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Thread: Real Estate Crash thread
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03-25-2020, 03:49 PM #8326Banned
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Heard some famous chefwhat his what from top chef say he expects only 25% of restaurants to survive. He closed all his and laid off 300. The devestation to the industry is going to be unprecedented.
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03-25-2020, 03:58 PM #8327
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03-25-2020, 03:58 PM #8328
popular restaurant in town lost a chef to covid and shut it all down.
https://www.instagram.com/p/B-Ka-nTBQh3/
what happens when grocery workers start dropping
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03-25-2020, 04:01 PM #8329User
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03-25-2020, 04:11 PM #8330
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03-25-2020, 04:14 PM #8331Registered User
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There will be a million headlines like this soon: "The Cheesecake Factory Tells Landlords Across the Country It Won’t Be Able to Pay Rent on April 1"
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03-25-2020, 04:17 PM #8332"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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03-25-2020, 04:18 PM #8333
ha. I thought I was in the other thread
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03-25-2020, 04:21 PM #8334
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03-25-2020, 04:23 PM #8335
thanks for the clarification. I misinterpreted the post by PokPok
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03-25-2020, 04:24 PM #8336"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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03-25-2020, 04:51 PM #8337
Realistically though, I don't know many servers that own real estate outside of affordable housing.
I think the loss of the restaurant industry "safety net" though is going to be interesting if this recession sticks around. In 08 I got punted there myself but I was able to find work serving tables. I don't know what a lot of people are going to do now that the entire industry is basically being run by a couple cooks and a FOH manager running a drive thru.Live Free or Die
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03-25-2020, 04:54 PM #8338
https://www.salon.com/2020/03/25/ren...avirus-housing
Nicole Karlis
March 25, 2020 1:00PM (UTC)
As states "shelter in place" to flatten the curve of the novel coronavirus spreading, there is uncertainty around what the aftermath will look like economically, especially when it comes to the housing market. But as anxious citizens practicing social distancing search the internet for silver linings, one popular post has been circulating on Twitter suggesting that the rental market is currently "exploding" because more short-term rental properties are for sale as their owners aren't able offer them to travelers.
However, housing experts who spoke to Salon aren't so hasty to declare any such optimistic findings yet, but they are already seeing some interesting patterns that could indicate how this will all play out.
"What's going on broadly in the housing market is that a lot of people are taking a 'wait and see' approach," Zillow economist Jeff Tucker told Salon. "So that would be sellers holding off, and they're worried. They say 'Oh, I won't be able to have an open house; My agent won't even be able to meet people in person, to show them around the house,' especially in states or cities where there's been a stay-at-home order. As we've heard that already in California, those orders are really causing the purchase side of the real estate market to grind to a halt."
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03-25-2020, 06:39 PM #8339
coworker is due to pick up keys to her new place, but per her description, cannot contractually complete the walk through required. funny if true, but that’s rough.
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03-25-2020, 06:45 PM #8340
Real Estate Crash thread
2 homes in my neighborhood have sold in the past 2 weeks for a million +. which flabbergasted me (not bc of the price but bc of the timing)
why not wait a couple weeks and get it a hundred thousand cheaper?
Our mkt won’t crash as much as others but that just seems lazyskid luxury
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03-25-2020, 06:53 PM #8341
“I want that squirrel, daddy, and I want him NOW!”
Forum Cross Pollinator, gratuitously strident
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03-25-2020, 06:53 PM #8342Registered User
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Contracts went hard, weeks ago.
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03-25-2020, 07:13 PM #8343
I don’t think so. I know these neighbors so have followed the progress and it’s pretty damn easy to get out with contingencies.
why wouldn’t you risk losing a couple grand in earnest money to save tens of thousands?
but as rideit mentions- people want what they want. and happy for my neighbors that got top dollhairskid luxury
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03-25-2020, 07:17 PM #8344
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03-25-2020, 07:25 PM #8345
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03-25-2020, 07:54 PM #8346Registered User
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Bunny is gonna have to get a job working 30+ hrs a week in Summit before he will qualify for anything in his price range.
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03-25-2020, 08:01 PM #8347Registered User
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At least he will qualify for affordable housing w those 30 hrs then he can be a real local talking about winning
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03-25-2020, 08:05 PM #8348Registered User
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03-25-2020, 09:12 PM #8349
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03-25-2020, 09:16 PM #8350Registered User
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