The Democrats pandering to their base?
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BSR REIT - sunbelt multifamily
https://web.tmxmoney.com/article.php?newsid=6676403039637442&qm_symbol=HOM.U
As of April 15, 2020, the REIT has collected 93.3% of total revenue for the month. Historically, by the 15th of the month the REIT has collected 97.0% of its total revenue. Total revenue includes rental income, fees associated with moving in or out such as application and cleaning fees, parking fees, rentersā liability insurance and utility charges.
To date, the REIT has received 100 requests from residents for a deferral of April rent payments. This represents approximately 1.1% of the apartment units in the portfolio and is not expected to materially impact the REITās financial performance. The REIT will continue to monitor the situation closely and provide a further update if it receives a material increase in rent deferral requests in the weeks ahead.
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I canāt stand Kelman. Why is he a media darling?
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At least she includes mortgage relief for landlords. Iām sure landlords would still be on the hook for other costs though. Itās just crazy to me that this is the response. The advice has always been 6 months of expenses in savings. People totally ignore that, and they get bailed out. Thatās only going to further encourage people to not save.
Weāre still acting like itās a huge crisis when unemployment plus the extra $600/wk will be more than a lot of laid off people were making. The issue is the gap between last paycheck and first benefit check. Once people are getting weekly benefit checks it will be fine.
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Desperate measures to claim relevance by those soon to become extinct.
Kelman and Omar( who married her brother)
Two of my least favorite people.
My tenants are mostly minimum wage they will do just fine. The smart ones are probably making money on the side selling pot.
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Markets where affordability was already stretched, like San Francisco, Los Angeles, San Diego and Seattle, are also at higher risk of price declines. In New York City, home prices had already been tanking, due to oversupply and changes to real estate tax laws that had benefited homeownership. Now the city is the epicenter of the nationās coronavirus crisis, and values have nowhere to go but down.
Good bye, @manch
The world will be more online and less brick and mortar interaction. More delivery, less in person shopping. More Peloton. Less going to gyms. More Uber Eats. Less dining in.
So the economy will tilt even further towards Silicon Valley. Digital trend accelerated by the pandemic. Money will flow even more to SV. House prices will reflect that sooner or later.
Seattle will be fine with AMZN at ATH and MSFT doing well. If anything, Seattle is becoming more powerful. The Seattle startup scene also seems more stable than SF in terms of layoffs.
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@manch is dreaming in broad daylight. SWEs donāt need to live so near to job center if the need to go to office is reduced, can tolerate longer commuting time. In some cases, can work remotely always.
Why pay 2-3x for someone here when you can hire for $100K in Iowa. Those are some massive cost savings.
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Rich always gets richer. Stop dreaming about flyover states catching up. Zoom is now worth more than a dozen or so airlines combined.
Significant time difference makes working together difficult.
Iām already hearing whispers from executives of different companies about hiring out of state. Itās happening whether you like it or not.
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So are you bullish or bearish on Bay Area real estate longer term? Letās say 5-20 years?