Real Estate Crash thread

[schuss]

I have no desire to explain economic policy to you. Think about it though, for most people a home is their #1 way to accumulate wealth. Policy is set up to encourage home ownership whether you agree or not.

The exclusion on home sales after you live in places and roll it into others is enough. You don't need the additional rate carve out for all cap gains.

[liv2ski]

The exclusion on home sales after you live in places and roll it into others is enough. You don't need the additional rate carve out for all cap gains.

The delay of Capital Gains has nothing to do with the other owner occ exclusion. Again, both these policies are in effect to encourage people to buy a primary residence or to move the equity from an initial smaller rental into larger rentals (units) which is a benefit to all (owners & tenants). Most tenants would rather deal with a private owner rather than corporate owners. If you are so damn smart, get a job that effects policy.

[byates1]

vanlife.!.?

Van life.

Also consider the downside risk of your wife wanting a 70k accent wall and other stupid shit.

The van house combo is money when you Airbnb your house and chill in the van. Owned a house for 8 years recently never paid any bill. Was plus a few grand each year.

Live laugh love.

[schuss]

The delay of Capital Gains has nothing to do with the other owner occ exclusion. Again, both these policies are in effect to encourage people to buy a primary residence or to move the equity from an initial smaller rental into larger rentals (units) which is a benefit to all (owners & tenants). Most tenants would rather deal with a private owner rather than corporate owners. If you are so damn smart, get a job that effects policy.

I'd rather not take the pay cut. You are completely missing my point. Primarily investment bankers, real estate developers and some others get paid and taxed through primarily through capital gains. We've decided that it's somehow a magically different stream of income that should be taxed less, therefore saying that those are more important than any other number of professions.
I'd also say that "house as store of wealth" is a real shitty thing in a lot of cases, as people are just looking to not commute hours to work and someone is sitting on an empty apartment as an investment vehicle. I'd also argue with your point of "people want a private landlord" as it really depends - plenty of private landlords with 1-2 properties that are complete shitheads and terrible to deal with - I know as I've had one of them.

[Buster Highmen]

Capital gains tax is used for lots of assets other than homes such as stocks, bonds and other purely financial mechanisms.
I think a lot of us could support a restriction of CG taxes status to primary homes.

[The AD]

Yeah, and the local reddit sub was apoplectic.

I get the feeling that the author hasn't actually been here.

I feel like I've been to Bellingham a fair bit and I'd never heard of most of the places the author suggested, which seemed a bit strange.

[alpinevibes]

Crash???

https://www.compass.com/listing/730-...5728356242305/


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[m2711c]

$100,000,000.00 and no ski racks or tuning room? fuckin' posers...



and what the fuck is with that statue of a dude jerkin off?

[Mani_UT]

If you are so damn smart, get a job that effects policy.

To get a job that affects policy, being buyable by lobbies probably goes a lot further than being smart.

[Toadman]

Crash???

https://www.compass.com/listing/730-...5728356242305/


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Burn?

[JimmyCarter]

Crash???

https://www.compass.com/listing/730-...5728356242305/


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Only $7k /sq ft? It’s a steal

[Buster Highmen]

Only $7k /sq ft? It’s a steal

From whom?

[Ted Striker]

I feel like I've been to Bellingham a fair bit and I'd never heard of most of the places the author suggested, which seemed a bit strange.

...a collection of Bellingham 'institutions', ocean views, and the recently-reviewed-elsewhere.

The Farm To Market Bakery is the alter ego of The Rhododendron Cafe in Bow, and Breadfarm (she didn't even get the name right) makes the best bread in two counties. Both could be found in a tourism book (if that's still a thing) but there are way more interesting places in Edison.

Similarly, Old Town and The Horseshoe are Bellingham's oldest restaurants, the former being one of the best breakfast & lunch spots in town, and the latter being a greasy spoon on one side, and dive bar on the other. They, along with Spark museum are certainly Bellingham institutions, but the notion that they attract tourists is a stretch.

Gruff Brewing is a block away from Boundary Bay. I'm guessing the reason it was chosen over the dozen other breweries in town is the view. Same goes for Cider Co. (not meant as a put down - both are good).

Carnal and Makeworth are newer, and definitely still have a buzz. Rock & Rye is an offshoot from Bayou on Bay's bar side. They and Taylor Farms are de rigueur mentions for tourists who've never had real/fresh shellfish.

[Ted Striker]

and what the fuck is with that statue of a dude jerkin off?

I guess he couldn't find a bear

[Summer]

Crash???

https://www.compass.com/listing/730-...5728356242305/

Never been to Aspen, so genuine question: would people ski through your backyard? Do you just stand out on the balcony and chuck those fancy pillows at people when they cut through?

The statue is an interesting choice. Native American wanking in front of a shrine to capitalism.

[alpinevibes]

Never been to Aspen, so genuine question: would people ski through your backyard? Do you just stand out on the balcony and chuck those fancy pillows at people when they cut through?

The statue is an interesting choice. Native American wanking in front of a shrine to capitalism.

No, it’s down over the edge of the groomer, shielded by some trees and it’s near bottom of the mountain. The somewhat unique quality to Aspen Mountain is that there are only ~10 houses that actually have ski in/out access touching the resort and maybe 75-100 condos units.

Absolutely stupid price, but it’s a special house in a way.

[The AD]

Here's one for those who feel the Aspen house is a bit pricey: https://www.point2homes.com/CA/Home-...x=3&bsft_tv=26

That pool doesn't suck.

The austere staging makes it seem a bit cold and uninviting to me, though. Would not buy.

[Harry]

a ski town of just core locals who get endless first tracks day after day with no lift lines and cheap passess where is this town?

Big Sky pre-IKON.


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[dunfree]

Here's one for those who feel the Aspen house is a bit pricey: https://www.point2homes.com/CA/Home-...x=3&bsft_tv=26

That pool doesn't suck.

The austere staging makes it seem a bit cold and uninviting to me, though. Would not buy.

It’s part staging, part photography. That very expensive modern furniture doesn’t have to look lifeless, even if thats the choice

[Supermoon]

It’s part staging, part photography. That very expensive modern furniture doesn’t have to look lifeless, even if thats the choice

Yeah, blank walls don’t help either. No art in the place.

[Summer]

Here's one for those who feel the Aspen house is a bit pricey: https://www.point2homes.com/CA/Home-...x=3&bsft_tv=26

That pool doesn't suck.

The austere staging makes it seem a bit cold and uninviting to me, though. Would not buy.

According to the mortgage calculator on that listing, I can't afford that house. It also won't let me put down less than 20%. Darn. Back to the cardboard refrigerator box down by the river for me!

[byates1]

One would think the sheer unaffordability if all the cool places, and the nation in general, there will be some new cool places down the line.

Little towns that grow, where are they?

[m2711c]

[byates1]

Fun little place. Done a ton of skiing right up the road. Thru hiked npt 3x. The adk is the home range

[half-fast]

RE in the adk is pretty expensive these days. https://www.zillow.com/homedetails/2...ource=txtshare