What My 10,000 Tenants Tell Us About The Economy
https://youtu.be/bhagdx3ARj0?t=255
4:14
So in our portfolio over the last two months,
4:17
I kind of did a review on the numbers and about
4:20
seven 17% of our resident move out
4:24
reason is eviction or step over 19%.
4:28
So how does that compare to year over year averages,
4:32
Like like if we were to go back five years?
4:35
it's definitely quadrupled.
4:37
I mean, I think the prior was probably a three
4:41
or 4% for an entire portfolio or company like us.
https://youtu.be/bhagdx3ARj0?t=587
9:47
or of course, some applications do come back declined.
9:50
So, okay, going back to prior years now, are we seeing more?
9:53
Number one, I was seeing more applications decline.
9:56
But number two, I'm also we're also seeing a big jump in fraud.
9:59
Yes. In other words, we're starting to see people actually go
10:03
and fabricate W-2s and do all the stuff and say they have jobs.
10:07
So all of this new all of these things are starting to be new to us.
https://youtu.be/bhagdx3ARj0?t=663
10:51
So in the past, people would not actually even apply
10:57
because if, you know, you have bad credit or maybe some kind of a criminal history
11:01
and we said, hey, we need to fill out an application, we're going to run this
11:05
through a third party.
11:06
They would just politely not call you back.
11:08
Right?
11:09
But today, we're they're actually running these,
11:11
just trying to figure out a place to live, right?
11:14
Yes, they are very different now.
11:16
They're they're actually challenging.
11:18
Had said, okay, I know I have all these problems,
11:21
but I still see if I get it, it's very different.
11:23
It was never that way just a few years ago.
11:25
I would agree with that.
11:26
Our decline rate is definitely increasing, but you're seeing that due
11:30
to the challenges of the economy and what people are up against.
11:33
Right.
11:34
And this is a stuff that just doesn't show up in the headline.
11:37
Right.
I've seen a lot of stuff like this over the past 15 years and things seem to snap back. What seems to not have happened over the past 15 years until now is the inversion and steepening of the yield curve.
While the periphery breaks down rather slowly at first, the capital cities of the hegemon should collapse suddenly and violently.
