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

#101

Post by ceejayoz » Wed, Jun 03, 2020, 10:49 PM UTC

mikem170 wrote: post #80

aphextron wrote: post #36

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.

> 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.

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

#102

Post by dmarlow » Wed, Jun 03, 2020, 10:49 PM UTC

cr__ wrote: post #73

dmarlow wrote: post #68

Earlier quoted context omitted.

> 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…

Do you have any evidence that they did this because the government assisted them with their housing payments?

No, but the point was to ensure people pay what they're expected to pay. Not to give them a handout.

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

#103

Post by [deleted] » Wed, Jun 03, 2020, 10:49 PM UTC

dmarlow wrote: post #68

ngngngng wrote: post #47

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…

> 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…

[deleted]

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

#104

Post by itake » Wed, Jun 03, 2020, 10:50 PM UTC

cr__ wrote: post #73

dmarlow wrote: post #68

Earlier quoted context omitted.

> 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…

Do you have any evidence that they did this because the government assisted them with their housing payments?

If you read OP, he chose not to renew their lease and this caused them to do damage. I think the suggestion here is if a landlord chooses not to renew the lease of qualified tenants, the tenants will voluntarily leave.

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

#105

Post by ipython » Wed, Jun 03, 2020, 10:51 PM UTC

ngngngng wrote: post #47

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…

Bless you for taking a chance on the less fortunate. It sounds like you treat your tenants like people and they in turn repay you in something way more valuable than money: their time and kindness.

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

#106

Post by daenz » Wed, Jun 03, 2020, 10:51 PM UTC

chrisco255 wrote: post #77

aphextron wrote: post #36

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…

Remember the whole point of shutdowns was to "flatten the curve" to keep the hospitals from being overrun. We can't stop the disease and we can't commit economic suicide. NC has only seen a slight uptick in hospitalizations: https://covid19.ncdhhs.gov/dashboard and it's been flat for the past week.

"flatten the curve" changed once people realized they can use the shutdown as a means to political ends.

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

#107

Post by londons_explore » Wed, Jun 03, 2020, 10:51 PM UTC

beervirus wrote: post #56

I have a commercial tenant who was forced to shut down their business during the lockdown. I just waived rent until they were allowed to reopen. You can't get blood from a turnip, and I really don't want to force them into default and try to find another tenant in this environment anyway. Almost everybody is taking a haircut this year.

Isn't the smarter move to defer payment of the rent for a few years?

One day, they'll be able to pay, and then you'll get paid.

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

#108

Post by ohyeshedid » Wed, Jun 03, 2020, 10:51 PM UTC

dmarlow wrote: post #102

cr__ wrote: post #73

Earlier quoted context omitted.

Do you have any evidence that they did this because the government assisted them with their housing payments?

No, but the point was to ensure people pay what they're expected to pay. Not to give them a handout.

That's on OP to decide for themselves, though, not you.

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

#109

Post by theduder99 » Wed, Jun 03, 2020, 10:52 PM UTC

viklove wrote: post #54

MattGaiser wrote: post #37

Earlier quoted context omitted.

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.

You're looking in the wrong place. QE doesn't go to families, so it doesn't increase the cost of milk, apples, or eggs. It went to the wealthiest banks and corporations, and wouldya look at that -- asset prices are inflated, "startups" have absurd valuations, and the wealth gap is larger than ever before. The inflation is there, clear as day. You're just not looking in the right place and you think you're so smart be…

yep, also plenty of inflation to see at the grocery store. the 'family size' of cereal is actually the 'baby' size of a few years ago. that's how they can maintain the same price over time.

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

#110

Post by olivermarks » Wed, Jun 03, 2020, 10:52 PM UTC

tyre wrote: post #90

dmarlow wrote: post #68

Earlier quoted context omitted.

> 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…

> 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...