Earlier quoted context omitted.
You may be biased as a WFH/silicon valley type (continuing to produce income despite shelter at home). The median checking account balance was $3,400 in 2019, and that was before COVID19 struck. There's a lot of people who were already barely hanging on, and now covid and demonstrations have pulled the rug out from under them. We're only 2 months in. Things will get worse before they get better. 1. https://www.valuep…
Does that mean anything though? I don't keep much in my checking account either since there's no interest.
Millions of Americans skipping payments as wave of defaults and evictions looms
271–280 of 595 posts
Re: Millions of Americans skipping payments as wave of defaults and evictions looms
#272Earlier quoted context omitted.
Yes, the shutdowns failed miserably if we thought we were going to eradicate infections. The government failed badly at communicating this. So now you have half the people saying the shutdowns were useless (cause the virus still exists) and another half saying they have to continue (cause the virus still exists, also)! If we had realistically wanted to squash this thing, the examples of other countries suggest we wou…
Can you define what you mean by saying other countries squashed the thing? They may have flattened the curve, drove numbers down, etc. but until they get either a herd immunity or a wide vaccination the infections will likely flare up again as soon as travel restrictions get lifted.
Re: Millions of Americans skipping payments as wave of defaults and evictions looms
#273Earlier quoted context omitted.
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Being smug and sanctimonious in response to having claims of lacking empathy being debunked isn’t a good look.
That seems like a clear failure of empathy and I fail to see how it was "debunked."
Re: Millions of Americans skipping payments as wave of defaults and evictions looms
#274I'm so extremely grateful that I accepted section 8 tenants into my rental units. Most of these tenants have nearly all of their payment covered by the government and they just have to pay $100 or $200 on top of that to cover what the government won't. These tenants are often not accepted by landlords because they're thought to cause more issues. Mine are great. They keep the units spotless, mow the lawn for me on my…
I guess being good sometimes pay I own an apartment in Rome that I rent because I don't live there anymore. It's rented to a Bengali family that nobody wanted as tenants because they're immigrants and such (you can guess the reasoning behind it) They used to bring the grocery home to my mother, so I gladly accepted to rent my house to them when they asked They've been the best tenants I've ever had and due to covid t…
Re: Millions of Americans skipping payments as wave of defaults and evictions looms
#275I'm so extremely grateful that I accepted section 8 tenants into my rental units. Most of these tenants have nearly all of their payment covered by the government and they just have to pay $100 or $200 on top of that to cover what the government won't. These tenants are often not accepted by landlords because they're thought to cause more issues. Mine are great. They keep the units spotless, mow the lawn for me on my…
> 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…
Your experience points to the human race sucking not poor people.
Re: Millions of Americans skipping payments as wave of defaults and evictions looms
#276Meanwhile stock market is preparing to for its record high :).
> Meanwhile stock market is preparing to for its record high :) Yes, and I don't understand it. The S&P500 is within 8% of its all-time high (3393). Even without a second wave of coronavirus cases and deaths, the current levels of unemployment, defaults, and bankruptices, I can't see what supports these asset price levels. Any ideas?
Add that demand with demand from rich people from other countries for the same services (who might just loot their country and therefore aren't subject to the same domestic economic pressures) and prices keep going up.
Re: Millions of Americans skipping payments as wave of defaults and evictions looms
#277Earlier quoted context omitted.
> 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.
It's a temporary stimulus payment anyway. We all paid for it. It helps a lot of people who really needed it, especially hourly wage workers in the service industry who instantly took a hit from the shutdowns and these workers tend to not have healthcare insurance to begin with due to the low wages. It would be foolish for someone who had a well paying job with benefits to permanently stop working for "more" money on…
The explicit intention behind CARES was to provide some resemblance of financial security during a very uncertain time. If paying people a couple hundred more dollars per week than they'd earn while working is what achieves that... and it's temporary... ok fine.
But the CARES Act will continue to payout through December... which is a long time from now... and that's if it doesn't become a political wiffle ball and get extended.
None of that has to do with the value an employee brings, or can earn while in the service industry.
Into the weeds, but... With a growing anti-tipping movement, I don't see how we can argue service industry workers can be paid more than they already are. If the market had the appetite for $30 diner burgers, we'd already be paying those rates, no? Wouldn't the business owners raise prices and just pocket the difference if people were willing to pay more?
I think that results in fewer people eating out... which leads to fewer service industry workers, which leads to some other problems.
Way into the weeds - I've long thought the solution isn't just to command more money be paid to service workers. We should instead focus on trade school and education to empower people to seek skilled jobs that pay far better. I'd fully support free or low cost trade schools and community colleges, and would rather pay taxes into that versus a $30 mediocre burger.
Re: Millions of Americans skipping payments as wave of defaults and evictions looms
#278If 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?
Re: Millions of Americans skipping payments as wave of defaults and evictions looms
#279As 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.
Same thing in SF. Demand dropped, but so did supply, so prices are holding reasonably steady at this point. I assume if prices drop, they won't stay low for long as people see it as an opportunity to jump into the market.
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Re: Millions of Americans skipping payments as wave of defaults and evictions looms
#280Earlier quoted context omitted.
> 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...