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B.A.C.A.H. saysFarmer,
How many local homeowners told you this?
farmer2021 saysTypical reason people don;t cell bay area real estate:
1) capital gains tax. Large number of families have $500k+ gains.
2) Fear of never been able to return to bay area if sell their house and priced out in future. So willing to get shitty yields.
3) House prices always go up and govt insures that they do.
If a $2M home have $72k rental and house appreciate 5% .. Rental yield becomes meaningless and it is happening for long time.
4) Prop 13 locks your property tax.
Bay area have the mix of all ingredients to keep house prices high.
Many. Upper class(Not ultra wealthy) asians typically have this thinking.
the past few years.
Farmer,
How many local homeowners told you this?
farmer2021 saysTypical reason people don;t cell bay area real estate:
1) capital gains tax. Large number of families have $500k+ gains.
2) Fear of never been able to return to bay area if sell their house and priced out in future. So willing to get shitty yields.
3) House prices always go up and govt insures that they do.
If a $2M home have $72k rental and house appreciate 5% .. Rental yield becomes meaningless and it is happening for long time.
4) Prop 13 locks your property tax.
Bay area have the mix of all ingredients to keep house prices high.
It's hilarious, they're signing up for a massive annual property tax bill. ... And because of the recent Republican authored changes to the income tax law, the entire amount of those property taxes can no longer be deducted from the (required) super high incomes to service the property tax bill.
Article is for the UK, but the same conditions exist elsewhere.
Landlords just got fucked and they are not going to allow it again. I expect to see 6 months+ of rent up front. They will call it something else, but yes expect it. They will try to pin it as as racist, but economics will prevail.
but never understood some of the regulations in Chicago.
Russia to exit from all Dollar assets in its Wealth Fund & to invest in Euros, Pound, Gold, Yuan instead - Russian Finance Minister Siluanovsite.
"We can make this change rather quickly, within a month," Siluanov told reporters Thursday. The transfer will affect $119 of a total $186 billion in liquid assets.
porkchopexpress saysRussia to exit from all Dollar assets in its Wealth Fund & to invest in Euros, Pound, Gold, Yuan instead - Russian Finance Minister Siluanovsite.
"We can make this change rather quickly, within a month," Siluanov told reporters Thursday. The transfer will affect $119 of a total $186 billion in liquid assets.
Isn't that chump change?
Bitcoin saysBidding is the new way.Sell houses on eBay?
WookieMan saysbut never understood some of the regulations in Chicago.
Politicians pandering to their mostly deadbeat clientele. In Baltimore City there is even a regulation requiring that when you throw someone out, you have to put their stuff in a storage unit within one mile of their rental location.
Houses going up 45% then?
Vacant land values will skyrocket and builders still won't build.
Eric Holder saysTop? Not so fast!
Houses going up 45% then?
WookieMan saysVacant land values will skyrocket and builders still won't build.
In SoCal they are building everywhere they can and get a permit for.
There's no logic in the market when a fuck ton of people aren't working yet stocks and home values increase at epic levels.
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I also have a few zip codes in Florida that I monitor, and I'm starting to see a lot of price reductions being posted as well.
Have we reached the top?
I think inflation is here for sure, but I'm wondering if we over shot with commodities and real estate and there is a good sized correction coming over the next year or so.