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1   rootvg   2018 Apr 12, 11:53am  

The bust is here. That's one of the signs everyone looks for.
2   Malcolm   2018 Apr 12, 7:19pm  

Waiting for someone to say it’s because it’s winter. No one moves in winter, ????
3   lostand confused   2018 Apr 12, 8:33pm  

Any reason? Trump tax cuts hitting the rich of NY due to inability to deduct high state and property taxes.
4   FortWayne   2018 Apr 12, 9:15pm  

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.
5   Malcolm   2018 Apr 13, 8:02am  

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 doesn’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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