Millions of Americans skipping payments as wave of defaults and evictions looms • Hacker News Board

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

#571

Post by uoaei » Thu, Jun 04, 2020, 7:45 PM UTC

sokoloff wrote: post #570

uoaei wrote: post #565

Earlier quoted context omitted.

What I'm saying is obviously true. What you seem to be concerned about is that you think the premise is false. If that is so, you haven't really communicated that...

If an insurance policy covers all physical damage perils and riots are not mentioned as an exclusion, then riots are covered. It's not like physical damage coverage itemizes every possible source of damage and those that aren't listed aren't covered. I'm literally not understanding your claim, so it seems like we are indeed having significant difficulty communicating. Because of the way contracts are written, I think…

If riots are not covered then they are not covered. It's as simple as that.

I'm just saying you're making a whole lot of points without actually addressing the literal contents of my message, which would make this conversation much smoother because otherwise we are speaking past each other.

It looks like that presumption is wrong because riots will be covered under the umbrella of "physical damage" but you haven't really explicitly made that point by addressing mine, so it's hard to move forward with you to a productive conversation.

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

#572

Post by JadeNB » Thu, Jun 04, 2020, 7:47 PM UTC

dmarlow wrote: post #259

JadeNB wrote: post #74

Earlier quoted context omitted.

> 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. Surely the lesson here is that "this person was a criminally inconsiderate jerk", not "all S…

I'm not sure where you jumped to the conclusion about denying housing. I have no problems with section 8. I gladly accept section 8. What I have a problem with is (and I speak from first hand experience), is allowing someone who is on section 8 to not pay their portion. I allowed this, got burned and learned a lesson. I thought I was being kind and "helping them out". When, in reality, that individual didn't apprecia…

> I'm not sure where you jumped to the conclusion about denying housing.

I am sorry that I read too quickly, and misunderstood your point, which I think I now understand. Although I see now that you specifically quoted your parent's point "if they can't pay the hundred bucks the government won't I sure don't care" before disagreeing with it, I reacted too quickly and thought incorrectly that you were disagreeing with the parent's broader point about why it was good to have Section 8 tenants.

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

#573

Post by VRay » Thu, Jun 04, 2020, 7:56 PM UTC

nostrademons wrote: post #445

opportune wrote: post #436

Earlier quoted context omitted.

As a renter I honestly do not mind the corporatization. When I’ve looked for apartments in the past I’ve seen almost no difference in rents (as advertised on Craigslist, apartments.com, Zillow) between large corporate landlords and small time landlords, except for very high end luxury apartments I’m not in the market for. Yet I’ve heard countless horror stories about unresponsive/malicious small time landlords and ve…

There's more variance with small-time landlords. With a corporate overlord you know exactly what you're getting: they are going to be firm about sticking you to the exact terms of your lease and will raise your rent by the maximum possible each year, but you can also expect any maintenance issues to be taken care of quickly and they aren't going to feud with or retaliate against you. With a mom & pop you might get so…

I've rented apartments from giant corporations 4-5 times, and every single time I got screwed on the deposit on the way out. Presumably because they ran the numbers, and knew that they were better off nickel-and-diming people every time since most of their tenants wouldn't have the time or energy to drag them to small claims court.

There's also no way to negotiate with a person who has any actual power. You can talk to polite mooks all you want, but they can't actually change anything. You're guaranteed to get the maximum legally allowable rent increase every year and a huge pain in the ass battle for your deposit every time you move out.

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

#574

Post by diogenescynic » Thu, Jun 04, 2020, 8:08 PM UTC

MiroF wrote: post #546

diogenescynic wrote: post #539

Earlier quoted context omitted.

You read all 22 pages already? Bullshit. First pages mentions deflation... if tripling their money supply did nott lead to hyperinflation what will? Page two: >market peaked in the July􏰑September quarter of 1991. Those peaks were followed by steep declines in asset prices, culminating in contractions of real GDP in several quarters of 1992 and 1993 and deflation as measured by the CPI from July 199 My point was to f…

> if tripling their money supply did t lead to hyperinflation what will If you read your own linked paper, you will see that this is not what occurred - monetary base was substantially increased, sure, but that is not synonymous with money supply and there was no corresponding increase in M2. To your second link, which is not from a reputable source, your CATO paper directly contradicts claims of "huge" QE. It was ac…

Where did I say anything about scale? You're moving the goalposts and arguing about a tangent.

>Also, I will note that right wing sources are exactly who I would not expect to agree with me. They are hawkish on QE.

Right wingers are the ones most likely to argue QE leads to inflation--see Ron Paul. This conversation is a waste of my time. You're basically saying "I'm an expert, I know more than you" which is an appeal to authority, and I'm just pointing out that based on real world examples that we have, that isn't what happened. Theory and reality are not the same thing. End of discussion for me.

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

#575

Post by sokoloff » Thu, Jun 04, 2020, 8:41 PM UTC

uoaei wrote: post #571

sokoloff wrote: post #570

Earlier quoted context omitted.

If an insurance policy covers all physical damage perils and riots are not mentioned as an exclusion, then riots are covered. It's not like physical damage coverage itemizes every possible source of damage and those that aren't listed aren't covered. I'm literally not understanding your claim, so it seems like we are indeed having significant difficulty communicating. Because of the way contracts are written, I think…

If riots are not covered then they are not covered. It's as simple as that. I'm just saying you're making a whole lot of points without actually addressing the literal contents of my message, which would make this conversation much smoother because otherwise we are speaking past each other. It looks like that presumption is wrong because riots will be covered under the umbrella of "physical damage" but you haven't re…

Yes, if riots are not covered, they're not covered, but that will generally be obvious to the purchaser of the insurance (specifically by virtue of a clause about riots being excluded being present in the contract, in contravention to your claim above that "the clause [about riots] won't be in any contract to begin with". It will be there as an explicit exclusion.).

If the purchaser of the insurance makes the choice to purchase insurance which obviously and explicitly does not cover riots, they ought not be surprised when riots are not covered and it's not the insurer's fault.

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

#576

Post by StillBored » Thu, Jun 04, 2020, 8:44 PM UTC

NovemberWhiskey wrote: post #398

echelon wrote: post #335

Earlier quoted context omitted.

> a loan that can't be margin-called What do you mean by this? That the loan can't be eagerly collected in full? That the repayment is on a schedule?

Say you have $100,000. You could buy a house worth $500,000 with 20% down and a 30 year note. As long as you pay the mortgage, it doesn't matter how much the market value of the property changes. A drop of 40% in real estate prices that lasts for five years is not necessarily a problem. On the other hand, imagine you put $100,000 into a brokerage account and were able to get 2:1 leverage. You could then borrow $100,0…

You can get around this by purchasing leveraged funds/etc. Although that should never be considered functionally the same. That said, you could consider real-estate interest+taxes+upkeep similar to the inherent loss/overhead in leveraged funds.

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

#577

Post by dmarlow » Thu, Jun 04, 2020, 8:59 PM UTC

6510 wrote: post #555

dmarlow wrote: post #551

Earlier quoted context omitted.

The funny part about that shampoo bottle is that it's the same kind that they keep over the toilet in the cabinet... The reaction when I showed them the bottle was priceless.

Why did they lie? They feared you would kick them out? The horror of that conversation? You are ofc not responsible for the formula but... The most productive approach is probably to beg you for mercy at your feet?

No clue why they did. It was one thing after another, so it wasn't just the bottle issue. After a few inspections and things not being well kept, I decided it was best to not renew.

Do you honestly believe I expected them to beg for mercy at my feet? You need a reality check. The problem is that you don't fully understand the situation, the background, etc.

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

#578

Post by jeffbee » Thu, Jun 04, 2020, 9:13 PM UTC

rodgerd wrote: post #465

jeffbee wrote: post #236

Earlier quoted context omitted.

Mix shift. Oakland has just gone through a major wave of new construction. New apartments command higher rents. This does not necessarily imply a movement of people.

> Oakland has just gone through a major wave of new construction. New apartments command higher rents. Funny, the religion in these parts is usually that building more apartments is the only way to drop rents.

New construction (supply) brings down prices overall but rental market reports only include inventory turning over right now, which is biased toward new, empty, and more expensive buildings. These two facts are not conflicting.

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

#579

Post by staycoolboy » Thu, Jun 04, 2020, 9:39 PM UTC

tomjakubowski wrote: post #331

staycoolboy wrote: post #326

Earlier quoted context omitted.

> with eradication as the ultimate objective I don't think anyone is claiming to totally eradicate it, or did I miss something? Because as long as people travel, it will still exist, e.g., we still have SARS and MERS and ZIKA, just very low numbers. I thought the mindset was minimize it until we have a vaccine. I could be wrong.

No cases of SARS have been reported since 2004. It's probable that the SARS-CoV-1 virus was eradicated. That one might have been easier to control because it progressed much faster (and more commonly) to death than the novel coronavirus.

What about MERS and Zika?

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

#580

Post by bsanr2 » Thu, Jun 04, 2020, 11:38 PM UTC

fabianhjr wrote: post #453

bsanr2 wrote: post #408

Earlier quoted context omitted.

Titanic Syndrome. Everything's going under, but the people on the upper decks are still enjoying their late-night cigars while the boiler crew is drowning. It's an interesting phenomenon (and, I'm sure, has a better name than the one I just made up).

https://en.wikipedia.org/wiki/Cascading_failure

I wanna say, "There we go," but this is slightly different. Not so much that one failure unexpectedly causes total collapse down the line, more so that a catastrophic failure of important components (which obviously are going to cause a system collapse to anyone who knows what happened) happens in a system so large that other portions of that doomed system are not even aware.