If you sell a house these days, the buyer might be a pension fund
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Re: If you sell a house these days, the buyer might be a pension fund
#2[flagged]
Re: If you sell a house these days, the buyer might be a pension fund
#3[flagged]
[deleted]
Re: If you sell a house these days, the buyer might be a pension fund
#4This hurts people who already own houses, too - property taxes are assessed on the appraised value of the home, which is a function of what the similarly-sized houses in your area sold for most recently. My property taxes have increased 10% every year for the past several years (and it would have been more if not for a legislative 10% annual cap). I worry that there will come a day when I've paid off my mortgage but won't be able to afford to pay the real estate tax any more.
Re: If you sell a house these days, the buyer might be a pension fund
#5This doesn't make a lot of sense to me. Why would an entity trying to maximize profits pay an extra 20-50% to purchase an illiquid asset?
Re: If you sell a house these days, the buyer might be a pension fund
#6[flagged]
Sure, but that should be land held in the commons, not private home ownership.
Private homeownership is just LARPing owning real capital to placate a new conservatized middle class, completely inefficient as rising prices cannot spur more land production and in fact preclude intensification use since the middle class homeowners don't have real capital to convert to apartments (even if zoning was relaxed), and historically tied up in all sorts of racist shit to boot (redlining, covenants, etc.).
Re: If you sell a house these days, the buyer might be a pension fund
#7[flagged]
I wish you didn't change your comment because I liked your original question.
Re: If you sell a house these days, the buyer might be a pension fund
#8I'm sometimes afraid of these "mega-corps" that have the effect of really changing things. Sometimes in a bad way. Sadly, once you've got money, you can earn much more. What the limit to t->infinity ? One single corp dominating the world ?
Re: If you sell a house these days, the buyer might be a pension fund
#9This hurts people who already own houses, too - property taxes are assessed on the appraised value of the home, which is a function of what the similarly-sized houses in your area sold for most recently. My property taxes have increased 10% every year for the past several years (and it would have been more if not for a legislative 10% annual cap). I worry that there will come a day when I've paid off my mortgage but…
Once you can't afford to pay the GOVERNMENT any more because property taxes have skyrocketed out of control I'm sure a private company will be happy to swoop in and buy your house out from under you.
Re: If you sell a house these days, the buyer might be a pension fund
#10Its worse than that. As a tenant, you cannot have people who are not on the lease stay long term without them going through a background check. This means that you may end up increasing the homelessness of relatives with temporary financial issues and also isolating potential mates with financial issues from living with their significant others until married, forcing the better financially equipped mate to take a hit to their credit/rent risk and lose the ability to rent in a better area. Also, you are severely limited in the things you can do at leased residences. Garden? Maybe not if its in the lease.