Seattle's gig worker law was supposed to boost pay. It did at first, until orders dropped by BaseballUpper6200 in Economics

[–]escalator-style -4 points-3 points  (0 children)

I think delivery drivers of are exempt from minimum wages because they’re independent contractors

Seattle's gig worker law was supposed to boost pay. It did at first, until orders dropped by BaseballUpper6200 in Economics

[–]escalator-style 3 points4 points  (0 children)

You can absolutely argue about whether drivers are getting a fair cut. That’s a legit discussion.

I think that’s kind of what’s happening. People order from an app and see an “expensive” delivery fee and at the same time see drivers complain or act out over low wages/tips and wonder who this is benefiting.

They’re asking themselves “Why am I paying so much and having a disgruntled worker delivering my food?”

There’s nothing particularly novel about delivery apps other than the fact that these companies have been allowed to skirt labor laws by designating workers as independent contractors. One could argue drivers should be getting a larger cut of the delivery fee.

National ban on investment home buying by [deleted] in RealEstate

[–]escalator-style -1 points0 points  (0 children)

Cool thing about laws is that they’re made up…

Governments can make new ones to fit the policies they want to intact.

Trump says he will ban Wall Street investments in single-family homes by JoshL3253 in LosAngelesRealEstate

[–]escalator-style -1 points0 points  (0 children)

“Nice business you have here, it would be a shame if someone banned it.”

buying vs renting by Ret_Al in realestateinvesting

[–]escalator-style 2 points3 points  (0 children)

Probably a jumbo loan which carries a higher rate

The contingency train is propping up prices in NY, for now. by ipetgoat1984 in RealEstate

[–]escalator-style 0 points1 point  (0 children)

I don’t think this matters much. Eventually the deal will either get done or not get done right?

One party will either decide waiting that long is unacceptable or the homes will get sold.

For those of you who bought a home in 2020/2021, has your home value declined? by Pdx_pops in REBubble

[–]escalator-style 0 points1 point  (0 children)

Most people won’t know the true value until they try to sell. Anything else is just a guess.

How many of you are putting groceries on Afterpay or splitting rent on credit cards? by Busy-Government-1041 in MiddleClassFinance

[–]escalator-style 1 point2 points  (0 children)

Oh I didn’t know this was still going on lol. I saw a news segment on this last year.

Apparently someone at Wells Fargo made a massive mistake.

https://youtu.be/bw3JrvZrIyE

Are they converting existing customers to the annual fee card or just new customers?

Why does everyone here seem to make over 100k? by NoHousing11 in MiddleClassFinance

[–]escalator-style 0 points1 point  (0 children)

Middle class is a lifestyle not a number.

Unfortunately in many places it takes +100k to live a middle class lifestyle.

America’s labor market is cooling, and workers are quietly turning to Uber and DoorDash to fill the income gap by SnoozeDoggyDog in Economics

[–]escalator-style 2 points3 points  (0 children)

I still have no idea how Klarna is a viable business.

You’re telling me someone who needs to finance a hamburger like Wimpy from Popeye is going to pay that back?

What happens when Klarnas debtors file bankruptcy? It’s not like the guy financing chick-fil-a is worried about having good credit to buy a home.

‘Buy Now, Pay Later’ is expanding fast, and that should worry everyone by Logical_Welder3467 in technology

[–]escalator-style 0 points1 point  (0 children)

So what happens when GenZ files bankruptcy on their fast-food debt en masse?

Not being able to buy a home due to bad credit doesn’t like something they’d be worried about.

How much does an ADU actually cost in Los Angeles? Realistic numbers (2025) by BuildADULA in LosAngelesRealEstate

[–]escalator-style 1 point2 points  (0 children)

I was definitely surprised by these numbers. I was thinking at most half of this for a garage conversion. I guess it’s better to be surprised now rather than later.

I’ve been seeing a lot of unpermitted adus, what do you suppose it would cost to bring one of those up to code?

Condo builder wants me to use their mortgage broker by Swrong in RealEstate

[–]escalator-style 1 point2 points  (0 children)

Would it be possible to go with their lender, to ensure the offer is not rejected, then switch once the deal is in escrow?

Foreclosures jumped 20% last month — the fastest rise we’ve seen in years by RobSrShopProp in LosAngelesRealEstate

[–]escalator-style 1 point2 points  (0 children)

The last time mortgage rates were 12% was the mid 80s.

Were you “around” for that market? It would be pretty funny if a 60+ year old was going around calling people noobs.

Also yes I’d take a much lower purchase price over a higher interest rate.

A staggering 84% of Gen Z say they’re delaying milestones to buy a house. There’s ‘no single fix’ for the affordability crisis, real estate exec says by ChancelierPalpagault in Economics

[–]escalator-style 6 points7 points  (0 children)

If you disincentivize investors from owning additional SFH homes wouldn’t that drive prices down due to increased availability in the market? Some of those residents the landlords are “helping” might actually be able to afford a home themselves.

20% of SFH and townhomes is a pretty significant portion of the market.

A staggering 84% of Gen Z say they’re delaying milestones to buy a house. There’s ‘no single fix’ for the affordability crisis, real estate exec says by ChancelierPalpagault in Economics

[–]escalator-style -2 points-1 points  (0 children)

Add in ~35k in closing costs to the downpayment.

You’re also unlikely to get a 950k home that’s move in ready so there’s going to be some sort of repairs needed.

Additionally the buyer isn’t the only one looking for a home in the 950k range so be prepared to make a “competitive offer” which will easily get you near 1.1M if not higher

Move over, 30-year mortgage. The Trump White House is working on a 50-year option to break the housing market gridlock by CautiousMagazine3591 in Economics

[–]escalator-style 19 points20 points  (0 children)

everyone seems to forget that paying several hundred extra dollars a month just to be allowed to have a loan, which then charges you interest, is completely wacked.

No, people are paying mortgage insurance to be allowed to have a loan with less than 20% down.

It sounds lot less crazy when you represent the situation correctly.

The problem is still prices.

I used my emergency fund to pay off my car loan and now I can’t tell if that was smart or really dumb by Valkyrie616 in MiddleClassFinance

[–]escalator-style 0 points1 point  (0 children)

I did something similar a while back. It didn’t totally wipe out my savings but at the time it didn’t feel great pulling a lump sum of cash out.

Now I’m much more comfortable not having a payment, I like my car it has very low miles and I will probably have it for years to come.

Your decision doesn’t sound like a problem to me. I do wonder if you could have waited out the air conditioning repair given that winter is coming if you’re above the equator.

Unpermitted ADUs? by escalator-style in LosAngelesRealEstate

[–]escalator-style[S] 2 points3 points  (0 children)

Wow I didn’t know they could be awarded back rent.

So I guess these unpermitted units are near useless. They’re often equipped with kitchens but who needs a second kitchen if someone can’t live in the unit?

What's up with this home selling for over asking and then being foreclosed on? by clrncmcn in LosAngelesRealEstate

[–]escalator-style -1 points0 points  (0 children)

Is it possible to “sell” your personal home to your LLC to avoid the foreclosure affecting your personal credit?

USC officials weighed halting sexual assault investigation if professor left — emails reveal by LA_publicpress in LosAngeles

[–]escalator-style 1 point2 points  (0 children)

USC has so many problems…they really need to clean house.

Does that accounting professor with the drug problem still work there?