If more people did this the economy would grind to a halt. We've built our model on cheap credit, not savings. There's no incentive to save at any level of the economy for this reason.

In australia we passed laws preventing evictions due to covid and gave assistance.

6 months of income for me + my partner is $140,000, having that sitting in a bank would be costing me a fortune with the current garbage interest rates.

This post was edited by Plaguefear on Aug 11 2020 02:31am

Make more homeless shelters for the covid bankruptcies lol.

More empty houses and more homeless families.

What a fucking stupid idea.

"Lets do this thing that has completely failed to address the problem its supposed to now that the problem is going to get much worse, electively".




Things are a lot harder now than then. You could graduate high school and just buy a house then. Now rents are higher than mortgages amd and people are locked into a paycheck to paycheck grind.

Renters are paying more for their apartments then our parents used to pay for houses.

Boomers are saving their money for the government anyway. Unless you plan on dying in your home you will die bankrupt.

So things were easier when they were easier. Now things are a lot harder.



This post was edited by Skinned on Aug 11 2020 06:24am

Kill it with fire

#privilege

Easy for someone living on easy mode. How many people are you responsible for feeding, dude? Just you? Lol.

This post was edited by Skinned on Aug 11 2020 06:26am

So have it sitting in an investment account and liquidate assets when you need them.

People need to honestly examine their finances and figure out where the money is going.

Covid has been a massive wealth transfer from working and middle classes to the upper class.

Some street justice: https://www.cnn.com/2020/07/31/us/hartford-sword-homicide-trnd/

Damn.

If i was the LL i might call the bank and see what's possible instead of making people homeless. Banks are less emotional about all this.

If only housing laws across the board created more options for people. Seen three weeks back someone in Bay Area getting a notice to move their THOW. Just because inspector happened to drive through. No neighbors reported it.

When rent is ~4% higher than a mortgage that leaves a lot of renters salty. Seems only large syndicate rental operations or LL who doesn't own the property are in a significant pinch. I have no sympathy for either. If you own an investment loan, then turn around and charge a poor person bloated rent, then you are likely a slum lord.

This post was edited by RedFromWinter on Aug 11 2020 07:02am

What the Federal Reserve is doing is certainly unprecedented.