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1   rootvg   ignore (0)   2018 Apr 12, 11:53am   ↑ like (0)   ↓ dislike (0)   quote   flag        

The bust is here. That's one of the signs everyone looks for.
2   APOCALYPSEFUCKisShostikovitch   ignore (37)   2018 Apr 12, 12:02pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Just refuse to rent. Let them all fucking die in the dark and cold. And keeping doubling the rents and hiring goons to soak down the vagrants with water canons.
3   Malcolm   ignore (1)   2018 Apr 12, 7:19pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Waiting for someone to say itโ€™s because itโ€™s winter. No one moves in winter, ๐Ÿ˜„๐Ÿ˜„๐Ÿ˜„๐Ÿ˜„
4   lostand confused   ignore (0)   2018 Apr 12, 8:33pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Any reason? Trump tax cuts hitting the rich of NY due to inability to deduct high state and property taxes.
5   FortWayne   ignore (4)   2018 Apr 12, 9:15pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

lostand confused says
Any reason? Trump tax cuts hitting the rich of NY due to inability to deduct high state and property taxes.


I don't think that really kicked in yet. Most people pay taxes at the end of the year, so they'll likely procrastinate, and just be surprised when filing in April of 2019. Very few pay quarterly.
6   Malcolm   ignore (1)   2018 Apr 13, 8:02am   ↑ like (0)   ↓ dislike (0)   quote   flag        

lostand confused says
Any reason? Trump tax cuts hitting the rich of NY due to inability to deduct high state and property taxes.


Remember, the tax plan doesnโ€™t change how landlords treat interest and tax deductions as business costs. Guessing it is more an affordability situation.

The interesting thing is a 10% rent decline is huge. It is enough that some properties will be pushed to being cashflow negative. Also, depending on how it hits cap rates and profitability, values will fall as much as 20x the loss in annual revenue.

Translation: if a property makes $1,000 less per year, the value could fall $20,000.

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