ECON Update Mass Evictions on Schedule

Housecarl

On TB every waking moment
This is all interesting, makes one wonder though, if the CDC can simply dictate by edict that no more foreclosures for awhile because of health reasons......why not make the minimum wage $20 an hour by edict for 'health reasons'.

Fancy trickery here....
With the dollar devaluation since 2000, never mind the last six months, depending upon the region, the "minimum wage" on the ground is rapidly approaching $ 20/hour. An example being in Si Valley, I have seen McDs advertising 18/hr no experience.
 
With the dollar devaluation since 2000, never mind the last six months, depending upon the region, the "minimum wage" on the ground is rapidly approaching $ 20/hour. An example being in Si Valley, I have seen McDs advertising 18/hr no experience.
And to think... I was just being snarky.
 

MinnesotaSmith

Has No Life - Lives on TB
With the dollar devaluation since 2000, never mind the last six months, depending upon the region, the "minimum wage" on the ground is rapidly approaching $ 20/hour. An example being in Si Valley, I have seen McDs advertising 18/hr no experience.
Nowhere NEAR that in NW FL.
 

Panner

Veteran Member
Better watch out renting to people on sec. 8. I have known people that did and the renter stopped paying their share. and also utilities. The utility companies came after the home owner for payment, and they couldn't evict the renter because they were on sec.8. Guess who loses? The home owner.
 

diamonds

Administrator
_______________
It's always been that way. Tuff times can come out of nowhere even if you had been doing the right things and you can get nailed by the times.

It's a recession when your neighbor loses their job and a depression when you do.

I've had relatives move in with us because of recessions and job loss. If you are a family tribe, you help each other out, even if you must cut your losses and move across the country to family.

I've got friends with rental property who have renters that just quit paying their rent because they could. They took the extra unemployment and other benefits but didn't stop going out to eat, buying things they didn't need and decided that somehow the government would bail them out.

It is the same with people who are deep in debt because they borrowed a fortune to get a degree that would never pay a decent income or that have actual job demands for their skills, then demand that government pay their debt.

I’ve lived on beans and rice because I had to. I lived in a small room in a basement, because I had to. I drove junk cars because I had to. I worked nasty, part time jobs because I had to. I never expected the government to bail me out.
Very true.. Extra money from the high unemployment payments and still not paying rent.. No morals or common sense..:dhr:
 

Trivium Pursuit

Veteran Member
Three observations:

For every person I know that was stupid, I know people who were whacked by medical or other bills they simply couldn't pay or barely pay, they have no savings; not because they bought a fancy TV but because they ended up in the hospital or with a medical condition requiring medications.

On the "who will rent after all the evictions" question, I saw this in both Colorado and more recently in Ireland - it is simply multinational - "vulture funds" buy them up and either sit on them or rent them out at inflated prices to those with money - there are always some people.

Ireland really has a problem with this, because while about 15 years ago I remember a silly statement about "Ireland will just have join the other 'good Europeans' and 'rent like everybody else," Ireland now has a massive problem.

The problem: Their entire retirement system, especially the small Old Age Pension that anyone over a certain age can get if they are in danger of poverty (but also the private pension plans) is based on the majority of people owning a home.

There is no money for rent, so the Old Age pension will either have to be tripled or more in some markets, and/or massive amounts of public housing will have to be built or bought back at full price from the vulture funds.

As it is, Ireland, where for historical reasons having a roof over your head is pretty much a human right (after the famine when people were thrown into the streets to starve, off the land they had farmed for hundreds of years); there is already a severe housing shortage.

And since any resident (especially citizens) can go to a police station and sleep (especially those with kids) and pictures of Mom's with six kids on plastic chairs are not good "press" and the police are saying they can't do their jobs if this continues - well, it looks like stage one is taxpayer money used to re-buy the rental houses from the vulture funds and banks the tax-payers bailed out in 2010.

Something similar is likely to happen in the US, and I can predict that if there are massive evictions in Winter in the USA then the migration will make the "migration" from Oklahoma and Arkansas to the West Coast in the 1930s Dustbowl look pretty small in comparison.

People will flee South and West, in huge numbers in cars, buses, trains, and even on bikes or on foot. Suddenly homeless working class, middle class and even really poor people may be destitute but not always stupid.
I have been wondering how this will play out, and your vulture funds scenario is the most credible scenario I've heard.
 

mistaken1

Veteran Member
IF you overextend yourself and have a second or third mortgage you have rocks for brains.

There are too many people in this country who think they can spend, spend, spend without good money management and budgeting and it won’t have consequences when something like the shutdowns come out of the blue. The Mc Mansion people come to mind as well. If you are living paycheck to paycheck and just getting buy before they hit, you’ll sink when they come.

It's one thing to be frugal and a good money manager who gets blindsided by the unexpected medical or a divorce issues compared to someone living that far over their ability to pay. Bad choices are supposed to have consequences and hurt so that the individual can learn from it. It sucks to go through them, but it is a chance to learn.
The too big to fail banks and corporations got bailed out and their feckless leaders rewarded with bonuses, why shouldn't the little guy get the same deal?

Banksters: bail us out or we crash the economy.
Little guys: bail us out or we burn it all down.
 

Bps1691

Veteran Member
The too big to fail banks and corporations got bailed out and their feckless leaders rewarded with bonuses, why shouldn't the little guy get the same deal?

Banksters: bail us out or we crash the economy.
Little guys: bail us out or we burn it all down.
The too big to fail and connected ALWAYS get bailed out--- it's the history of man!

… and as far as “Little guys: bail us out or we burn it all down”

Why do you think we’ve had 50+ years of ghetto trash (white and black) created by the very “programs” the connected and elites created of welfare, public housing - all built on a corrupt educational system - that indoctrinates them in the “it’s not fair and not my fault” group think?

Oh, they let them burn, beat, kill and steal --- as long as they stay in the “cages” that the elites built for them. But boy howdy, let them move into the “out of bounds, elite controlled areas” and start throwing their “poo”, the elites troops come down on them with the biggest hammer they could.

Most of our forefathers came here to get away from this system of government in Europe to get a new start where their efforts primary benefited them. Where there was freedom because they could get separation from the elites. Our revolution was fought because those elites were in the process of re-enforcing their will and corrupt system on those who had experienced freedom.

Well guess what, we are there at that same spot again.

Anyone who expects our corrupted system of unequal justice and where it matters more who you are connected with than what is the truth and equal, is a fool.

The only thing that is truly stopping the elites from using their “troops” and unequal justice to finish the job and enslaves us again, is their fear of the God Given Right to own the tools for our own defense.
 

Melodi

Disaster Cat
Most of Appalachia and The Mountains are white and there are huge sections where people are now on welfare or other programs because the coal companies are gone, and destroyed the area to boot.

This isn't just about black urban dwellers, soon it will probably also affect large sections of the suburbs, the rural poor, and a lot of formerly working and middle-class people.

Some of whom made stupid choices, many others simply ended up unemployed through no choices of their own for too long and the savings ran out.

Very much the same picture as the Great Depression of the 1930s, this time with the internet...
 

Border Collie Dad

Veteran Member
Better watch out renting to people on sec. 8. I have known people that did and the renter stopped paying their share. and also utilities. The utility companies came after the home owner for payment, and they couldn't evict the renter because they were on sec.8. Guess who loses? The home owner.
Thanks for the advice, Panner.
At one time, I had 29 units and a percentage were Section 8.
I had decent luck with them.
There are some protections for the landlord now.
If they damage they have to reimburse or lose their subsidy.
That's a big incentive.

As long as Hud is paying the bulk of the rent, it's no big deal if they don't pay me $50.
I'm keeping the utilities in my name.
 

Bps1691

Veteran Member
You are so old fashioned.......lol
I'm a survivor friend and come from a family tribe with a very long history of not just surviving but of pushing the following generation up at least one step on the ladder of life.

My tribe’s history is of moving to where the jobs are. Of getting the training and skill to keep oneself able to be employed. To be frugal and self-reliant. To put in the hard labors to ensure your survival instead of taking the easy road.

I’ve re-invented myself more times than I can count, by my own efforts to learn the skills that would let me earn a good living. I’ve been in IT since I graduate college in 70 (paid for 100% by working more than 40 hours a week at part time shit jobs).

I’ve re-educated myself as the trade changed and new skills were in demand out of my own efforts and pocket, earning two additional degrees and more certifications than you can shake a stick at.

I spent seven years as a traveling consultant going all over the country and in a few cases overseas to fund my family and my children’s college education.

I’ve ran and sold a successful consultancy and after 50+ years at it, am still employed and paid well working in advanced technology projects. My customer references are impecable, and I am still re-educating myself and preparing for what's next.

We’ve lived free and clear of debt for years and lived well under our means because history has taught my tribe and me that shit can hit your personal fan out of the blue. All of my children are grown and follow these same tribal patterns and hold themselves ready and able to meet the challenges they will see in their lifes.

Yep, I’m old fashioned and following the “patterns of success” that has served my family tribe for over 100 years. I hope someday you’ll be able to say the same.
 

Bps1691

Veteran Member
Rent in my area is twice the amount of what my mortgage payment is.

I HATE being a homeowner but I couldn't afford to rent.
Understandable and based upon this I would guess you used the same good sense and bought a home you can comforably aford and are following a solid plan (like Dave Ramsey) to reduce your risk and to pay it off asap.

Bean's and rice with good spice is nice even if it get's a little boring at times.
 

20Gauge

Has No Life - Lives on TB
I'm a survivor friend and come from a family tribe with a very long history of not just surviving but of pushing the following generation up at least one step on the ladder of life.

My tribe’s history is of moving to where the jobs are. Of getting the training and skill to keep oneself able to be employed. To be frugal and self-reliant. To put in the hard labors to ensure your survival instead of taking the easy road.

I’ve re-invented myself more times than I can count, by my own efforts to learn the skills that would let me earn a good living. I’ve been in IT since I graduate college in 70 (paid for 100% by working more than 40 hours a week at part time shit jobs).

I’ve re-educated myself as the trade changed and new skills were in demand out of my own efforts and pocket, earning two additional degrees and more certifications than you can shake a stick at.

I spent seven years as a traveling consultant going all over the country and in a few cases overseas to fund my family and my children’s college education.

I’ve ran and sold a successful consultancy and after 50+ years at it, am still employed and paid well working in advanced technology projects. My customer references are impecable, and I am still re-educating myself and preparing for what's next.

We’ve lived free and clear of debt for years and lived well under our means because history has taught my tribe and me that shit can hit your personal fan out of the blue. All of my children are grown and follow these same tribal patterns and hold themselves ready and able to meet the challenges they will see in their lifes.

Yep, I’m old fashioned and following the “patterns of success” that has served my family tribe for over 100 years. I hope someday you’ll be able to say the same.
It was a compliment! LOL
 

Blacknarwhal

President-Elect
millions of people have received free housing for 1, 2, 3, 6 months . . .

and now "it isn't fair" that they get evicted or foreclosed

they were saved from death by corona
and yet they want more
Considering the "more" they want is "not to die of exposure when they're homeless" it's not too far out of line.

What point in being saved from a corona death to die immediately thereafter?
 

20Gauge

Has No Life - Lives on TB
Rent in my area is twice the amount of what my mortgage payment is.

I HATE being a homeowner but I couldn't afford to rent.
That is again becoming the norm every where it seems. Rents are rising far faster than mortgage costs. We are now seeing $1000 per month rents on places that would rent for half that 6 months ago. Also prices of housing is increasing but not at the rate rents are. I have a friend who is being kicked out and has to find a new place. (owner is moving back after selling old home for about $1 million... good for him by the way). He realized that he can only afford to buy and not rent.

Strange times.

Me I would buy some vacant land and begin the process that way.... wait I did that once.....
 

raven

Has No Life - Lives on TB
Considering the "more" they want is "not to die of exposure when they're homeless" it's not too far out of line.

What point in being saved from a corona death to die immediately thereafter?
oh yea, they received $1200 . . . per person tax free. and then they got and extra $600 per week unemployment. And then they did not have to pay rent. for 3 months. Lets see thats $1200 + ($2400X3) + ($1000x3) what is that $8000.
I got $1200 paid my rent and could not collect unemployment because I don't work.

I think it is totally out of line
 

magnetic1

Veteran Member
I know here in my little town there are so many that are way, way behind on their water bills that they can't catch up. And there is a moratorium on electric shut offs til April........ now factor in rent/mortgage/tax bills and it is bad. I am lucky I am where I am but think I am going to list my house and take the money and go rent a dump for a bit and just lay low til things shake out
 
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