Which U.S. Areas Have The Highest Risk Of Eviction Or Foreclosure ?

BigCahuna said:
I can't say why or how the prices for apts, homes, and condos are thru the roof here in New Jersey, but one thing is clear. They are building apt buildings at rate I've never seen in my lifetime. Big 2-4 story buildings with over 900 apts, is the norm now. 2 blocks from my house used to be a 9 hole golf course. They shut down and was sold it to a developer, and now they have almost 1,000 apts there. And they are not cheap to rent. The good side if you can call it that is, it seems to be driving the price of homes thru the roof. I could sell my house for more than 10 times what I paid for it many years ago. I don't see how people can afford today's prices for anything.,,
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My middle daughter just bought a house 975k it shocked me. But looking at her paychecks and bonuses shock's me even more
 
Rmay635703 said:
Mostly old houses that have been converted into 1-4 apartments

We live in an environment where 81% of people think they will be laid off in the next 6 months.

Historically that almost always correlates to real world instability.
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“We” as in who ?

You, your acquaintances, family members, friends, coworkers, residents in your town / community, etc…. ?

https://www.thelayoff.com/

^^^
See what employees that are insiders at various companies saying about the layoffs.
 
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Dave Hess said:
https://www.thelayoff.com/^^^
See what employees that are insiders at various companies saying about the layoffs.
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Not sure I buy it--I scanned the list and saw ADI. But not TI. Clicked on ADI and it's kinda bare.
1740361210514.webp


I mean, someone asks about it in November, then you go back a year, and then a year before. Hardly active if you ask me.

Full disclosure: I don't work for either, but the semi I work at did just do a round of layoffs. Not quite out of left field, and yet all the same, out of left field. So I am indeed worried about layoffs, and have been eying the market, all while trying to stand out at work. The economy is soft and I'm skittish. So I kinda agree with you--just not your link. But also being in semiconductors--it's a roller coaster, so to me, semi's hiring and firing is just what has been going on since we left hollow state behind. But... it sure ain't fun.
 
It depends on the company.

Intel, Cisco, Dell, etc… have many threads especially after a big layoff.
 
supton said:
That doesn't really say anything... if they are using 30% as the threshold then they should say that. Even so, it still sounds like they are just making up stuff.


Man, what I wouldn't do to love from paycheck to paycheck... oh if only I could be young & single again, what a great time it would be. :ROFLMAO:
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Yeah that would be great wouldn't it . lol but he LIVES paycheck to paycheck
 
supton said:
Not sure I completely agreed with it, but one video I watched said there was two classes now: working and upper. The doctor making $500k/yr but neck-deep in debt, is that person better off than the person with a modest pension who no longer has to work? The line gets blurred--I still think there's value in lower/middle/upper class, putting people into those buckets so as to examine behaviors: but I thought the video at least had some merit in it on that front. If you haven't made it to financial independence--then it doesn't matter what you make or the size of your portfolio, you're part of the working class. And ought to act like it.
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But what is financial independence, and what is “making it”?

A family making $300k/yr is easy to do these days. I mean, the teachers salary chart around here goes over $100k/yr… have two employed spouses, and it’s more than likely to hit that much for gainfully employed but reasonably salaried folks. Assume $40k socked away between retirement and health insurance.

I found a handy calculator, throwing $300k and $40k in, and assuming NJ because that’s what it defaulted to due to my IP address, which means that it’s one of the higher taxed states and therefore a worst case… and:

IMG_1705.webp


So after saving somewhat for retirement, the $300k couple brings in $16k per month.

The first million dollar home nearby was actually $1.3M, and assuming the realtor.com calculator is right, it’s an $8600/mo mortgage with current rates and 20% down. A lot of money, but only half of the take home of the above example.

And a remaining $8k/mo is a lot, even with a $1k/mo car lease and whatever else.

So it’s almost hard to believe that the $500k/yr doctor is in debt up to their eyeballs if they’ve paid off med school debt, which should happen pretty quick. Unless they’re on drugs or fueling some other bad habit.

I’d find it hard to believe that someone affording to live in a $1,3M house is in a “working class” akin to the technician or teacher. I also don’t think that the family bringing in $300k/yr and living at this level is at the same status as the $500k dr, or someone making $1M let alone $Millions per year. It sure seems there are some more graduations in there than two. Maybe by simple math is flawed. Maybe I’m forgetting something? I’m sure the rule of thumb isn’t to spend 50% of your take home on a mortgage, but I thought it was 30-38% of gross? It has been so long now and my mortgage is such a tiny fraction, it’s not something I track… but as folks earn more, the cost of stuff, be it even expensive homes and cars and whatnot, is smaller relative to their remaining funds… and thus they are doing better than a working person living paycheck to paycheck. There’s some knee in the curve where the excess taxation that the middle class pays just doesn’t matter as much because there is extra cash flow. That’s not a two class setup…

I DO know kids cost a lot, but plenty of folks raise kids with way less than $8k/mo take home…
 
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Anectdotally, I saw TONS of evictions and foreclosures in 2008-2010 (financial crisis) then it tapered off after that. Recently it is hard to find foreclosures. Evictions happen, and always will, but that can easily be due to personal financial mismanagement of renters, not necessarily the economy. I don't see 35% of the people being evicted or foreclosed on around greater Houston. Nothing even close to that.
 
JHZR2 said:
But what is financial independence, and what is “making it”?
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Being able to get by without a paycheck is how I’d define it. Economy has a hiccup, a pandemic hits, or a bad medical condition occurs—take your pick. Easy for things to go sideways and no longer making money.
 
gfh77665 said:
Seriously? 81%? Unless they "work" for USAID, I don't believe that at all.
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It was actually a useless question that is qualified if there is a recession will you get laid off.
81% of Americans say yes.

Asked in general if they feel they will be laid off NOW a majority of Americans believe they will be laid off, those most concerned in the graphic.

The Americans who get thrown in “other” poles as not being concerned, usually are near retirement or not really working in any meaningful fashion.


IMG_6359.webp


It is expected that farm bankruptcies will double this year, with specific crops and regions already hitting receivership unable to make payments.
 
There are no foreclosures because of the FHA rules put in place after the GFC. The risky stuff is usually in the FHA pool. Except FHA does not foreclose. You can stop paying for years, and the FHA will give you a "Partial Claim", which is a no interest loan to pay the delinquent balance they attach to the end of your mortgage, so interest free money for 30 years. Not that they have any intention of paying.

I follow this guy on X. He posts this stuff all the time.

1741361303850.webp
 
Most of the families we are close to who freely offer up private information about their finances and are working class are 100% cash strapped. A few hundred dollars in their bank account is all they have. A few have zero health insurance for themselves or their kids. My brother in law moved recently into a camper with his wife and 3 kids because they can’t afford rent. It’s sad to see but it’s the world we live in.
 
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