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  1. #17701
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    Quote Originally Posted by Mokomahonah View Post
    I think Zillow is trying to invest in and cause a run up in the market. They are like the Uber of real estate. They can watch the market crash and not take much of a hit because they don't actually employ anyone. The more they can cause price inflation and keep flipping the better for them. Hence the Zestimates always seeming just a little higher. If they can convince you of scarcity they will. See vice article a few pages back.

    Zestimates sounds like a spice tho doesn't it?

    Sent from my 5007Z using Tapatalk
    Zillow has 5.5k employees.

    2.5k of them work(ed) in downtown Seattle headquarters.
    Quote Originally Posted by Downbound Train View Post
    And there will come a day when our ancestors look back...........

  2. #17702
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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.

  3. #17703
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    Quote Originally Posted by Name Redacted View Post
    I think that we should tax people who have skis with +110mm waist who don't ski them at least 4 times a season.
    Really? I think we should pay them to stay home on pow days

  4. #17704
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    Quote Originally Posted by dan_pdx View Post
    Really? I think we should pay them to stay home on pow days
    Will you pay Texans not to stay at their 2nd homes during ski season?

  5. #17705
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    Quote Originally Posted by altasnob View Post
    As I have said before, I think all these kind of laws just try to divert attention from the real problem. Not enough housing is being built.
    Well if we build more they'll just buy that too and sit on it, so what the fuck good would it do?

    All this buying SFHs as "investments" and leaving them empty has got to be regulated out of existence. It's fucking up the country.

  6. #17706
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    Why do you hate Freedom?
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  7. #17707
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    Mar 2005
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    Quote Originally Posted by yeahman View Post
    Well if we build more they'll just buy that too and sit on it, so what the fuck good would it do?

    All this buying SFHs as "investments" and leaving them empty has got to be regulated out of existence. It's fucking up the country.
    The solution is not more deeded homes.
    It’s more rental apartments that are deed restricted never to go condo.
    With enough rentals, market rents drop. And workers might have (slightly more) affordable housing.
    . . .

  8. #17708
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    Dec 2007
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    Denver
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    2,624

    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/

  9. #17709
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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

  10. #17710
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    Sep 2006
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    8,246
    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

  11. #17711
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    Quote Originally Posted by altasnob View Post
    If you're going to impose a vacant house tax, at least go big like Vancouver and set the rate at 3% of the assessed value ... Vancouver has an exemption where you don't have to pay the tax even if you are not there more than six months, so long as it is your personal residence (and you only get one). This would solve the 7 month road trip or living in the Alps for the winter problem.
    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.

  12. #17712
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    Quote Originally Posted by altasnob View Post
    Would such a law be a taking under the 5th amendment, "private property [shall not] be taken for public use, without just compensation?"
    No.

  13. #17713
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    Quote Originally Posted by altasnob View Post
    Right now, you can buy a house in an LLC and keep your identity hidden. There is little reason to not buy a house in an LLC, even if keeping your identity hidden isn't an issue for you. To enforce these vacant house taxes, we would force people who buy in an LLC to disclose who they are, but only those who are not living in their house long term. The long term people would get to remain anonymous using the LLC. And since this list of people who pay the tax is a public record, it would need to be disclosed to whoever wants to see it. This could lead to discrimination and in the case in Seattle or Bellingham, racial discrimination.
    Is this a fucking joke? I get that you have policy objections but your legal objections are laughable.

  14. #17714
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    Quote Originally Posted by XXX-er View Post
    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
    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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    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  15. #17715
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    Quote Originally Posted by liv2ski View Post
    Maybe the Chinese know something we don't? Their crystal ball obviously sees way into the future.
    The article's from 2016 - we haven't had the crash they called for yet, have we?

  16. #17716
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    Jan 2005
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    Quote Originally Posted by RootSkier View Post
    Is this a fucking joke? I get that you have policy objections but your legal objections are laughable.
    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.

  17. #17717
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    Quote Originally Posted by Ted Striker View Post
    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.
    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 IME
    Lee Lau - xxx-er is the laziest Asian canuck I know

  18. #17718
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    Quote Originally Posted by XXX-er View Post
    that is a great restaurant BTW, Canada is a long way from Mexico eh

    also encouraging laneway housing, I got 3 of them really close it works in a downtown setting no issues IME
    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.

  19. #17719
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    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

  20. #17720
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    Quote Originally Posted by Ted Striker View Post
    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.
    the townis controling it fairly tightly the lane way house kiddy corner to me was built by a town counciler with a degree in planning so i think its getting done right, the 3 i have seen look fine with enough parking
    Lee Lau - xxx-er is the laziest Asian canuck I know

  21. #17721
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    Mar 2008
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    northern BC
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    Quote Originally Posted by liv2ski View Post
    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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    i think its called " I got all this stolen money that i need to park somewhere, so I will just buy a house in Vangroovy, doesnt matter what is costs ... not my money "
    Lee Lau - xxx-er is the laziest Asian canuck I know

  22. #17722
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    Quote Originally Posted by altasnob View Post
    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
    The city of Bellingham is attempting something similar, but through a temporary ordinance from city hall that prohibits under-development. If a lot is zoned multi, you can't build a SFH.

  23. #17723
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    Aug 2007
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    Quote Originally Posted by altasnob View Post
    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
    I could not read due to their paywall, but that is an interesting development. Perhaps if the RE market/building business tanks I can actually add a 2nd unit.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  24. #17724
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    Aug 2008
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    Where the climate suits my clothes.
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    Quote Originally Posted by Toadman View Post
    It's 1 AM, do you know where your mortgage rate is?

    https://finance.yahoo.com/news/now-a...143020445.html
    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).

  25. #17725
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    Feb 2008
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    Quote Originally Posted by liv2ski View Post
    I could not read due to their paywall, but that is an interesting development. Perhaps if the RE market/building business tanks I can actually add a 2nd unit.
    If you turn off Javascript for the NYT, you should be able to see the article. Some pictures won't load though.

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