As the economic fallout from the coronavirus pandemic continues, almost one-third of U.S. households, 32%, have not made their full housing payments for July yet, according to a survey by Apartment List, an online rental platform.
About 19% of Americans made no housing payment at all during the first week of the month, and 13% paid only a portion of their rent or mortgage.
That’s the fourth month in a row that a “historically high” number of households were unable to pay their housing bill on time and in full, up from 30% in June and 31% in May. Renters, low-income and younger households were most likely to miss their payments, Apartment List found.
In NYC 80% of restaurants couldn't pay their June rent. I said this was going to happen at the start of all of this. That same thing will spread to every major city.
Wait until major credit defaults come in the next 3-4 months
Who's going to win the big short this time I wonder
Foreign (China) actors buying up American property
China is getting biblically fucked right now. Massive flooding, locust swarms, swine flu, avian flu, Covid, earthquakes, looming food shortages, failing economy, and angry world powers in every direction.
isn't the black plague hitting there too?
the fucking cherry on top lmao
at this point i wouldnt be surprised to see chinese people turning into literal pillars of salt as opposed to just chinese agents in america being figurative pillars of salt
yup, that too. But between antibiotics bug spray, you are pretty safe.
Don’t forget and king gold just got caught with all that fake gold lol
Yup, no telling how much of the entire gold reserves of China is fake.
probably the same people who escaped justice last time
short COF
every major DEM CONTROLLED city.
But hey, at least we flattened that curve, right guys? I mean, it is a dangerous virus that the majority of people recover from, except financially, I guess
Ya, flattened. Just like ma'am's chest.
We've been saying this shit for years, The Democrats and the Deep State would rather burn this country to the ground and rule its ashes. American Prosperity is the last pillar to fall before their World Order can be set in motion.
The defenses will hold.
-Trump at Helms Deep 2020
Let's hope they last the night!
Theres always a window of opportunity. Between the fall and rebuilding, that is their weak point. Dont let it pass by when it happens.
Here is one thing to consider, Americans live on debt. Everything is bought on loans. Property and assets bought using loans is not prosperity.
Yep, and Governor Abbott is talking about doing just that! He's selling out to the deep state. I pulled a Bill Barr and wrote a scathing but professional letter to his office yesterday expressing my concern as a Collin County, TX resident. I implore all Texans to do the same!
Can I have a copy?
Barr is that you?
Unfortunately, when I submitted my letter, it just prompted me with this auto reply that an appropriate staffer will review the letter. I just primarily called out the changing of how we are coding Covid cases with the introduction of probable case definition pursuant to the DHS in the Collin County Comissioners Court on May 18th. How field tests aren't reliable and hospitalizations are almost 1:1 per Covid case in many counties. I think length of stay is way down and it is ridiculous to hospitalize every Covid case even probable
Also, the face mask requirment is entirely subjective and policy making to this extreme should not be backed by inconclusive evidence. I just really stressed how these measures are overly burdensome on our constitutional rights. Don't rely on fear mongering yellow journalism to make policy decisions.
Texas Gov https://imgur.com/a/8M58h57
this made me laugh.
Why don’t they break it down by states and cities?
I guarantee most of these delinquencies are in blue states like NY, NJ and California where the dem tyrants in charge have their authoritarian jackboots stomping on the heads of their citizens and small business owners.
Agree.
Yeah because the way the rules were written....basically "no documentation" is required. You simply can request your bank to suspend the mortgage payment and they are required by law to comply.
It is because of this and so many other stimulus programs that so many fucktards are protesting about everything in the streets.
We need to all fight to end these stimulus programs!
Also, how does it compare to historical data?
Something is not adding up. According to NHMC.org (https://www.nmhc.org/research-insight/nmhc-rent-payment-tracker/) in 2019 missed July payments were 20.1%. In 2020 missed July payments are 22.6%.
But, I will say that people who are missing payments because of the China Flu have no reason to be missing payments because of a lost job if they were making <$20/hr in any state. In some states it could be as high as $30/hr and have no reason to be missing payments because of a lost job.
Why do you ask?
Assume they lost their Job 4-1
$1,200 Stimulus Check
The LOWEST weekly unemployment benefit is Mississippi at $235/week + $600 Federal Unemployment = $835 week or $20.87/hr (Assuming 40 hours a week).
So since April 1st an individual that lost their job as received at a MINIMUM $10,020 and if they got the stimulus (not all people filed taxes in 2018 or 2019) they have received $11,220 over 12 weeks.
Lets take NY for example - The Unemployment benefit is $504/week + $600 federal = $1,104 a week or $27.60/hr (assuming 40 hrs a week).
Someone in NY has received $13,248 since 4/1 and possibly $14,448 with the stimulus.
Just to put this in perspective if the unemployment benefits represented their full annual earnings they would be making $57,408 a year in NY and $43,420 in Mississippi.
The MEDIAN household income in the US in 2019 per the US Census is $63,179. https://www.census.gov/data/tables/2019/demo/income-poverty/p60-266.html
The unemployment were so overloaded when it first hit that many didn't get into it until a couple months in. If they weren't getting anything from the PPP through their employers working from home it started to snowball and then it ran out of funds twice if I'm remembering correctly.
Even if it took time to process someones claim they were paid the full back pay due from unemployment
They just want to start forcing us to pay for everyone’s housing like we do with food and EBT
the Dem orchestrated plan to destroy the economy to try and force a Trump loss in November continues apace. And is working.
Note the new furor over schools opening, that is just another element of this plan. Working parents rely on school to supervise their kids, especially lower and middle income families, who usually have all parents in the home working.
If the schools stay closed, these parents cant go to work. Many of them cannot afford day cares.
Exactly, it's a cascade effect
I deferred until december. My wife lost her job.
Why would I pay rent or mortgage when I'm legally not forced to without penalty?
It's basically a 0% loan for the next year on your mortgage - you'd be an idiot to not take it.
If I can skip rent payments for a few months and then spread it out over the next year or two, that's money in my pocket.
How many would have missed anyway? How many would have missed their rent. Restaurants and bars fail frequently. COVID did impact all this, but consider it an add on to the norm which makes it less scary. Yes, though, we need to get back to business.
I dont understand this. Im pretty damn low on the totem pole as far as making money goes. Like Im the part thats stuck into the ground. And I havent come close to missing my rent payment.
Dude, most Americans are shit heads that live pay check to our check. Doesn’t matter if they make 200k a year or 25k, they spend it all like the worthless fucks they are
I only spend money on bills, food, guns, ammo, and a little on guitar stuff lol.
This shutdown has to end, I had to stop working because my work took a huge dive and I had to school and take care of my children, my car was repoed. I'm down to my last $20. I live in a rural area and there is only 2 places within walking distance from my home one place you have to be hired thru a staffing agency which isn't hiring and a nursing home I was finally able to apply for as a fuckin line cook when I work in construction usually. I'm so stressed out and anxious meeting the end of this life seems like a sweet release
That's right 👊 I just gotta stay the course and eventually I'll find my way back to normal. MAGA on
All I can say is thank God for Dave Ramsey. I spent a decade working through the baby steps in his program to get everything paid off. Now I'm debt free including house, over a year emergency fund in place, and just looking at buying a new lake house from one of these distressed sellers.
The primary article is conflating rent with mortgage payments. Wonder what percentage are rent payments. What percentage of the totals are in democrat controlled areas. The single family residential real estate market where I live is surprisingly booming. I guess it just depends on where you live.
Its still july. Most payments aren't due until the 15th. This is demoralizing propaganda.
I'm have a hard fucking time finding parts for work. The hardware stores are looking like groceries stores did. Hand rails, dryer heating elements, fucking 10 day shipping waits.
This martial law was intentional, not for safety.
If the get evicted the should move to California right out front of Nancy Pelosi Big house and all scream for ice cream
Whatever happened to having six months of emergency savings??
I got mine pede
Well done oede
That...is absolute insanity
Yes, that was me on there that called you a dick. I stand by my statement
Lol my poor feelings fren. You ouched them
Yikes lol. I don't know if he needed to be deleted (I didn't go through his post history). But thanks for the upvote; as good as a mother's kiss on a skinned knee
Well, that escalated quickly.