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(CNBC)   Nothing ominous here. Just 1/3rd of Americans didn't make their rent or mortgage payments for July   (cnbc.com) divider line
    More: Scary, Renting, Landlord, Money, Leasehold estate, Rental agreement, full housing payments, Payment, Real estate  
•       •       •

3962 clicks; posted to Politics » and Business » on 08 Jul 2020 at 1:37 PM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-07-08 1:17:46 PM  
That would be rent or mortgage, subby.
 
2020-07-08 1:32:26 PM  
Ho Lee Phook!
 
2020-07-08 1:40:36 PM  
So these claims are originating from Apartmentlist.com via a montly survery they do:

"Each nationally-representative monthly survey reaches over 4,000 Americans, and is distributed on the third day of the month. The surveys are administered through SurveyMonkey and the samples match the gender and age distributions of the United States as a whole"

Just FYI.
 
2020-07-08 1:52:03 PM  
They're making too much with stonks to be bothered with rent.
 
2020-07-08 1:52:23 PM  
Cancel rent man instead of canceling people's jobs come on you're up to the challenge cancel culture
 
2020-07-08 1:53:13 PM  
good thing the corona virus thing is over....oh wait.

in canada we all got $2000 every month. and free health care. america is a failed state because of your loser president.

thoughts and prayers.
 
2020-07-08 1:53:53 PM  

kid_icarus: So these claims are originating from Apartmentlist.com via a montly survery they do:

"Each nationally-representative monthly survey reaches over 4,000 Americans, and is distributed on the third day of the month. The surveys are administered through SurveyMonkey and the samples match the gender and age distributions of the United States as a whole"

Just FYI.


And their baseline figure is 10%.

Get back to me when they've got numbers from the FHA or Federal Reserve.
 
2020-07-08 1:54:06 PM  
It's still July.
 
2020-07-08 1:54:36 PM  
Anybody who calls up their mortgage servicer can get a COVID-19 forbearance, no questions asked, and without any documented need, if their loan insured by the government or owned by Fannie Mae or Freddie Mac.

Add onto that the fact that a July 1st mortgage payment doesn't begin to count as being delinquent until July 15th passes, and TFA is basically worthless.
 
2020-07-08 1:55:09 PM  
It's about time recreational property became affordable again.
 
2020-07-08 1:56:26 PM  

Farkhole: It's still July.


July rent/mortgage is due on the 1st and usually considered late by the 5th.
 
2020-07-08 1:56:45 PM  
Trump-this-is-their-new-hoax.jpg
 
2020-07-08 1:57:09 PM  
This is actually a great thing.  The more damage to the economy and American society, the more likely the United States will never recover economically or politically as a super power.
 
2020-07-08 1:57:32 PM  
Stonks!
 
2020-07-08 2:00:08 PM  

12349876: Farkhole: It's still July.

July rent/mortgage is due on the 1st and usually considered late by the 5th.


Not mortgages. Rent, yes.
 
2020-07-08 2:00:43 PM  

some_beer_drinker: good thing the corona virus thing is over....oh wait.

in canada we all got $2000 every month. and free health care. america is a failed state because of your loser president.

thoughts and prayers.


On the contrary, you will suffer from low self-esteem, knowing that you took the easy way out and that you did not earn your covidbucks, while Americans will live proud lives having invested their energy and effort in the real-life version of PlayerUnknown's Battlegrounds.

As you live a comfortable live defined by ample economic opportunity and a social safety net, the tears run down your face, knowing that you could have lost your job and been denied unemployment, leading to the cascade of economic events that leave one feeling weak and powerless.  You're pathetic.
 
2020-07-08 2:02:08 PM  

fragMasterFlash: It's about time recreational property became affordable again.


Chinese, Saudi's, Europeans need a clean summer home.
 
2020-07-08 2:03:35 PM  

BitwiseShift: They're making too much with stonks to be bothered with rent.


The economic impact is staggering.  Pick something obscure and it's probably affected.

Not as many people are out driving so they're using less gas...it also means not as many accidents and body shops are not seeing the revenue they used to.  Same goes for typical garage work like oil changes and new tires.

Not a lot of birthday parties so bakeries suffer.  Not a lot of any kind of party so party supply stores have taken a hit.

A lot of people are working remotely so clothing sales are down as well.   I heard Brooks Brothers filed for bankruptcy.

With so many events cancelled, including local bar bands, musical instrument stores are getting killed with the removal of their bread and butter business from working bands.  Covid will probably put the final nail in Guitar Center's coffin.

And on and on and on.

A few businesses are doing better than ever, like companies that make things out of plexiglas, but the vast majority are getting hurt and hurt bad.

But yeah, it's just the stock market that is affected <rolls eyes>
 
2020-07-08 2:03:35 PM  
No surprise, 1/3 of Americans have filed for unemployment in the past few months.
 
2020-07-08 2:03:51 PM  

AllCatsAreBeautiful: This is actually a great thing.  The more damage to the economy and American society, the more likely the United States will never recover economically or politically as a super power.


It's neither. It's a painful, and shameful and completely unavoidable if we weren't run by a slumlord and his crime family. Enabled by a rat fink turtle and his foreign owned wife.
 
2020-07-08 2:04:11 PM  

Mike_LowELL: On the contrary, you will suffer from low self-esteem, knowing that you took the easy way out and that you did not earn your covidbucks,


And Puritanism isn't mental illness how, again?
 
2020-07-08 2:05:11 PM  

some_beer_drinker: good thing the corona virus thing is over....oh wait.

in canada we all got $2000 every month. and free health care. america is a failed state because of your loser president.

thoughts and prayers.


What's the current exchange rate on Canadian thoughts and prayers?
 
2020-07-08 2:05:23 PM  

some_beer_drinker: in canada we all got $2000 every month


We did?
 
2020-07-08 2:05:57 PM  

12349876: Farkhole: It's still July.

July rent/mortgage is due on the 1st and usually considered late by the 5th.


My mortgage is due on the 1st, but not late until 15 days, so I always pay it on the 12th or before the 15th.  Chase mortgage
 
2020-07-08 2:06:56 PM  
And just who are they going to rent to? Someone just evicted from another place?
 
2020-07-08 2:08:07 PM  

Mike_LowELL: some_beer_drinker: good thing the corona virus thing is over....oh wait.

in canada we all got $2000 every month. and free health care. america is a failed state because of your loser president.

thoughts and prayers.

On the contrary, you will suffer from low self-esteem, knowing that you took the easy way out and that you did not earn your covidbucks, while Americans will live proud lives having invested their energy and effort in the real-life version of PlayerUnknown's Battlegrounds.

As you live a comfortable live defined by ample economic opportunity and a social safety net, the tears run down your face, knowing that you could have lost your job and been denied unemployment, leading to the cascade of economic events that leave one feeling weak and powerless.  You're pathetic.


Fark user imageView Full Size
 
2020-07-08 2:09:11 PM  

waxbeans: Cancel rent man instead of canceling people's jobs come on you're up to the challenge cancel culture


Cancel culture is an elite panic based in nothing. The fact that you are even bringing it up in a thread about the collapse of the American economy shows how farked up that whole narrative is. It almost feels like a purposeful attempt to distract people from the important things, although I think that is giving its proponents too much credit. They're just comfortable narcissists who have had their fee fees hurt online and don't give a shiat that normal people are being impoverished in mass.
 
2020-07-08 2:09:45 PM  

gar1013: Anybody who calls up their mortgage servicer can get a COVID-19 forbearance, no questions asked, and without any documented need, if their loan insured by the government or owned by Fannie Mae or Freddie Mac.

Add onto that the fact that a July 1st mortgage payment doesn't begin to count as being delinquent until July 15th passes, and TFA is basically worthless.


Anecdotal, I get paid every two weeks so I will jockey mortgage payments around if I can get the payment in by the 15th. Also being paid every two weeks means I have two "extra" paychecks per year and I can take them when the mortgage payment will shift forward before the 15th.

However, I am very worried about the loss of extended unemployment benefits at the end of the month. That's when the real forbearances are going to hit.
 
2020-07-08 2:10:19 PM  

some_beer_drinker: good thing the corona virus thing is over....oh wait.

in canada we all got $2000 every month. and free health care. america is a failed state because of your loser president.

thoughts and prayers.


Unemployment in the US is paying $600 a week.  Not sure how long a Canadian week is, but I'm pretty sure the exchange rate overcomes any shortage in that department.
 
2020-07-08 2:10:53 PM  

AllCatsAreBeautiful: This is actually a great thing.  The more damage to the economy and American society, the more likely the United States will never re-elect Trump.


You need to look at the positive side
 
2020-07-08 2:10:57 PM  

gar1013: Anybody who calls up their mortgage servicer can get a COVID-19 forbearance, no questions asked, and without any documented need, if their loan insured by the government or owned by Fannie Mae or Freddie Mac.

Add onto that the fact that a July 1st mortgage payment doesn't begin to count as being delinquent until July 15th passes, and TFA is basically worthless.


I'll add to this for anyone that needs the help - even if your mortgage isn't backed my Fannie/Freddie your bank may help. My mortgage isn't, but when I called and told them I had lost my job they put me on the same plan that anyone with a Fannie/Freddie backed plan would qualify for, without even being arrogant or condescending about it. Normally I'd say the bank that holds my mortgage is a vile bunch of scumbags, but at least this time they came through.
 
2020-07-08 2:13:23 PM  
GOP:  Homelessness is really a good thing.  It makes it easier to identify the people we don't actually give a shiat about.
 
2020-07-08 2:13:42 PM  
I made my mortgage payment this month...it was a macaroni necklace.
 
2020-07-08 2:14:14 PM  
I guess landlords and banks should have saved for a rainy day.
 
2020-07-08 2:15:42 PM  
If the government gave a fark, they would tell the banks to suspend all mortgages payments for the next 3-4 months or else they can say goodbye to their banking/trading license.
 
2020-07-08 2:17:00 PM  

barc0001: And Puritanism isn't mental illness how, again?


Guessing you've never played a videogame on the difficulty level where if you die in the game, you die in real-life.  There's a lot of dead men laughing at you right now.

tmyk: [Fark user image 633x356]


I'm always okay with being compared to the smartest member of that value meal that fights crime.  Frylock and Meatwad can't compete.
 
2020-07-08 2:17:47 PM  

some_beer_drinker: good thing the corona virus thing is over....oh wait.

in canada we all got $2000 every month. and free health care. america is a failed state because of your loser president.

thoughts and prayers.


Yep. We have the largest GDP in the world. We are a "first world country." Yet our leaders are willing to plunge us into a horrific depression, because those at the top, for the life of them, can't figure out how to make themselves, and all our billionaire mega corporations, farking share.

But here's thing tho, love. When America sneezes, the world catches a cold. This bullshiat were playing, with race riots and not wearing masks, is having a tremendous ripple effect on the world's economies too. We could help plunge the world into a worldwide depression. All because American white folks can't figure out how to share.
 
2020-07-08 2:20:22 PM  

Cataholic: some_beer_drinker: good thing the corona virus thing is over....oh wait.

in canada we all got $2000 every month. and free health care. america is a failed state because of your loser president.

thoughts and prayers.

Unemployment in the US is paying $600 a week.  Not sure how long a Canadian week is, but I'm pretty sure the exchange rate overcomes any shortage in that department.


The 2000$ a month was for people that were out of work due to Covid19 and were not eligable for Employment Insurance.
 
2020-07-08 2:20:38 PM  

some_beer_drinker: america is a failed state because of your loser president.


Donald Trump is just a symptom. The disease is how many Americans are willing to be homeless after paying for cancer therapy just because they don't want a black person to have affordable healthcare.
 
2020-07-08 2:21:29 PM  

Cataholic: some_beer_drinker: good thing the corona virus thing is over....oh wait.

in canada we all got $2000 every month. and free health care. america is a failed state because of your loser president.

thoughts and prayers.

Unemployment in the US is paying $600 a week.  Not sure how long a Canadian week is, but I'm pretty sure the exchange rate overcomes any shortage in that department.


US unemployment is tied to what you were making 6 (or 9, can't remember) months ago, it's not a flat rate. You sound like you made minimum wage
 
2020-07-08 2:22:01 PM  
I paid my rent

/And as usual, the only one who cared was my landlord
 
2020-07-08 2:22:21 PM  

kid_icarus: So these claims are originating from Apartmentlist.com via a montly survery they do:

"Each nationally-representative monthly survey reaches over 4,000 Americans, and is distributed on the third day of the month. The surveys are administered through SurveyMonkey and the samples match the gender and age distributions of the United States as a whole"

Just FYI.


Yep. And this same group put out the same survey last month with similar numbers. The discussion then was that it includes people who just haven't paid yet. Everyone gets until the 15th to pay their mortgage.

/ clickbait
 
2020-07-08 2:23:15 PM  
Good thing they shelved the whopping two bucks an hour "hero" pay, so the money can go where it belongs into the market to be disbursed to the truly worthy.
 
2020-07-08 2:24:10 PM  

chitownmike: Cataholic: some_beer_drinker: good thing the corona virus thing is over....oh wait.

in canada we all got $2000 every month. and free health care. america is a failed state because of your loser president.

thoughts and prayers.

Unemployment in the US is paying $600 a week.  Not sure how long a Canadian week is, but I'm pretty sure the exchange rate overcomes any shortage in that department.

US unemployment is tied to what you were making 6 (or 9, can't remember) months ago, it's not a flat rate. You sound like you made minimum wage


The $600/week was on top of your state's existing unemployment coverage (assuming you were able to get it with all the broken shiat around that).  You'd be a lot better off being unemployed from COVID in some states than others, to the point of making more from unemployment up to pretty high income levels.
 
2020-07-08 2:24:26 PM  

lolmao500: If the government gave a fark, they would tell the banks to suspend all mortgages payments for the next 3-4 months or else they can say goodbye to their banking/trading license.


You don't understand how this works, they are federally backed loans
 
2020-07-08 2:25:09 PM  
As a homeless veteran, I'm really getting a kick out of these replies.. ..

/Boxes that bagged potato chips come in are best for sleeping on.
//They're extra cushiony to absorb shock and keep the chips less damaged.
 
2020-07-08 2:26:03 PM  

gar1013: Anybody who calls up their mortgage servicer can get a COVID-19 forbearance, no questions asked, and without any documented need, if their loan insured by the government or owned by Fannie Mae or Freddie Mac.

Add onto that the fact that a July 1st mortgage payment doesn't begin to count as being delinquent until July 15th passes, and TFA is basically worthless.


What about the building owners?  Are they exempt from making mortgage payments?

What happens when they can't make payments due to lack of funds?  Not all of them are slumlords.

If the building owner loses their building to the bank, will the bank try to run it or sell it off at a loss (not many people want to buy commercial real estate with a bunch of tenants not paying rent)?

So yes, the tenants are OK for now, but this will have a terrible ripple effect throughout the economy.
 
2020-07-08 2:26:03 PM  
My mortgage payment is due on the 1st but not considered "late" until the 15th or so.

Meanwhile the loan handler is spamming me with opportunities to pay them more money in the long run for a soupçon of relief now.
 
2020-07-08 2:27:17 PM  

BlackChickWhiteAccent: some_beer_drinker: good thing the corona virus thing is over....oh wait.

in canada we all got $2000 every month. and free health care. america is a failed state because of your loser president.

thoughts and prayers.

Yep. We have the largest GDP in the world. We are a "first world country." Yet our leaders are willing to plunge us into a horrific depression, because those at the top, for the life of them, can't figure out how to make themselves, and all our billionaire mega corporations, farking share.

But here's thing tho, love. When America sneezes, the world catches a cold. This bullshiat were playing, with race riots and not wearing masks, is having a tremendous ripple effect on the world's economies too. We could help plunge the world into a worldwide depression. All because American white folks can't figure out how to share.


Fark user imageView Full Size

Nail on the head as always, good to see ya.
 
2020-07-08 2:27:49 PM  

chitownmike: lolmao500: If the government gave a fark, they would tell the banks to suspend all mortgages payments for the next 3-4 months or else they can say goodbye to their banking/trading license.

You don't understand how this works, they are federally backed loans


So what. Federally backed loans are worthless since the federal gov is Trump and we know he never pays anything
 
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