Almost 90 percent of NYC bars and restaurants couldn’t pay August rent
1–10 of 328 posts
Re: Almost 90 percent of NYC bars and restaurants couldn’t pay August rent
#2Bail them out. We bailed out far worse in this lifetime for us to wince at this.
Re: Almost 90 percent of NYC bars and restaurants couldn’t pay August rent
#3Bail them out. We bailed out far worse in this lifetime for us to wince at this.
That money just goes straight to landlords.
Henry George's time has come.
Re: Almost 90 percent of NYC bars and restaurants couldn’t pay August rent
#4Re: Almost 90 percent of NYC bars and restaurants couldn’t pay August rent
#5Earlier quoted context omitted.
That money just goes straight to landlords. Henry George's time has come.
Those landlords also need bailing out. They need to pay their loans, as well.
I don't want my tax money used to bail out landlords. Let the lenders foreclose. If the landlords didn't want to deal with loans then they should have paid cash for the properties.
Re: Almost 90 percent of NYC bars and restaurants couldn’t pay August rent
#6Bail them out. We bailed out far worse in this lifetime for us to wince at this.
There are "660,755" restaurants in the US (according to Google), and average rent is $5,000/month = $3,303,775,000 (3 billion per month).
Seems doable? Except .... did you forget about all the other places not paying rent? My guess is around 10 million of them.
So "only" $60 billion or so per month.
Is that affordable? Well, do you want to pay that in taxes?
Re: Almost 90 percent of NYC bars and restaurants couldn’t pay August rent
#7Earlier quoted context omitted.
Those landlords also need bailing out. They need to pay their loans, as well.
I don't want my tax money used to bail out landlords. Let the lenders foreclose. If the landlords didn't want to deal with loans then they should have paid cash for the properties.
I'm interested in my tax money being used to help stabilize the local population to minimize harm to them during this time and thereby minimize unrest and keep the whole of it safer.
If my money is going to be going to making missiles and weapons for overseas, some of it can come back and pay for rough times instead.
Re: Almost 90 percent of NYC bars and restaurants couldn’t pay August rent
#8Bail them out. We bailed out far worse in this lifetime for us to wince at this.
There are "660,755" restaurants in the US (according to Google), and average rent is $5,000/month = $3,303,775,000 (3 billion per month). Seems doable? Except .... did you forget about all the other places not paying rent? My guess is around 10 million of them. So "only" $60 billion or so per month. Is that affordable? Well, do you want to pay that in taxes?
Let's walk this forward some.
Restaurants provide jobs, probably 20ish jobs per restaurant. If every restaurant closed down, that's something like 12 million unemployed people who can no longer find employment at those restaurants.
Some of those employees might even make enough money to pay taxes and not get their tax money back.
What do you think the solution is, rather than just slamming someone's theory on what to do?
Re: Almost 90 percent of NYC bars and restaurants couldn’t pay August rent
#9Earlier quoted context omitted.
I don't want my tax money used to bail out landlords. Let the lenders foreclose. If the landlords didn't want to deal with loans then they should have paid cash for the properties.
I'm interested in my tax money being used to help stabilize the local population to minimize harm to them during this time and thereby minimize unrest and keep the whole of it safer. If my money is going to be going to making missiles and weapons for overseas, some of it can come back and pay for rough times instead.
A less drastic solution, which doesn't require much money, is to just force lenders to allow landlords who lost tenants or whose tenants can't pay to allow the landlord to defer loan payments (extending the final date of the loan).
It's not exactly fair to landlords who own the properties outright, but, I can live with that.
Re: Almost 90 percent of NYC bars and restaurants couldn’t pay August rent
#10Earlier quoted context omitted.
There are "660,755" restaurants in the US (according to Google), and average rent is $5,000/month = $3,303,775,000 (3 billion per month). Seems doable? Except .... did you forget about all the other places not paying rent? My guess is around 10 million of them. So "only" $60 billion or so per month. Is that affordable? Well, do you want to pay that in taxes?
Let's walk this forward some. Restaurants provide jobs, probably 20ish jobs per restaurant. If every restaurant closed down, that's something like 12 million unemployed people who can no longer find employment at those restaurants. Some of those employees might even make enough money to pay taxes and not get their tax money back. What do you think the solution is, rather than just slamming someone's theory on what to…
Mandatory rent holidays.