That is exactly what I am doing. Until my area goes into lock down because of those who do not view it the same way, I am still going for walks but will not get closer than 6 feet to anyone, and will not touch anything.
I've cancelled non-essential things, especially if they involve close contact, such as getting my nails done. I don't routinely go to get my hair done anymore - wear it braided which I do myself.
The malls and retail stores have closed, and the local grocery has special seniors hours.
There is obviously no easy answer to that, as a previous landlord (ironically of a second property single family home) myself I have been asking myself how I would have dealt with this if I still had my property at this time. If the government had frozen loans and I had no payments due on my property in theory, I would only lose in depreciation of my asset and that would be tax deductible.
If they did not, in all honesty, in my situation I would have just eaten the cost of the lost rental income if the government did not subsidize it as it was not my main income and I could write off the cost. My final tenant I basically did that anyway as I nearly had to evict him and lost a couple months rent anyway.
The larger question would be if rental properties are your primary form of income. It would be tough to eat that cost, but ultimately again if loans were in essence frozen the only loss during that time span would be two months depreciation as you would have no payments due on the property itself at that time and maybe some maintenance. The bigger issue would be income to buy food and pay some bills. If the government sent a check that would mitigate at least some of those issues.
There is no quick fix to any of this. But just some thoughts.
And people have job security as well.
Wow, thank you.
You must have friends and family as a backup network. I have friends and family members that have lost their jobs and have no income. I have reached out to them and have provided them with cash and other needs. The offer I've made to them is for the duration, however long it may take. I am fortunate in that my resources are rather deep and I have an emergency fund I can tap if needed. After all they helped me plant and harvest my corn so it is now time for me to help them in their time of need:Just saying...you cannot shut down an economy for months and expect people to be okay with that, or businesses. Because they will not be, no matter the risk from the virus. It just isn't a real solution. Weeks, okay I get it, lets do this...but after that....
I don’t think too many businesses that are running out of cash to pay employees and keep the lights on are worried about their accounting books. It’s really no different than taking a short term loan. After losing 4-8 weeks of business most of these guys will be showing a loss come year end anyway.Just have to be careful with the accounting of that as the gift card sales aren't revenue they trigger a recording of a liability, it generates cash, but puts their balance sheet upside down when you're using the liability to pay short term current wages if they need any financing down the road. There's no way to "pay back" the "loan" until the services are rendered and it converts to sales recognition.
Livee in IL as well. Wife’s work closed at end of business today. I work for an essential service and report to work M-F. We have probably 1/3 of our employees working remotely. Every generation has its trials and memorable challenges/ sacrifices. Works Wars, the Great Depression, 9-11. This one is affecting 3 generations of my family in one way or another.Illinois is shelter in place now and most businesses ordered closed till early April. The order does specifically state you can go out to exercise, walk, run or walk the dog but to stay 6 feet from other humans. I noted this week the few times I did go out into public places people in lines were self regulating and staying more than 6 feet from each other in lines.
And then the news today, one of the last remaining grocery store chains and at certain store told their employees that they could not wear masks or gloves. Many of the cashiers are elderly and most baggers are special needs individuals. Reason, it doesn't look good and may scare the customers. Oy.
Same for us. I'm a stay-at-home mom of 2 autistic boys, hubby just got laid off with no certain return date. My mom and step-dad and my mother-in-law and her live-in boyfriend are all at high risk for severe symptoms, as is my husband. (We're not in IL though.)Livee in IL as well. Wife’s work closed at end of business today. I work for an essential service and report to work M-F. We have probably 1/3 of our employees working remotely. Every generation has its trials and memorable challenges/ sacrifices. Works Wars, the Great Depression, 9-11. This one is affecting 3 generations of my family in one way or another.
Prayers for you and you family.Same for us. I'm a stay-at-home mom of 2 autistic boys, hubby just got laid off with no certain return date. My mom and step-dad and my mother-in-law and her live-in boyfriend are all at high risk for severe symptoms, as is my husband. (We're not in IL though.)
Thank you. I'm just grateful that the way hubby's boss is talking, he'll DEFINITELY be returning to work, it's just a matter of when.Prayers for you and you family.
Yeah...pretty sure that wouldn't work where I live...just getting people to leave enough space while in the checkout line is proving to be easier said than done.I heard in some parts of the world, they implement social distancing when doing grocery shopping, meaning they only allow a certain amount of shoppers inside while the rest queues outside (with distance from each other). I don't think I have the patience for that as I want to go inside immediately and the only queue I will tolerate is at the checkout.
The idea of being scanned for my temperature before rising public transit, going to a broadway show, etc. is just creepy to me.
I heard in some parts of the world, they implement social distancing when doing grocery shopping, meaning they only allow a certain amount of shoppers inside while the rest queues outside (with distance from each other). I don't think I have the patience for that as I want to go inside immediately and the only queue I will tolerate is at the checkout.
I heard in some parts of the world, they implement social distancing when doing grocery shopping, meaning they only allow a certain amount of shoppers inside while the rest queues outside (with distance from each other). I don't think I have the patience for that as I want to go inside immediately and the only queue I will tolerate is at the checkout.
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