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my newsletters --
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Will Green Auto Market continue being published?
It’s on hold for now. You can see the latest edition in its present state with a little bit on why I’m putting it on hiatus; and another item on the popular and controversial Tesla CEO, Elon Musk.
Will this newsletter replace the blog?
Not really. Just a collection of short writings on subject matter I find fascinating and amusing.
Will there be a place for guest columns?
Absolutely. The last version of this newsletter that finished up about 16 years ago featured regular guest columns by friends of mine. They were quite good, and covered topics like how to do some good fishing out at sea, a writer who shared his theory of love, and poems and essays on whatever topics they were passionate and obsessed with at that time.
Is there another book coming out?
Yes. More on that one later. I really don’t know when it will be coming out, as my life is a bit hectic right now; and writing, editing, publishing, and promoting a book is a really big, demanding project — as I found out with Tales of UberMan.
What’s your new job?
—Editor of a transportation newsletter
—Communications manager at a Cal State university campus
—Public safety dispatcher at a law enforcement agency
—Manager at a Tesla retail store and service shop
—Market analyst at a consulting firm in Orange County
What can I read about in this issue of the newsletter?
— Looking for a place to rent or buy? Opportunities will soon be rising for ominous reasons as housing gets hit hard
—Did you ever get hooked on writing?
—Planet of the cats
—Fun stuff, at least for me
My favorite conspiracy theories during a very big year
Looking for a place to rent or buy? Opportunities will soon be rising for ominous reasons as housing gets hit hard
- The Wall Street Journal reports that federal and local eviction moratoriums have protected many Americans from losing their homes this year, but they’ll be expiring soon. Renters will be on the hook for missed payments — which is expected to reach $7.2 billion by the end of the year, based on a study by the Federal Research Bank of Philadelphia. Renters missing payments will be meeting up with homeowners missing mortgage payments; analysts predict mortgage foreclosures could reach into the tens of million of people potentially caught in debt — far exceeding the 3.8 million homeowners foreclosures during the economic crisis of 2007-2010.
- More than 2.3 million homeowners – five times the number entering 2020 – remain 90 or more days past due, but not in foreclosure as of Sept. 30, 2020, according to Black Knight, Inc., a real estate data and analytics company.
- Early-stage delinquencies have been showing improvement recently, but it’s not looking like a real improvement overall for the market. Both foreclosure starts and foreclosure sales continue to remain muted given the widespread foreclosure moratoriums still in place, and that will be changing soon. Those moratoriums will also be lifting for renters by state governments, as you can see in the next table.
Hold on Evictions
Until 11/20/20; but Denver has hot placed a hold on evictions
Not overall in state, but Boston has a hold until 12/31/20
Until emergency, plus two months
Court has allowed residents to file claim for their hold being extended
Until end of emergency (11/15/20)
- All the other states have not put a hold on evictions of delinquent tenants. For those that have done so, the hold will be lifted very soon, primarily from November through January.
- Another study shows that Arizona, Texas, Tennessee, and Florida have been feeling the impact. In Princeton University’s Eviction Lab, Phoenix has the highest eviction total in the study since Covid-19 began, at 13,760 filings since March 15, 2020. Houston followed at 13,207, and then Memphis at 7,024, Ft. Worth, TX, at 6,623, and Tampa at 4,619.
- Arizona residents are protected by an eviction moratorium, but that will be changing soon. Recent analysis by the global consulting firm Stout Risius Ross calculated that in the absence of an eviction moratorium 365,000 Arizona renters could face eviction by November, or about 40 percent of all renter households, which is in line with the national average.
- The cities represented in the university’s Eviction Tracking System (ETS) are cities that have the data infrastructure that allow the lab to track evictions on a weekly basis. The Eviction Lab expects once the temporary eviction moratoria have passed, millions of renters will owe significant amounts of back rent. For many people, the displacement and eviction crisis will fall hard on them in the shadow of the public health crisis.
- So how long does it usually take for foreclosures and tenant evictions to take place? Several months for homeowners, with mortgage holders receiving a notice of default 30 days after missing the fourth monthly payee. The borrower then has two-to-three months to reinstate the loan and stop the foreclosure process. So we’re talking six months to a year for those missing mortgage payments to have to walk away from their house.
- In actuality, an eviction is usually a lengthy legal process. It starts with an eviction notice, frequently in the form of a Pay or Quit Notice, and if necessary, culminates in an Unlawful Detainer, which is carried out by local law enforcement. Depending on the state, eviction can take place in as little as two weeks and up to three months in states where the process has many more steps; but we’ve all heard stories of that eviction taking much longer as the rental unit sits there for several months with a sheriff’s notice taped across the front door, but without the owner entering the apartment to start preparing it for the next renter.
- Baby boomers have enjoyed much better financial status than their parents, but not all of them. Those born in the later generational years have faced much tougher competition in the workplace and less opportunity for those good-paying jobs and early retirement — following the huge population surge just a few years ahead of them. The Bureau of Labor Statistics projects that by 2026, 30 percent of 65-to-74-year-olds will still be in the work force, up from 17 percent in 1996.
- Quality of life will be getting worse for many, according to a recent study by a team of researchers led by Dennis Culhane, a professor at the University of Pennsylvania and a recognized expert on homelessness. Over the next 10 years, the number of elderly people experiencing homelessness in the US could nearly triple, as a wave of baby boomers who have historically made up the largest share of the homeless population ages further.
Did you ever get hooked on writing or another creative discipline?
If you do get hooked on writing, you'll need
to keep it going -- or else writer's block sneaks in.
But I keep on keepin’ on. Since I learned how to type on mother’s typewrite as a child, and started keeping my first journal as a teenager, I have written millions of words. Some of it published, or self-published, and much of it sitting in a text document and stored away. I’ve co-authored a book with other writers, I’ve self-published one of my own, I’ve had editor jobs, and hundreds of freelance articles published.
Planet of the cats
Fun stuff, at least for me
—Whale watching: If you live near Balboa Island in Newport Beach, there are trips you can schedule where you’ll sit separated from other passengers as the staff takes you out on the bay and then out to sea. The last time I did it, back in February, there were no whales to see. It was still fun to take the boat ride and hang out with seals and dolphins. This one will be better, we hear.