Trend: car sales affect (by BRAD 20,000 [IN]) Jun 30, 2022 11:29 AM|
Trend: car sales affect (by Richard [MI]) Jun 30, 2022 12:58 PM
Trend: car sales affect (by Ray-N-Pa [PA]) Jun 30, 2022 3:20 PM
Trend: car sales affect (by Sisco [MO]) Jun 30, 2022 3:26 PM
Trend: car sales affect (by RB [TN]) Jun 30, 2022 4:34 PM
Trend: car sales affect (by GKARL [PA]) Jun 30, 2022 5:35 PM
Trend: car sales affect (by MikeA [TX]) Jun 30, 2022 6:01 PM
Trend: car sales affect (by zero [IN]) Jul 1, 2022 8:41 AM
Trend: car sales affect (by Oregon Woodsmoke [ID]) Jul 1, 2022 12:08 PM
Trend: car sales affect (by S i d [MO]) Jul 1, 2022 12:48 PM
Trend: car sales affect (by Nellie [ME]) Jul 1, 2022 10:01 PM
Trend: car sales affect (by Barb [MO]) Jul 2, 2022 8:02 PM
Trend: car sales affect (by Robert,OntarioCanada [ON]) Jul 3, 2022 6:07 PM
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Trend: car sales affect (by BRAD 20,000 [IN]) Posted on: Jun 30, 2022 11:29 AM
Today's headline: Car sales by unit are down 17.2%. And that's down from the already fewer sales during pandemic.
Why is this important to LLs?
Much of industry centers on supplying components to auto makers. MY residents are making tailpipes, mufflers, transaxles, wheels, suspension brackets, door handles, headlights, engines.
When car makers cut back the local suppliers cut back, as in layoffs or reduced hours.
That means less income for my residents
ON TOP OF the extra $326 per month inflation has cost them.
Me? Watching rent flow closely and promoting Weekly rents. It's easier for them to come up with $250 on payday than a big chunk 4 weeks away,
AND I know what's happening each Friday, not a month after they were laid off.
Trend: car sales affect (by Richard [MI]) Posted on: Jun 30, 2022 12:58 PM
Pretty much the same in northern Michigan. A few car part places (seats, and a few others) but it's a tourist area. Less tourists because of gas prices, inflation, etc. Hamburgers are $12-15, plus fries, drink, etc. Easily $50 for 2 burger plates for lunch (burger, fries and a drink/beer or two). No housing being built unless it is govt subsidized (and that's generally a scam).Rents are high and few. Landlords are tired of the govt saying they have no right to collect rent but must pay property taxes, insurance, maintenance, etc and they are either selling or going to airbnb, verbo, etc and just not doing rentals. At least the cold and the bears, wolves, dogmen and bigfoots keep the homeless from sleeping in the woods. --24.180.xx.xx
Trend: car sales affect (by Ray-N-Pa [PA]) Posted on: Jun 30, 2022 3:20 PM
My area has tier three manufacturing for the auto industry. A factory here will make sprocket components that are shipped to another factory that build the sprocket and that completed sprocket get assembled in Detroit on a line.
I was thinking of another trend that was auto related too.
Domestic Auto makers have downscaled production on the number and models of cars that they build. They make more money per unit sold when they build trucks and SUVs compared to cars. But what gets better gas mileage a car or a SUV/Truck? This will end up costing our residents even more
Trend: car sales affect (by Sisco [MO]) Posted on: Jun 30, 2022 3:26 PM
This recession will be different for auto industry because dealers currently have no inventory of new or used. Usually, lots are full when people quit buying, the plants shut down until the inventory is sold.
Will production continue 1 week per month? Some other limited schedule? Will employees stick with these hit and miss jobs? Time will tell, but I like the weekly pay strategy. --149.76.xxx.xxx
Trend: car sales affect (by RB [TN]) Posted on: Jun 30, 2022 4:34 PM
Find new roads. --24.183.xxx.xxx
Trend: car sales affect (by GKARL [PA]) Posted on: Jun 30, 2022 5:35 PM
Given my experience with the rooming house, I'm big on weekly and bi-weekly rent collection. --172.58.xxx.x
Trend: car sales affect (by MikeA [TX]) Posted on: Jun 30, 2022 6:01 PM
Yet another example of the cracks forming in the economy. Higher labor costs, inflation eating away profits, shortages, and higher interest all coming together to significantly challenge businesses. The net effect will be less payroll which will be bad for us landlords at some point in the foreseeable future. --209.205.xxx.xx
Trend: car sales affect (by zero [IN]) Posted on: Jul 1, 2022 8:41 AM
I used to have a large percentage that paid weekly, or bi-weekly. I didn't give a discount because it was more to track. I made that extra month's rent for my troubles.
Now I only have one holdout that pays weekly. Has for years. They just can't trust themselves with holding the money past a week.
I hope that it doesn't get to the point where I feel I must start charging weekly. That scares me a bit.
Have never dropped rents because of the bad economy. But then again my rents were below market by a lot for a long time.
Speaking of buying vehicles. The spouse is getting a new Highlander. It is being built now. I asked if paying cash would drop the price and was flat out told no. They have no problems selling what little they get. Doesn't look like the 0% rates are a thing any longer either. My credit union raised their new car rates as well as dropped their savings rates to almost zero. --107.147.xx.xxx
Trend: car sales affect (by Oregon Woodsmoke [ID]) Posted on: Jul 1, 2022 12:08 PM
Around here, auto sales are down because the dealers can't get their hands on any new cars to sell.
But I can see how that affects the jobs of those who build cars and can't because they can't get the computer chips.
The economy is posed to do something, but I'm not confident about my guess on just which way it is going to jump. --76.178.xxx.xxx
Trend: car sales affect (by S i d [MO]) Posted on: Jul 1, 2022 12:48 PM
Sobering thoughts to be sure.
This is one reason I like being in a city with a diverse economy. Yes, fewer car sales will hit some, but we have diversified manufacturing, two major hospital networks, university, government (county seat, 3rd largest state), insurance, law, retail, restaurant, tourism, etc. I would never want to be in any economy where one industry slowing down would slam the brakes on more than 5% of my resident's income.
Something to think about: screening for diversity of income types.
I am about 50% converted over to Buildium now, and as that progresses I can now auto-draft weekly rents and/or accept pay cards/credit cards. I used to have concerns with credit/debit cards due to claw back potential, but this platform solves a lot of that. All payments are user initiated on a password protected account, making claw backs VERY challenging for them to prove that any charges aren't legit. They set up the password; they set up the payment method; they initiate the payment. Hard to prove any of that wasn't their doing since everything is date/time/user stamped in a secure database.
Trend: car sales affect (by Nellie [ME]) Posted on: Jul 1, 2022 10:01 PM
In my opinion, auto parts manufacturing may be more recession proof than usual because there is such a need for new vehicles. The only exception to that is the periodic layoffs/slowdowns because the car manufacturers canít get the other parts they need. My son works a company that makes bearings and other parts for Toyota. So they have weeks of not working Friday because Toyota canít use more parts because they are waiting on chips. But a couple of weeks later they are working overtime on Saturdays because Toyota has gotten their other parts or they are low staffed (certainly part of the problem). But the company just gave an across the board raise of $3/hr due to the employee shortage. So there is that. Expect car prices to continue to increase. --76.179.xxx.xx
Trend: car sales affect (by Barb [MO]) Posted on: Jul 2, 2022 8:02 PM
The U raised perm staff rates last week, some by as much as $3 per hour. The hospital canít hire enough people for all their positions.
Iíve raised all my rents a bit.
Still using Clearnow for most of my rent collection.
Iím using QuickBooks (at the request of my accountant) and can accept credit card payments or direct bank transfer that way. --149.76.xxx.xx
Trend: car sales affect (by Robert,OntarioCanada [ON]) Posted on: Jul 3, 2022 6:07 PM
The high price for a liter or Us gallon is not going to down any time soon where the auto makers have to start to think about making vehicles that will go further on a tank of gasoline. A full size pick up takes around 100 liters of fuel where will use 20 liters for every 100 kilometers of driving which means a tank of fuel will only go 500 kilometers per tank full or 300 miles imperial. Filling up will cost $200 dollars. Seen many full size pick up trucks for sale here at depressed prices as people want to get of them. Is it really matters how fast to go from 0 to 100 km/ per hour or haul weight when it is so costly to operate. To make matters even worse those adapters where wheels stick out reduce fuel economy even worse as the aero dynamics cause more drag. --216.110.xxx.xxx
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