trees are severely damaged, and anything that was burnable in the landscape is burnt. I don't even know how to go about pricing out the damage. Insurance is paying for their rent, because the last house they lived in burned do…

I'm not a lawyer but reddit's r/legaladvice seems to enjoy referring to people to tree lawyers. From what I gather there's a lot of money involved in tree laws. And if you've got picture evidence that's especially loved by lawyers.

Here[0] is one I reading from last year, treelaw is no joke. Birdlaw however is very much a joke.

[0] https://www.reddit.com/r/legaladvice/comments/7p3ubz/updateo...

Re: Millions of Americans skipping payments as wave of defaults and evictions looms

#209

Post by sytelus »

ponker wrote: post #176
jungletime wrote: post #153

Earlier quoted context omitted.

You're very lucky. Rented to a single mother with two teenage sons. The teenage sons that decided to strip down living trees of their branches, to make bonfires for parties in the backyard. Two trees are severely damaged, and anything that was burnable in the landscape is burnt. I don't even know how to go about pricing out the damage. Insurance is paying for their rent, because the last house they lived in burned do…

Are you that worse off if they burn it down? You won’t have to worry about them resisting eviction and you’ll get an insurance payment.

Typically insurance payment doesn't cover everything. You will almost always be at some loss, often much greater than year worth of rent. Also, I'd suspect your future premium rates would rise given insurance companies will see increased risk due to your history of getting bad tenants.

Re: Millions of Americans skipping payments as wave of defaults and evictions looms

#210

Post by Alupis »

mydongle wrote: post #171
DevKoala wrote: post #143

Earlier quoted context omitted.

A friend of my girlfriend is on that situation, $1600/wk is more than what she earned previously, and isn’t looking forward for the store where she worked on to re-open or looking for a different job. It gives me a mixed feeling about the policy because it turns out I personally know the one example conservatives would like to point out. However, I’d like to read a deep study about the impact of the measures taken be…

All that proves is how deeply underpaid those jobs were. Say that $1600/wk is perfectly livable for her. That means formerly, she was working at a job that did not pay her enough to live, but she was forced to because the alternative is worse. Arguably, for many people, they could live on even less than that. Countless people who are forced to be in the job market, slaving away at crappy jobs at the threat of poverty…

> All that proves is how deeply underpaid those jobs were.

How does it do that?

The CARES Act specifically pays money per week in addition to what unemployment pays.

So, whatever you made before, even if it was a sustainable wage, you make more by not working right now, even if you could be working.

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