Notices by done (done@mastodon.social)

@BethanyBlack isn’t catholic God they/them since it’s a trinity

@alice it’s no pirating, it’s distributive archiving

@jeffowski what the actual f*ck…. The hate propaganda machine is rooted so deeply in these simple minds.

@ryanhoulihan sometimes the plague misses its cue, and you get to actually enjoy life for a little while!

@SwiftOnSecurity this was a fantastic Veritasium video. I got kind of emotional watching it, and yeah I wish Shuji Nakamura was more well recognized for his contribution to modern society, but I guess it’s videos like this that start that process! I hope he also finds success in the micro-led and fusion fronts. Truly inspiring story, thanks for sharing!

@freemo @artemesia @evacide not a problem, this is more of a summary of my rabbit holing trying to answer the question you posed, because although I don’t agree with how it was posed, I think it does warrant addressing.

@freemo @artemesia @evacide if youre still reading… the valuation and rating of CMBS does follow both the concrete valuation of the property, as well as the stability and risk of the loan based on the long term income of the commercial property. Both the borrower (landlord) and bank prefer “anchoring tenants” that increase the retail appeal of the property as well as ensure long term income and tenet reinvestment. 8/?

@freemo @artemesia @evacide I’m going to go ahead and disqualify myself as any sort of authority here, I’m not a finance person. I’m working off me diving down this rabbit hole and wasting part of my life in order to understand this particular banking structure. Anyways, so the surface level assumption that lease rate control in order to maintain property valuations does seem like it should warrant skepticism, but it doesn’t invalidate the claims alone 7/?

@freemo @artemesia @evacide the potential for a similar crash in CMBS values is there, however obviously the property values differ, and the terms between borrower and loaner are therefore more highly scrutinized, or liabilities are managed through mechanisms, such as lease rate control. There is (probably) less predatory subprime lending, but banks need to still have marketable features in order to incentivize investors to purchase a CBMS. 6/?

@freemo @artemesia @evacide it requires significant capital to build and mortgage these properties, which is why they are also corporately owned, investors usually buying into the company but not the properties specifically. The mortgages on these commercial and office properties are on a completely different scale than small business. These are the mortgages which are classified as commercial mortgages, a classification made by the lending institution 3/?

@freemo @artemesia @evacide loans for commercial mortgages, similar to residential mortgages, are often then repackaged into Commerical Mortgage Backed Securities, much in the same way that retail investments were repackaged and sold. The finer details are not known to me, but one difference is that the consequences of foreclosure and therefore market risk is on another scale. 4/?

@freemo @artemesia @evacide if we look back at the 2008 financial crisis, we can see a glimpse of what happens when a chain of defaults, foreclosures and the subsequent devaluation of residential properties leads to a chain of events that result in massive devaluation of the property, followed by the massive devaluation of the mortgage backed securities, and subsequently any and all investment devices peripherally related or composed of said RBS’s 5/?

@freemo @artemesia @evacide I’ll operate in good faith and assume that you are genuinely curious. Your personal experience I assume goes into small business loans and residential real estate. I presume your experience does not go into either multi story office spaces or multi unit retail spaces. Most are corporately managed, and due to the significantly greater property values of shopping malls and office spaces are also not owned by small investor groups. 2/?

@freemo @artemesia @evacide stumbled upon this thread, first off I understand your experience doesn’t reflect the situation being described in the article, but you have to realize for any outside observer this is a logical fallacy. You’re placing a burden of proof based on your lack of personal experience to validate what the article proposes, and you’ve provided no evidence except anecdote. So please be aware that it comes off as contrarian.
1/?

@kofanchen @knutson_brain @arstechnica oh crazy! This is fascinating, thanks for sharing! For the light readers, here’s a summary of the paper https://www.rockefeller.edu/news/33135-fruit-flies-move-their-retinas-much-like-humans-move-their-eyes/