Quote:
Originally Posted by Nirgon
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Glad this joke is almost over
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Not if the Chicken Little's have their way.
We haven't even seen the havoc this is going to cause the housing and commercial real estate industries yet. Gonna be a ton of defaults next month when the triple payments are due; as well as the large volume of eviction proceedings that will begin since a large number of renters entered into rent deferment programs (which aren't forgivable in a bankruptcy, btw) that they have no intention of repaying.
Most of the major residential and commercial REITs are down 50 to 75% in anticipation of their incoming insolvency, and subsequent bankruptcies.
On the bright side, perhaps this will instigate a domino effect with reputable lenders walking away from loans underwater when their equity drops, thereby creating an opportunity for entry for people looking to become first-time homeowners; no homo.
Lets have a moment of silence for the speculative "landlord", it will be so sad to hear them regale us with tales of losing their 6th income property in the great depression of 2020/2021
05-15-2020, 12:15 AM
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