All Forum Categories
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
All Forum Posts by: Mark Cruse
Mark Cruse has started 33 posts and replied 1168 times.
Post: Does proximity to a cemetery affect home value?
- Investor
- Fort Washington, MD
- Posts 1,209
- Votes 1,609
I wish someone would give me a discounted him near Arlington Cemetary.
Post: Why Class D/Section 8 returns are not as good in Real Life vs on Paper - Real example
- Investor
- Fort Washington, MD
- Posts 1,209
- Votes 1,609
Quote from @Stuart Udis:
@Mark Cruse My position on lower tier real estate has been consistent. The real estate is disproprotionately impacted by expenses requiring a more hands on approach. For this reason its difficult to operate these properties sustainably over a long period of time. It becomes even more difficult to operate these properties when investing on small scale out of state reliant on 3rd party vendors which is how most on BiggerPockets become involved in owning these properties.
Perhaps your understanding of the community and tenant gives you an upper hand but by your own admision you self manage. This is how you compensate for the disproportionate expenses. Your communication skills and understanding of the community do not take care of cap ex, pay for fixed operational costs etc. You also say its been smooth sailing yet in the same post aknowldged your approach has weared on your mentally which is why you are "upgrading"...presumably to better asset classes.
The point I've been making all along is you can succeed in these neighborhoods, but its very difficult to do so without being incredibly hands on. You've had success operating these properties but your story is the playbook I've been preaching of how it can be done. Unfortunately its not the playbook most sign up for when they are purchasing these properties believing real estate can be passive (not that any real estate is truly passive, but this asset class in particular is one of the least passive to operate).
Ok, we concur. I don't disagree. Most of what you say here is cool outside of the capex comment. If all your tenants are performing well, with the killer cashflow that comes with it, this capex is ok. However, I do get what you are saying. Many don't sign up for this because it does take way more to make it work. Its wearing on me mentally because as I get older, I don't want to deal with the extra that comes along with it. When I was young, I needed to low entry point. I don't need that now. Even though the remaining Class Ds still work, you know it can go sideways at any moment. I can handle that, but dont need to anymore. I want it to be easier. Still if you have the skill sets to make this work, and feel like doing it, you can become wealthy on a faster track.
Post: Why Class D/Section 8 returns are not as good in Real Life vs on Paper - Real example
- Investor
- Fort Washington, MD
- Posts 1,209
- Votes 1,609
Quote from @Jay Hinrichs:
Quote from @Mark Cruse:
Quote from @Stuart Udis:
@Mark Cruse As a landlord you can understand the tenant base, you can respect the tenant base, you can be a responsive. This can be met by a tenant who is responsible and respectful of the property where the live. Unfortunately even the perfect landlord and tenant can't solve dilemna of expenses disproportionately impacting lower valued real estate. For illustration purposes take my market, Philadelphia as an example and compare a duplex in North Philadelpiha (c/d neighborhood) to a duplex in Chestnut Hill (A neighborhood). Rental licensing and lead testing requirements cost the same, common utilites cost the same, snow removal costs the same, general libility insurance costs the same, tax prep costs the same and the list goes on. Also, rents may be 3X higher but the leaking sink doesn't cost 3x to repair, when the curb trap has to be repalced, it costs the same and similarly the list goes on. Yes I agree, there are many landlords who are scum and treat their low income tenants poorly but treating your tenants well alone does not translate to sustainably operating these properties. Most who oprate in this space succesfully are extremely hands on or reach scale to achieve efficiencies. Neither of which is the profile of 99.9% of the investors on BiggerPockets who purchase these lower valued property expecting to retire early off of their excel spreadsheet cashflow.
I may not be making myself clear. I'm not alluding to the notion that treating them well will do it alone. Many are decent people who treat them well who can't make it work either. My point is you have to know your community. Most landlords who operate there do not. You have to understand what is going on in that community. You have to understand the culture and how to communicate with the population. You have to know how the critique the person you are getting and screen very well. You have to be familiar with how many of them thinks and perceives things. I have recently taken over a 2 unit that landlord after landlord could not make work. They have a 13-year tenant on section 8, but they were from some far away area far detached from any low-income elements. The place over all isn't low income but with more and more vouchers coming, certain pockets have that feeling. It was sold every few years because they didn't know what they were doing. I told the tenant I do and would be the landlord for several years. Low and behold; it's been nothing by smooth sailing. When people put up their proformas, spread sheets, calculated cash flow assessments and everything else, if they don't understand the inner dynamics, they are bound to fail. Because many have no clue how to communicate on this level or operate in the culture or environment, the mutual degrees of toleration and respect start to deteriorate rapidly. These are the same people who will come here and tell you they are a bunch of savages, or you need animal cages in your property. I know several people who thrive in the space who do not have this massive scale or that hands on. I'm one. I mean I do manage them, but I have several low-income tenants in place that all pay on time and treat my place as if it's their own. I don't know what to tell ya man. It's a niche and some just know how to work it. I know trump is and king and hero to so many here. His son in law operates in Baltimore hoods all the time. Yea, I guess you will attribute that to the scale, but like I said man, it works for some. Now I will say this, over time this can wear on you mentally which is why I'm upgrading, but like I said, I can operate on any level
during the GFC I had to move to Jackson MS as I was foreclosing on about 200 section 8 rentals I had made loans on.. the landlords and borrowers were as described all basically west coast based and had no CLUE as to the issues Mark is describing and neither did I .. But I got an education I was knocking on doors talking to tenants etc etc. But it was tough being a white guy from the coast in an all black neighborhood knocking on the door, At the beginning I literally could not understand many with the deep south accents etc so that was tough .
wanting to know who they were paying rent to LOL.. I swear they thought I was FBI or cops or something. Would not answer the door or would not tell the truth they all said they paid rent but could not prove it etc. I was there like I said a year and learned a lot about that culture of the deep south and those who are basically life long renters and 2nd and 3rd generation section 8.. And like most things some were great some were not and some were awful.. So after that trauma and losing millions as I re-positioned and started over. Turning it over to PM would have been worse as most PM's in those areas. I will only do business now with folks that live and work in the community NO OUT Of AREA landlords will I lend to.. Unless its A B class non section 8. Currently lending in Baltimore for buy and hold . My clients though ( I only have 3) But they each own well over 200 doors live in pikesville and are in the neighborhood each and every day.. Just like when i go there ( was there in Jan.) I go through 10 or 15 of the projects I am funding to just see how they are doing.. They are providing very nice units I know I pay the rehab draws and visually inspect.. none of them are slum lord exact opposite actually. But they all self manage or should I say both of them have a PM that ONLY manages their portfolios.. I am very proud of what I am doing there.. I am funding next week a 23 home portfolio all shells all on one block 270k total for all of them.. But the rehab budget on all of them is 90 to 110k each.. so my client is making a difference big time in the city.
Wow, what a testament. White dude walking through all that. LOL. I can only imagine some of the madness lol. But by doing that you are further exemplifying what I have been saying. Not sure if you were saying this, or it was your intent, but in a more profound and demonstrated aspect, you are proving the point I'm making. I don't want that many, but I would love to network with people doing that scale in Bmore.
Post: Why Class D/Section 8 returns are not as good in Real Life vs on Paper - Real example
- Investor
- Fort Washington, MD
- Posts 1,209
- Votes 1,609
Quote from @Stuart Udis:
@Mark Cruse As a landlord you can understand the tenant base, you can respect the tenant base, you can be a responsive. This can be met by a tenant who is responsible and respectful of the property where the live. Unfortunately even the perfect landlord and tenant can't solve dilemna of expenses disproportionately impacting lower valued real estate. For illustration purposes take my market, Philadelphia as an example and compare a duplex in North Philadelpiha (c/d neighborhood) to a duplex in Chestnut Hill (A neighborhood). Rental licensing and lead testing requirements cost the same, common utilites cost the same, snow removal costs the same, general libility insurance costs the same, tax prep costs the same and the list goes on. Also, rents may be 3X higher but the leaking sink doesn't cost 3x to repair, when the curb trap has to be repalced, it costs the same and similarly the list goes on. Yes I agree, there are many landlords who are scum and treat their low income tenants poorly but treating your tenants well alone does not translate to sustainably operating these properties. Most who oprate in this space succesfully are extremely hands on or reach scale to achieve efficiencies. Neither of which is the profile of 99.9% of the investors on BiggerPockets who purchase these lower valued property expecting to retire early off of their excel spreadsheet cashflow.
I may not be making myself clear. I'm not alluding to the notion that treating them well will do it alone. Many are decent people who treat them well who can't make it work either. My point is you have to know your community. Most landlords who operate there do not. You have to understand what is going on in that community. You have to understand the culture and how to communicate with the population. You have to know how the critique the person you are getting and screen very well. You have to be familiar with how many of them thinks and perceives things. I have recently taken over a 2 unit that landlord after landlord could not make work. They have a 13-year tenant on section 8, but they were from some far away area far detached from any low-income elements. The place over all isn't low income but with more and more vouchers coming, certain pockets have that feeling. It was sold every few years because they didn't know what they were doing. I told the tenant I do and would be the landlord for several years. Low and behold; it's been nothing by smooth sailing. When people put up their proformas, spread sheets, calculated cash flow assessments and everything else, if they don't understand the inner dynamics, they are bound to fail. Because many have no clue how to communicate on this level or operate in the culture or environment, the mutual degrees of toleration and respect start to deteriorate rapidly. These are the same people who will come here and tell you they are a bunch of savages, or you need animal cages in your property. I know several people who thrive in the space who do not have this massive scale or that hands on. I'm one. I mean I do manage them, but I have several low-income tenants in place that all pay on time and treat my place as if it's their own. I don't know what to tell ya man. It's a niche and some just know how to work it. I know trump is and king and hero to so many here. His son in law operates in Baltimore hoods all the time. Yea, I guess you will attribute that to the scale, but like I said man, it works for some. Now I will say this, over time this can wear on you mentally which is why I'm upgrading, but like I said, I can operate on any level
Post: Why Class D/Section 8 returns are not as good in Real Life vs on Paper - Real example
- Investor
- Fort Washington, MD
- Posts 1,209
- Votes 1,609
Quote from @Stuart Udis:
@Mark Cruse As a landlord you can understand the tenant base, you can respect the tenant base, you can be a responsive. This can be met by a tenant who is responsible and respectful of the property where the live. Unfortunately even the perfect landlord and tenant can't solve dilemna of expenses disproportionately impacting lower valued real estate. For illustration purposes take my market, Philadelphia as an example and compare a duplex in North Philadelpiha (c/d neighborhood) to a duplex in Chestnut Hill (A neighborhood). Rental licensing and lead testing requirements cost the same, common utilites cost the same, snow removal costs the same, general libility insurance costs the same, tax prep costs the same and the list goes on. Also, rents may be 3X higher but the leaking sink doesn't cost 3x to repair, when the curb trap has to be repalced, it costs the same and similarly the list goes on. Yes I agree, there are many landlords who are scum and treat their low income tenants poorly but treating your tenants well alone does not translate to sustainably operating these properties. Most who oprate in this space succesfully are extremely hands on or reach scale to achieve efficiencies. Neither of which is the profile of 99.9% of the investors on BiggerPockets who purchase these lower valued property expecting to retire early off of their excel spreadsheet cashflo
Its more than just treating tenants with respect. You have to know the community and understand the culture. Most of these landlords do not. If you know how to screen, mitigate problems and stay out ahead of potential disasters, you are fine. Over the years, I had my share of silliness but over all I know what I'm doing. I know how to screen. I know how to get that voucher holder who respects my home and takes care of it. If I have 5 or 10 section 8 tenants that all have this mindset, I'm killing the game in steady, guaranteed cashflow and stability. I let them run themselves while they expand my equity holdings. Because of have lived in similar communities or know people in the communities, it gives me insight and understanding far beyond those who may have an understanding of it from movies or TV.
Post: Why Class D/Section 8 returns are not as good in Real Life vs on Paper - Real example
- Investor
- Fort Washington, MD
- Posts 1,209
- Votes 1,609
Quote from @Brian Bisdorf:
I have a property that I renovated and would like to turn into a rental instead of a flip. Most of the horror section 8 land Lord stories I've heard of are where the Tennant wasn't vetted and simply took them in for the voucher. Some states/county rules are more favorable than others for the landlord.
Any positive experiences here from landlords that were able to properly screened the tenants first?
Many people make this asset class work. The problem for most of these investors is they don't understand the community or the people they are serving. Also, many do not show them any sense of respect. For all the people who preach this can't work, you should also talk to the people who do. I successfully navigated this space for over a decade.
Post: Washington D.C. Prices Are In The DOGE House - Are Prices Dropping ?
- Investor
- Fort Washington, MD
- Posts 1,209
- Votes 1,609
Quote from @Ken M.:
Quote from @Mark Cruse:
Quote from @Ken M.:
Quote from @Mark Cruse:
Quote from @Ken M.:
Quote from @Mark Cruse:
Quote from @Jay Hinrichs:
Quote from @Mark Cruse:
Quote from @Jay Hinrichs:
Quote from @Mark Cruse:
I'm not sure how many are being laid off in the DMV but depending on how many, how could it not lead to a barrage of negative impacts? This region is heavily drenched with federal employees. Aside from multiple people slipping into anxiety, misery and depression, it can clearly lead to a substantial degree of foreclosures. With a very high costs are so many are stretched to the limit. Knocking their livelihood out from under them with no notice is not only demonic and cruel, but t creates chaos.
Are they not getting a severance package .. I seem to think i read that .. And layoffs happen in the private sector all the time.. I mean look at Intel.. my daughter works or did work there for 22 years .. and then poof they layoff 15k employees .. how is this any different.. If these folks have skills and work ethic they will end up employeed start a business or some other Venture. My Daughter got head hunted and never missed a day.. She actually got a HUGE promotion on the Intel spin off division that left Intel.. But Yes if you come to work one day and your pay stops that day with no severance and have to go on unemployment ( if they are allowed unemployment) and food stamps and whatever other social programs while they get new jobs ?
Not sure where you heard any notion of severance package. Many are not even sure if they will get paid anything. The IRS employees who signed up were told they can't leave until May. I don't know all the dynamics with your daughter so I can't compare. No one knows what will happen in the DC region, but applying logic and observing past trends, if a significant number lose their jobs with zero notice, it most likely will trigger foreclosures. DC is very expensive and so many of these workers live check to check even though they make decent money. That is reality. I hope it doesn't but clearly it could be the case. I believe there will be major market decline due to other things, but I hope not.
from what I have read and of course Media bias is slanted one way or the other.. Those that are in their probationary period IE not yet fully vested if they are not signed on then they are terminated just like anyone else would be if working in the private sector. Then those with tenure but choose not to go to the office can take the buyout which includes the severance.
I mean companies layoff folks all the time.. why is this any different especially with how un efficient government is.. I mean I work with these folks I understand the difference between private sector and govmit employees.. My bank a few years back was bought by a bigger bank and same thing happened to alot of the employees .. One day without even knowing the bank was for sale.. the next day they are notified the bank sold and the new bank is bringing in their own people. Its just the risk people take when they work for any other company other than themselves.. WE see it on BP all the time.. Folks talking about how much they hate their job I am sure their employers would love to know their real feelings. Will see how it all shakes out. I also wonder how this is going to affect Section 8 you know those with 100% vouchers that basically never work or will never work.. I can see govmit making a condition that tvhey must try to get employment at least.
There is no severance of any kind period. I have an idea which news slant you are listening to in order to hear something like that LOL. In firing people on probation, it tends to play out much different under normal circumstances. I have never heard of mass firings done in the most chaotic and incompetent way. People are being fired for sport as though it's some pleasurable reality show game. People are devastated with some on the verge of suicide. Thousands of people are having their lives all out destroyed, and a cult is cheering their leaders as though it's some Olympic game in the Roman Coliseum. People have relocated from across the nation for some of these positions and have nowhere to go or nothing to do. People have mortgages, kids in college, caring for elderly parents or kids with special needs/ Many of them now have no idea what life is brining for them in the near future. This is funny and cool to one side until members of that side get impacted. This is what's happening now. For them, it's not some nonchalant that's how it goes element. Most only assumed it applied to a specific demographic of society so it would be seen as more humorous or acceptable. Al in all, its relative. Either you feel its ok and no big deal or you recognize the pure degrees of despicable disgust. There has already been one suicide of a grade school little girl due to some of this demonic madness. I don't know what else to say. Overall, it's a very great chance of there being mass foreclosures and like I said, I would not be surprised of the market having devastating down turns. I hope not.
"Due to the delays in the program’s expiration date as a result of the legal challenges, over 75,000 federal workers were able to accept the offer."
i know this. Is there a point you are making?
Hmmm, you said "there is no severance of any kind period" and that just isn't true.
You should be happy anybody is even reading tribble like that. ;-) (Tribbles are a fictional alien species in the Star Trek universe)
If you all are going to repeat or believe whatever hannity tells you, you should understand what you are repeating. They were given a choice; either sign up for fork in the road in a few days which is a resignation, or risk getting fired. The only thing they get is their pay for a few months while they are not working. They get paid until September (if you believe that). If that is your description of a severance package its really nothing more I can say. For the IRS people who signed it, they were told they can't leave until May so their so-called severance packages are very limited. Also, the government is not even funded so most think they won't get paid for that time anyway. The king will just say "my bad, we have no more money". Again, the one side thinks it's funny until it hits them. Those right-wing legislators are catching hell in their districts, so we shall see. If WMAL told you there is something else which you deem a severance, they are lying. You are talking to someone here on te ground who is directly looking at what is going on and knows the people impacted.
I understand you have your strong biases and have Trump Derangement Syndrome, for reasons I don't understand,
but I though you should know about the USA's fiscal year, so you can at least make a coherent argument. You're welcome.
Your opinion is noted.
In good conscience, though I know it will fall on deaf ears, please seek information away steve banon or WMAL. Research what you are talking about before you say things in public. Google can be a great resource......................
Post: Washington D.C. Prices Are In The DOGE House - Are Prices Dropping ?
- Investor
- Fort Washington, MD
- Posts 1,209
- Votes 1,609
Quote from @Jay Hinrichs:
Quote from @Mark Cruse:
Quote from @Jay Hinrichs:
Quote from @Mark Cruse:
Quote from @Jay Hinrichs:
Quote from @Mark Cruse:
I'm not sure how many are being laid off in the DMV but depending on how many, how could it not lead to a barrage of negative impacts? This region is heavily drenched with federal employees. Aside from multiple people slipping into anxiety, misery and depression, it can clearly lead to a substantial degree of foreclosures. With a very high costs are so many are stretched to the limit. Knocking their livelihood out from under them with no notice is not only demonic and cruel, but t creates chaos.
Are they not getting a severance package .. I seem to think i read that .. And layoffs happen in the private sector all the time.. I mean look at Intel.. my daughter works or did work there for 22 years .. and then poof they layoff 15k employees .. how is this any different.. If these folks have skills and work ethic they will end up employeed start a business or some other Venture. My Daughter got head hunted and never missed a day.. She actually got a HUGE promotion on the Intel spin off division that left Intel.. But Yes if you come to work one day and your pay stops that day with no severance and have to go on unemployment ( if they are allowed unemployment) and food stamps and whatever other social programs while they get new jobs ?
Not sure where you heard any notion of severance package. Many are not even sure if they will get paid anything. The IRS employees who signed up were told they can't leave until May. I don't know all the dynamics with your daughter so I can't compare. No one knows what will happen in the DC region, but applying logic and observing past trends, if a significant number lose their jobs with zero notice, it most likely will trigger foreclosures. DC is very expensive and so many of these workers live check to check even though they make decent money. That is reality. I hope it doesn't but clearly it could be the case. I believe there will be major market decline due to other things, but I hope not.
from what I have read and of course Media bias is slanted one way or the other.. Those that are in their probationary period IE not yet fully vested if they are not signed on then they are terminated just like anyone else would be if working in the private sector. Then those with tenure but choose not to go to the office can take the buyout which includes the severance.
I mean companies layoff folks all the time.. why is this any different especially with how un efficient government is.. I mean I work with these folks I understand the difference between private sector and govmit employees.. My bank a few years back was bought by a bigger bank and same thing happened to alot of the employees .. One day without even knowing the bank was for sale.. the next day they are notified the bank sold and the new bank is bringing in their own people. Its just the risk people take when they work for any other company other than themselves.. WE see it on BP all the time.. Folks talking about how much they hate their job I am sure their employers would love to know their real feelings. Will see how it all shakes out. I also wonder how this is going to affect Section 8 you know those with 100% vouchers that basically never work or will never work.. I can see govmit making a condition that tvhey must try to get employment at least.
There is no severance of any kind period. I have an idea which news slant you are listening to in order to hear something like that LOL. In firing people on probation, it tends to play out much different under normal circumstances. I have never heard of mass firings done in the most chaotic and incompetent way. People are being fired for sport as though it's some pleasurable reality show game. People are devastated with some on the verge of suicide. Thousands of people are having their lives all out destroyed, and a cult is cheering their leaders as though it's some Olympic game in the Roman Coliseum. People have relocated from across the nation for some of these positions and have nowhere to go or nothing to do. People have mortgages, kids in college, caring for elderly parents or kids with special needs/ Many of them now have no idea what life is brining for them in the near future. This is funny and cool to one side until members of that side get impacted. This is what's happening now. For them, it's not some nonchalant that's how it goes element. Most only assumed it applied to a specific demographic of society so it would be seen as more humorous or acceptable. Al in all, its relative. Either you feel its ok and no big deal or you recognize the pure degrees of despicable disgust. There has already been one suicide of a grade school little girl due to some of this demonic madness. I don't know what else to say. Overall, it's a very great chance of there being mass foreclosures and like I said, I would not be surprised of the market having devastating down turns. I hope not.
Mark, I think you under estimate these federal employees.. Its not like
they will never work again and or cant find employment in the private
sector.. many of them will probably do much better since they know the
ins and outs of how gov works.. Especially anyone from the IRS .. I see
that all the time with folks doing tax's and one of their strengths is
they did work for the IRS so have superior knowledge etc.
I
dont think you going to see mass foreclosures at all. And my reasons are
one as stated these folks are not unemployable and they will find other
jobs for sure. And for two It takes well over a year to even start a
foreclosure. And 3 foreclosures are at an all time low because servicers
and banks realized after the GFC workouts are far superior to
foreclosure so at worse if they miss payments it will be like Covid
these sevicers will add missed payments and extend their mortgages..
Some of course may walk and not do anything to protect their homes. But
Mass foreclosures thats just not reality at all.
I don't have
the figures exact but there has already been tons of layoffs throughout
corporate America and there always is every year you see companies
laying off or closing etc.. And while we can feel for those affected its
just life it happens.. So to me there is no special sympathy just
because they are working for the government ALL people getting laid off
we can have sympathy for. People are resilient and will rebound. I
think I mentioned my Daughter worked at Intel they laid off 15k peeps
and are in the process of selling off most of the business. Who would
have thought Intel would crater like this.. ?? So to me bottom line the
good workers at the govmit will find new work some will do way better
in the private sector than working for the govmit etc.
As for the
suicide you mentioned of course we know were your reading that.. But
kids do this every week in america that are bullied at school.. Media
just chose to cherry pick this one.
During the GFC I knew 3
folks in my business which is Real Estate business and building that
also took their own lives as they lost most if not all their property or
business's it happened.
And myself I lost 95% of my money and
business between 08 and 2011 and had to start all over from the bottom
so I know how it feels.
Sir, you need to be a politician. LOL. Everything with this retort makes sense and is well thought out with precision. I just wish those who are cheering and gaining pleasure from this had some form of diplomatic assessment similar to yours. In reading your narrative regarding foreclosure, I have to admit the logic you added makes sense. I sincerely hope you are correct. Not saying this applies to you, but my goodness, we are all one nation. People are promoting the hatred of half of your own nation/people for profit. The cult members get nothing but angrier and the top echelons get wealthier. United we stand divided we fall. Having so much rage, despise and destructive division is construed as intelligent for the well-being of the United States? In all honesty, if the destruction and misery of other people brings an individual pleasure, they should look deep within the essence of their soul. They have most likely the same character of the people who enjoyably watched innocent African Americans hung and burned in town square, making them feel joyful. Either way, I do respect the way you came at this with your personal insights. They made sense and hope they are correct. It actually made me take a second look a few things. I guess that's why you have accomplished so much and are the King of the BP. LOL
Post: Washington D.C. Prices Are In The DOGE House - Are Prices Dropping ?
- Investor
- Fort Washington, MD
- Posts 1,209
- Votes 1,609
Quote from @Ken M.:
Quote from @Mark Cruse:
Quote from @Ken M.:
Quote from @Mark Cruse:
Quote from @Jay Hinrichs:
Quote from @Mark Cruse:
Quote from @Jay Hinrichs:
Quote from @Mark Cruse:
I'm not sure how many are being laid off in the DMV but depending on how many, how could it not lead to a barrage of negative impacts? This region is heavily drenched with federal employees. Aside from multiple people slipping into anxiety, misery and depression, it can clearly lead to a substantial degree of foreclosures. With a very high costs are so many are stretched to the limit. Knocking their livelihood out from under them with no notice is not only demonic and cruel, but t creates chaos.
Are they not getting a severance package .. I seem to think i read that .. And layoffs happen in the private sector all the time.. I mean look at Intel.. my daughter works or did work there for 22 years .. and then poof they layoff 15k employees .. how is this any different.. If these folks have skills and work ethic they will end up employeed start a business or some other Venture. My Daughter got head hunted and never missed a day.. She actually got a HUGE promotion on the Intel spin off division that left Intel.. But Yes if you come to work one day and your pay stops that day with no severance and have to go on unemployment ( if they are allowed unemployment) and food stamps and whatever other social programs while they get new jobs ?
Not sure where you heard any notion of severance package. Many are not even sure if they will get paid anything. The IRS employees who signed up were told they can't leave until May. I don't know all the dynamics with your daughter so I can't compare. No one knows what will happen in the DC region, but applying logic and observing past trends, if a significant number lose their jobs with zero notice, it most likely will trigger foreclosures. DC is very expensive and so many of these workers live check to check even though they make decent money. That is reality. I hope it doesn't but clearly it could be the case. I believe there will be major market decline due to other things, but I hope not.
from what I have read and of course Media bias is slanted one way or the other.. Those that are in their probationary period IE not yet fully vested if they are not signed on then they are terminated just like anyone else would be if working in the private sector. Then those with tenure but choose not to go to the office can take the buyout which includes the severance.
I mean companies layoff folks all the time.. why is this any different especially with how un efficient government is.. I mean I work with these folks I understand the difference between private sector and govmit employees.. My bank a few years back was bought by a bigger bank and same thing happened to alot of the employees .. One day without even knowing the bank was for sale.. the next day they are notified the bank sold and the new bank is bringing in their own people. Its just the risk people take when they work for any other company other than themselves.. WE see it on BP all the time.. Folks talking about how much they hate their job I am sure their employers would love to know their real feelings. Will see how it all shakes out. I also wonder how this is going to affect Section 8 you know those with 100% vouchers that basically never work or will never work.. I can see govmit making a condition that tvhey must try to get employment at least.
There is no severance of any kind period. I have an idea which news slant you are listening to in order to hear something like that LOL. In firing people on probation, it tends to play out much different under normal circumstances. I have never heard of mass firings done in the most chaotic and incompetent way. People are being fired for sport as though it's some pleasurable reality show game. People are devastated with some on the verge of suicide. Thousands of people are having their lives all out destroyed, and a cult is cheering their leaders as though it's some Olympic game in the Roman Coliseum. People have relocated from across the nation for some of these positions and have nowhere to go or nothing to do. People have mortgages, kids in college, caring for elderly parents or kids with special needs/ Many of them now have no idea what life is brining for them in the near future. This is funny and cool to one side until members of that side get impacted. This is what's happening now. For them, it's not some nonchalant that's how it goes element. Most only assumed it applied to a specific demographic of society so it would be seen as more humorous or acceptable. Al in all, its relative. Either you feel its ok and no big deal or you recognize the pure degrees of despicable disgust. There has already been one suicide of a grade school little girl due to some of this demonic madness. I don't know what else to say. Overall, it's a very great chance of there being mass foreclosures and like I said, I would not be surprised of the market having devastating down turns. I hope not.
"Due to the delays in the program’s expiration date as a result of the legal challenges, over 75,000 federal workers were able to accept the offer."
i know this. Is there a point you are making?
Hmmm, you said "there is no severance of any kind period" and that just isn't true.
You should be happy anybody is even reading tribble like that. ;-) (Tribbles are a fictional alien species in the Star Trek universe)
If you all are going to repeat or believe whatever hannity tells you, you should understand what you are repeating. They were given a choice; either sign up for fork in the road in a few days which is a resignation, or risk getting fired. The only thing they get is their pay for a few months while they are not working. They get paid until September (if you believe that). If that is your description of a severance package its really nothing more I can say. For the IRS people who signed it, they were told they can't leave until May so their so-called severance packages are very limited. Also, the government is not even funded so most think they won't get paid for that time anyway. The king will just say "my bad, we have no more money". Again, the one side thinks it's funny until it hits them. Those right-wing legislators are catching hell in their districts, so we shall see. If WMAL told you there is something else which you deem a severance, they are lying. You are talking to someone here on te ground who is directly looking at what is going on and knows the people impacted.
Post: Washington D.C. Prices Are In The DOGE House - Are Prices Dropping ?
- Investor
- Fort Washington, MD
- Posts 1,209
- Votes 1,609
Quote from @Ken M.:
Quote from @Mark Cruse:
Quote from @Jay Hinrichs:
Quote from @Mark Cruse:
Quote from @Jay Hinrichs:
Quote from @Mark Cruse:
I'm not sure how many are being laid off in the DMV but depending on how many, how could it not lead to a barrage of negative impacts? This region is heavily drenched with federal employees. Aside from multiple people slipping into anxiety, misery and depression, it can clearly lead to a substantial degree of foreclosures. With a very high costs are so many are stretched to the limit. Knocking their livelihood out from under them with no notice is not only demonic and cruel, but t creates chaos.
Are they not getting a severance package .. I seem to think i read that .. And layoffs happen in the private sector all the time.. I mean look at Intel.. my daughter works or did work there for 22 years .. and then poof they layoff 15k employees .. how is this any different.. If these folks have skills and work ethic they will end up employeed start a business or some other Venture. My Daughter got head hunted and never missed a day.. She actually got a HUGE promotion on the Intel spin off division that left Intel.. But Yes if you come to work one day and your pay stops that day with no severance and have to go on unemployment ( if they are allowed unemployment) and food stamps and whatever other social programs while they get new jobs ?
Not sure where you heard any notion of severance package. Many are not even sure if they will get paid anything. The IRS employees who signed up were told they can't leave until May. I don't know all the dynamics with your daughter so I can't compare. No one knows what will happen in the DC region, but applying logic and observing past trends, if a significant number lose their jobs with zero notice, it most likely will trigger foreclosures. DC is very expensive and so many of these workers live check to check even though they make decent money. That is reality. I hope it doesn't but clearly it could be the case. I believe there will be major market decline due to other things, but I hope not.
from what I have read and of course Media bias is slanted one way or the other.. Those that are in their probationary period IE not yet fully vested if they are not signed on then they are terminated just like anyone else would be if working in the private sector. Then those with tenure but choose not to go to the office can take the buyout which includes the severance.
I mean companies layoff folks all the time.. why is this any different especially with how un efficient government is.. I mean I work with these folks I understand the difference between private sector and govmit employees.. My bank a few years back was bought by a bigger bank and same thing happened to alot of the employees .. One day without even knowing the bank was for sale.. the next day they are notified the bank sold and the new bank is bringing in their own people. Its just the risk people take when they work for any other company other than themselves.. WE see it on BP all the time.. Folks talking about how much they hate their job I am sure their employers would love to know their real feelings. Will see how it all shakes out. I also wonder how this is going to affect Section 8 you know those with 100% vouchers that basically never work or will never work.. I can see govmit making a condition that tvhey must try to get employment at least.
There is no severance of any kind period. I have an idea which news slant you are listening to in order to hear something like that LOL. In firing people on probation, it tends to play out much different under normal circumstances. I have never heard of mass firings done in the most chaotic and incompetent way. People are being fired for sport as though it's some pleasurable reality show game. People are devastated with some on the verge of suicide. Thousands of people are having their lives all out destroyed, and a cult is cheering their leaders as though it's some Olympic game in the Roman Coliseum. People have relocated from across the nation for some of these positions and have nowhere to go or nothing to do. People have mortgages, kids in college, caring for elderly parents or kids with special needs/ Many of them now have no idea what life is brining for them in the near future. This is funny and cool to one side until members of that side get impacted. This is what's happening now. For them, it's not some nonchalant that's how it goes element. Most only assumed it applied to a specific demographic of society so it would be seen as more humorous or acceptable. Al in all, its relative. Either you feel its ok and no big deal or you recognize the pure degrees of despicable disgust. There has already been one suicide of a grade school little girl due to some of this demonic madness. I don't know what else to say. Overall, it's a very great chance of there being mass foreclosures and like I said, I would not be surprised of the market having devastating down turns. I hope not.
.
Your comment "There is no severance of any kind period"
It's not "sport" it's necessity. We've spent too much.
"On Wednesday, a federal judge ruled in favor of the Trump Administration by restoring the president’s offer of an 8-month buyout for all federal employees if they agree to resign."
"Due to the delays in the program’s expiration date as a result of the legal challenges, over 75,000 federal workers were able to accept the offer."
Of course. No matter what the leader said is necessary, the followers will repeat.