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re: Map of renters facing eviction by state

Posted on 7/29/20 at 11:38 pm to
Posted by stout
Porte du Lafitte
Member since Sep 2006
184770 posts
Posted on 7/29/20 at 11:38 pm to
quote:

Recreational boat and RV sales are through the roof



Well, I hope people can live in the boat or stay full time in their RVs. They may have no choice since they chose that over housing.
Posted by nugget
Abrego Garcia Fan
Member since Dec 2009
15757 posts
Posted on 7/29/20 at 11:39 pm to
From what I understood, it was a worst case scenario. I’m wondering how all those hotels on Prien are going to do. I also heard there could be an issue with one or two being foreclosed on and driving the price down on the rest, which would make the owners upside down.

That’s well out of my league of investing, but sounds that it could be trouble.
Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
99877 posts
Posted on 7/29/20 at 11:39 pm to
Wonder what the eviction process is like in HI for renters

Foreclosure takes years and sometimes never happens
Posted by LSUJML
Central
Member since May 2008
56855 posts
Posted on 7/29/20 at 11:41 pm to
quote:

It's probably very different on commercial properties so no telling what sort of fees the bank will hit them with. The banks are still paying on the money they borrowed to loan out while the mortgage is in forbearance so no doubt they will nail the hotels with a ton of fees.


I can’t find it now but the replies to one of JBE’s tweets was pushing to cancel rent
When asked what about the property owners the reply was to cancel mortgages, the feds bail banks out all the time
Posted by stout
Porte du Lafitte
Member since Sep 2006
184770 posts
Posted on 7/29/20 at 11:41 pm to
There's a hotel on Prien going to auction in a few weeks for a $4 million default but it's not the new ones by the casino. It's the Comfort Inn over by McDonald's.
Posted by nugget
Abrego Garcia Fan
Member since Dec 2009
15757 posts
Posted on 7/29/20 at 11:43 pm to
quote:

There's a hotel on Prien going to auction in a few weeks for a $4 million default but it's not the new ones by the casino. It's the Comfort Inn over by McDonald's.


Yea, that’s gonna be a no for me dog
Posted by stout
Porte du Lafitte
Member since Sep 2006
184770 posts
Posted on 7/29/20 at 11:44 pm to
quote:

Wonder what the eviction process is like in HI for renters

Foreclosure takes years and sometimes never happens



I cover 16 states for my clients. There are states that have been offered to me that I refuse. Cali and HI because of their stringent laws for example. I already run the risk of being dragged into a lawsuit daily doing what we do so there's no need to add to that risk.
Posted by Privateer 2007
Member since Jan 2020
7951 posts
Posted on 7/29/20 at 11:45 pm to
The federal government made unemployment 50k or more in most states. Louisiana was like 45 k.

These people just spent money on bullshite.

Zero sympathy.
Posted by stout
Porte du Lafitte
Member since Sep 2006
184770 posts
Posted on 7/29/20 at 11:45 pm to
quote:

When asked what about the property owners the reply was to cancel mortgages, the feds bail banks out all the time



Yea people don't grasp that this is how you become Venezuela or reach a point of printing billion-dollar bills that are worth .65 cents American like Zimbabwe.
Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
99877 posts
Posted on 7/29/20 at 11:46 pm to
I had a client who was a local brah who hadn't paid his mortgage in 6yrs in HI but was airbnb the bottom out for like 5-7k a mnth just stacking


Posted by stout
Porte du Lafitte
Member since Sep 2006
184770 posts
Posted on 7/29/20 at 11:47 pm to
quote:

Yea, that’s gonna be a no for me dog



Wanna go in half?




Posted by Pelican fan99
Lafayette, Louisiana
Member since Jun 2013
39663 posts
Posted on 7/29/20 at 11:54 pm to
50% of renters in Louisiana can’t pay rent? Yeah I’m gonna go with not true. What kind of liberal bs is that
Posted by Odysseus32
Member since Dec 2009
10233 posts
Posted on 7/29/20 at 11:54 pm to
Man, I don't get it.

There are ways to make money. Shitty ways, but ways nonetheless. And if I'm in a small town that's desolate, I'm gonna pack my shite and move elsewhere to find work.
Posted by stout
Porte du Lafitte
Member since Sep 2006
184770 posts
Posted on 7/29/20 at 11:55 pm to
quote:

There are ways to make money. Shitty ways, but ways nonetheless.


HJs in the bar bathroom?
Posted by Blizzard of Chizz
Member since Apr 2012
21638 posts
Posted on 7/30/20 at 12:26 am to
This was foreseeable months ago. They put millions of people out of work to “save lives” but they created an even bigger crisis in doing so. Now we have a potential homeless crisis because all these people out of work can’t pay their rent. When you can’t pay the rent you get evicted. So was saving lives really worth creating a giant homelessness crisis?
Posted by stout
Porte du Lafitte
Member since Sep 2006
184770 posts
Posted on 7/30/20 at 12:29 am to
Ehh...they gave people a way to pay rent through unprecedented Federal unemployment. Many chose not to thinking they would get another bailout to cover their housing.

I know that isn't the case for all but it's the case for more than you think.
Posted by Grateful Reb
Member since Apr 2011
8070 posts
Posted on 7/30/20 at 12:31 am to
quote:

But TVs, cars, jet skis, etc are all breaking sales records.


Link?
Posted by Jim Rockford
Member since May 2011
106161 posts
Posted on 7/30/20 at 12:59 am to
I've read that on average about a third of renters are in arrears at any given time. So this is worse but not by orders of magnitude.
Posted by kywildcatfanone
Wildcat Country!
Member since Oct 2012
141297 posts
Posted on 7/30/20 at 6:19 am to
quote:

But TVs, cars, jet skis, etc are all breaking sales records. Seems like people used their stimulus and unemployment on toys expecting to be further bailed out on their housing situation


This is what I have a hard time understanding. I'm sure the economy is bad for many, but restaurants and stores are packed every day, and electronics are out stock everywhere.
Posted by Tchefuncte Tiger
Bat'n Rudge
Member since Oct 2004
64086 posts
Posted on 7/30/20 at 6:24 am to
quote:

But TVs, cars, jet skis, etc are all breaking sales records. Seems like people used their stimulus and unemployment on toys expecting to be further bailed out on their housing situation.



Boat dealerships are selling out of stock.
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