Cozumel COVID-19 updates

[Manatee Diver]

I wish we could've sunk one as an artificial reef. Wouldn't it cool to have one say off of Pompano?

 

[tridacna]

I think Carnival understands the future. They have scrapped 12 of their monster boats…that means scrap iron.

Dave

Actually 18 are being sold. Not enough IMO.

Carnival plans to sell off 12% of its fleet as the pandemic keeps the US cruise industry at a standstill

 

[BRT]

And the world is a better place. Too bad that so much suffering and loss had to incur to cause that.

I'm looking forward to the vaccines making travel safer. I'm sure that will be many who skip those to keep us at risk, but not as much. I'd like to see proof of vaccination required for common carrier travel as well as immigration. I'd also like to see mask or face shield enforcement at home and there both.

And whirled peas.

 

[BRT]

Actually 18 are being sold. Not enough IMO.

Carnival plans to sell off 12% of its fleet as the pandemic keeps the US cruise industry at a standstill

You have to wonder how cheap they are selling them.

 

[tridacna]

And whirled peas.

Dang. I had to think about that for a sec.

 

[Jackie Treehorn]

Wear a mask when you're walking around or around others - go get in your beach chair away from others and take it off, don't crowd into the bars or restaurants - when you're at your resort, follow those rules!! It's not that big of a deal and everyone wants you here but what we don't need here is the caviler attitude we hear of going on North of us, check that attitude at the gate when you get on the plane. We're doing great and would like to keep it that way. Come have fun, enjoy it, but please have some respect for those of us that live here.

Awesome. Thanks for the update and the U.S. politics "bubble" check. See you in a week!

 

[deepsea21]

You have to wonder how cheap they are selling them.

I'm sure there is a hedge fund out there that thinks long term and is raising private capital right now to buy them all for 50 cents on their depreciated book dollar value. 2-3 years from now a new Carribean cruise line called "Deep Blue Value Cruises" or something will open with a fleet of 18 ships that can undercut the prices of all RCL and CCL lines serving the region. When the blood is flowing the smart $ is taking advantage of the situation and buying just as it always has and always will. Remember who bought millions and millions of homes in foreclosure during the Great Recession at 50 cents on the dollar or less? Those funds have made billions of dollars for their investors.

 

[BRT]

I'm sure there is a hedge fund out there that thinks long term and is raising private capital right now to buy them all for 50 cents on their depreciated book dollar value. 2-3 years from now a new Carribean cruise line called "Deep Blue Value Cruises" or something will open with a fleet of 18 ships that can undercut the prices of all RCL and CCL lines serving the region. When the blood is flowing the smart $ is taking advantage of the situation and buying just as it always has and always will. Remember who bought millions and millions of homes in foreclosure during the Great Recession at 50 cents on the dollar or less? Those funds have made billions of dollars for their investors.

When the foreclosures started, we resumed buying houses. I don't know about 50 cents on the depreciated value. Some they are scrapping and I can tell you that scrap isn't that high.

 

[tridacna]

I'm sure there is a hedge fund out there that thinks long term and is raising private capital right now to buy them all for 50 cents on their depreciated book dollar value. 2-3 years from now a new Carribean cruise line called "Deep Blue Value Cruises" or something will open with a fleet of 18 ships that can undercut the prices of all RCL and CCL lines serving the region. When the blood is flowing the smart $ is taking advantage of the situation and buying just as it always has and always will. Remember who bought millions and millions of homes in foreclosure during the Great Recession at 50 cents on the dollar or less? Those funds have made billions of dollars for their investors.

Maintenance costs are exorbitant. These are not houses. Would take a gutsy investor to invest in these hulks. I consult for a hedge fund, this is too risky and that’s saying a lot.

 

[deepsea21]

When the foreclosures started, we resumed buying houses. I don't know about 50 cents on the depreciated value. Some they are scrapping and I can tell you that scrap isn't that high.

Well, I bet they snatch up those that are financially viable and not those being scraped.

I should add that technically, most hedge funds didn't buy homes directly out of foreclosure at auction, they bought pools of defunct non-performing residential mortgage loans in foreclosure that were bundled and packaged for sale. There was a time when a pool of defunct resi mortgage notes was going for about 33 cents on the $1 book balance owed on the first pass. Second and third passes after filtration would get down to 13 cents on the $1. Yeah, the hedge funds had armies of attorneys that had to complete foreclosure on each and every home loan in the pools they purchased but the kicker was this... Lots of those homes were virtually brand new homes built and were sold to people under the no-doc / low-doc applications that relied on nothing more stated personal income. Anyone could state whatever they wanted and they were often coached to state a certain amount of income by their mortgage co's who then bundled and sold the piles of crap to the Investment Banks who then bundled it again into massive pools and paid off rating agencies to rate the pools into a waterfall with credit tranches AAA down to junk that they then sold throughout the global MBS market. That is what caused the Great Recession in the first place... When all that crap went belly up and everyone realized the credit ratings of the various tranches of the pools that were built were meaningless because it was all crap... All lipstick put on the biggest financial scam and pig of our time. They even enhanced the pools with "default insurance" on a portion of the lower tranches. Default insurance? LOL! When it came time to file a claim against those policies the insurance companies who wrote those policies laughed and said "Get in line, we're broke".