Has anyone bought their first home near a major city in the last 12 months?

Horseshit, I’m using the real world examples we have in this thread… “yeah but I’d like to have a yard, a garage for storage, but also want to take the bus to work”. People have wants, they all cannot be met by building up. Furthermore all the building up examples I’ve ever been presented with, planned walkable communities, etc. have two common characteristics in my experience - limited living space/high prices. Which really doesn’t solve anything for my HVAC repairmen and his receptionist wife and their two kids. But you have more societal value and utility than them bc two pieces of paper say so, so fuck em.

 

More bad faith nonsense. Just stop, no one is biting on your crap mommas boy

 

What does this mean?

 

All the above. Why let you and I grow wealth in a home when they can do it?

 

You clearly didn't read his post based on these comments.

 

I can't tell if the housing market in my area is actually outrageous *Omaha/Lincoln or I'm just tight with my money.

 

Nobody who is good at construction needs to find work because their schedules are already plum full.

 

Forewarning you're engaging someone who's been arguing in bad faith from the get-go and completely ignores portions of what I wrote and continues to act like they don't exist to push some weird agenda even tho these parts were clearly pointed out to him. I wouldn't waste too much time on him. Apparently stating that buying a house would "wipe out your savings and put you in a shitty financial situation" means you're "Choosing not to buy a house"

I probably said something terrible to him one day and now he's holding some gruge over like a bitch

He's either incapable of comprehending the English language or mentally handicapped.

 

Lyrtch what is the threshold at what I'm allowed to provide for my children? You're fighting innate parenting instinct here. My life's goal isn't to be rich, but absolutely for my kid to have it better than I did. I hardy came up hardscrabble poor, but I'd like to give him/her all the advantages I possibly can.

 

You nor I are ever hitting that threshold.

 

This.

I feel like I'm negotiating NFL contracts with these guys

 

My wife can’t which is why we haven’t moved back north :(

In a related note, we bought in McKinney, TX fall of 19, 3BR, 290K and the Zillow estimate today is 475K. Just absurd

 

There have been multiple users who have parroted the line of taxing unrealized cap gains tax on property. I'm the most simple simpleton, how does that work?

Lyrtch was one (shout out big boy, we don't comm much)

 

Nothing grandiose. I simply enjoyed dorm life as a teen. I'm glad to hear you're enjoying it as a full grown.

 

Send it.

You won't.

 

I'm simply glad to see that you are living your truth. You are who you are, and you own it. Keep it up.

Not many walk their talk. You talk a lot of shit but you always back it up. Props.

 

If you can handle the weather? Spent two years living in Hastings, what's objectionable about the weather? It has slightly more seasons than the south but isn't cold like the north

 

Nevertheless I still would like someone to inform me how I can pay unrealized cap gains on property.

I'd like to be a productive and reliable member of society, at the very least pay my fair share.

Oranjello TAXTAXTAX

 

Where’s the landlord friendly thread? I have some questions.

 

Crypto thread

 

I don't think there is one.

Go ahead and start one imo.

 

Restricting landlords from buying housing would reduce the supply of housing available to rent, which would cause rental prices to rise further. It might make people feel good, but it would not solve anything.

If the goal is to reduce the rates for rental housing, the solution is to build more of it. In particular, cities already have mechanisms to build housing that can be rented at below-market rates (housing authorities). This can be incredibly effective over a 10-20 year timeframe. But in America, cities have left this system unfunded and neglected for political reasons -- they don't want to attract poor people, they are unwilling to raise property taxes or to direct local tax revenues towards housing, etc.

 

Seattle is there

 

i think it is a mistake to reduce this issue down to 'landlords and blackrock.' causes of expensive urban real estate, in no particular order :

Supply side
- single family zoning
- failing to adequately fund public housing
- mandates on parking requirements
- mandates on setbacks (how far you must build from road)
- tariffs on building materials
- reduced illegal immigrants (construction labor)
- limitations on water and sewer expansions capacity, planning, and capital funding
- limitations on school and transportation capacity, planning, and capital funding
- building restrictions in critical watersheds
- tree preservation rules for new developments
- new stormwater management requirements
- urban growth boundaries / mandated green belts
- convoluted / ineffective 'affordable housing' schemes

Demand side
- tax subsidies for mortgages
- preferential tax treatment for real estate investors
- accommodative central bank policy (low interest rates)
- exemptions for inheritance tax
- central bank purchasing mortgage bonds / quantitative easing
- past bailouts of lenders and mortgage bondholders
- increased skilled immigrants (new net housing demand)
- immigration via investments (investor visas)

 

Lotta big words for a Sunday morning my guy

 

It’s usually too much of something and the wind is a motherfucker. Otherwise no it’s not usually actually that bad but we have a lot of southern nancies on TMB

 

Argument will be it incentivizes rental supply and not everyone who rents wants an apartment. Whether that works out well in practice is another issue.

 

Even the Brookings Institute doesn't think the solution is more public housing.

 

the brookings institute wants what's good for the upper middle class

it makes sense they would oppose raising property taxes to pay for public housing

 

We have a zoning problem. The same people that bitch about “tall skinny” HPR’s are the same ones that say we need affordable housing. What’s more affordable, a SFH at $1.2M or two $600K HPR’s.

People here bitch all the time about a tall house going up next to them. We should not have SFH zoning in an urban area and every lot should have a minimum housing units.

 

damn I wish you would have let the furor over that map go on for another 10 pages

geographic debates are a top 5 jimmy rustling topic on this board. Everywhere sucks except the city I live in!

 

I don’t think lobbyists would ever let it happen, but what would you say about getting rid of the depreciation deduction for rental real estate? I am not a personal income tax expert but I’ve never really agreed about how necessary that is when it comes specifically to real estate. That simple change would make the benefit of gobbling up real estate a lot less attractive for landlords.

 

It’d most likely apply only to stocks and other items of property with a robust and established market, so figuring out values would be objective and straightforward. For example, on 12/31 each year, the wealthy would mark to market their stock holdings and pay taxes on the gains YOY. I doubt it’d apply to residential homes.

 

I have two bottle service girls that are currently in GC school/training - that's how attractive construction/development has become as a career.

I've never had a female GC/project manager before but I would bet we start seeing them in that space a lot more frequently.

 

How do I become a home builder. I’m a project manager building stuff way harder than a home

 

That isn't their criticism of the public housing though...

 

That should be a pretty easy transition tbh - just need a contractor's license and have really good relationships with the chamber of commerce and the city in most states.

There was a guy a few years back that tried to skirt the California law of needing a license to do construction by only doing $499 of work at a time and claim they were all separate projects (the threshold for needing a license is $500) but it panned out about as well as you'd expect.

 

Yeah I’ve been doing some juggsian research and it doesn’t seem like anything I don’t already do just a different application. Not worried about pulling permits. Can’t get much more difficult than San Bernardino County and New Jersey which I have already done.

 

It took me about 10 years to get enough political pull to get permits expedited out here, lol.

JH - they basically asked me to do something there and they would OTC everything.

 

You could if you sold some shoes.

Or win the lottery, wherever happens first.

 

There is a 15mm limit per person that is tax free. You'd be able to let you kids and kids kids be fine.

I'm OK with some limit then being 99% after that