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Most Americans live in a state where unemployment benefits is easily enough for food.
by wormseed 7y ago
Most Americans live in a state where unemployment benefits is easily enough for food.
- smnrchrds 7y agoMillions of Americans who are gig workers are not be eligible for any unemployment benefits.
- agentdrtran 7y agowhat about rent? medical supplies? hygiene items?
- deleted 7y ago[deleted]
- Retric 7y agoPersonally unemployment insurance does not cover my rent. It’s enough to stretch out savings dramatically, but saving on food budget would then be even more important. Especially if you’re considering cashing in some 401k stocks in a down market.
- anonuser123456 7y agoRenegotiate your rent during the crisis. It's extremely unlikely your landlord is going to be able to rent it to someone new in the foreseeable future. Most landlords are highly leveraged and need income. Make an offer to cut it in half and see if they bite.
- repiret 7y agoI own several rental properties, and I’ve already told my property managers that I’m receptive to rent reductions - less rent still beats an empty property. Any landlord who expects to get through this without a reduction in income is just delusional.
- shiftpgdn 7y agoI know an absolute ton of small businesses owners. Every single one of them has tried to renegotiate or get forbearance on rent this week. They have had 0% success and the only response is really that rent is due on the first. There will be a massive commercial real estate crisis soon.
- repiret 7y agoI don’t know what it is, but it seems commercial landlords would rather have an empty property than accept market rent in a down market. I saw a lot of that in the last recession. I suspect that the managers of REITs and partnerships that own most commercial property worry that accepting lower rent would make it harder for them to delude their investors into thinking their property values haven’t tanked. “We appraise this property based on a rental income of $5k/mo, it’s just between tenants right now”
- jlokier 7y agoI think it's sometimes because they see the value of future higher rent after a void is worth more, in straight up cash value, than accepting lower rent with a long term commitment. I've seen it for years: Empty shop buildings, a glut of local businesses wanting to rent them, but they are kept empty until some chain willing to pay double turns up a year later. For the landlord, it's worth waiting if that will be the outcome.
- PaulDavisThe1st 7y agoany self-employed person who sees a dramatic reduction in income (perhaps even 100%) is also (AFAIK) not eligible for unemployment benefits.