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Thread: Real Estate Crash thread
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08-25-2021, 06:45 PM #17701
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08-25-2021, 07:14 PM #17702Registered User
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I think that we should tax people who have skis with +110mm waist who don't ski them at least 4 times a season.
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08-25-2021, 07:21 PM #17703Registered User
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08-25-2021, 07:42 PM #17704Registered User
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08-25-2021, 08:42 PM #17705
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08-25-2021, 10:21 PM #17706
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08-26-2021, 05:12 AM #17707
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08-26-2021, 09:06 AM #17708
Real Estate Crash thread
Breckenridge is going to move forward with capping STRs at 2,200 and no new licenses will be issued until the number reaches that through attrition. There are currently 3,945 STRs and they expect a rush to come in before the legislation takes effect. The sale of a home also won’t transfer a license.
How many years will it take for attrition to get below 2,200? 15 years?
That’s potentially a major development.
https://www.summitdaily.com/news/loc...ntal-licenses/
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08-26-2021, 09:32 AM #17709Registered User
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Vangoovy RE has been going straight up for almost 20 years propped up by laundered money and the figure I remember was 2 billion in laundered money
Lee Lau - xxx-er is the laziest Asian canuck I know
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08-26-2021, 09:40 AM #17710
It's 1 AM, do you know where your mortgage rate is?
https://finance.yahoo.com/news/now-a...143020445.html
"Thirty-eight percent of homeowners with a mortgage do not know their current interest rate,” the survey found, “making it impossible for them to know if they could benefit from refinancing.”"We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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08-26-2021, 09:40 AM #17711
I know someone in the building/development business up there, and he's told me stories of how the wealthy are evading it (they didn't get rich by being stupid) yet there are cases where the wide net cast is scooping up smaller fish.
example: https://vancouversun.com/news/local-...sses-this-year
Getting back to B'ham, the prices are nuts here because of instagram, not speculators.
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08-26-2021, 10:00 AM #17712
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08-26-2021, 10:02 AM #17713
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08-26-2021, 10:07 AM #17714
Maybe the Chinese know something we don't? Their crystal ball obviously sees way into the future. https://betterdwelling.com/city/vanc...-will-worse-us
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08-26-2021, 10:15 AM #17715Registered User
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08-26-2021, 10:19 AM #17716
Did you read the Seattle Times article? The city attorney and everyone else involved with analyzing these types of taxes felt they were most likely illegal. I can't say they are illegal, just like you can't say they are legal. I am still not aware of any US city that has such laws on the books yet. When that happens, it will be litigated. And the result could vary by state. Seattle is currently the most progressive, liberal, socialist large city in the US. It is also second only to Vancouver, BC for wealthy Chinese speculator real estate investment. The fact Seattle has not passed any of these laws tells me they agree that it would most likely be deemed illegal here. Nearly 100% of vacant homes in Seattle are Chinese owned. You don't have to be an attorney to imagine a law that, in effect, overwhelmingly targets a specific race of people, particularly a race of people with a long history of being shit on in the PNW, might get tossed by the courts.
Everyone seems to think vacant homes is a problem in their community. In reality, the vacant Chinese owned homes problem is bigger in Seattle than anywhere else, and the city has not tried to regulate the problem away. Cities in America have had vacant homes in them forever. Miami and other sunbelt locations have the highest rates. Is that rate even increasing? The only reason places like Vancouver and Crested Butte get away with even suggesting these laws is because it is easy to hate on the Chinese and Texans.Last edited by altasnob; 08-26-2021 at 12:25 PM.
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08-26-2021, 10:20 AM #17717Registered User
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that is a great restaurant BTW, Canada is a long way from Mexico eh
up here the town is encouraging rental accommodation so if you develop a suite over a store they cut yer taxes in half for 5 years and you get the rent of course
also encouraging laneway housing, I got 3 of them really close it works in a downtown setting no issues IMELee Lau - xxx-er is the laziest Asian canuck I know
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08-26-2021, 11:00 AM #17718
I lived in Kits for a while in the 90s, and used to go there fairly regularly. There was a cajun restaurant on south Granville back then that was really good as well. Vancouver has always been a good restaurant town.
Yeah, our city is encouraging laneway (we call it alleyway) housing as well. Honestly, it's a mixed bag. Some are truly rentals, some are illegal air bnbs. Since the streets in the older core neighborhoods are so narrow, there's only parking on one side, and even then there's only room for one car to drive, so they create parking and traffic issues.
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08-26-2021, 02:27 PM #17719
CA joins OR as the only states who banned single family home zoning on a statewide level.
https://www.nytimes.com/2021/08/26/b...te-bill-9.html
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08-26-2021, 02:44 PM #17720Registered User
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Lee Lau - xxx-er is the laziest Asian canuck I know
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08-26-2021, 02:46 PM #17721Registered User
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08-26-2021, 03:04 PM #17722
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08-26-2021, 03:19 PM #17723
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08-26-2021, 03:34 PM #17724
My guess would be a similar percentage don't know (or care about) their credit score, and likely wouldn't be candidates for refinance to begin with.
Much work with bank(s) to get the initial loan with poor credit so you can get a home is worth the hassle, but not a fun process to repeat. Refinancers don't wanna mess with it and most won't do the leg work to get it done.
(Now own our home outright, but started out in a tough spot so can commiserate).
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08-26-2021, 03:47 PM #17725Registered User
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