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  1. #8001
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    Aug 2016
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    2,183
    Quote Originally Posted by AdironRider View Post
    I hate to break it to you Benny, but being smart and setting yourself up for success, and also getting a couple lucky breaks along the way has been the way of the world since the beginning of time. That hasn't.
    nah, plenty of people didn’t give a fuck back in the day, hustle culture pimp. There’s all kinds of bios out there of 19th century robber barons who owed favors to guys that just didn’t want the fucking money.

  2. #8002
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    Oct 2003
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    Big in Japan
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    38,041
    https://www.economist.com/leaders/20...policy-mistake

    "The soaring cost of housing has created gaping inequalities and inflamed both generational and geographical divides. In 1990 a generation of baby-boomers, with a median age of 35, owned a third of America’s real estate by value. In 2019 a similarly sized cohort of millennials, aged 31, owned just 4%. Young people’s view that housing is out of reach—unless you have rich parents—helps explain their drift towards “millennial socialism”. And homeowners of all ages who are trapped in declining places resent the windfall housing gains enjoyed in and around successful cities. In Britain areas with stagnant housing markets were more likely to vote for Brexit in 2016, even after accounting for differences in income and demography."

    Let's do some livin'
    After, we die

  3. #8003
    Join Date
    Apr 2006
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    Movin' On
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    2,260
    ^I think that helps explain the rise of populism on both sides. Non asset owners got fucked hard by quantitative easing and stagnant wages.

    I watched a really interesting long form PBS interview with Steve Bannon recently. He goes into this in pretty serious detail in the first 20 minutes.

    https://youtu.be/pm5xxlajTW0

    I thought I hated him, turns out he has a pretty solid grasp on the economic realities of neo-feudalism. His solutions are very different than mine though.

    I feel like I'm constantly playing catch up after getting fucked by starting my career during the recession. I worked some really shitty jobs for really shitty pay with a college degree. People graduating today are often even more fucked because wages for entry level workers are way out of line with the cost of living in most major metro areas.

  4. #8004
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    Oct 2003
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    Big in Japan
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    I'm reading a biography of Hitler, and his whole platform early on was all about taking control of the international financial cabal. Bannon seems to be as passionate. And he's right. It's hitting a breaking point. That disparity between the Boomers and millennials in house ownership I quoted is stark. And there really is no hope for a vast swath of young people to grow old well.

    Let's do some livin'
    After, we die

  5. #8005
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    Dec 2003
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    Nhampshire
    Posts
    5,603
    Steve Bannon isn't dumb, he's just devoid of any care for his fellow man

  6. #8006
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    Oct 2007
    Posts
    8,328
    Wanna tank home prices in the mountains? Tax STRs as commercial real estate:
    https://www.summitdaily.com/news/sta...to-a-tax-hike/

  7. #8007
    Join Date
    Jan 2008
    Location
    Big Sky/Moonlight Basin
    Posts
    9,953
    Quote Originally Posted by Name Redacted View Post
    Wanna tank home prices in the mountains? Tax STRs as commercial real estate:
    https://www.summitdaily.com/news/sta...to-a-tax-hike/
    That is long overdue. Absolutely no reason that rentals should be taxed dramatically less than other businesses, like restaurants. The article interviews a real estate pimp who says mountain real estate prices will “collapse” if this goes through.
    (A) that won’t happen
    (B) if it does, so what.



    Sent from my iPhone using TGR Forums
    "Zee damn fat skis are ruining zee piste !" -Oscar Schevlin

    "Hike up your skirt and grow a dick you fucking crybaby" -what Bunion said to Harry at the top of The Headwaters

  8. #8008
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    Oct 2003
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    slc
    Posts
    11,239
    Only have to live there a measly 30 days per year to be exempt, that's a pretty low bar.

  9. #8009
    Join Date
    Jan 2010
    Location
    your vacation
    Posts
    1,900
    short term rental owners are the greediest mother fuckers out there
    I've never met one who isn't they are so concerned about their rental income and not missing out on a single dollar
    they pay a measly 100 or so dollar fee to the town/county and that's it when I become county commisioner I'm going to up to a 2,500.00 yearly fee
    the local polticians can't pat themselves on the back enough when it comes to "affordable housing" if they really had some balls and cared they would tax the shit out of short term rentals
    and who gives a fuck about the real estate market collapsing, give me a fucking break, I hear that all the time when it comes to a complex or neighborhood banning short term rentals through their hoa
    asking a realator for an opinon the truth or trying to get a straight answer out of one is impossible I've never met people so full of shit in my life especially in a mountain resort town
    end of rant
    tax the shit out of short term rentals they all act like it's a hobby when it's a business
    most of them are so strung out financially since they are betting on rental income when the economy hits the fan it's tits up for em

    and on a side note the local sewer district is going to start charging short term rentals a higher fee, instead of a 4 people flushing a toilet on regular basis you've got 10 people cramed into a three bedroom flushing the toilet alot more

  10. #8010
    Join Date
    Mar 2006
    Location
    CO
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    1,313
    Quote Originally Posted by Name Redacted View Post
    Wanna tank home prices in the mountains? Tax STRs as commercial real estate:
    https://www.summitdaily.com/news/sta...to-a-tax-hike/
    Seems like it would be pretty easy to get around the 30 days owner occupied requirement. There's no way they could put in a control here to verify that an owner was physically there for 30 days. Block it off for 15 days in early May and another 15 days in October.

  11. #8011
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    12,372
    In my hood the town rules for STR's is a minimum 28 day lease per rental and they occasionally take owners to court for violating the rule. If every town had that 28 day minimum lease rule, then there would be a lot less STR's out there.
    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.

  12. #8012
    Join Date
    Mar 2005
    Location
    land of the free
    Posts
    8,832
    Quote Originally Posted by Kevo View Post
    ^I think that helps explain the rise of populism on both sides. Non asset owners got fucked hard by quantitative easing and stagnant wages.

    I watched a really interesting long form PBS interview with Steve Bannon recently. He goes into this in pretty serious detail in the first 20 minutes.

    https://youtu.be/pm5xxlajTW0

    I thought I hated him, turns out he has a pretty solid grasp on the economic realities of neo-feudalism. His solutions are very different than mine though.
    .
    Bannon was trumps brain. The key to his election. He understands the average schmuck. Not that he lived it personally, but he’s smart enough to get it, and to focus group it.
    “Life has become immeasurably better since I have been forced to stop taking it seriously.”
    Hunter S. Thompson

  13. #8013
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
    Posts
    6,961
    So who is buying? Who is selling?

  14. #8014
    Join Date
    Oct 2017
    Posts
    177
    Quote Originally Posted by fastfred View Post
    short term rental owners are the greediest mother fuckers out there
    I've never met one who isn't they are so concerned about their rental income and not missing out on a single dollar
    they pay a measly 100 or so dollar fee to the town/county and that's it when I become county commisioner I'm going to up to a 2,500.00 yearly fee
    the local polticians can't pat themselves on the back enough when it comes to "affordable housing" if they really had some balls and cared they would tax the shit out of short term rentals
    and who gives a fuck about the real estate market collapsing, give me a fucking break, I hear that all the time when it comes to a complex or neighborhood banning short term rentals through their hoa
    asking a realator for an opinon the truth or trying to get a straight answer out of one is impossible I've never met people so full of shit in my life especially in a mountain resort town
    end of rant
    tax the shit out of short term rentals they all act like it's a hobby when it's a business
    most of them are so strung out financially since they are betting on rental income when the economy hits the fan it's tits up for em

    and on a side note the local sewer district is going to start charging short term rentals a higher fee, instead of a 4 people flushing a toilet on regular basis you've got 10 people cramed into a three bedroom flushing the toilet alot more
    quoted for god damn truth. and as harry said, who gives a shit if home prices go down as a result of a govt. policy? big problem in this country is that so many homeowners think they are legally entitled to constantly rising home values, and spineless county commissioners who need the $50k/year stipend for part-time work are scared of those 65yo busybodies voting them out of office.

  15. #8015
    Join Date
    Oct 2009
    Location
    seatown
    Posts
    3,272
    Quote Originally Posted by Mazderati View Post
    So who is buying? Who is selling?
    i’ll probably look buying in the face in the next 6-8 months but am still dragging my feet at the thought. if it goes that way i’m shooting for something low end with some upside or multi family if we’re in the same market. i’m an opportunist with my money so this should be a shit show. we may just rent again if savings rate is still high.

    though at this point, i’ve watched many houses in target market sell twice in this rally. luckily we started low.

  16. #8016
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    12,372
    Buying 2-4 unit properties is the way to go if you can Shroom. Much better cash flow. Down side is typically larger down payment requirements than a 1 unit property.
    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.

  17. #8017
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    4,556
    Just what I always wanted... 4x the home ownership headaches.


  18. #8018
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    Oct 2009
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    seatown
    Posts
    3,272
    Quote Originally Posted by mf45e0 View Post
    Or just pay cash for a spot near the office so commute is shorter and no mortgage.

    #boomerlogic
    i laffed cause this is both of my parents

  19. #8019
    Join Date
    Feb 2015
    Location
    Boston
    Posts
    3,101
    Quote Originally Posted by liv2ski View Post
    Buying 2-4 unit properties is the way to go if you can Shroom. Much better cash flow. Down side is typically larger down payment requirements than a 1 unit property.
    Can buy a 2-3fam that you plan to occupy with 3.5% down FHA or 5% conventional with PMI round here in MA. I got lucky and bought a 2-fam I owner-occ before prices got too crazy. Living pretty cheap helps me stomach wishing that I lived somewhere else.

  20. #8020
    Join Date
    Aug 2006
    Posts
    5,500
    A paid off three family pretty much guarantees you a solid retirement also.
    Live Free or Die

  21. #8021
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    4,556
    Quote Originally Posted by Self Jupiter View Post
    <snip> Living pretty cheap helps me stomach wishing that I lived somewhere else.
    I dunno, man... sounds rough. ++vibes

  22. #8022
    Join Date
    Dec 2009
    Location
    The Mayonnaisium
    Posts
    6,961
    Looking at a mixed-use basket case in an A+ location locally and B or B- location nationally. Commercial down, residential up. Existing commercial wants to stay and when fully rented the note would be covered but the building is old and neglected and there is a good chance any money made gets recycled into constant repair. Had an architect walk through and the advice was a) do nothing and let it ride or b) tear down and start over. Considering (a) in the short-term and (b) in the long-term but it's a long time to be locked in and opportunity cost plus risk etc etc.

  23. #8023
    Join Date
    Aug 2006
    Posts
    5,500
    If truly the best location in town I'd say let it ride, it'll rent (triple net of course) as long as it is structurally sound.

    It sounds like the initial asking price is too expensive though ultimately.
    Live Free or Die

  24. #8024
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    12,372
    Quote Originally Posted by Self Jupiter View Post
    Can buy a 2-3fam that you plan to occupy with 3.5% down FHA or 5% conventional with PMI round here in MA. I got lucky and bought a 2-fam I owner-occ before prices got too crazy. Living pretty cheap helps me stomach wishing that I lived somewhere else.
    Nope on 3-4 units, but 2 units will work with 3.5% down on a FHA loan. The mortgage insurance is a major waste of money with FHA, so I encourage buyers to go conventional, but you need more cash to do so on units. Which by the way helps a bunch with a better cash flow and paid off units are my retirement income.
    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.

  25. #8025
    Join Date
    Feb 2015
    Location
    Boston
    Posts
    3,101
    Round here you can do a 3-fam on those terms. Just texted a loan officer to confirm.

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