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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

#311

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.

If being a landlord was so awful they’d sell the property and call it a day. They want to make it sound worse than it is.

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

#312

Earlier quoted context omitted.

I don't disagree, but it's important to remember that when rent control is proposed, it's because some people are very desperate. It would behoove us to suggest viable alternatives every time it's proposed and we shoot it down.

After my father died, my mother rented out the lower floor of her home. I think your definition of desperate is unfair it it includes only tenants. Not all "landlords" are taking on the headache of renting out units because they are professional landlords -- many are similarly disparate, have mortgage payments, property tax, repairs, utilities, etc. I'd be in more favor of rent control if it would also freeze propert…

Most places with rent control also have similar limits on property tax increases. In fact, I think most places have limits on property tax increases because property taxes are largely just some number pulled out of the ass of some bureaucrat.

Utilities across the US also have regulated rates.

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

#313

Lockdowns are effective as tourniquets, but indefinite or long term use was never logical. There should have been more forward-thinking and pragmatic options pushed earlier. We will now see the natural repercussions of lockdown-centered policies.

I think you may have misunderstood the point of lockdowns. Lockdowns are/were intended to prevent jamming hospitals with COVID patients which would lead to non-COVID emergencies being put at risk. The idea is to lockdown an area not to STOP, but to SLOW the trickle of new patients into hospitals at a rate they can be serviced: e.g., balancing the pipeline. In anticipation of the huge surges seen in the North East US,…

In Europe we are using lockdowns to get infections sufficiently low to do test, trace, and isolate - with eradication as the ultimate objective.

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

#314
post #194

I'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 don't suppose the struggling non state supported private renters whom you outbid to buy these houses, which they might otherwise have been able to afford to buy themselves, but who are now paying rent to some other landlord instead, are quite so enamored with your altruistic enterprise.

You said something negative about landlords. You can really see from the rash of landlords on this post why hacker news is hugely pro landlord.

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

#315

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…

Be careful not to swing too far the other way and assume that a flat positivity rate implies a flat actual infection rate. As states increase testing capacity, lower risk individuals will start to become part of the testing pool (e.g. those without severe symptoms, those with only fleeting contact with someone infected, those with no connection at all as part of a disease surveillance measure, etc.). Thus a flat test…

That's a fair point, and definitely something to keep in mind. Thank you for highlighting that.

I know you're not debating NC, but looking again at the state, it was mostly the last few weeks that looked flat. If you compare to the peak in positivity 42 days ago, they've gone from 16% positive to to 7% positive, using rolling 7 day averages. So, if I were in NC I wouldn't be overly concerned.

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

#316
post #17

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…

You’ve got it backwards when it comes to residential real estate. More people become renters during a recession. Vacancies reduced dramatically after 2008. https://fred.stlouisfed.org/series/RRVRUSQ156N

2008 didn't have airbnb imploding at the same time.

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

#317

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…

There are more tests than there were a month ago, and that affects how many positives are seen (by some amount). 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. Those numbers don't prove your point.

We need to have another bucket in the covid classification system besides dying and no dying:

https://www.cbc.ca/news/canada/toronto/strange-symptoms-flar...

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

#318

Earlier quoted context omitted.

I think you may have misunderstood the point of lockdowns. Lockdowns are/were intended to prevent jamming hospitals with COVID patients which would lead to non-COVID emergencies being put at risk. The idea is to lockdown an area not to STOP, but to SLOW the trickle of new patients into hospitals at a rate they can be serviced: e.g., balancing the pipeline. In anticipation of the huge surges seen in the North East US,…

In Europe we are using lockdowns to get infections sufficiently low to do test, trace, and isolate - with eradication as the ultimate objective.

This. Look at what New Zeland [1] has been able to do (or any Asian country that had plans in place post-SARS).

The US lockdown should have been used to buy us time to put procedures in place to stop further spread.

1 - https://bing.com/covid/local/newzealand

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

#319
post #310

Earlier quoted context omitted.

The largest insurance claim I've had was for a little over $5k for a vehicle repair after collision while avoiding a pedestrian in the street. I'm not sure if you think that's "large" but it was very painless to do IMO.

I wasn't able to collect on insurance for “damage not due to a collision” on my motorcycle when it blew over in strong wind, because the insurance agent said, “There was a collision. When your motorcycle fell over it collided with the ground.”

What does it cover? Isn't any sort of damage potentially a collision?

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

#320
post #76

Earlier quoted context omitted.

I want to agree but I’m not sure landlords are exactly to blame for high rent. There are many people and players involved-like the willingness of people to pay so much of their income to housing. Part of why you can’t find a better deal is everyone else willing to take the higher price.

> There are many people and players involved-like the willingness of people to pay so much of their income to housing You are saying that "the supply line isn't to blame for the demand line" when the problem is where they intersect. I realize Im oversimplifying the supply constraints because landlords aren't all of the NIMBY problem.

I agree. It’s a faulty line of reasoning. I’ve felt it before though so it might be a “gut feeling” fallacy.
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