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The rents due...


HolyCow
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3 minutes ago, spunko said:

Ah, i was hoping it was Fungus... :D

He will have quite a problem considering he does not accept people claiming benefits so he will have to evict all those tenants who are now jobless and claiming UC. Good luck with that and finding new tenants who are in work! :P

Edited by HolyCow
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3 minutes ago, HolyCow said:

He will have quite a problem considering he does not accept people claiming benefits so he will have to evict all those tenants who are now jobless and claiming UC. Good luck with that and finding new tenants who are in work! :P

Risks losing 12 months of rent when at a pinch might only lose 2, if cafe owners and alike have their staff covered a temporary suspension of rents/rates will leave them with just the financing and personal income which although not inconsiderable might survivable for a short term. 

Fecking idiot.

Demand from new entrants in the market will be clobbered for months/years, those already in the market are very incentivised to still make a go of it, well until they meet an ultimatum like this.

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6 minutes ago, HolyCow said:

He will have quite a problem considering he does not accept people claiming benefits so he will have to evict all those tenants who are now jobless and claiming UC. Good luck with that and finding new tenants who are in work! :P

It's okay he sold his profile to a mysterious Chinese investor last year, or was that the year before? I'm not sure even he knows. 

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5 minutes ago, onlyme said:

Risks losing 12 months of rent when at a pinch might only lose 2, if cafe owners and alike have their staff covered a temporary suspension of rents/rates will leave them with just the financing and personal income which although not inconsiderable might survivable for a short term. 

Fecking idiot.

Demand from new entrants in the market will be clobbered for months/years, those already in the market are very incentivised to still make a go of it, well until they meet an ultimatum like this.

I was referring to Fungus, not the bloke in the main article, sorry it wasn't clear. 

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13 minutes ago, spunko said:

It's okay he sold his profile to a mysterious Chinese investor last year, or was that the year before? I'm not sure even he knows. 

I thought last time around he did actually sell a few (or at least evicted the tenants so he could sell them)? 

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Democorruptcy
1 hour ago, spunko said:

It's okay he sold his profile to a mysterious Chinese investor last year, or was that the year before? I'm not sure even he knows. 

Why would somebody want a profile as fat as that?

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2 hours ago, HolyCow said:

Oh him.

One of the last few to draw down millions from Scots fucktards banks, before 2008 n all that.

Bust.

I was hoping it was fungus too. He cant be far behind.

 

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The article refers to a cafe in London paying £200k a year rent....ffs, even if they sell a coffee for £5 they'd need to sell 110 a day just to cover rent....

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Just now, Great Guy said:

The article refers to a cafe in London paying £200k a year rent....ffs, even if they sell a coffee for £5 they'd need to sell 110 a day just to cover rent....

They'd probably do that easily in Central London.

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The Masked Tulip

Apparently Buffet's company has been acting as an insurer for lots of companies who cannot get insurance and as a reinsurer for insurance companies - basically insurance for insurance companies. 

So he will be getting a load of printed money.

It has been estimated that 40% of domestic mortgages will default within 3 months.

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6 minutes ago, The Masked Tulip said:

Apparently Buffet's company has been acting as an insurer for lots of companies who cannot get insurance and as a reinsurer for insurance companies - basically insurance for insurance companies. 

So he will be getting a load of printed money.

It has been estimated that 40% of domestic mortgages will default within 3 months.

Doesn't Buffet already own a huge swathe of America's residential mortgages. He'll own everything soon...

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1 hour ago, The Masked Tulip said:

Apparently Buffet's company has been acting as an insurer for lots of companies who cannot get insurance and as a reinsurer for insurance companies - basically insurance for insurance companies. 

So he will be getting a load of printed money.

It has been estimated that 40% of domestic mortgages will default within 3 months.

Despite the folksy darned good company pitch, Buffet has always used the premiums of  supercar reinsurance to buy good cash yielding companies.

Even the most respectable insurance always teeters around being a long con.

1 hour ago, HolyCow said:

Doesn't Buffet already own a huge swathe of America's residential mortgages. He'll own everything soon...

No.

Prime stuff is on the GSE freddy n fannies books.

Both are now teering in bankruptcy. Again.

 

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3 hours ago, The Masked Tulip said:

Apparently Buffet's company has been acting as an insurer for lots of companies who cannot get insurance and as a reinsurer for insurance companies - basically insurance for insurance companies. 

So he will be getting a load of printed money.

It has been estimated that 40% of domestic mortgages will default within 3 months.

Is that if the lockdown continues until then? Sourcepls.

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Chewing Grass

Had a search for 'united states 40% domestic mortgages' and this was the top result.

Poor show #Google you arseholes.

'Early data shows African Americans have contracted and died of coronavirus at an alarming rate'

https://ctmirror.org/2020/04/05/early-data-shows-african-americans-have-contracted-and-died-of-coronavirus-at-an-alarming-rate/

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Will people suffer financially as much as predicted? If you're on 80% furloughed pay and your mortgage repayments make up more than 20% of your outgoings (and on a mortgage holiday) then aren't you effectively making money?

Although things are changing it seems.. https://www.dailymail.co.uk/news/article-8190855/Waitrose-staff-told-pay-time-self-isolate-coronavirus.html

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Just now, spunko said:

Will people suffer financially as much as predicted? If you're on 80% furloughed pay and your mortgage repayments make up more than 20% of your outgoings (and on a mortgage holiday) then aren't you effectively making money?

Yes. In nominal terms. I worked this out for our personal circumstances within about 3 nanoseconds of the original announcement.

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Wight Flight
17 minutes ago, spunko said:

Will people suffer financially as much as predicted? If you're on 80% furloughed pay and your mortgage repayments make up more than 20% of your outgoings (and on a mortgage holiday) then aren't you effectively making money?

Although things are changing it seems.. https://www.dailymail.co.uk/news/article-8190855/Waitrose-staff-told-pay-time-self-isolate-coronavirus.html

Correct but ...

How many people are actually furloughed?

How long can the bosses afford to pay the furloughed wages for?

There is no holiday for renters

It is capped at £2,500. That won't be enough for many.

Some will be fine. Many, many others won't.

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Frank Hovis
11 minutes ago, Wight Flight said:

Correct but ...

How many people are actually furloughed?

How long can the bosses afford to pay the furloughed wages for?

There is no holiday for renters

It is capped at £2,500. That won't be enough for many.

Some will be fine. Many, many others won't.

Yep, the longer the lockdown runs the more people lose everything.

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14 minutes ago, Wight Flight said:

Correct but ...

How many people are actually furloughed?

How long can the bosses afford to pay the furloughed wages for?

There is no holiday for renters

It is capped at £2,500. That won't be enough for many.

Some will be fine. Many, many others won't.

The bosses aren’t paying the furloughed wages. The government is.

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Just now, Rowley said:

The bosses aren’t paying the furloughed wages. The government is.

My employer isn't huge, medium sized. I'd like to think they had enough cash reserves to keep the business mothballed for a few months, if wage costs were paid by the government.

Frankly if they don't then they don't really deserve to be running a business.

1 minute ago, Wight Flight said:

Really?

Do you know when that might happen?

Unknown at present but if they don't get on top of it after announcing they would then it's going to be an epic shitshow.

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Wight Flight
2 minutes ago, eight said:

My employer isn't huge, medium sized. I'd like to think they had enough cash reserves to keep the business mothballed for a few months, if wage costs were paid by the government.

Frankly if they don't then they don't really deserve to be running a business.

You would like to think so.

But how many, even well run firms, can afford two months payroll (and all other overheads)  with four months loss of income?

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13 minutes ago, Wight Flight said:

You would like to think so.

But how many, even well run firms, can afford two months payroll (and all other overheads)  with four months loss of income?

Firms don't carry lots of cash without a reason.  If they've got lots of cash (without a spend strategy) the shareholders will vote a dividend.

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