Posted on 04/09/2020 7:10:46 PM PDT by rintintin
First it was the waitress whose restaurant closed. Then the waiter, the bartender, the substitute teacher, the hairdresser, the tattoo artist and the Walgreens manager.
One after the other, the tenants called and emailed their landlord, Bruce Brunner, to say they were out of work and the rent was going to be late. A week after the bill was due, some two dozen of Mr. Brunner’s 130 tenants had lost their jobs or had their hours reduced. He’s working out payment plans and using security deposits as a stopgap while directing tenants to the emerging patchwork of local, state and federal assistance programs.
“Six weeks ago, you could name your price and you’d have multiple people applying,” said Mr. Brunner, who lives in Minneapolis, where he owns and manages 20 duplexes and triplexes across the city. “Now you’re deferring and working out payment plans, and it’s only going to get worse.”
(Excerpt) Read more at google.com ...
Frankly another depression will cleanse the deteriorating soul of the country. Rich people have lost much more due to drops in stocks and bonds because of covid-19.
Because when they do have full time jobs, they do not live BELOW their means. From age 21 through 30 I lived like I was broke, I lived WAY BELOW my means, working on 2 jobs totaling 60 hours every week. When one is young it is easier to rough it. The good news is I never had to scrimp after age 30. The money invested in youngest years grows the most.
Here’s the smallest violin in the world playing for the rich.
For Autocrats, and Others, Coronavirus Is a Chance to Grab Even More Power
https://www.nytimes.com/2020/03/30/world/europe/coronavirus-governments-power.html
“Rich people have lost much more due to drops in stocks and bonds because of covid-19.”
Anyone with a 401K retirement plan will also have lost and have been hurt financially. Let’s not fall into the trap of class hatred. This sucks for everyone.
So the government bureaucrats can sit back while masses of renters, many of whom have money to pay rent, stage a rent strike? And the landlords are supposed to just suck it up? How would they feel if the property owners staged a property tax strike? Maybe then they wouldn’t feel so immune from the economic pain of this shutdown.
Late!
I am talking proportions. If joe-6-pack lost $100k paper value in his 401-k, Warren Buffet lost $10 Billion on paper.
No, it was designed by Chicoms to destroy Western economies.
They have realized the days of $trillion trade surpluses every year are over due to election of a true America first president. Trump is so different than the previous republican & democrat presidents who helped China grow their economy at the expense of American middle class manufacturing jobs.
You are right, and I don’t know if I made good decisions, or just got lucky, but I am fine no matter what happens to the economy. That doesn’t mean I like watching my 401k tank so some mediocrat who was elected because of the party marker behind his name find his talent in his new tyranny. Just like I would stand against the government when they attack you in your most vulnerable way. When they came for people who live pay check to pay check...
This country desperately needs to have Paul Krugman predict our economic woes are really bad and will last for years.
No problem! Just freeze the evictions, That will stop that, but raises another problem. The landlord loses the building to the tax man!
The gov’t attack which hurts most for people trying very hard to move up is the tax brackets. I am old enough to have lived when taxes were brutal as your earnings crept up to try and keep up with inflation. That was late 1960’s through 1980. That permanently changed me from a young democrat in my 20’s to a republican after age 30.
Not if it burns down first.
A great idea, which is why Congress will never do it.
The reason why you do not live paycheck to paycheck.
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Some people are more fortunate than others, I’m one of the fortunate ones but I don’t rub salt in the wounds of the less fortunate.
They can’t pay no rent but the landlord’s son just saw them hauling a new 70” TV upstairs to deal with the self isolation. And the other day they were grilling steaks and lobster tails outside while jabbering away on new model iPhones while drinking Hennessy in red plastic cups.
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