Furlough Estimates

Yakob said:
Interesting, I wonder if it could be that proportionally more homeowners missed their mortgage payments, and relatively few of the missed payments were rent. That might make sense since supposedly it's easier to get evicted that foreclosed.
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That’s possible, but reports are that forbearance requests have only been up marginally. Now, commercial is a different story. That’s a bloodbath both for landlords and renters.
 
SlumTodd_Millionaire said:
You could be right. So far we’re doing great, but with the Great Depression that’s just getting started, I certainly don’t feel safe.



All of us in the industry can’t figure out where these numbers are coming from. We can’t seem to find anyone, either in single or multifamily, who is experiencing this. I’m thinking it’s media BS.
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I didn’t see anything regarding region, income level, property value of those rents in the article. In Texas, middle class, single family, no issues so far and in fact still have multiple applicants for properties within 24 hours of going up for lease.
Could be media being selective on data reported and using it to blanket statement like you mentioned.
 
In Denver there has been zero indication of this. Rental property had 15 application within one day of being listed. Properties for sale have 15 to 20 offers within days. The people most affected by this disaster didn’t own homes in Denver anyway. It’s the sad reality of it all.
 
Real estate is blowing up on the Eastside of Seattle. This is largely an upscale market however. Fueled by tech workers who can now work from home indefinitely.
 
Ayork62493 said:
In Denver there has been zero indication of this. Rental property had 15 application within one day of being listed. Properties for sale have 15 to 20 offers within days. The people most affected by this disaster didn’t own homes in Denver anyway. It’s the sad reality of it all.
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"Maybe after this is all over I'll get lucky and actually be able to afford a house."

"WRONG."
 
JordanD said:
"Maybe after this is all over I'll get lucky and actually be able to afford a house."

"WRONG."
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My wife and and I said eff it in Denver. We were waiting for me to finish up LCA training and then be off to the career destination but LOL. If I lose my job it will be cheaper to have this house and rent out the downstairs to my furloughed United pilot friends.
 
Ayork62493 said:
My wife and and I said eff it in Denver. We were waiting for my to finish up LCA training and then be off to the career destination but LOL. If I lose my job it will be cheaper to have this house and rent our the downstairs to my furloughed United pilot friends.
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With all due respect to the Denver..Denverites? I don't get how that place got so expensive. You're 2 hours from the mountains and east of downtown Denver is basically Kansas pt. 2 with crazier weather. Downtown at night was also a little too wild and sketchy for my liking the couple times I've been there.
 
JordanD said:
With all due respect to the Denver..Denverites? I don't get how that place got so expensive. You're 2 hours from the mountains and east of downtown Denver is basically Kansas pt. 2 with crazier weather. Downtown at night was also a little too wild and sketchy for my liking the couple times I've been there.
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Yeah, I really don’t know. We are in southwest Denver (Littleton) which is really quite nice. We are walking distance to bars and a downtown area. Downtown Denver sucks. I lived there when I was 21 and it was fine. I’m an old 25 year old with back problems now and everything sucks down there. I’m really only 20 mins from the foothills, an hour to really beautiful hikes. Overall, I agree though. It’s outrageous.
 
JordanD said:
With all due respect to the Denver..Denverites? I don't get how that place got so expensive. You're 2 hours from the mountains and east of downtown Denver is basically Kansas pt. 2 with crazier weather. Downtown at night was also a little too wild and sketchy for my liking the couple times I've been there.
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It's Kansas with a view and legal weed.

I don't get it.
 
Ayork62493 said:
In Denver there has been zero indication of this. Rental property had 15 application within one day of being listed. Properties for sale have 15 to 20 offers within days. The people most affected by this disaster didn’t own homes in Denver anyway. It’s the sad reality of it all.
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To springboard, just put an offer on a house over the 4th weekend. Fought 15 other offers in one day and won by offering a good amount over asking. This last weekend, listed our house and had multiple offers after a weekend of showings and got over asking.
 
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JordanD said:
With all due respect to the Denver..Denverites? I don't get how that place got so expensive. You're 2 hours from the mountains and east of downtown Denver is basically Kansas pt. 2 with crazier weather. Downtown at night was also a little too wild and sketchy for my liking the couple times I've been there.
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There's a lot of Kool aid drinking that goes on in Denver. I grew up there, and it was absolutely awesome in the 80s/90s. Not crowded, people were nice, and things were still affordable.

Now the Front Range (aka the Denver area) is extremely busy with people that have moved in relatively recently. Some are cool, a lot of them are not. Trails and wilderness areas are getting trashed, people are just really rude and douchey, and honestly it seems like people are there mostly to try and outdo each other with Instagram and strava. You will easily sit in traffic for a few hours even on a random weekday during ski season for a trip to the mountains. It just sucks, and it made me sick to see it all unfold.

My wife and I sold everything a couple years ago and moved away permanently. I miss seeing my lifelong friends and family, but I just couldn't take it anymore. There are MUCH better places to live for the true mountain experience, that are also cheaper and not full of wannabe outside magazine Instagramers.
 
GypsyPilot said:
My wife and I sold everything a couple years ago and moved away permanently. I miss seeing my lifelong friends and family, but I just couldn't take it anymore. There are MUCH better places to live for the true mountain experience, that are also cheaper and not full of wannabe outside magazine Instagramers.
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I never got this about Denver either. I always referred to it as in Kansas as well. There are so many better mountain cities.
 
Our neighborhood outside of Houston (which is flush with UAL pilots) has had multiple homes listed for lease or for sale in the last few months....and none have been on the market for more than a month.

It’s strange to see the same folks who call anyone realizing the seriousness of the pandemic “doomers” saying that this will be a decade-long depression without any real evidence.
 
zmiller4 said:
Our neighborhood outside of Houston (which is flush with UAL pilots) has had multiple homes listed for lease or for sale in the last few months....and none have been on the market for more than a month.

It’s strange to see the same folks who call anyone realizing the seriousness of the pandemic “doomers” saying that this will be a decade-long depression without any real evidence.
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Define “without any real evidence.” Because all economic indicators are frightening.
 
GypsyPilot said:
There's a lot of Kool aid drinking that goes on in Denver. I grew up there, and it was absolutely awesome in the 80s/90s. Not crowded, people were nice, and things were still affordable.

Now the Front Range (aka the Denver area) is extremely busy with people that have moved in relatively recently. Some are cool, a lot of them are not. Trails and wilderness areas are getting trashed, people are just really rude and douchey, and honestly it seems like people are there mostly to try and outdo each other with Instagram and strava. You will easily sit in traffic for a few hours even on a random weekday during ski season for a trip to the mountains. It just sucks, and it made me sick to see it all unfold.

My wife and I sold everything a couple years ago and moved away permanently. I miss seeing my lifelong friends and family, but I just couldn't take it anymore. There are MUCH better places to live for the true mountain experience, that are also cheaper and not full of wannabe outside magazine Instagramers.
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Replace Austin for Denver and that’s my story, exactly.
 
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