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A Deluge Of Loan Defaults Is Expected Once Courts Lift Foreclosure Moratoriums

A report from Marketplace. “New survey data on Wednesday from the National Association of Homebuilders shows builder confidence fell the most ever in a month, to 30. Anything below 50 is considered negative, and this is the first negative reading in more than five years. Jeff Caruso, CEO of Caruso Homes in Maryland, says his sales are down probably 80% so far this month, partly because mortgage lenders have tightened their credit standards.”

The Tampa Bay Times in Florida. “Before the pandemic began to sweep the nation, the Tampa Bay area was in the midst of an unprecedented apartment boom. Developers had completed 170 projects with a total of nearly 22,700 units in Hillsborough and Pinellas counties since the 2010 end of the Great Recession, according to the Tampa brokerage Franklin Street. Still under construction are 34 projects with a total of nearly 7,900 units. The vast majority are in Tampa and St. Petersburg, where developers touted the appeal of walking from ‘luxury’ apartments.”

“Even before the coronavirus, said Darron Kattan, an expert on multi-family housing, bankers had started tightening up on loans for apartment projects. If the coronavirus continues to spread, developers face the prospect of thousands of apartments hitting the market at a time of stay-at-home orders and massive unemployment. Will they have a hard time filling units? Will they have to offer bigger-than-usual incentives to move in? Will they have to charge lower rents than planned?”

“‘Yes, yes and yes,’ Kattan said.”

From AM New York. “Rent prices across four boroughs increased slightly in March, but some areas saw more dramatic increases and decreases than others, a report by MNS Real Estate showed. In Tribeca, one of the most expensive areas of Manhattan, the report found that one-bedroom apartments without a doorman dropped in price by more than 16%, beating out SoHo one-bedrooms with a doorman, which only dropped by 15%.”

“Studio apartments in Queens’ Ridgewood neighborhood boasted the most dramatic drop of any neighborhood in the city, with a drop in average price of just over 22%. In the Bronx, studio apartments in Mott Haven saw the greatest decrease, with a 6.8% decline in average price.”

The Los Angeles Times. “A growing number of states and cities have enacted eviction moratoriums to protect tenants from losing their homes if they can’t pay the rent during the coronavirus emergency. Most moratoriums simply halt evictions for non-payment. Tenants will eventually have to come up with the rent payments they missed. If they can’t pay off their rent debt, they’ll still face eviction and hardship. Tenant groups are pushing governors in California, New York, Washington and other states to go further and use their emergency powers to fully cancel rent obligations until communities reopen. And others are calling on tenants to withhold payments in a coordinated rent strike on May 1 to force the issue.”

“Without rent coming in, these landlords risk foreclosure if their lenders don’t give them the option to delay mortgage payments. And that’s just the mortgage payment. Landlords still need to pay property taxes, insurance and maintenance, even if the rent checks stop coming. There’s a real concern that the financial toll caused by lost rental income could prompt landlords to sell their properties in droves.”

The Lens on Louisiana. “Andreanicia Morris, executive director of Housing NOLA said she was caught off-guard by a different statistic included in the report: the number of vacant homes in the city. According to estimates from the U.S. Census Bureau, New Orleans had an average 37,702 vacant housing units at any one time from 2014 to 2018. Over half of those are categorized as ‘other vacancies,’ which includes blighted homes. However, the more telling number for Morris is the 7,360 vacant units that are actually on the rental market.”

“‘That we had 7,300 apartments that are occupiable is breathtaking. I knew we had a lot, I did not know it was that many,’ she said. ‘This isn’t a market that we can tweak. These aren’t systems that need a little patience. These systems need to be massively retooled, because they are broken.'”

The Columbus Dispatch in Ohio. “It’s difficult to time the real-estate market. For decades, it was understood that you could safely put your money into a home, sit back, and watch your home’s value go up. In our lifetimes, the real-estate market has now suffered at least two major shocks. The first one was the Great Recession in 2008, and the second one is just beginning with the COVID-19 pandemic.”

“We usually think of rental property owners as being large companies or entities, but there are millions of rental units owned by individuals. If those individuals have no income from their tenants, those owners likely will default on their mortgage payments, or they might try to sell their units. And, when we say units, those units might be single-family homes, townhouse units or condominiums.”

From Globes. “On a normal day, Centennial Bank’s Florida operations would issue five loans and get two others repaid, but nothing has been normal since the coronavirus set in and threw the once robust commercial real estate market into uncertainty. ‘We are not lending any new money,’ said David Druey, Centennial Florida regional president in Pompano Beach. ‘We haven’t had people calling us saying, ‘Oh, I want to borrow money.’ It’s not really about expansion today.”

“This leaves landlords stuck between nonpaying tenants and their own lenders. A deluge of loan defaults is expected once courts lift foreclosure moratoriums. ‘We are expecting an uptick in the default space because of those companies, corporations and residents that are affected by the long-term effects of the hit on the economy,’ said Jason Vanslette, partner at Kelley Kronenberg in Davie.”

“One scenario projects an 8 percent default rate on commercial real estate loans, up from the current 0.4%, with the lodging industry taking the hardest hit, according to research by analytics firm Trepp LLC, part of British media company Daily Mail and General Trust. Hotel loans could experience a 35% default rate followed by retailers at 16% through the end of 2023, according to Trepp. Office loans could have a 4.3% default rate, while multifamily and industrial would fare relatively well at 3% each.”

“The U.S. already is reporting a record number of unemployment benefit applications. And the medical crisis is having a more widespread economic impact than the financial crisis of 2008. ‘It’s having a ripple effect across industries,’ said MMG managing partner Gabriel Navarro. ‘The impact — be it to retail landlords, to multifamily landlords who are going to be challenged with individuals paying rents, office landlords who are going to be challenged by office tenants having difficulty to pay rent — I think the impacts are going to be across every asset class and every asset. I don’t think anybody is immune from this one.'”

From Housing Wire. “Opendoor, which has raised more than $1 billion in funding in the last few years, laid off over 600 of its employees Wednesday as the company struggles to deal with the economic impact of the coronavirus. This comes after a wave of iBuyers have either paused iBuying, started cancelling contracts, or made sizable amounts of layoffs. ‘Given the shelter-in-place guidelines, we’ve seen declines in the number of people buying, selling, and moving during this time of uncertainty. In response, we’ve announced to the company that we’ve made the difficult decision to reduce our team by 35%,’ Eric Wu, chief executive officer of Opendoor, said in a statement.”

“The layoffs are the latest in a series of moves by Opendoor to deal with the downturn in the housing market. The company recently paused its homebuying efforts and began canceling pending contracts, leaving some home sellers stranded with two mortgages. And now, the company has laid off 35% of its staff. It’s a swift fall for a company that was once thought of as one of the companies that could become the ‘Amazon of housing,’ a true one-stop-shop for all things housing.”

From Chicago Agent Magazine. “Less than two weeks after making news for temporarily suspending its iBuying program in the wake of the coronavirus pandemic, Redfin has furloughed – and in some cases permanently let go – just over 40 percent of its agent workforce. At an Agent Publishing event in early March, @properties co-owner Thad Wong said that, although Redfin has captured a substantial portion of the market in places like Seattle, where their market share is 4% to 5%, they’re still not profitable. ‘They started before Zillow, so they’ve been around for 14 to 15 years; most people would consider that a failure,’ Wong said.”

“A downturn in the economy is something that has worried Redfin CEO Glenn Kelman for some time, something he addressed during a December 2018 GeekWire Summit. ‘This is a risky business, right? If the economy turns even slightly, you could be left holding a lot of houses on your books. Does that scare you?’ GeekWire co-founder John Cook asked Kelman at the event. ‘Do you remember Chevy Chase in Vacation, when he’s about to jump into the cold water, saying, ‘This is crazy?’ Kelman replied. ‘I think all of us getting into this business have that voice in our head, but we also have that chart in our face, which says that fortune favors the bold.'”

Related Posts

Getting Ahead Of Buyer’s Remorse

https://www.youtube.com/watch?v=QpSbVF1WVqk https://www.youtube.com/watch?v=poWv_GoIJFY https://www.youtube.com/watch?v=PTRuHXEEBZk https://www.youtube.com/watch?v=pk3CH3ps5g0

This Post Has 92 Comments

  1. ‘although Redfin has captured a substantial portion of the market in places like Seattle, where their market share is 4% to 5%, they’re still not profitable. ‘They started before Zillow, so they’ve been around for 14 to 15 years; most people would consider that a failure’

    Yep.

      1. That’s where the real money…was. The real winners in all this were the people who sold to Zillow and Open Door recently. It was a narrow window but they squeezed through it.

  2. ‘Will they have a hard time filling units? Will they have to offer bigger-than-usual incentives to move in? Will they have to charge lower rents than planned?’

    ‘Yes, yes and yes’

    Should have been reading the HBB.

    1. Only two??

      I imagine there are some flippers and ‘AirBnB-lords’ that are googling ‘how to fake your own death’…

        1. Or how to leave the country to live in Thailand or wherever.

          Are there even any flights right now?

          1. “…Are there even any flights right now?…”

            After they get done googling ‘how to fake your own death’ its ‘how to build a boat’

  4. Do Wall Street people read newspapers? Or do they buy dips on the assumption that the COVID-19 outbreak is almost over, and the Fed will pump up the market after it ends?

    Or is this merely the denial phase of the stages of grief?

    1. The Financial Times
      US economy
      New data shows vast scale of US economic breakdown
      Retail sales and industrial production fall to historic lows as lockdowns bite
      Restaurants and bars saw a 27 per cent drop in spending, the worst performing sector in the new Commerce Department data on retail sales.
      © Bloomberg
      Mamta Badkar in New York and Brendan Greeley in Washington 4 hours ago

      Data from all corners of the US economy published on Wednesday revealed the scale of the collapse in consumer demand, industrial activity and confidence, suggesting the hit from coronavirus lockdowns has been deeper even than feared.

      Two measures in particular were historically bad: US industrial production showed the biggest monthly decline since the end of the second world war, while retail sales dropped by the most since the data started being collected in 1992.

      “The message is that it will be a brutal spring quarter for the economy,” said Joshua Shapiro, an economist at the consulting firm MFR. “While there will be a bounce in growth rates as the economy is gradually reopened, returning to the levels of activity that prevailed pre-crisis is going to take a long time, and indeed probably will be measured in years for the most affected sectors.”

      Industrial production, a broad gauge of output from factories, mines and utilities, fell 5.4 per cent in March from the previous month, according to the Federal Reserve, its worst performance since 1946.

      Headline retail sales, a measure of sales in shops and restaurants, fell 8.7 per cent, according to the Commerce Department, erasing four years of growth.

      Both measures came in worse than economists had expected.

      The retail sales data in particular showed how the pandemic has curbed and reshaped Americans’ spending habits since mid-March, when social distancing measures were imposed and Americans began to lose their jobs in record numbers.
      …

      1. “Restaurants and bars saw a 27 per cent drop in spending, the worst performing sector”

        I wonder if this could have anything to do with most restaurants and bars closing entirely towards the end of March?

      2. “…retail sales dropped by the most since the data started being collected in 1992.”

        In other words, nobody knows how far back before 1992 you would have to go to find a worse drop in retail sales. Maybe never?

      3. “…returning to the levels of activity that prevailed pre-crisis is going to take a long time, and indeed probably will be measured in years for the most affected sectors.”

        If this turns out to be correct, it implies a real decline in the present value of stock shares in U.S. corporations.

        There are still questions about whether the Fed would prefer to create inflation than to allow the nominal values of stocks to decrease, and whether they have the ability to create inflation even if they decide to try.

    3. 💪FAS … ver$es … 💪FAZ

      (The red bandana$ is tied @ the $28.00 mark on the tug$.a.war$ rope.)

      👀 never seen the lo$er$ field look $o muddy!

  5. https://www.realclearmarkets.com/articles/2020/04/14/coronavirus_and_the_medias_lies_damned_lies_and_statistics_488985.html?mkt_tok=eyJpIjoiT0dRMk9XWXlNR0V6Tm1ZNSIsInQiOiJqUWlTeVZQUk9zYkE0M2lyYkF6a0Q0V3dhZEJ4cXZxejl6QWpSVUR2UWlTRnVkUCtjblRoZjNpRzNiQWpqV2VSZWVEaXRUSVJ3MjIzQTRkOWQ1N2dxUG1pcENQWmZyeEtVdGlhMHpsNUhCZk1hMERQMHJ5dXlWeGtDdHQ4anFmQyJ9

    ‘The sooner we begin to take measured steps in the weeks ahead to start reopening the economy and begin some normalization of activities, the sooner we will stop inflicting incalculable harm on our economy and American households.’

    1. A reader sent this in:

      ‘Professor Yitzhak Ben Israel of Tel Aviv University, who also serves on the research and development advisory board for Teva Pharmaceutical Industries, plotted the rates of new coronavirus infections of the U.S., U.K., Sweden, Italy, Israel, Switzerland, France, Germany, and Spain. The numbers told a shocking story: irrespective of whether the country quarantined like Israel, or went about business as usual like Sweden, coronavirus peaked and subsided in the exact same way. In the exact, same, way. His graphs show that all countries experienced seemingly identical coronavirus infection patterns, with the number of infected peaking in the sixth week and rapidly subsiding by the eighth week.’

      ‘But what about Italy and their staggering 12% mortality rate? “The health system in Italy has its own problems. It has nothing to do with coronavirus. In 2017 it also collapsed because of the flu,” Professor Yitzhak Ben Israel told the news agency. Indeed, Italy’s exceptionally high coronavirus mortality rate is eerily reminiscent of their unusually high flu mortality rates. Supportive of this theory, Germany, has low flu infection and mortality rates and similarly low coronavirus rates.’

      https://townhall.com/columnists/marinamedvin/2020/04/15/israeli-professor-shows-virus-follows-fixed-pattern-n2566915?utm_source=thdailypm&utm_medium=email&utm_campaign=nl_pm&newsletterad=&bcid=4665e79ca8ac37e70e416f746a106f74&recip=24290027

      1. Eye helped cause the the Hou$ing Bubble ll to bur$t using deeth.👾.hy$teria & all eye gots was this,
        Lousy T-Shirt!

        Who’$ gonna be left standing after the killa.👾.knob.handle.deeth.germ$ finishe$ up circling the Globe, disgui$ed as: “it’s just a common.cold folks!”

        📣🎙: “it’s the common.cold folks!

        👾 munch, munch, munch

      2. To ya’ll who keep a.preachin’:

        📣🎙: “it’s just the common.cold folks!

        (Blow.yer.nose & get$ back.to work, now!)

        The Heartbreaking Last Texts of a Hospital Worker on the Front Lines

        Michael Rothfeld, Jesse Drucker and William K. Rashbaum
        The New York Times / April 15, 2020

        NEW YORK — Lying in a hospital bed last month, Madhvi Aya understood what was happening to her.

        She had been a doctor in India, then trained to become a physician assistant after she immigrated to the United States. She had worked for a dozen years at Woodhull Medical Center, a public hospital in Brooklyn, where she could see the coronavirus tearing a merciless path through the city.

        Within days of her last shift as a caregiver, Aya became a patient. She had worked in Woodhull’s understaffed emergency room, taking medical histories, ordering tests and asking about symptoms. Now she had become infected.

        Aya, 61, was alone in a hospital, less than 2 miles from her husband and 18-year-old daughter on Long Island, who could not visit her. She did not have the solace of familiar colleagues; she had been admitted to a different facility nearer her home. In a text with her family, she described horrible chest pain from trying to get out of bed.

        “I have not improved the way should have been,” she wrote her husband, Raj, on March 23.

        As she grew sicker, her texts came less frequently and in short, sporadic bursts.

        Aya’s text messages and her family’s account of her final days reveal a woman who spent much of her life devoted to medicine before succumbing to the cruel and familiar arc of a patient with COVID-19. Her early mild symptoms and quarantine at home were followed by a rapidly escalating illness and long waits for care, until she died alone.

        “She was always there for us, whenever we wanted,” her husband said. But when she got sick, “no one was next to her,” he said

        Another Woodhull employee, a radiology clerk named Thomas Soto, died of the virus at the hospital last week, 12 days after his first symptoms. Soto, 59, worked there for decades and was close to retirement. “The only reason my dad pushed to work that extra year was to retire with full pension, and I lost him because of that,” Jonathan Soto, the older of Soto’s two sons, said through tears.

        A former hospital police officer, Herb A. Houchen, 35, returned to Woodhull as a COVID patient and also died. He had worked at Woodhull for more than five years and left behind an 11-year-old daughter.

        1. That is indeed a sad story mainly because of the fact that her family was prevented from being with her. It is also sad because TPTB are using this as a means of instilling fear.

          Tell us what you see. She is the woman on the left https://static01.nyt.com/images/2020/04/16/nyregion/16nyvirus-woodhull-1/00nyvirus-woodhull01-superJumbo-v2.jpg?quality=90&auto=webp

          Died with / Died from

          NY Times – the fish wrap of record. Their editorial staff should learn to code.

          1. To this day (4/15/2020), some folks (on the flat.earth) argue ferociously whether it was 6+ millions Jews that died in WWll or only 5+ millions.

            $ad.

          2. OK Boomer. Nice conflation there Hwy. I would have replied to you but replies don’t nest that deep. But seriously equating my statement to Holocaust denial is rich. You didn’t quite call me a NAZI…

            This is happening in real time for us all to see. Even you could see it if your nose wasn’t buried in Fake News hosted by NPCs. We don’t need to rely on accounts from WWII either. The models relied upon by the MSM are just that – ‘models’. Fauci has continued to revise his model predictions downward to the point that the model predictions are almost equal to the number of deaths from Influenza complications. The actual numbers are way below flu deaths. The BS is so deep in the US that the BBC actually pointed out that many deaths are miscategorized as CV-19 deaths. See CDC guidelines, hospitals are reimbursed at a higher rate for CV19 categorization of death, etc.

        2. As she grew sicker, her texts came less frequently and in short, sporadic bursts.

          Sad indeed, like the story of most every death ever. Does “texting” make this better or worse.

      3. ‘Professor Yitzhak Ben Israel of Tel Aviv University, who also serves on the research and development advisory board for Teva Pharmaceutical Industries, plotted the rates of new coronavirus infections of the U.S., U.K., Sweden, Italy, Israel, Switzerland, France, Germany, and Spain.

        You don’t know infection rates unless you test the entire population. Therefore, his entire premise is flawed due to a lack of information.

        1. Which, by the way, is why we need mass testing and antibody tests. We need to understand exactly how many people have/have had this thing. That information is greatly needed.

          1. Is testing everyone a good idea? Sure but so would just getting accurate tests and proving their accuracy with a large enough control group as a first step.

            Also you could just look at the actual numbers of deaths from 2019 March vs 2020 March and see the overall numbers are down. You could also look at Fauci’s continual revision of his hysterical projections downward. Do the massive conflicts of interest with Gates, Brix and Fauci bother you?

            And you could determine that the GD burden of proof is on the people destroying economies and peoples’ lives and not those questioning what is apparent.

          3. You’ve got a panty on your head, that’s all. I can relieve you of this echo chamber anytime you like. Or I like.

          4. “Does somebody slide meals to you under your bed? With a 6 foot stick maybe?”

            Since you can’t get omelettes or steaks under a door I recommend fried eggs and pizza.

      4. The rich countries are able to financially support older people and keep them alive longer, the asthmatics, the obese, etc., resulting in much larger cohorts who are vulnerable to these pandemics. How would they control these data across countries?

    2. “…begin $ome normalization of activitie$, the $ooner we will stop inflicting incalculable harm on our economy”

      Eye$ thought$ Global $ales of over.priced.$helter.$hacks.@ 1.86% loan$ was HB.B ll problemo.#.uno?

      Why stop that de$truction now?

      What you think Wall.$treet + Federal.Re$erve + thee.🍊.jesus & his apo$tles are gonna $uddenly : “$ee.thee.light!”?

      Eye$ knot: a “True.Believers” of that $cenario.

      But feel free to follow in their 👣’$ 🍷

    3. “The sooner we begin to take measured steps in the weeks ahead to start reopening the economy and begin some normalization of activities, the sooner we will stop inflicting incalculable harm on our economy and American households.”

      The high death rate is for older people. The economic harm is for working age people. I guess we’re going to find out whose parents got divorced back in the 1970s. Probably the people writing “cull the herd!” in the Wall Street Journal comments.

      On the other thing, this is sort of like the general strike that was coming eventually — except the PTB are frantically selling off America’s future to prevent the rest of us from taking the rich and their asset prices down with us.

      I wonder how people would answer this question. “You are living in something like poverty, with little ability to buy things, go out and do things, or travel. Aside from being able to go to work and visit and socialize by walking or bicycle and otherwise socialize, would you willing to live this way for five years if it meant the richest 1 percent had their wealth wiped out?” I’ll bet you’d get a lot of “yes.”

      1. I’ll bet you’d get a lot of “yes.”

        If the reason for it was that we were going to get the country back on sound financial footing it would be a “hell yes”. If it was just to make other people a little more miserable for a while without actually fixing anything, then no.

        1. No. We don’t all hate other generations. We don’t all want to live under our beds to make others lose something.

  7. According to a Market watch article Fannie Mae is forecasting home prices in 2020 will rise to $275,000 from $272,000 in 2019.

    🤔 HUH????
    Sorry but I ain’t buying it.
    Rational for said price rise you ask,
    Shortage of houses for sale.

    I am guessing lot of rental properties, AIRBNB AND 2nd homes end up on the market along with an increase in foreclosures.

  8. From Chicago Agent Magazine.
    “A downturn in the economy is something that has worried Redfin CEO Glenn Kelman for some time, something he addressed during a December 2018 GeekWire Summit. ‘This is a risky business, right? If the economy turns even slightly, you could be left holding a lot of houses on your books. Does that scare you?’ GeekWire co-founder John Cook asked Kelman at the event. ‘Do you remember Chevy Chase in Vacation, when he’s about to jump into the cold water, saying, ‘This is crazy?’ Kelman replied. ‘I think all of us getting into this business have that voice in our head, but we also have that chart in our face, which says that fortune favors the bold.’”

    – “Fools rush in where angels fear to tread.”

  9. ‘A deluge of loan defaults is expected once courts lift foreclosure moratoriums’

    Note they say courts. That’s because all these silly “you can’t exercise your contractual rights” so-called laws aren’t legal.

    3. Unfreakingbelievable. I can imagine the stampede heading for the border right now. “Viva Guatemala, Mexico, I mean America!!!”

      1. From what I have read in the Mexican media, they consider going to the US a death sentence. They think we (Americans) are all going to die.

    4. The Leftoids are perfectly welcome to take their own $1,200 Trump checks and donate them to a deserving illegal alien.

    5. “In addition to the $75 million state funding for the checks, Grantmakers Concerned with Immigrants and Refugees (GCIR), a network of foundations focused on immigration issues, committed to raising $50 million to support direct financial assistance to families of undocumented immigrants through the California Immigrants Resilience Fund.”

      https://www.youtube.com/watch?v=fOUilxJWm24

      2. Nice. I still sing this song every once in a while.
        What we need is a way to keep CA residents from moving to other states and spreading their poison.

        1. “What we need is a way to keep CA resident$ from moving to other $tates and $preading their poi$on.”

          Yer $tates is lovin’ Equity California whore$: = “$how me the monie$”, $old!

          Which makes yer “$pecial” $tate what? … “Long.Texa$.john$”

          Who$e the criminal with intent$?

          “Really officer, $he made me do her/him!”

      1. They do have a list of people who got those special “not valid for federal identification” driver’s licenses.

  11. I may wait a few weeks to buy gasoline, just in case declining oil prices finally trickle down to fuel prices.

      1. x3 dozen ethanol plant$ closed in the midwe$t.

        45 days ago, thee.🍊jesus called fer farmers to hurry up & buy$ lot$ of deere $600,000-800,000 tractor$ & lot$ more land.

        $ad, (iffin’ they li$ten & followed his commandment$.)

        Debt$.$ad.

        1. We’ve been through a lot of craters in the past 18 years, so it is quite a while in economic time.

          1. I’m seeing the word crater appear everywhere these days. It seems to be a very popular word to invoke.

        2. Obvious, ye is knot a 🌽🌽🌽🌽🌽🌽🌽🌽🌽 grower with a deere tractor$ purchased @ $800,000+ U$ dollar$.

          (“Dark” only applies to soil & “other.people” knot from yer farm-hood, or Baptist.)

  12. “The Financial Times
    Coronavirus
    Coronavirus latest: Daily US death toll hits new high of 2,492
    new 37 minutes ago”

    – 2,492/(28,354-2,492) = 9.6%
    daily increase

    – Doubling time at this daily rate of increase is 7 1/2 days

    1. “…the U.S. $tock market$ has barely gone down at all.”

      (Is Wall $treet getting ANY of the (0%) a$ in Zero%?, ANY of thee x$6+ Trillion$, ANY of thee “UNLIMITED!”?

      👀 👾🆘 🌊 💰💲💰💲💰💲💰💲💰💲💰💲💉📈↗📈↗📈↗📈↗📈↗📈⬆📈🎉🎡🎪🃏♻

    2. The rally is already underway. Unleash your FOMO and join the thunderous bull stampede before it’s too late!

      Opinion: The U.S. stock market may enjoy the biggest rally ever when the pandemic is over
      Published: April 15, 2020 at 7:06 p.m. ET
      By Nigam Arora
      There are seven reasons for that, including record federal and central-bank stimulus, unattractive investment alternatives such as bonds, and a reconfiguration of supply chains that will unleash a torrent of capital spending
      …

      1. The U.S. stock market may enjoy the biggest rally ever when the pandemic is over

        Maybe. But what I predict is a “buy the rumor, sell the news” crash once people realize how few problems are solved even when we can all work normally again.

  14. Coumo giving away ventilators to other states?

    Just a couple of days ago, he was screaming for moar, moar and moar…

    WTF is with these democratic idiots?

    1. “You pick the 26,000 people who are going to die because you only sent 400 ventilators,”

      New York Gov. Andrew Cuomo
      03/24/2020

      1. The best of that quote is the math. He asked for 30K ventilators, he got 400. Cuomo math 30,000 – 400= 26,000

    2. WTF is with these

      Settled SCIENCE changes by the hour. It’s OK that he screamed for help and later offers help.

      Appears to me that a “ventilator” without other extreme measures is basically a death sentence anyway.

      1. A COVID-19 case bad enough to require a ventilator is a game of Russian roulette with half the chambers loaded.

  16. Tucker Carlson had NJ Gov shitting all over himself while backpedalling when confronted with his own words, “I didn’t consider the bill of rights” when ordering the quarantine.

    This quarantine BS is gonna blow up soon and these governors are gonna look like cartoon characters.

    1. Coronavirus discussion with Dr. Paul Offit

      Paul Offit is a pediatrician and an expert on vaccines, immunology, and virology. Offit is also the director of the Vaccine Education Center at The Children’s Hospital of Philadelphia. In this video, we discuss the current Coronavirus (covid-19) outbreak.

  18. How does this strategy work? Don’t buy stocks when they are on sale. Wait until stocks are more expensive, then buy?

    Michael Sincere’s Long-Term Trader
    Opinion: It’s safe to buy stocks when the S&P 500 is above this level, but now is not the time
    Published: April 15, 2020 at 8:48 p.m. ET
    By Michael Sincere
    7 rules for investing in a bear market

    Referenced Symbols
    SPX -2.20%

    I’ve been getting a flood of emails from acquaintances eager to buy digital currencies, calendar spreads (a complex options strategy), foreign currencies, penny stocks, and any company that claims to cure the virus.

    In a bear market environment, when investors are understandably nervous, get-rich-quick investments will be peddled on the internet or by word-or-mouth. During such uncertainty, the last thing you want to do is dabble in any type of shaky and murky investment, especially if you have never done so before. To paraphrase Warren Buffett, never invest in anything you don’t understand.
    …

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