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21
That proposal exempts rental properties and is intended to reduce vacancy rate. In a really ham handed way imo. Just tax the value of the land and holding vacant or undeveloped property will be disincentivized.
22
This is the same ideas as Canada’s New Proposal to Tax Non-Resident Homeowners. Over sea investor snatched up properties and frustrated prospected buyers in Canada.

https://www.mansionglobal.com/articles/can-you-explain-canadas-new-proposal-to-tax-non-resident-homeowners-226964

The FED and Congress care little about affordable housing. The housing industry is huge. How huge, about 31 Trillions dollars. The pockets of these politicians is also lined in some ways with these profits. For buy and lease, the number have to make sense. Right now, there is no freakin way to buy in Irvine and lease out and not in big hole. I don't reccommend buy for future appreciation play. That's not a good idea. Buy in a place that you love where to live and able to live with it for long while.
23
You can't reduce the cost of something by taxing it
24
If the Fed and Congress were actually serious about affordable housing (spoiler alert... they are not.) both entities would work quickly to revise the tax system make it unsustainable for Hedgies to buy up everything they can. They could start by hypertax large LLC SFR owners rental income which compels through financial methods the eventual liquidation by mass unit owners of their housing stock. Yes, overall prices would drop a bit in some areas. Are hedgies buying Irvine properties to lease long term?Don't know, but would really love to see the stats. Certainly other SoCal Counties would experience price drops given how many homes are in the portfolios of hedge funds.

Ask yourself this: would you rather see 1/2 the block you live on as Blackstone owned rental properties, or owner occupied homes for 1st and 2nd time buyers?  Which pathway is better for the long term benefit of society? Concentrated ownership or mass ownership? 
25
Technology / Re: Apple Products for Fall 2021: iPhone 13, Apple watch 7, etc...
« Last post by momopi on Yesterday at 11:59:27 AM »
As much as I'd like to replace my old MacBook, I think I'm going to buy a Win/Intel gaming laptop for New World.

Currently looking at Costco's MSI offerings.
26
I don't think the case for higher rate will lower real estate price. How high is too high in rate for the real estate to crash should be the question?

Right now, even Owning is sitting at 3.125 for 30 years, and we know Owning only do primary and stellars credits. If the yield control were not in place then rate historic standards should be 6ish or low 7, right? Then the sky would fall. The key here IMHO is that the FED flood the liquidities into the systems. From Hedge Funds to shadow banking has ample of ammunitions and buy. What will that do to price of assets? It at least stablize. We all saw it. No suprise there.

I agree with you that higher interests won't have a big effect on real estate prices unless they go significantly up.  However, there are a lot of potential buyers who think and hope that even a moderate interest rate increase will cause prices to decline (which it won't).  I think worst case prices will be flattish but from what I see today prices are heading higher.

Some members on here including you, who are correct in saying don't time the market, buy when you can afford it.

The huge problem now is for first time buyers, with the competition from corporate funds, hedge funds and bidding war result in having them priced out. For buyers that already own and trade up, they will have the appreciation of equities in the run up to trade up. Not fair, but that's where we are, unless we have a Paul Volcker style as the next FED chair person. For owners a few will be upgrading because of low locked in fix rate to change up. For young buyers its a bitter pills to swallow. Many will sit out. Hence the stagnate market will soon follow. I think you built a solid reputation not only here but also in real life, so your business stream will continue. For many other realtors, competing is fierce with Zillow, Redfin and even Opendoor platforms taking a huge bite out of their bread.
27
Economy & Finance / Re: Stock picks
« Last post by momopi on Yesterday at 11:12:10 AM »
Nike shifted to DTC (direct to consumer) and cut wholesale accounts with Big 5, DSW, Urban Outfitters, etc.

The current supply issues has caused many retail stocks to tank.  KSS and FL dipped from $65 to $45, I've started buying both.  I'm actually hoping they would dip further so I can average down.

These are not very long holds.  I plan to sell them next year for a profit.
28
I don't think the case for higher rate will lower real estate price. How high is too high in rate for the real estate to crash should be the question?

Right now, even Owning is sitting at 3.125 for 30 years, and we know Owning only do primary and stellars credits. If the yield control were not in place then rate historic standards should be 6ish or low 7, right? Then the sky would fall. The key here IMHO is that the FED flood the liquidities into the systems. From Hedge Funds to shadow banking has ample of ammunitions and buy. What will that do to price of assets? It at least stablize. We all saw it. No suprise there.

I agree with you that higher interests won't have a big effect on real estate prices unless they go significantly up.  However, there are a lot of potential buyers who think and hope that even a moderate interest rate increase will cause prices to decline (which it won't).  I think worst case prices will be flattish but from what I see today prices are heading higher.
29
I don't think the case for higher rate will lower real estate price. How high is too high in rate for the real estate to crash should be the question?

Right now, even Owning is sitting at 3.125 for 30 years, and we know Owning only do primary and stellars credits. If the yield control were not in place then rate historic standards should be 6ish or low 7, right? Then the sky would fall. The key here IMHO is that the FED flood the liquidities into the systems. From Hedge Funds to shadow banking has ample of ammunitions and buy. What will that do to price of assets? It at least stablize. We all saw it. No suprise there.
30
A lot of people are hoping that mortgage rates goes up so that it will translate to lower real estate prices, I just don't see it happening.  I said it a few times, we are slowly becoming Japan 2.0 including on the interest rate front. 
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