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If They’re Not Getting Rent, They Can’t Pay Their Mortgage So They’re Facing Foreclosure

A report from WSMV in Tennessee. “A Nashville couple said they were forced into forbearance by tenants they believe are taking advantage of the pandemic, going months without paying rent. No answer and still no rent Wednesday when Girish Rachakonda stopped by his investment property in Bellevue. ‘They’re not responding, they’re not paying the rent, and they’re not cooperating, and they’re taking advantage,’ he said. ‘It’s very frustrating, and also, it’s scary.'”

“Rachakonda and his wife told News4 they haven’t seen a rent check from their tenants in five months. ‘They simply said ‘We are not going to pay the rent.’ I said, ‘Why?’ And they showed the CDC notice. Now, it is going to affect my credit score, too.'”

From WFFT on Indiana. “Fort Wayne renters and landlords alike are feeling the financial impact of the COVID-19 pandemic. Indiana legal services attorney Andrew Thomas says for landlords, ‘these are small businesses. They’re trying to make a living and if they’re not getting rent, they can’t pay their mortgage and so they’re facing foreclosure.'”

From KQED in California. “Jocelyn Foreman was full of nervous energy and dread. It was a crisp morning in early March. She arrived at the Pleasant Hill Community Center to find a handful of men and women in a semicircle outside the sandstone-colored building, clutching folders and holding cellphones. They were there for a foreclosure auction, poised to bid on the house that Foreman rents: a single-story, 1,500-square-foot tract home in Pinole. ‘The bidding finally stopped at $600,000. Foreman’s stomach dropped. ‘And I just thought, ‘Oh my God.’”

“Foreman had hoped she would be able to buy the house and continue living there thanks to a new state law, signed by Gov. Gavin Newsom last fall, that is designed to prevent pandemic profiteering — and give tenants like her a path to homeownership. But the law, which allows tenants and nonprofits a 45-day window to match any bid made at a foreclosure auction, provides no money to fund the purchases.”

“Before Foreman moved in, the house in Pinole had been in the same family for more than 30 years. Reginald Mayfield, a longshoreman for 51 years, bought the house in 1984 and spent his retirement years there. In the few years before his death in 2018, at age 82, he had planned a major rehab of the 1970s home, and took out a loan on the house. It was a project he planned to complete with his daughter, Rochelle Mayfield.”

“Mayfield had been having a hard time making the mortgage payments on both the Pinole home and a house in Richmond she inherited from her mother, where she also lives.”

From Habitat Magazine on New York. “Apartment sales in Manhattan are out of the red compared to year-ago numbers, according to multiple brokerage surveys. Apartments are still nearly 10% cheaper than they were at the beginning of 2020, according to Elliman’s report. The average sales price during the quarter dropped to $1.7 million from $1.9 million for the same period last year. Discounts were even steeper on the higher end. For the luxury market, co-op and condo sale prices dropped by more than 15% to $6.5 million over the course of 2020. But most of the activity took place below the $2 million mark.”

From Boston.com in Massachusetts. “It wasn’t that long ago that city condos garnered bidding wars when they hit the market and apartments were associated with hefty broker fees. But monthly rents are falling by hundreds, if not thousands, of dollars in some of Boston’s toniest residential developments due to pandemic migratory trends. Developers are even offering concessions like months of free rent or waiving fees for pets.”

“Rents averaged around $3,700 for one-bedroom apartments at 100 Pier 4 a little more than a year ago, according to YouGotListings data. But that average has fallen to around $3,200 in recent weeks. Potential renters were even offered $1,500 off on some units or, if they had good credit, half their security deposit waived.”

“It’s not unheard of to see luxury apartments that would have fetched rents north of $20,000 per month pre-pandemic now going for closer to $13,000, Eain Williams, a sales and marketing specialist with Compass said — still pricey but also a major drop.”

“‘Obviously, the world was on pause for the last year, but I think this is developers in the Seaport ensuring they can get people back,’ said Olivia Canada, who moved into a 16th-floor studio at the VIA in March. Canada’s monthly rent for her 471-square-foot studio is about $800 less than what similar studios rented for when the VIA opened in 2017. She even scored 2½ months of free rent, meaning her first rent check isn’t even due until June.”

From KTVI. “Video of an abandoned Missouri resort community is going viral again and this time law enforcement has a warning for people planning to visit. Construction on the Indian Ridge Resort near Branson started in 2006. The ambitious $1.6 billion dollar project included plans for a water park, a hotel, a marina, shopping, condos, and large vacation homes. The 900-acre project is located on Table Rock Lake.”

“Development of Indian Ridge Resort ended prematurely, however, after the Great Recession of 2008. Four people plead guilty to real estate fraud in 2015 for submitting fraudulent invoices to one of three banks they borrowed money from to build the mini mansions. Some of the structures have been demolished but many still sit. Some of the grand homes appear nearly finished, but they have all been left to slowly fall apart.”

“The construction project, which is visible from a nearby highway and is also the subject of social media posts and online videos, has drawn people curious about the area to share pictures and videos of the failed development. On Monday, the Stone County Sheriff’s Office posted this warning to potential tourists: ‘A recent Tik-Tok video went viral about the Indian Ridge development that went bankrupt. This has caused this location off of 76 Highway to become a tourist attraction. THIS IS PRIVATE PROPERTY AND YOU CAN BE CITED FOR TRESPASSING!'”

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This Post Has 98 Comments

  1. ‘Canada’s monthly rent for her 471-square-foot studio is about $800 less than what similar studios rented for when the VIA opened in 2017. She even scored 2½ months of free rent, meaning her first rent check isn’t even due until June’

    That’s the spirit Olivia!

  2. ‘“Mayfield had been having a hard time making the mortgage payments on both the Pinole home and a house in Richmond she inherited from her mother, where she also lives’

    Not one but two shanties! Should be rolling in that sweet equity. Wa happened Thornberg?

    1. BTW, this is a typical CA media story. Oh, the poor renters, Ooo look prices are soooo HIGH! Give it up a$$hats, you don’t care.

      ‘he would be able to buy the house and continue living there thanks to a new state law, signed by Gov. Gavin Newsom last fal…But the law, which allows tenants and nonprofits a 45-day window to match any bid made at a foreclosure auction, provides no money to fund the purchases’

      No money?

      1. provides no money

        I was going to comment on that too, Ben. I really really want to swear about this. But I guess everyone has the same opinion.

        1. KQED linked to previous report describing the new law. I actually like this law. It addresses an issue that we discussed waaaaaay back in 2009: that houses were being bundled for sale to Blackrock and Am Homes 4 Rent, while unfairly locking out the public from buying at crater prices. The new law:

          … bars sellers of foreclosed homes from bundling them at auction for sale to a single buyer. In addition, it will allow tenants, families, local governments, affordable housing nonprofits and community land trusts 45 days to beat the best auction bid to buy the property.

          I went to the text of the law to confirm. Basically, the trustee (the bank), has to notify a tenant that the house will be sold and inform the tenant of the opportunity to match the auction offer. However, the auction offer can be matched by ANY prospective owner-occupant — if they know about it. The tenant just gets the benefit of being specifically notified.

          But this KQED sob story purposely glosses over that. The news article talks only about the evil corporation stealing the house from Black Grandma, and Black Grandma looking for $600K cheese from a non-profit. But what about other “prospective owner occupants”? If that $600K house had been advertised on Zillow, I’m sure an outside couple or family would beat that $600K bid within the 45-day time frame to win the house. Sure, the Black Grandma wouldn’t get the house, but the corporation wouldn’t get the house either, which still meets the intent of the law. Get some boxes, Grandma, you’ll probably lose any court case. But, then again, this is CA…

          If I were a California realtor, I’d be snooping out these foreclosures and showing them to my buyers. The way the law is written, there would be no bidding war, not even any squirrel-feeding. The buyer just needs to beat the auction offer by a dollar and boom he wins the house.

          1. “If I were a California realtor”

            They have alot more to worry about than showing houses.

          2. “…it will allow tenants, families, local governments, affordable housing nonprofits and community land trusts 45 days to beat the best auction bid to buy the property.”

            Loser’s curse?

          3. Not sure if it’s a winner’s curse or a loser’s curse, but the house would be a primary residence. And if that FB can’t keep the payments, the house would foreclose and again be offered again to owner-occupiers. All that’s important is that the house isn’t snapped up for slummy rental, like Blackrock/AmericanHomes4Rent did in 2009.

            For this particular house, an individual buyer might get a fair price. The corporation who bid $600K was a mass renoflipper, so it’s clear that they think they could do a quick reno and sell the house for $750K. An individual buyer could bid $601K and win the house for relatively cheap, live with a 70s kitchen, and avoid the flippers’ premium.

            ————–
            *I realize that $600K is too much in an absolute sense, but comparatively it might not be that bad. And you know, it’s the land. 🤨

    2. Bestowing the gift of perpetual debt on your offspring…. but but but!

      Some mother she was.

    3. Not one but two shanties!

      I guess she never thought of selling one to pay off the other. Nope, she wanted to play real estate tycoon.

      1. Rochelle’s job and Grandma Renter’s $2100/mo together were not enough to make the payments on the two “inherited” houses. At least one of them should have been paid off by now.
        I’d guess that both mother and father serial refi’d their respective homes for every last penny before passing away. (The article has a photo of the kitchen. Obviously no re-fi money was used for rehab). Rochelle might have been net underwater and chose to jingle-mail one of the houses. I wonder if the banks will pursue any deficiency against her. IIUC, Cali is a non-recourse state, but only for first mortgages. Refi’s are recourse.(?)

        1. “I’d guess that both mother and father serial refi’d their respective homes for every last penny before passing away.”

          FWIW, the cash-out refi [is] the economy in California.

  4. “Foreman had hoped she would be able to buy the house and continue living there thanks to a new state law, signed by Gov. Gavin Newsom last fall, that is designed to prevent pandemic profiteering — and give tenants like her a path to homeownership. But the law, which allows tenants and nonprofits a 45-day window to match any bid made at a foreclosure auction, provides no money to fund the purchases.”

    So the guvment is supposed to buy it for you also? If only it sold for 1 dollar

    1. I’m gonna guess they buyers wanted the guberment to finance the purchase., and maybe forgive the loan later.

  5. ‘They’re trying to make a living and if they’re not getting rent, they can’t pay their mortgage and so they’re facing foreclosure’

    Technically they can make payments Andy. But they got NO MONEY!

  6. ‘Four people plead guilty to real estate fraud in 2015 for submitting fraudulent invoices to one of three banks they borrowed money from’

    Fraud? In 2015? Where’s jingle mail?

  7. Debt donkeys who overextended themselves to buyshacks they couldn’t afford are now getting socked with higher property taxes, which are set to soar even higher as our Bolshevik overlords lay out their “once in a generation” spending plans.

    U.S. Property Taxes Jump Most in Four Years With Sun Belt Catching Up

    https://www.msn.com/en-us/money/realestate/us-property-taxes-jump-most-in-four-years-with-sun-belt-catching-up/ar-BB1fp1u1

    (Bloomberg) — U. S. property taxes increased at the fastest pace for four years in 2020, with some of the steepest increases coming in traditionally low-cost Sun Belt states, according to figures from ATTOM Data Solutions.

    The average tax on a single-family home climbed 4.4% to $3,719, double the rate of increase in 2019, according to the real estate

    2. traditionally low-cost Sun Belt states

      You mean traditionally low-cost RED states which are being taken over by liberals. Really, the best way to avoid property taxes is to live in a cheap property. Then the tax % doesn’t matter as much.

      1. Exactly. Even owning in a housing bubble is not helpful at all. Just means prop taxes ratchet

  10. From KTVI. “Video of an abandoned Missouri resort community is going viral again and this time law enforcement has a warning for people planning to visit.

    Thanks I dont plan on visiting. I plan on staying.

    1. hanks I dont plan on visiting. I plan on staying.

      Sounds good to me. And please take as many vibrants with you as possible. Maybe you can teach them to grow their own food, since the grocery stores will be abandoned and empty.

        1. Maybe these big box stores loaded up on bubble priced futures a couple of months back and took delivery.

    1. “incredibly popular”

      He is a coward like Tim Pool who will never publicly admit that the 2020 election was stolen.

    2. “In September, an unspecified number of Spotify employees reportedly threatened a strike against the company over what they saw as problematic statements made on Rogan’s podcast by him and his guests.”

      These cucks can’t live with free speech.

  16. In theory capitalism with regulation against Monopolies would create the need for Companies to be competitive in giving the best service and competitive price to the consumer. Monopolies create price fixing rigged markets that funnel unproductive looting of wealth to the Monopolies.

    Outsourcing manufacturing and jobs to Foreign Countries was a way to Monopolize competition and gut US ability to compete. It made China one big Monopoly for the manufacturing of goods.

    Big Pharmacy is the biggest lobbyist to the Washington DC Swamp.

    Now you have a bunch of Globalist Monopolies that have taken over the US and have corrupted Government and all Government agencies. The Monopolies are controlling the Media and censoring all counter news. The Medical Industry is looting the tax coffers on a fake Pandemic, and taking liberty and trying to force untested vaccines ongoingly, over this fraud of declaring a health emergency, using fake PCR tests and false recordings on deaths to fake a Pandemic.

    All the Big Monopolies are planning to impose Vaccine Passports in Private Industry so the populations can’t engage in commerce unless populations comply with forced compliance on vaccines, even if a Government mandate to comply is overturned on Constitutional grounds.

    This Oligarchy of Monopolies that took over Government in the US , that exercise power for their own self serving gain , are a handful of power hungry billionaires t,hat control most major industries and now dominate major industries and control politics, the media, and are responsible for the fraudulent narratives.

    Its a form of insurrection and take over and at least for 25 years they have ibeen in the process of corrupting Government and Government agencies.

    They use communism, false racism, they use fraud , they rig markets, they create unsusttainable debt, they are in conspiracy with foreign enemies to be the new dictators of the World. They just rigged the last election to put their deranged Puppets in power. They don’t care about laws, with them its about how to get around the law.

    If you look at their overall agendas of control of the populations , looting of populations, dictating resources to populations, rigged markets, and forced Medical Tyranny and harm, its a take over by Entities not interested in life , liberty and the pursuit of happiness for Citizens.
    They don’t care about destroying small business, or injecting people with experimental vaccines , or discrimination against segments of the population by false narratives like the Whites are deserving to go to camps because they are racist.

    They can’t prove their fake narratives, but if they monopolize the narratives and censor all counter data , they win with all forms of fraud they use to divide and conquer and over take.

    And they will say that they have the right to deny you food or commerce if you don’t comply with putting a jab in your body that might injure or kill you., just as they are asserting right to censor any counter data or information against their fake narratives.

    Very interesting how the oppression of rights came in the form of a invisible enemy call Covid where the evidence shows that a World shut down wasn’t justified , and mass experimental vaccinations weren’t either under this fake Pandemic where the PCR tests are a fraud. These Entities are also attacking me as a member of the White race, threatening discrimination, taking constitutional rights, even imprison in camps , abuse and canceling of rights , claiming I’m privileged and racist just because I’m White.
    When you look at these fraudulent Hitler like Entities that have seized control right now , and Government has become their Pawn , they need to be defeated just as Hitler needed to be stopped in his quest to take over the World. Make no mistake that these Entities don’t want to dictate your life and put a boot to your neck.

  17. I accidentally sent that post right above me, and it was just thoughts I was writing down that I didn’t know if I was going to send or not.

    My point is if you deny someone commerce, such as services or food, unless they take a vaccine, than its no different than threatening their life if they don’t comply. Maybe a person could go out and hunt for their food, but they are threatening to take the gun also.

    1. “unless they take a vaccine”

      A mass vaccination site in Denver shut down mid-day yesterday because so many people were having adverse reactions.

      No deaths (yet) from this…

          1. My son had a rough go with J&J. Could have been due in part to his having had COVID-19 last fall…

          2. What side effects did he have? Plus, if he had COVID last fall and his immune system is reacting strongly 7 months later, then I think immunity is going to last for quite a while, unlike flu.

          3. I think immunity is going to last for quite a while

            https://www.americasfrontlinedoctors.com/exclusive-former-pfizer-vp-to-aflds-entirely-possible-this-will-be-used-for-massive-scale-depopulation/

            In a talk you gave four months ago, you said

            “The most likely duration of immunity to a respiratory virus like SARS CoV-2 is multiple years. Why do I say that? We actually have the data for a virus that swept through parts of the world seventeen years ago called SARS, and remember SARS CoV-2 is 80% similar to SARS, so I think that’s the best comparison that anyone can provide.

            “The evidence is clear: These very clever cellular immunologists studied all the people they could get hold of who had survived SARS 17 years ago. They took a blood sample, and they tested whether they responded or not to the original SARS and they all did; they all had perfectly normal, robust T cell memory. They were actually also protected against SARS CoV-2, because they’re so similar; it’s cross immunity.

            “So, I would say the best data that exists is that immunity should be robust for at least 17 years. I think it’s entirely possible that it is lifelong. The style of the responses of these people’s T cells were the same as if you’ve been vaccinated and then you come back years later to see if that immunity has been retained. So I think the evidence is really strong that the duration of immunity will be multiple years, and possibly lifelong.”

      2. Whenever anyone asks if you’ve been vaccinated, tell them you’re waiting for the vaccines to no longer be classified as experimental.

        1. no longer be classified as experimental

          And the makers are no longer immune from liability.

      3. A mass vaccination site in Denver shut down mid-day yesterday

        Something similar happened in Raleigh, NC

      4. In Denver, 11 people out of 640 had nausea and dizziness. That sounds roughly consistent among all the vaccines. The site in Raleigh hasn’t revealed yet what or how many. 😕 In MD, vax opens up to everybody on Monday. I think I’ll give it another week. I’ll just load up on Pepto and salt water.

        I did read that people who had adverse reactions to the first P/M shots may have asymptomatic COVID earlier. To them, the first dose was like a second dose. Wonder if that’s happening with J&J.

        1. “Wonder if that’s happening”

          Isn’t that the nature of science, perpetual wondering? There is no settled science, unless it’s The Science™ as decreed by Lord Fauci.

          1. Perpetual wondering is the nature of true science. If you’re interested in a paycheck, best to learn truthy science.

          2. Oh come on, they are suppressing the info on the number of deaths so far as well as adverse reactions, from the vaccines. I am mortified that they are going to give this junk vaccine to children. They also don’t know what the long term effects of these vaccines are.
            The evidence shows that they planned this Pandemic years before the claim of a Pandemic by a virus called Covid19. Their tests for the disease were inaccurate and a big old fraud as well as the death count from the scam.
            These goons that unleashed this scam on humanity are criminal , and you want to take a vaccine from these money grubbing pigs who are liars and a menace to Society who want to take your freedoms and money , and maybe even your health or life. Oh, and they are just so above board that they have to censor all facts and news and dispute to their outrageous Scam on the people of the World of a unjustified Pandemic.

            No way , the fact that their tests are a fraud and they test non sick people so they could up the numbers are not Entities that are worthy of taking soup from , let along a vaccine.

            But somehow people think you can be highly fraudulent about how you even determine the disease by a fraudulent test, but your pure as the driven snow about a vaccine for the good of humanity to save lives. Nope, its all bad because its based on fraud , fear mongering, profit and forced control of people. To bad they corrupted government so they could pull off this crime against humanity.

          3. Science always leaves room for doubt or a better explanation.

            By contrast, religion and politics lay claim to the absolute, immutable truth, regardless of any amount of factual evidence to the contrary.

            I’ll take my scientific skepticism and enjoy it, thank you.

        2. happening with J&J

          I had the J&J shot on Monday. Absolutely no side effects. No sore spot where they poked me.

          I am still quite skeptical, but accepted the risks to eliminate foreseeable obstacles to crossing the border into Canadia to see my GF. It’s been 13 months and counting. The Ontarioans are going absolutely idiopathic at the moment with a new four week lockdown. This as their deaths “Covid Associated” are averaging a whopping 10 per day out of a population of 14 million. Looking like a solo sail for me again this summer. We’ll know more in a month or two, haha.

          At the clinic I was kind of disapointed that the consent form asked if I was allergic to polyethylene glycol. Good Grief, that is antifreeze and poison. I’m not allowed to use it on my boat as antifreeze because some of it might get into the water and kill the fish. I’m relieved to find that’s only used in the mRNA experimental two shot drugs and not in the J&J.

          Other observations of note: The chairs in the waiting room were only two feet apart. The attendants did not say anyone’s name out loud, only their queue number. No ID was asked for whatsoever. All the other eager shot takers were, to my eyes and ears, from places south of the border, except for one. This doesn’t make me uncomfortable in the least, and I know my clinic caters to Spanish speakers, but I sort of felt like I was in the morning lineup for possible work at the landscaper’s again like when I was a teenager. Back then my Spanish was much better. God Bless them, if the shot actually works. No money or insurance was asked for. The free shot is only legally for citizens. In this case I think it is good that nobody was checking.

          2. “I had the J&J shot on Monday. Absolutely no side effects. No sore spot where they poked me.”

            No side effects over here other than a sore injection site a few hours later. Drank a dark craft beer that evening that stayed down, tasted great, and I had a woody the following morning, so all critical systems are good to go. Pfizer #2 is next Saturday the 17th back out in the middle of nowhere.

        1. Flu spreads by touching a contaminated surface and then touching your nose or mouth. The masks prevent you from touching your nose or mouth. What’s not adding up?

          1. Sorry, cutie pie. Nice try, though…

            How Flu Spreads

            Person to Person

            People with flu can spread it to others up to about 6 feet away. Most experts think that flu viruses spread mainly by droplets made when people with flu cough, sneeze or talk. These droplets can land in the mouths or noses of people who are nearby or possibly be inhaled into the lungs. Less often, a person might get flu by touching a surface or object that has flu virus on it and then touching their own mouth, nose, or possibly their eyes.

          3. So you come out of the grocery store, get in your car, take off your mask and rub your nose

          4. What’s not adding up?

            Like the director at the art gallery where my stuff is said: “There was no flu because we wore face masks. I have no idea how I got Covid cause I wore my face mask!”

            I expect you’ll be wearing a face diaper the rest of your life. Hope not.

          5. I touch Safeway’s checkout terminal with my index finger’s knuckle the enter my phone number. The Walmart app has my info, so no contact. And no handling of cash either. I have hand sanitizer in my car. The last several year’s flu bugs took weeks to slog through. I’ll wear the mask!

          6. The outside surface of the mask is contaminated with virus particles. If you touch the mask with your hands while you are removing it, then you just transferred the virus particles to your fingers.

            I believe the proper procedure in a clinical setting for removing your mask (preferably with gloved hands) is to take it off using the elastic bands and discarding the mask and gloves. Then washing your hands. Masks aren’t to be reused over and over–they need to be replaced after one use and handled properly.

            And if you aren’t using a properly rated medical mask (e.g., cloth mask), then the mask isn’t doing anything except virtue signaling.

            If you’re wearing a medical mask, the assumption is that there are infectious agents floating around in the air. So you have to assume that the outside of the mask is contaminated and handle it with the proper precautions. Most people don’t have the proper training for using a mask, that’s obvious when you see how the general public is using them.

        2. Trust me 46&2, the fact that you notice evidence of their fraud means your brain is working and its obvious they claimed regular flu deaths were Covid19 . The hospitals and Doctors were given great money incentives to claim that almost every respiratory ailment was Covid 19 , confirmed by a inaccurate test. This is the biggest fraud in history maybe, so don’t doubt your instincts that things just don’t add up.

        3. 46&2, trust you instincts that things are not adding up. Hopefully it will come out just how fraudulent this scam was.

        4. Not weird. We now know that if everyone hides out at home in bed for the duration of the flu season, only coming out on occasion to buy groceries while double-masked, then flu gains no traction.

          Flu is far less contagious than COVID-19 is.

          1. Flu has an r-naught value of 1.4. That is, one sick person spreads flu to 1.4 people. The r-naught for COVID hasn’t been pinned down yet, mainly because people slapped on the masks pretty quickly. But without intervention, an early estimate in China was something like 4. The more contagious UK variant might be something like 6. The most contagious is measles, at an r-naught of 14.

          2. So lock downs and masks eliminated the regular flu, but a inaccurate covid test that can’t determine what its picking up confirms the flu is irradiated, because all the cases where Covid 19. And people who weren’t sick were testing positive, but those were the super spreader spreading Covid, but not the regular flu.
            The Covid test isn’t a test like taking a sample of the blood and finding the culprit , than isolating it as different than another disease than proving this bug is the one causing the outbreak.
            The Covid test picks up anything that registered after they spin this machine , and it can even pick up proteins the body naturally has. The guy who invented the machine even said it should never be used for diagnostic testing.

            And the fact that the death stats in US for 2020 does not show that a extra 400 thousand people died from a new Pandemic , but pretty similar death counts from respiratory ailments from prior non Pandemic years, maybe 15 thousand more at best. The 15 thousand more can be explained in a number of way. Suffice to say that ventilator where not as life saving as they had hoped . In fact , I know of a young guy who got a severe case of Covid and his Doc told him he wasn’t going to put him on the ventilator because it might kill him, and the guy survived whatever he was suffering from.

            My point is for someone to say the flu disappeared, and the deaths were caused by Covid now, where no confirmation of this is offered , and a test that picks up everything is not the isolated culprit under a microscope that’s required in real Science.

    2. Note that concrete retains heat for several hours after sunset, and it should be included in their standard of living index calculation.

  19. “Mayfield had been having a hard time making the mortgage payments on both the Pinole home and a house in Richmond she inherited from her mother, where she also lives.”

    It’s strange to imagine living in two places with two mortgages. What’s the point?

    And how do you go from inheriting a property to having a mortgage payment on it?

    All told, this is a bizarre situation…

    1. inheriting a property to having a mortgage payment on it?

      If the property is encumbered with a mortgage, you inherit the mortgage too. The bank doesn’t care whose name is on it so long as it gets paid. I kept the mortgage for my mom’s house in her name for 4 years so that it wouldn’t be considered in my mortgage application.

    2. And how do you go from inheriting a property to having a mortgage payment on it?

      Maybe the property still had a mortgage on it, and rather than liquidate it she chose to refi into her name?

    3. “And how do you go from inheriting a property to having a mortgage payment on it?”

      Come see me and I will gladly show you how it can be done. Bring with you solid proof that you possess marketable body parts.

    2. What exactly are the “Raycis Bills?” Having to show ID to vote?

      If that is the case, then Mexico is the most raycis place in the world, because you need a special voter ID to vote, and they have your picture on file at the polling station. Also, no mail in ballots in Mexico. Son muy racistas los Mexicanos.

  22. Are you worried that your SPACs may soon go SPLAT (Sux Pretending Losses Are Temporary)?

    1. The Financial Times
      Special purpose acquisition companies
      Spac boom under threat as deal funding dries up
      Hundreds of blank-cheque companies face uncertainty after investors balk at high valuations
      New York Stock Exchange building
      Almost 500 Spacs are yet to complete an acquisition
      Ortenca Aliaj and Aziza Kasumov in New York 3 hours ago

      A crucial source of funding for blank-cheque company deals is drying up, pointing to a slowdown for one of Wall Street’s hottest products after a record-breaking quarter.

      Advisers to special purpose acquisition companies, which float on the stock market and then go hunting for a company to buy, say they are struggling to find so-called Pipe financing to complete their planned acquisitions. Pipe is short for private investment in public equity.

      Institutional investors such as Fidelity and Wellington Management have ploughed billions of dollars into Pipe deals since the Spac boom emerged last year, providing a route to the public markets for businesses ranging from established software and entertainment companies to speculative developers of flying taxis and electric vehicle technology.

      But people involved in arranging the deals say Pipe investors are overwhelmed by the sheer volume of transactions and put off by rising valuations.

      “There is a lot of indigestion,” said one senior bank executive. “The pendulum has swung to where if you’re in the market with a Pipe right now, it’s going to be really hard and painful. A Spac goes back into the ocean if you can’t get a Pipe done.”

      Spacs raise money when they first list on the stock market but they typically require more capital to fund their acquisition. Large institutional investors also act as a form of validation of the target company’s business prospects and its valuation.

      There have been 117 deals announced this year, but the growing backlog in Pipes could prove to be a big roadblock for the 497 blank-cheque companies that are still looking for a deal, according to Refinitiv data.

      Only about 25 per cent of Spacs listed since 2019 have completed deals so far. Sponsors typically have two years to complete a merger, otherwise they have to return the capital they raised to investors.
      …

  23. Insolvent Canadians won’t be in the market for overpriced shacks.

    53% of Canadians on the brink of insolvency: MNP survey

    https://www.bnnbloomberg.ca/53-of-canadians-within-200-a-month-of-insolvency-mnp-1.1587379#.YG75o-RgfzA.twitter

    The party is over.

    A new survey by MNP Ltd. has found that 53 per cent of respondents said they are $200 or less away from not being able to meet all of their monthly bills and debt obligations. The number is alarming as it marks a five-year high in the agency’s consumer debt index and marks a 10-point jump from a December survey.

    This number includes the 30 per cent who said they are already insolvent, with no money left over at the end of the month.

  24. Oh dear….

    China’s Record Surge of Defaults Driven By Property Developers

    https://www.bloomberg.com/news/articles/2021-04-09/china-s-record-surge-of-defaults-driven-by-property-developers?sref=ibr3A0ff

    Property developers are propelling a record wave of China corporate bond defaults this year, as Beijing moves to clamp down on borrowing in the debt-laded sector.

    Real estate firms made up 27% of last quarter’s record $15.1 billion of missed payments on onshore and offshore bonds, according to data compiled by Bloomberg. Chinese companies overall defaulted on 74.75 billion yuan ($11.4 billion) of local notes during the first three months of 2021, more than double the old record set a year earlier, while defaults nearly tripled to $3.7 billion for offshore bonds.

  27. All dictorships go for taking the guns before they take over. Tearing down the prior culture is also necessary for these despots ,as well as demoralizing , destabilizing, tearing down statues, etc.

    Its mindblowing how much Medical Tyranny can be used to accomplish the control of populations. The Pandemic ,with all the spin on we will never be normal again ,is a attempt to normalize freedoms taken , and force compliance with any dictate under the illusion of Medical necessity.
    You don’t lock down the Globe over a disease that has a survival rate of 99.8% and mostly affects very old people who have co morbidities. It was common for years actually for very old people in nursing homes to die from respiratory failure, and they never cared before to protect these people in last stages of life from germs or flu. No doubt people in nursing homes aren’t getting Sun either.

    Also every year you have younger people who die from respiratory failure due to immune function problems or co morbidities, and countless deaths occurs from side effects from Pharmacy meds prescribed , that Medical industry doesn’t like to talk about. But we have all seen when they take a drug off the market and the attorneys come out in droves for class actions. Pharmacy ads even disclose possible side effects, but some how people ignore the warning and think it can’t happen to them, and the benefit of the drug outweighs the risk of the side effects disclosed.

    Also , the drugs are never a cure, but rather you have to take the drug long term week in and week out . I’m a give me the cure type of person . I’m not talking about drugs that are actually required to extend life or the person would die if they didn’t take the drug long term.
    The problem with the mysterious world of medicine is that its a product that the layman has to trust the remedy when they are suffering from something . Its a very vulnerable position to be in when you have some ache or pain or symptoms of something you go to the Doctor for.

    Interesting one time in my youth I started getting a bunch of symptoms. I went to the Doctor, who was honest, and he told me I was dehydrated. Water was my solution.
    Anyway , Medical Tyranny by a Monopoly isn’t my idea of a dictorship I want to comply with unless you had something killing say 50 percent of the people and they actually had the remedy for such a outbreak. I’m thinking something like the Black Plague, which wasn’t a flu but it was a bacterial spread by rats bitten by fleas they say.

  28. Also , if you look at a lot of the plagues going back centuries, they had no idea what was causing them . Often times they thought demons where causing the deaths .
    A big change came with modern day plumbing and clean water as to the elimination of disease.

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