Coronavirus in DFW - News & Discussion (Dallas, Denton: apartment complex, rental)

[CDContribuitor]

One of the aspects that we need to focus on, when we get back to opening our businesses, is the cleaning of surfaces at public places, since it has been a proven mode of community spread. This has to be a constant and consistently followed.

We need to focus on standard guidelines coming from CDC and state and local officials for cleanliness that needs to be followed by everybody involved -

- Planes (tray tables, seat pockets) - both by the cleaning crew and the passengers. (I can say this with absolute certainty that planes were one of the major spreaders of the virus for almost 3 months before we grounded most of them). Please see this article to see what I am talking about - https://www.travelandleisure.com/tra...atback-pockets

- Airports (Common areas and touch-points within the airports)

- Subway Trains/Metro (hand rails, seats, etc.)

- Restaurants, movie theaters

I am personally planning to wear gloves and cloth masks/scarfs (home manufactured) until I get a vaccine for this virus.

[Ralph_Kirk]

Originally Posted by CDContribuitor

I am personally planning to wear gloves and cloth masks/scarfs (home manufactured) until I get a vaccine for this virus.

I can't see any other way of operating from that myself.

[Capitalprophets]

Havoc caused by CV is now affecting the mortgage industry which is going to have a direct impact for people looking for new loans or trying to refinance.


https://www.youtube.com/watch?v=bbdSEJCibe8

[biafra4life]

Originally Posted by Sunbather

Agreed. Now let's just hope people don't jump the gun to start 'cheating' the distancing limitations as the numbers go down and they feel more 'safe'.

HA! People are cheating it now (see pastor in Louisiana, folks up in Idaho, etc). You can expect that once the restrictions are lifted, a substantial segment of society are going to go apesht, which will probably trigger round two of this for the rest of us.

[Sunbather]

Originally Posted by biafra4life

HA! People are cheating it now (see pastor in Louisiana, folks up in Idaho, etc). You can expect that once the restrictions are lifted, a substantial segment of society are going to go apesht, which will probably trigger round two of this for the rest of us.

Oh I totally agree with you. And im fully aware of how people are cheating it now. What I meant more was that there is a subset of people who are unwillingly participating in the distancing for now in the short term. Before we even officially start to open things open way down the line, some of these people that actually are participating at the moment are going to start getting anxious when the numbers go down.

One can hope, but it's almost certain we are not going to come off of this smoothly, which is going to have an adverse effect on how long this thing sticks around. Too many people are too impatient.

[Rakin]

Originally Posted by Capitalprophets

Havoc caused by CV is now affecting the mortgage industry which is going to have a direct impact for people looking for new loans or trying to refinance.

Had a video group meeting with a large lender today, lot of changes. No loans below a FICO score of 620, Interest rates actually going up due to the risks now in the business, Job verification a day or 2 before closing.

Reminds me of 2008. Sort of.

If you do not need to defer your Payment, you are better off not doing so. It will come due in 90-120 days and is not written off or extended.

[Capitalprophets]

Originally Posted by Rakin

Had a video group meeting with a large lender today, lot of changes. No loans below a FICO score of 620, Interest rates actually going up due to the risks now in the business, Job verification a day or 2 before closing.

Reminds me of 2008. Sort of.

If you do not need to defer your Payment, you are better off not doing so. It will come due in 90-120 days and is not written off or extended.

That will certainly shoot the rates up. I wonder how that would impact the housing market. Less people able to buy houses may increase demand.

[Rakin]

Originally Posted by RJ312

I agree. I think the moratorium on evictions should be close to one year. If there is not an extended moratorium, the consequence will be California like levels of homelessness, which could lead to typhus outbreaks.

If you were renting out your house and had a Mortgage, could you go 6-12 months with a Tenant who did not pay their rent ?

You could afford to absorb $20-40,000 in property taxes, Insurance and Mortgage payments?

[RJ312]

Originally Posted by Rakin

If you were renting out your house and had a Mortgage, could you go 6-12 months with a Tenant who did not pay their rent ?

You could afford to absorb $20-40,000 in property taxes, Insurance and Mortgage payments?

I am unable to identify with that scenario. I've always been a renter and I have always rented from corporate owned apartment complexes. I have not rented from individual owners because I perceive greater risk in that.

While my apartment complex sent a notice to tenants about rent payments that was more subdued in tone than this message sent out by a Las Vegas apartment complex, it had the same underlying message.

I care more about the little person. The landlord is not the little person. The little person lost 100% of their income. The landlord did not.

[Skipito]

Originally Posted by Capitalprophets

That will certainly shoot the rates up. I wonder how that would impact the housing market. Less people able to buy houses may increase demand.

It would have the inverse effect.

Less people qualifying to buy + less buying power = decreased demand and limits on the “hot” price points.