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Old 09-02-2020, 05:43 AM
 
106,238 posts, read 108,237,907 times
Reputation: 79776

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Best thing we did is get out of being landlords
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Old 09-02-2020, 06:01 AM
 
7,759 posts, read 3,857,300 times
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Quote:
Originally Posted by dee2364 View Post
I just asked my parents to sell the house as soon as I heard this.
An entrepreneur on YouTube predicted fire sales in 2021. The winners will be big solvent investors with cash that can weather a 10 year downturn. The losers will be Mom and Pops.
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Old 09-02-2020, 07:15 AM
 
Location: Knoxville, TN
11,134 posts, read 5,763,690 times
Reputation: 21820
Quote:
Originally Posted by Tencent View Post
An entrepreneur on YouTube predicted fire sales in 2021. The winners will be big solvent investors with cash that can weather a 10 year downturn. The losers will be Mom and Pops.
Dead on. The big money is going to make out like bandits from this and laugh all the way to the bank. The small investors/landlords will foot the bill and take the financial hit, as always.

Nothing new here.
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Old 09-02-2020, 07:53 AM
 
Location: Montreal
2,057 posts, read 1,099,660 times
Reputation: 2281
Quote:
Originally Posted by Igor Blevin View Post
This isn't confined ot real estate. It is happening with retail and food services. Small business is being destroyed and megacorporations will step in and fill the vacuum when demand resumes. I don't believe this is by design, but if you are a big, well funded corporation with good cash reserves, right now the best thing for you is for the shut down to go on at least another 6 months, wiping out thousands more small businesses.

I should probably buy stock in Walmart, MacDonalds, Target, and any other huge corporations. Their profits can only soar after this is over.


Yes, well that is what is occurring in the stock markets as we speak. I mean there is an upsurge of value in big corporations, and this indicates that they can consolidate power over the long term. The small independent owners need cash reserves to stay afloat, which, unfortunately are depleting.
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Old 09-02-2020, 10:58 AM
 
15,801 posts, read 14,414,927 times
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Well you did choose to do it in the worst place in the country to be one. This is why I never bought investment properties in NYC/S.

Quote:
Originally Posted by mathjak107 View Post
Best thing we did is get out of being landlords
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Old 09-02-2020, 11:00 AM
 
15,801 posts, read 14,414,927 times
Reputation: 11861
Since it's a nationwide rule. The lawyers for any real estate group that wants to try should shop for the most conservative, property rights friendly federal court district and circuit, and file for a permanent injunction.

Quote:
Originally Posted by dee2364 View Post
The Powers That Be have already come up with some bogus reason why it can do it, something about a special clause. I can't remember what the clause is but you'll be hearing it spread, Russian disinfo style, across many media outlets and comments sections until it feels "natural". I've been seeing multiple bots on YouTube posting about it over and over again. I call b.s. I highly doubt YouTubers know anything about the law, so it's just a little laughable to see so many of them seeming to have foreknowledge of this very vague, little heard of exception.
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Old 09-02-2020, 02:11 PM
 
Location: East Flatbush
91 posts, read 37,644 times
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Quote:
Originally Posted by Dave 92 LSC View Post
Lots of buildings will catch fire I suspect. With it without occupants.

Ahh, the good old days!



Source: Architectural Record
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Old 09-02-2020, 02:22 PM
 
2,969 posts, read 1,154,203 times
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Remember NEVER TRUST THE NEW YORK TIMES it maybe bunch of BS!! the CDC don't make those decisions!!
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Old 09-02-2020, 08:40 PM
 
31,745 posts, read 26,706,619 times
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Quote:
Originally Posted by RICANRICAN View Post
Remember NEVER TRUST THE NEW YORK TIMES it maybe bunch of BS!! the CDC don't make those decisions!!
It's funny because DT and CDC believe they do have such authority.

https://www.law.cornell.edu/uscode/text/42/264


https://gothamist.com/news/cdc-exten...-rent-end-2020
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Old 09-02-2020, 08:45 PM
 
74 posts, read 39,139 times
Reputation: 91
Also helps progressives who want to buy buildings for cheap and turn them into housing for the homeless
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