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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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17997553 No.17997553 [Reply] [Original]

>renters get laid off and can't pay rent
>property owners run to the bank to ask for mortgage payment deferrals
>banks tell them to get fucked
>property owners lose jobs
>wave of defaults
strap in, lads

>> No.17997581
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17997581

>>17997553

>> No.17997608

>>17997553
Good hope those faggots default. Clean that shit out of the system. Leveraged boomer RE speculators are the cancer that is killing America. they should be buying bonds instead of driving up home prices.

>> No.17997613
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17997613

>>17997581
Remember when the boomers said real estate can only go up?
Remember when the boomers said buy now or get priced out forever?
Remember when the boomers said paying rent = paying someone's mortgage and therefore = BAD?
I sure do.

>> No.17997741

Real estate market has long needed a deep cleansing. Let’s hit restart boys

>> No.17997759

>>17997553
Aahhhhhh my lease is up at the end of summer and I've been saving for a down payment on a mortgage.
If I buy a house now I don't want the value to plummet! But I don't want to wait another year or two.

>> No.17997791

>>17997759
a house is a long term thing, this corona thing wont be remembered in 10 years. if youre living in it value isnt of importance anyway, for now at least

>> No.17997808
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17997808

>>17997553
Anyone having groups like pic related crop up in their cities yet? Movements get started and get moving quickly... strap in

>> No.17997838

>>17997759

Just keep in mind if you lose your job how long can you pay the mortgage for before being foreclosed on? My senses tell me a new economic system is on the way regardless.

>> No.17997879

>Taking in tenets that don't have a stable job
lmao only have themselves to blame.

>> No.17997927
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17997927

>>17997808
You see things like these and you think it's a child's play. But then you start adding up numbers. 1240 members. Let's say the average value of a loan on a place they're renting is $300k. 1240*300,000=372,000,000. Ok so that's roughly $350 million worth of loans that are about to implode. Then you remember that these loans are used as leverage in all sorts of fucky derivatives with a ratio of 50 to 70x. Let's go conservative and assume a prudent and safe ratio of 30x. That's $11 BILLION worth of derivatives that will get margin called. And that's not even a tip of the iceberg, that's like a small snowflake on top of the iceberg.

>> No.17998029

>>17997838
Well yeah I'm keeping that in mind.
Not that it's really any different from renting, though.
When renting it might be easier to get out and find something cheaper quicker, especially if the house value drops substantially and I'm underwater, but the problem of eventual imminent homelessness if I can't pay is omnipresent regardless of whether renting or buying.

>> No.17998035

>>17997927
1.2k and created 3 days ago. Seens a lot of simiar talk in student groups from university kids who have gone home for school shutdown and wont be finishing school in their collge towns too.

>> No.17998044

>>17997553
the renters should tell her too bad and not pay anyway. let her try to evict

>> No.17998066

Do do I constantly see the word "landlord" on here now? Did all the twitterfags discover 4chans this week?

>> No.17998101

>>17997553
Should have all-in'd BTC at 3.2K, desu. Also, Bidesk (the exchange) token BDK.

>> No.17998117

>>17997879
>Steady job
Hard to keep during the big coof

>> No.17998123
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17998123

>>17997581
Same

>> No.17998132

>>17998066
Paid commies and a bunch of newfags that believe in socialism. This is a libertarian think tank board, get the fuck out of here

>> No.17998135

>>17998035
imagine groups like that reaching 5k people, and then imagine 50 such groups, by previous anons calculation we're then talking $75 billion worth of loans, and with the same prudent ratio of 30x that would mean $2.25 trillion in margin calls
nice financial system, seem really sustainable

>> No.17998155

>>17997553
>[word][space][punctuation]
Good, fuck frogs. I hope all Frenchies die.

>> No.17998206

>>17997553
I just hope renting in UK cities becomes cheaper.

>> No.17998225

>>17997927
>11 billion derivares in margin call
These type of derivatives and swaps should be illegal in the first place. What ethical financial products can come from this. Just another ilusion.

>>17997838
>new economic system
Supply chain, I suspect, will be demanded to be more localized level. Politicians and businesses will make a fortune by focusing on the domestic markets. IMO.

>> No.17998485

>>17997553
honestly speculators should get fucked.

>> No.17998513

>>17998206
Just go rent down in Cambridge.

>> No.17998836

>>17997553
OH NO! If my landlord goes broke, whom will I pay 900$ a month to be kept in a tiny wooden box?

>> No.17998846

>>17998836
You'll be on the street since the bank will come in and foreclose

>> No.17998863

>>17998846
good luck to the banks trying to forcibly remove the hordes of people who will remain and/or squat

>> No.17998867

>>17997613
>Remember when the boomers said real estate can only go up?

if coronachan doesn't lower real estate then i'll admit they were right and nothing will ever

>>17998836

based retard

>> No.17998942
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17998942

This is cyclical.

>> No.17998960

>>17998863
They will. They've done it before.

>> No.17998982

>>17997581
LOL

>> No.17998995

>>17997927
JUST. DON'T. DANCE

>> No.17999005

>>17997608
why would they buy bonds when the yield curve has inverted?

>> No.17999040

For one I am glad everytime I moved to a new place I would have to fight the landlord for the damage deposit they would make up some bullshit like I didn't steam the carpets. Anyways I got my deposit.

>> No.17999128

>>17997553
>renting out something you don't own

>> No.17999161

>>17999040
Anon, you should have steamed the carpets.

>> No.17999223

>>17997927

How does this derivative margin call bullshit even work? Like how does it get leverage so much and how the fuck does $372 million get leveraged to $11 billion?

>> No.17999235

>>17997553
>property owners lose jobs
lulz what job? Owning is my job.

>> No.17999282

>>17997553
good. landlording has risks its time these fuckers learn its not just easy passive income. if you are going to run a business you better responsibly save for times like this

>> No.17999323

>>17999161
Ya its like I am paying my landlord for a service that's why I pay inflated rent. I am not the employee here.

>> No.17999330

>>17997553
The UK made it illegal to evict someone while the virus is going on.