Cottage Report - July 29, 2020

Perfect weather, and no bugs.  I'm sitting before an empty lake.  Apparently you can rent your cottage out for a huge amount, but nobody is doing.  Who wants your cottage filled with covid?

ps.  from the neighbour

ps.  the fish was good, but Sunday we are all stuck in the tiny tin shack waiting for the rain to stop.

pps.  had to come home Monday.  No traffic.  Cold at home, and we got 8 inches of rain.  The bean supports fell over in the soup of our garden.

Banks apparently hiring debt counselors

This is a report of scurrilous gossip from unnamed sources.  

Housing prices have gone underwater.  We have a full crash, and monster houses are being cut in half.  Yet, we have no word of anything.  In last crash, banks seized everything, but now it's nothing.

Physics demands an answer.  What goes up, must crash down.  Nobody has put in their mortgage payments for the last six months.  What are banks doing this time?

They are in full-scale debt counselling mode.  Somebody has a $2k per month payment, and they've stopped paying.  Could you go down to $1K and stay in the house?  Banks need more people for that, and they used to hire ruthless mortgage stern faces.  Now it's touchy-feely people.  

Not that any of this is actually happening.  It's not at all like the Japan 'bad loan' scandal, where the banks hid all their bad real estate loans.  No, not at all.  

So, if you are a warmie English major, get in touch with your local bank.  If you are expecting the housing crash to be identified by bank sales, keep dreaming.  The first foreclosure, and the house of cards comes tumbling down.

ps.  this is exciting for me.  Two years ago I called a housing crash when the frothy Chinese money-laundering stopped.  There was no money in the market.  Yet housing staggered on like the living dead.  This is impossible physics for a speculative commodity.  You can't go from 'zooming' to flat, because too many people are stuck with 2 houses, equivalent to margin calls.  People were sucked in to buy, and covid was the final blow.  Now, it will be fun  interesting to watch physics assert itself, which is sad and depressing.  These days nobody does physics, and the only result is disaster.  I'm in a depressing business, time to take my happy pills.  :)

pps.  Do not do this!  If you are strung out, only put down 5% down, or whatever, don't stop paying your bank. Don't wait 6 months.  Don't go to your friendly bank and say that since Global Warming will kill us all in 2 years, you are not having children and you don't 'feel' like paying anything.  The new English-Major hire will say that, yes, global warming will kill us all tomorrow, and have a nice day, we don't want you to pay.  :)

more:  This just in.  Press conference with a bank press president:  "Is it true that nobody in Ontario is paying their mortgages? "  Response:  "That is fake news!  I'm sure we can find somebody who is still paying."  He walks out.

Mittie goes with magic Snowball Earth solution

Reference

The cheesiest resolution to a conflict in a play is 'Deus Ex Machina', which is a magic solution from the gods.

Thus, mittie has gone for that.  The past ice ages of the earth have the exact timing of plate tectonic cycles, yet we can't use real physics, because that would set a bad precedent.  So we conjure up a great masking of sunlight. 

Perhaps the Sun can go whammy-whammy, or a great volcano produces blackout curtains.  It's all wonderful, and new students will flock to a school that invokes magic. 

No boring physics for us!  Kiss on the jammed beaches!