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That's correct. Homeowners need to brace for higher property tax rates, just like what happened during the last crisis - I remember mine almost doubled from 2007 to about 2013. Municipal governments need to keep those gold plated benefits and pensions for their workers with fewer homeowners...

High priced homeowners ($1m+ homes) were already feeling the heat last couple of years because of the SALT rule. There was a 24 month inventory built up in the high end towns in my area. Now after coronavirus those are all but unsellable. Ive been seeing more foreclosures coming into the spring...

This includes businesses. A friend of mine who manages a portfolio of commercial properties in and around NYC told me he is unable to collect rent from about 50% of tenants right now.

Ouch. Hope you have a day job or a working spouse and hope you recover financially eventually. I don't have a day job and my business is practically dried up so I am making preparations to rely solely on income from trading my personal savings from now on (gulp!)

Unemployment rate is projected to approach 30%. And a vast number of businesses will not survive the shock. We have not even seen a glimpse of what is to come - think of this as post 2008 on steroids. 2.3 Trillion from the fed cannot avert a deep and brutal recession that is coming.

Today Dr. Fauci said with some trepidation that schools might be able to re-open in September. This state of limbo we're in will likely last through the summer, at least. I shudder to think what happens to the economy if that is the case.

there is no benefit to OPG or MOC when the security is thinly traded. I was trading a strategy in thinly traded CEFs a couple of years back. Backtest looked great but out of sample was very different. Turns out I 'became' the market to some degree.

maybe this will make the Chinese appreciate vegetarianism/veganism in the future

I've asked TDA about this and they said it is what it is. I trade micros at IBKR.

fast recovery? I don't think so. Economic data was suggesting a recession was coming this year even before the virus was born. Numbers like unemployment gap, real fed funds rate, yield inversion, leading economic index, aggregate weekly hours, real retail sales, etc. These had all been flashing...

Wonder what happens if the virus does not abate for weeks and weeks, like sometime in June? Does the govt have any contingency for that besides printing $2T each two weeks? Methinks we are approaching the debt endgame.

The govt has the next 4 weeks to make sure all this money makes its way into the economy before the April and May rents default. If it fails to do that,commercial RE will collapse and start a domino effect that will take down other RE sectors and everything else after that. I believe there's a...

chill its still early in the day

noticed my TDAmeritrade account is being debited daily now because I am in 100% cash

"short but sharp recession"? I don't think so. Wasn't there economic consensus even a year ago that the global credit cycle will end in Q1 or Q2 of 2020? If anything the virus is the catalyst that opens the floodgates. There will be a very deep and long global recession or even depression...

I trade the MES, MNQ, M2K, MYM intraday. I'm scaling 0 to 10 lots of each with no issues.

I don't know but it feels a bit like the time just after the Bear Stearns liquidity injection and prior to Lehman. The fed was getting hyper involved in keeping credit flowing while hardly anybody noticed.

looking at your old posts - it must have been you!

I don't do that particular strategy but I remember a guy a few years ago on ET that was doing that with penny stocks on the Vancouver exchange, mostly gold mining stocks. Are you doing low float penny stocks or known names like NEM, CDE, etc?

It will reverse and move up strong pre-market and will open slightly up or slightly down. Major gap downs are usually a result of macro economic news like failed trade negotiations.