The coronavirus
Options
Comments
-
Very interesting, especially from someone who would be in the knowbbiggs said:I do believe suburban real estate will be in higher demand and I also believe people will be looking to have dedicated workspace from home. I do not think cities will become ghost towns, but I've already seen demand for making home improvements, additions, rehab projects (i.e. home office), etc. increase as a result of the current environment. I say that from the standpoint of what I do for a living (mortgage lending), so my sample size is small if we're talking on a national level, but I'm having conversations about this with customers on a much more frequent basis.0 -
Nobody’s talking about the mortgage delinquencies that are piling up. We all know what happened the last time that happened though, don’t we?09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR;
Libtardaplorable©. And proud of it.
Brilliantati©0 -
Everyone I talk to in different markets is saying house sales are booming (less inventory so lots of demand and competition). Great time to be selling a house in a lot of areas (and bad for me who wants to buy one).
0 -
There could definitely be in increase in foreclosures that could, in turn, put downward pressure on home values. Luckily, we haven't seen that yet. Inventory is extremely low so supply/ demand is in balance and home values have remained in balance as a result. When this first began in March I thought the housing market (home sale activity) would be crushed this year, but I've been dead wrong so far. The main difference between 2008/2009 and today is lending standards. Everyone who buys a home today must prove they can afford it, unlike the early 2000's. A foreclosure surge/ housing collapse would be solely driven by the economic downturn and loss of jobs rather than by loose lending of years past. I don't think we've seen the full ripple effects of the virus yet though.Halifax2TheMax said:Nobody’s talking about the mortgage delinquencies that are piling up. We all know what happened the last time that happened though, don’t we?
0 -
Take it with a grain of salt. I'm going solely on observations in my business and personal predictions for the most part. I could certainly be wrong.pjl44 said:Very interesting, especially from someone who would be in the know
0 -
We bought in 2012 into 2013 and I remember laughing at how strict they were. We were putting more than required down, lots left in bank,800+ credit, longevity at jobs, no debt, etc....and we still had to fill out so much crap.bbiggs said:There could definitely be in increase in foreclosures that could, in turn, put downward pressure on home values. Luckily, we haven't seen that yet. Inventory is extremely low so supply/ demand is in balance and home values have remained in balance as a result. When this first began in March I thought the housing market (home sale activity) would be crushed this year, but I've been dead wrong so far. The main difference between 2008/2009 and today is lending standards. Everyone who buys a home today must prove they can afford it, unlike the early 2000's. A foreclosure surge/ housing collapse would be solely driven by the economic downturn and loss of jobs rather than by loose lending of years past. I don't think we've seen the full ripple effects of the virus yet though.The love he receives is the love that is saved0 -
Maybe it will be Wal-Mart that finally get Americans to do the right thing...
0 -
Bentleyspop said:Maybe it will be Wal-Mart that finally get Americans to do the right thing...
Doubtful:
0 -
-
Better have an ambulance or two standing by or make more of those electric carts available.Bentleyspop said:Maybe it will be Wal-Mart that finally get Americans to do the right thing...09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR;
Libtardaplorable©. And proud of it.
Brilliantati©0 -
This is something we kick around at work all the time. The world went on its side. Here are the things that were happening prior to COVID:pjl44 said:Another question: If you're a big believer in a move to remote work, will that ultimately drive up the suburban real estate market? Will more people want dedicated office space in their homes? I can tell you from firsthand experience that a lot of people with good jobs are working from their dining room table, a corner of their basement, etc. If this is the wave of the future, that ain't sustainable.
1. Corps were moving from mid/small cities back into dense urban areas in their recruiting of young talent. The theory was that young people wanted to be urban and highly mobile. I saw this directly at Capital One, here in Richmond. We have the ops hq since teh beginning but over the past 5 years, they have been backfilling less here in Richmond, and adding more jobs in Chicago, NY, and DC suburbs. This is where the high quality young talent wanted to be.
2. After consolidating real estate for years, and encouraging work from home, over the past several years corps have reversed that. They wanted people in the office.
COVID has blown up both of these strategies. Today there are entire call centers working from home. These are people who are non-exempt and have access to NPI. It was unthinkable to WFH. No way, never. But in the course of two weeks, everyone is working from home, having loaded PCs and call center stuff in the back of cars and sent them on their way.
So yes, I think there will be a period of exodus back to the suburbs and some rising prices. I think WFH will be here for at least a few years, although once commercial pricing stays low (if it stays low), there may be a move back. It's crazy how this has disrupted so many 'sacred cows' in business.0 -
bbiggs said:Agreed there will always be opportunity. I think commercial real estate is in big trouble though, even on a long term basis. Time will tell. This f'n virus has forever changed things in some ways.Some larger employers have been exploring permanent WFH where it has been proven to work and have teams meet in an office for 2 or so days per month. An interesting concept for larger companies looking to save substantial rent costs. This was around before covid but the current situation has proven the concept for many.
If many companies do this it could have a devastating impact on the economy. Grab a Starbucks on the way to the office? Go out to Lunch with the gang? Dry clean work clothes? Shine the shoes? All of the small business that feeds off of the commuting culture? Landlords renting out that space? Mortgages on the properties? How much am I forgetting?Edit, less driving= less fuel cost, less car repairs fewer cars sold.Post edited by Lerxst1992 on0 -
I'm particularly interested in #2. Why do you think there was a reversal back to offices after trying WFH?mrussel1 said:This is something we kick around at work all the time. The world went on its side. Here are the things that were happening prior to COVID:
1. Corps were moving from mid/small cities back into dense urban areas in their recruiting of young talent. The theory was that young people wanted to be urban and highly mobile. I saw this directly at Capital One, here in Richmond. We have the ops hq since teh beginning but over the past 5 years, they have been backfilling less here in Richmond, and adding more jobs in Chicago, NY, and DC suburbs. This is where the high quality young talent wanted to be.
2. After consolidating real estate for years, and encouraging work from home, over the past several years corps have reversed that. They wanted people in the office.
COVID has blown up both of these strategies. Today there are entire call centers working from home. These are people who are non-exempt and have access to NPI. It was unthinkable to WFH. No way, never. But in the course of two weeks, everyone is working from home, having loaded PCs and call center stuff in the back of cars and sent them on their way.
So yes, I think there will be a period of exodus back to the suburbs and some rising prices. I think WFH will be here for at least a few years, although once commercial pricing stays low (if it stays low), there may be a move back. It's crazy how this has disrupted so many 'sacred cows' in business.0 -
On point as always!dignin said:Could be better, could be worse? Guess we shouldn't bother with critical thought, because, ya know, silly.
I have no idea what you're going on about. Accepted? Found my home?
Any objective person can see your president has fucked this up beyond any imaginable measure. A complete and total fraud. I'm just glad the Canadian border in (mostly) closed.jesus greets me looks just like me ....0 -
Everything except a blood sample, my man. Still that way today.F Me In The Brain said:We bought in 2012 into 2013 and I remember laughing at how strict they were. We were putting more than required down, lots left in bank,800+ credit, longevity at jobs, no debt, etc....and we still had to fill out so much crap.
0 -
Precisely. Seller's market. I'm pleasantly surprised at how well housing has gone this year and how demand hasn't waned. Let's hope it continues.bootlegger10 said:Everyone I talk to in different markets is saying house sales are booming (less inventory so lots of demand and competition). Great time to be selling a house in a lot of areas (and bad for me who wants to buy one).
0 -
So housing market aside. What are everyone’s thoughts on the White House being in charge of all corona virus data sidestepping the cdc and not having the data available to the public?Scio me nihil scire
There are no kings inside the gates of eden0 -
Covid magically disappears.static111 said:So housing market aside. What are everyone’s thoughts on the White House being in charge of all corona virus data sidestepping the cdc and not having the data available to the public?
09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR;
Libtardaplorable©. And proud of it.
Brilliantati©0 -
Well obviously.Halifax2TheMax said:Covid magically disappears.Scio me nihil scire
There are no kings inside the gates of eden0 -
A lot of it is corporate bureaucracy. The different cost centers/P&L owners had the leases on their P&L with tons of open space. But then they are paying stipends for internet and other add ons for the employees working from home. Making people come in was cheaper because then you kill that 200 per month X employees off your books.pjl44 said:I'm particularly interested in #2. Why do you think there was a reversal back to offices after trying WFH?0
This discussion has been closed.
Categories
- All Categories
- 148.8K Pearl Jam's Music and Activism
- 110K The Porch
- 273 Vitalogy
- 35K Given To Fly (live)
- 3.5K Words and Music...Communication
- 39.1K Flea Market
- 39.1K Lost Dogs
- 58.6K Not Pearl Jam's Music
- 10.6K Musicians and Gearheads
- 29.1K Other Music
- 17.8K Poetry, Prose, Music & Art
- 1.1K The Art Wall
- 56.7K Non-Pearl Jam Discussion
- 22.2K A Moving Train
- 31.7K All Encompassing Trip
- 2.9K Technical Stuff and Help