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The "wherethefuckdoesthisbelonganyway" thread

stoney

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
22,016
7,914
Colorado
jimmydean said:
@stoney would tell you to hedge your bets. You are a financial institution, you make sure to cover your nut.

Like Trump bankrupting a casino. :rofl:
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Commercial real estate has historically been the "safe" place for property investing. There was always a stream of income in the form of leasers and rates generally didn't change quickly enough to make the balloon mortgage refinances every 5-10yrs be an issue. The problem that's happened, is that the price of leasing is substantially less than before. As the leases expire, the new contracts are signed at a much lower rate. The lower income mixed with due interest rates that are often increasing, leaves a shortcoming. Banks that focus on commercial real estate are not sitting in a position where their loans are being defaulted upon. And beyond being defaulted upon, the properties are worth far less than the outstanding loan, so even if they take the property from the defaulting loan holder, they are still net negative once the property is sold.

This is one that really is a wtf situation. The idea that employees would start working remote and never come back to the building was ridiculous - basically a black swan event. This will lead to more supersized banks though, as they get acquired to prevent FDIC collapses.
 
jimmydean

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
43,340
15,474
Portland, OR
stoney said:
Commercial real estate has historically been the "safe" place for property investing. There was always a stream of income in the form of leasers and rates generally didn't change quickly enough to make the balloon mortgage refinances every 5-10yrs be an issue. The problem that's happened, is that the price of leasing is substantially less than before. As the leases expire, the new contracts are signed at a much lower rate. The lower income mixed with due interest rates that are often increasing, leaves a shortcoming. Banks that focus on commercial real estate are not sitting in a position where their loans are being defaulted upon. And beyond being defaulted upon, the properties are worth far less than the outstanding loan, so even if they take the property from the defaulting loan holder, they are still net negative once the property is sold.

This is one that really is a wtf situation. The idea that employees would start working remote and never come back to the building was ridiculous - basically a black swan event. This will lead to more supersized banks though, as they get acquired to prevent FDIC collapses.
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Yeah, it's funny to see how they moved the wife and other lesser employees to a branch office rather than HQ downtown. While the drive is 15 minutes further, the parking is free vs $15 a day. She only goes in once, maybe twice a week for 2 hours, it's pretty pointless. Downtown is crazy empty still. A lot of places moved to cheaper spots in the burbs because of costs. What used to be prime hip cool real estate now has a view of open air drug markets in the empty building across the street.
 
rideit

rideit

Bob the Builder
Aug 24, 2004
24,889
12,647
In the cleavage of the Tetons
jimmydean

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
43,340
15,474
Portland, OR

Texas Gov. Greg Abbott boasted shortly after he began soliciting private donations for his controversial migrant busing program that there would likely “be no cost to the state” given the outpouring of support from concerned citizens across the country.

But after nearly two years of fundraising to offset the program’s costs, Abbott’s operation has collected less than half of 1% of the roughly $150 million spent on busing migrants to sanctuary cities, according to a review of state records. And CNN found that the largest donation – $900,000 – never made it into the state’s coffers, either because it was a mistake or a prank.
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Pesqueeb

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
42,085
19,500
Riding past the morgue.
Was tempted to start a "America as a third world nation" thread.

news.northwestern.edu

U.S. maternal death rate increasing at an alarming rate

The U.S. maternal mortality rate is accelerating at an alarming rate, reports a new study from Northwestern Medicine. But it’s not due to the widely believed hypothesis that maternal mortality in the U.S. has increased largely because people are getting pregnant at older ages.
news.northwestern.edu news.northwestern.edu
 
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