Home Forums Hunting & Shooting Hunter's Campfire 30% of Americans missed their housing payments in June

Here is where I find these numbers a bit misleading. It doesn't say which states, or mortgage sizes.

The vast majority of people live well beyond their means. I see it all too often with young, new Airmen that come in and instantly get a high car payment, insurance to match and interest out the wazoo. People paying a majority of their paychecks to car note and rent, and then complain they don’t make enough, instead of living with what they can afford.

I didn't.

And, all but 2 tenants are keeping up with new flex-payment option I put in place back in March.

And, those 2 tenants were problematic pre-corona.

Credit is good for the responsible and an enslaving trap for the rest.

Winner winner. I'd have been debt free 20 years ago if not for evil #2.

That's VERY true. The bank will 'qualify' them for a mortgage loan. Just because you CAN borrow that much doesn't mean you SHOULD borrow that much. A maximum mortgage will leave them running on the edge for the next 30 years.
OTOH, in many areas housing costs are skyrocketing and buyers don't have much choice. Even tiny, old houses are selling for what a big new one sold for a few years ago. Young people these days are getting into serious debt.

Paid 2 off since the 1st of March.

Im with you on that. Im in the industrial and warehousing business and we arent seeing many problems with rents. Retail landlords will be the hardest hit in my opinion. But they will work out deferments or even abatements for tenants as it costs a lot more than a two or three months rent to be vacant and lease out the vacant spaces. With laws in place that keep landlords from evicting and banks from foreclosing people will take advantage. I get 1st ,last and security deposits for my clients so some that miss a month will agree to have that last month apply to a missed month and then make up the last month over some time.

Exactly it amazes me how many people live paycheck-to-paycheck , refinance to stretch their mortgage out as long as possible every few years, never get ahead they have the same balance for 20 years on their mortgage, have no Savings in case something happens like this, go on cruises two times a year , buy a new car every two years, but they don't have spare pennies saved for anything. I paid my mortgage off last year 9 years early saving about $20,000 in intrest. Working on retirement investments now.

Ya I missed my house payment too. Since 1996 that is.

You never own your house. If you think you do stop paying taxes on it and see how long you own it.

We have 2 properties owner financed[same person], she missed April & May but has since caught up 1 of the 4 missed payments and has post dated checks to us making up the other 3 over the next couple of months.

Not house rent, but storage for our camper as we can't keep it here. Talked with the guy who owns the storage place, thinking he might have a ton of issues with people not paying their rent. He said it was unusual, but he had better collections than normal.

Or land, it really sucks but is true

Which begs the question that if politicians feel they can legislate a moratorium on renters and homeowners paying their rent or mortgage, why don't they legislate a moratorium on property tax? Or income tax, or sales tax, etc.?

I don’t necessarily believe the numbers that missed a mortgage payment.
But is see so many people living well beyond their means, fancy new cars, $1000 I phones, eating at high end restaurants,etc. I dont have the least bit of sympathy for them.
But I suspect that those that properly managed their finances, will get stuck with the tab.

Common sense tells me that a percentage of our savings, retirement accounts and investments will be taxed - stolen before 2024. Only those who have a little $aved will be required to bail out the freeloaders and deadbeats. If you're not making the rules your gonna get screwed.

Klaus Schwab, Dan Crenshaws and Telsi Gabbards puppetmaster of Davos and World Economic Forum.

Don't know for sure, but I suspect the now generations has no understanding of a rainy day fund.

Have friends that replace the old with new as soon as the original is paid off.

Had major surgery March 2020. Went 4 months without a paycheck. Salary reduction of 75% when I was able to return to work. Have yet to miss a payment on the farm, or anything else.

Yes, we had a rainy day fund. However, made a conscious choice to sell a bunch of stuff to minimize draw down on the rainy day fund. Vehicle fleet averages 13 years old with 150K miles. But, everything starts, stops and drives. We will survive...