Real Estate Crash thread

[Benny Profane]

I had to laugh at this article. Some dude on a $250k-$300k budget wants to retire to Summit County. Can you get a trailer park home for that price?

https://www.marketwatch.com/story/i-...?siteid=yhoof2

Only has social security, too. Really should be looking at Central and South America.

[Self Jupiter]

Around Boston the market noticeably slowed down around the election, picked back up a week after that and then died off again in mid December. Felt like holiday quarantining had a lot of people sitting on the sidelines. Now it feels like it’s going to be a really competitive winter market. Suburbs showing no signs of slowing for single families and condos (condos way up in most desirable suburbs), and multifam sales are few and far between but very competitive. City condo market appears to be heating up again without a price redux in most market segments in desirable areas. Residential rental market slowly heating up in the city and remains on fire outside of it.

[mcf258]

LMAO! Too far from a mountain town. But if you want to get into sheep herding, it might be worth a look.

It's w/in range of the tri-cities......it's probably too late already. How about Heppner?

[Toadman]

It's w/in range of the tri-cities......it's probably too late already. How about Heppner?

I think La Pine is going to be the next "it" town. Not too far from Bachy. You can go cat skiing at Mt Bailey or 2 hour drive to Mt. Ashland. Yep, that's the next Avon, Gunnison, Gypsum, or maybe Basalt, CO. You heard it hear first!

[Falcon3]

I think La Pine is going to be the next "it" town. Not too far from Bachy. You can go cat skiing at Mt Bailey or 2 hour drive to Mt. Ashland. Yep, that's the next Avon, Gunnison, Gypsum, or maybe Basalt, CO. You heard it hear first!

Everybody that works service jobs in Bend/bumps chairs at Bachy already lives in L.A. Pine. I give it two years before all the fucking rich retirees and tech yuppies get tired of how commercial Bend is and how much traffic it has and move en masse to the quaint little LA Pine that still has some grunge culture and then they ruin the fuck out of it too.

Actually take that two years back, I’m sure it’s already happening.

[neufox47]

What the fuck?

What did I get wrong? Generally, no one wants to pay more taxes, yet they want a balanced budget. When confronted with this dissonance they respond that the Government has plenty of funds but they just don’t spend it correctly. But when asked if they want to see cuts to Defense, SS, or Medicare they say absolutely not. Yet those three things take up almost all the tax revenue.

[mcf258]

What did I get wrong? Generally, no one wants to pay more taxes, yet they want a balanced budget. When confronted with this dissonance they respond that the Government has plenty of funds but they just don’t spend it correctly. But when asked if they want to see cuts to Defense, SS, or Medicare they say absolutely not. Yet those three things take up almost all the tax revenue.

There is a group of individuals and companies that pay nothing or close to nothing in income taxes. They have bought and paid for the tax code we have now. That is the real problem, and these same companies are using offshoring and technology to gut the middle class. It's great for your 401k but not society as a whole.

While it's easy to point at the boomers for not donating their wealth to .gov when added all in, I bet I've paid 50% of my income in taxes(fed, state, local income tax, property tax, ss tax, and medicare tax(3.2% on every dollar earned to pay for Obamacare.)) How much more would be fair?

I was a sole proprietor so I had the pleasure of paying both sides of my ss tax and medicare tax - a total of ~15%. I would be just fine w/out obamacare, medicare, and ss but society is dependent on those programs to keep people from bankruptcy, homelessness, illness and early deaths. I don't rail against those programs or begrudge anyone from using them, including my buddy getting Obamacare while owning millions in RE so he can ski and not work winters.

As far as the military goes, a ton of that spending over the last 50 years has gone to protecting the supply of oil from the ME and of course many needless wars. Bush Jr started 2 wars and gave 2 tax cuts to the wealthy at the same time. WTF?

[RootSkier]

What did I get wrong? Generally, no one wants to pay more taxes

I am 100% in favor of paying more taxes. Start by eliminating the cap on payroll taxes. The treat income and long-term capital gains the same. Then jack the fuck out of the top marginal rate. It is insane that there is only a 5% spread between $163k bracket and the $518k bracket.

Then impose a special assessment on liv2ski because he simply deserves it.

[Benny Profane]

What did I get wrong? Generally, no one wants to pay more taxes, yet they want a balanced budget. When confronted with this dissonance they respond that the Government has plenty of funds but they just don’t spend it correctly. But when asked if they want to see cuts to Defense, SS, or Medicare they say absolutely not. Yet those three things take up almost all the tax revenue.

First of all, you display your ignorance of how things are paid for, as though tax revenues directly pay for expenditures, like in a household. Second, I'll bet a lot that most Boomers would gladly love to see the defense budget cut, like most Americans would. Eisenhower's military industrial warning has been reality for a long time now, culminating in a trillions of dollars TWENTY YEAR "war" in Afghanistan, that I'm pretty sure NOBODY could justify, including the generals who revolve door into very lucrative post military career "consulting" gigs. It's one reason Trump was elected, but even he couldn't follow through on his promise to get out of that hellhole.

And don't fucking start with Social Security. It's disgusting how that forced annuity has been characterized as a welfare like entitlement, time after time. It has reduced senior poverty tremendously over decades now, and half of Boomers live off of it as their only source of income, and it ain't that much, jack. On top of it all, it's taxed, even by many states.

[Deebased]

There is a group of individuals and companies that pay nothing or close to nothing in income taxes. They have bought and paid for the tax code we have now. That is the real problem, and these same companies are using offshoring and technology to gut the middle class. It's great for your 401k but not society as a whole.

While it's easy to point at the boomers for not donating their wealth to .gov when added all in, I bet I've paid 50% of my income in taxes(fed, state, local income tax, property tax, ss tax, and medicare tax(3.2% on every dollar earned to pay for Obamacare.)) How much more would be fair?

I was a sole proprietor so I had the pleasure of paying both sides of my ss tax and medicare tax - a total of ~15%. I would be just fine w/out obamacare, medicare, and ss but society is dependent on those programs to keep people from bankruptcy, homelessness, illness and early deaths. I don't rail against those programs or begrudge anyone from using them, including my buddy getting Obamacare while owning millions in RE so he can ski and not work winters.

As far as the military goes, a ton of that spending over the last 50 years has gone to protecting the supply of oil from the ME and of course many needless wars. Bush Jr started 2 wars and gave 2 tax cuts to the wealthy at the same time. WTF?

The problem IMHO isn't the % of taxes, etc (albeit needless spending on Wars and the military industrial complex exacerbates). It's the systematic dysfunction we see across institutions from education to corporations to govt; we've seen our leadership install layers upon layers of middle management as risk and regulatory relief valves.

[neufox47]

First of all, you display your ignorance of how things are paid for, as though tax revenues directly pay for expenditures, like in a household. Second, I'll bet a lot that most Boomers would gladly love to see the defense budget cut, like most Americans would. Eisenhower's military industrial warning has been reality for a long time now, culminating in a trillions of dollars TWENTY YEAR "war" in Afghanistan, that I'm pretty sure NOBODY could justify, including the generals who revolve door into very lucrative post military career "consulting" gigs. It's one reason Trump was elected, but even he couldn't follow through on his promise to get out of that hellhole.

And don't fucking start with Social Security. It's disgusting how that forced annuity has been characterized as a welfare like entitlement, time after time. It has reduced senior poverty tremendously over decades now, and half of Boomers live off of it as their only source of income, and it ain't that much, jack. On top of it all, it's taxed, even by many states.

Oh really? Please educate me on how the Deficit is calculated.

What do you want to bet? I’ll bet that less than half of boomers support cutting the military budget. Only 31% of all Americans think we spend too much on the military. https://news.gallup.com/poll/288761/...ing-right.aspx

I’m all for social security and I’d support removing the cap completely, which would directly raise my taxes.

[Toadman]

Take it to Polyass! This is the RE Crash thread for Pete's sake!!! Or Christ's sake, if you are religious....

[jackstraw]

Take it to Polyass! This is the RE Crash thread for Pete's sake!!! Or Christ's sake, if you are religious....

Who is Pete btw?

I do find the 137k cap on SS amusing considering all the talk about it going under over the years. Maybe it should start at 137.

[sirbumpsalot]

Who is Pete btw?

I do find the 137k cap on SS amusing considering all the talk about it going under over the years. Maybe it should start at 137.

Because your benefits are capped. If you raise the cap you have to raise the benefits...otherwise its no longer the "forced old age insurance benefit" used to make the program. Then it becomes "welfare" or redistribution program as someone above suggested.

What does this have to do with RE again?

[Bobcat Sig]

My, so much angsty gen-x and millennial rage in here. Is everyone grumpy from spending time with their in-laws? Or is everyone still reeling from a gnarly NYE hangover?

Try decaf, some of you... jayzus.

[Toadman]

Who is Pete btw?

I do find the 137k cap on SS amusing considering all the talk about it going under over the years. Maybe it should start at 137.

Peter the Great. Not sure how great he was. Also, Pete the Dragon's birth certificate says Peter, but that's another story...

[jackstraw]

.

What does this have to do with RE again?

Wondering if I can make my mortgage payments with my ss checks

[Ted Striker]

Who is Pete btw?

Heaven's bouncer

[RoooR]

I think La Pine is going to be the next "it" town. Not too far from Bachy. You can go cat skiing at Mt Bailey or 2 hour drive to Mt. Ashland. Yep, that's the next Avon, Gunnison, Gypsum, or maybe Basalt, CO. You heard it hear first!

Has Oakridge blown up yet? Haven't ridden there in years but seems like you could buy a place there for under $200k.

[Toadman]

Has Oakridge blown up yet? Haven't ridden there in years but seems like you could buy a place there for under $200k.

No, Lakeview though,....and this is the hidden treasure of skiing. It's more than just the snow....

https://www.warnercanyonski.com/

[XXX-er]

apparently people are buying houses here without seeing them in person by virtual viewing, houses are selling with multiple offers, a new dirt pimp had sold his 1st house in 2 months after getting his license

[Bobcat Sig]

Has Oakridge blown up yet? Haven't ridden there in years but seems like you could buy a place there for under $200k.

You could. Bring meth and a healthy love for the damp and gray. Oakridge is quite moist. And remote. Likely too remote for most tech-weenz to relocate.

[Toadman]

apparently people are buying houses here without seeing them in person by virtual viewing, houses are selling with multiple offers, a new dirt pimp had sold his 1st house in 2 months after getting his license

When we sold last year, we had a couple from Singapore make a full price cash offer. They had their RE agent do two video tours of the house. Crazy.

[Toadman]

There is a group of individuals and companies that pay nothing or close to nothing in income taxes. They have bought and paid for the tax code we have now. That is the real problem, and these same companies are using offshoring and technology to gut the middle class. It's great for your 401k but not society as a whole.


WTF?

You were saying?

https://www.yahoo.com/huffpost/trump...133706852.html

Accounting for the president’s Scottish resorts is unusual because Trump is the creditor for his own businesses, which means payment for many of the resorts’ costs flow to the Trump Organization.

The resort losses are so astronomical that some Scottish officials are suspicious about financing and taxes. Trump hasn’t paid a penny in tax on the properties.

Trump bought the Scotland properties with huge amounts of cash at a time when he was heavily indebted and having a difficult time finding a bank to loan him funds. Scottish Green Party co-leader and member of Parliament Patrick Harvie called on the government in November to file an “Unexplained Wealth Order” against Trump to compel him to reveal the source of that cash.

[XXX-er]

crazy rich azns