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6 million households failed to make their rent or mortgage payments in September


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2020 Oct 18, 6:10pm   1,024 views  10 comments

by AD   ➕follow (1)   💰tip   ignore  

https://www.usatoday.com/story/money/2020/10/17/covid-19-stimulus-6-million-miss-rent-mortgage-payments-september/3694327001/

This has been trending down (just like the unemployment rate) as in September 2020 about 6.2 million households failed to make rent or mortgage payments.

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1   Booger   2020 Oct 18, 6:18pm  

Article fails to mention how this compares to the same time last year.
2   AD   2020 Oct 18, 6:40pm  

Booger says
Article fails to mention how this compares to the same time last year.


Good point Booger. I think it was around 2 million back in 2019.

Here is another article related to this topic:

https://www.apartmentlist.com/research/october-housing-payments
3   AD   2020 Oct 18, 6:41pm  

And here is another with 2019 data

The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 86.8 percent of apartment households made a full or partial rent payment by October 13 in its survey of 11.5 million units of professionally managed apartment units across the country.

This is a 2.4-percentage point, or 271,000-household decrease from the share who paid rent through October 13, 2019 and compares to 86.2 percent that had paid by September 13, 2020. These data encompass a wide variety of market-rate rental properties across the United States, which can vary by size, type and average rental price.

https://www.nmhc.org/research-insight/nmhc-rent-payment-tracker/

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4   FortwayeAsFuckJoeBiden   2020 Oct 18, 6:53pm  

I’ve seen this movie before, it didn’t end well.
5   AD   2020 Oct 18, 7:03pm  

Fortwaynemobile says
I’ve seen this movie before, it didn’t end well.


You mean in 2008 and 2009 ?
6   AD   2020 Oct 18, 7:30pm  

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The data is showing a slow but improving trend.

Just like with airline passenger travel now between 35% to 38% of 2019 levels. It was 5% back in April 2020 and has steadily improved.

https://www.tsa.gov/coronavirus/passenger-throughput

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7   just_passing_through   2020 Oct 18, 7:31pm  

Hawaii opened up to visitors again on October 15th. I'm getting bookings left and right for my vacation rental. Like rapid fire. First guest checked in 2 hours ago. Was a long 5 months.
8   rocketjoe79   2020 Oct 18, 7:35pm  

Wasn't there a Payment Deferment from the Gov't? If you didn't have to pay your mortgage for several months, no penalty, wouldn't you too? I think you'd be dumb not save the money. Hell, just save the money for Rainy days or IRA or Roth it.
9   Ceffer   2020 Oct 18, 8:02pm  

Santa Cruz is packed to the gills with people on weekends. I guess a lot of public parks are still closed. Nowhere else to go but the beach.

I went paddle boarding, and I had to walk half a mile with my board for one parking spot that magically opened up. It felt like they talk about SoCal.

The place I go was crawling with people like I never see, kids underfoot, etc. I hate walking around with a board with those kiddies, they are like random guided missiles to your legs, and they hang on the stairs and all over the areas you like to go into and out of the surf.
10   AD   2020 Oct 18, 8:28pm  

Florida panhandle has shown promise as far as economic recovery.

The local airport in Panama City Beach bottomed at 5% of 2019 airline traffic in May 2020.

And in July 2020 it was at 60% of 2019 levels. Waiting on August - September 2020 data.

And below is from a South Florida business journal's recent article:

"Scott Webb, president of Delray Beach-based Kolter Hospitality, said occupancy at his South Florida hotels have plateaued at about 50% in recent weeks, up from 20% to 30% range in April and May, according to STR data.

Webb predicts occupancy could be between 75% and 85% by the start of 2021 thanks to leisure travelers from outside of Florida. It's not the 95% occupancy at the start of 2020 that was typical during that time, but it's still a marked improvement from the summer post-pandemic lows."

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