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Thread: Real Estate Crash thread
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10-20-2022, 01:06 PM #23001
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10-20-2022, 01:58 PM #23002Hucked to flat once
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10-20-2022, 02:00 PM #23003Registered User
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- Dec 2010
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10-20-2022, 02:01 PM #23004
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10-20-2022, 02:19 PM #23005
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10-20-2022, 04:15 PM #23006
The thing is CA taxes are not burdensome once you have owed a home there forever thanks to prop 13. My property taxes are .0013 X value for the year. You're never going to get that in CO or likely any other state. Disregarding that, per the below chart the total tax burden is really no big deal in my mind:
https://wallethub.com/edu/states-wit...x-burden/20494
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10-20-2022, 10:06 PM #23007
Is there a Calc on that chart? Cali income tax varies obviously into double digits. Sales tax high single digits.
Taxes in California are high. Don’t mean to be controversial but they are.Decisions Decisions
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10-20-2022, 10:14 PM #23008
California taxes are about average for people of average income/wealth. It’s the high taxes on high earners where it stands apart.
https://itep.org/whopays-map/
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10-21-2022, 10:59 AM #23009
Real Estate Crash thread
Sales going to plumb the 08 lows next year.
https://mobile.twitter.com/EPBResear...86205437411328
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10-21-2022, 11:36 AM #23010
Here that just means the wealthy will buy an expensive property, and also the one next to it for privacy. And I'm not joking.
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10-21-2022, 12:42 PM #23011man of ice
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No idea how accurate this is but Global Real Estate Bubble Risks: https://www.ubs.com/global/en/wealth...ble-index.html
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10-21-2022, 12:49 PM #23012
As far as I am aware, almost every developed country in the world except the US has adjustable rate mortgages as default and fixed rate mortgages (in the way that Americans use that term) are exceptionally rare outside the US.
Canada, UK, Australia, eurozone countries, etc are all adjustable rate mortgages that will adjust to new monthly payment amounts as central bakes raise rates.
Worth noting that what Canada calls a fixed rate mortgage is not a fixed rate mortgage by US definitions.
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10-21-2022, 12:52 PM #23013
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10-21-2022, 12:56 PM #23014
Real Estate Crash thread
Good news. STR hosts switching to LTR. Too late and too greedy:
Airbnb hosts say bookings ‘fell off a cliff’ amid influx of new vacation rentals and rising prices
'We went from 80% [occupancy] to zero,' one host says in a common refrain among property owners who say they saw a sudden decline in the summer months
Read in MarketWatch: https://apple.news/AdrYD7GfHS-O23tniF6j7fQ
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10-21-2022, 01:19 PM #23015
^^Excellent news.
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10-21-2022, 01:27 PM #23016Registered User
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You can get a fixed rate but the % charged is higher depending on how long of a fixed rate you choose and the payments are amortised over 25 years or whatever you chose, my last mortgage was amortised over 30 yrs so I didnt have to get a job while waiting for mom to die
Variable rate mortgages have been very popular cuz they were cheaper when rates are low but now you thro in rising rates/ inflation/ yada/ yada some people may now might have mortgage payments they can't afford when they have to remortgage
but nobody could have foreseen thisLast edited by XXX-er; 10-21-2022 at 09:30 PM.
Lee Lau - xxx-er is the laziest Asian canuck I know
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10-21-2022, 01:51 PM #23017
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10-28-2022, 12:58 PM #23018
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10-28-2022, 01:36 PM #23019
We are seeing STR being advertised as "medium term" and some as long term in the MLS now. Bozeman only so far. I have clients with STR properties in Big Sky and wondering if they are already seeing decrease in their advanced bookings yet.
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10-28-2022, 04:18 PM #23020
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10-28-2022, 04:25 PM #23021
Stay in a hotel. Fuck STR.
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10-28-2022, 05:11 PM #23022
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10-28-2022, 06:30 PM #23023Registered User
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10-28-2022, 07:13 PM #23024
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10-28-2022, 07:16 PM #23025
Also, all real estate is local isn't just a cliche
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