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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

#271

Post by plank_time »

gowld wrote: post #224
plank_time wrote: post #209

Earlier quoted context omitted.

You’re saying that old people should be driven out of their houses because younger, richer people deserve to live in their houses. I’m sure your feelings will change as you get older.

Paying taxes on unearned gains is not "driven out of your house". You can keep the house and pay taxes on the gains. > I’m sure your feelings will change as you get older. Yes, this is the problem. Extreme self-interest and entitlement to massive windfalls.

How are old people with no income supposed to afford capital gains taxes?

And if house prices go down do they get a refund?

Re: If you sell a house these days, the buyer might be a pension fund

#272

Post by throwitaway1235 »

TheCowboy wrote: post #129
yabones wrote: post #102

Things went off the rails at the end... > Well, the banks are controlled by and in bed with the same cabal buying everything up. You think this will be corrected by market forces when it is a financial and political pincher movement pushed by the same cabal that stole the 2020 election & hid COVID Truth? You are fucked. https://twitter.com/APhilosophae/status/1402449561864577024 IMO, weakens the entire 'thread' and m…

People using "The Great Reset" as a pejorative tend to have their views deeply rooted in right-leaning garbage conspiracy theories. Surely there's a better source for what Black Rock is doing than this person's Twitter thread. > Only the worlds largest asset manager and the leading proponent of The Great Reset. https://twitter.com/APhilosophae/status/1402437638423035906

People and organizations with wealth are dumping their money into the stock market or real estate because the dollar is being intentionally devalued.

Your complaint is the label? Great Reset sounds apt.

Re: If you sell a house these days, the buyer might be a pension fund

#273

Post by ska »

plank_time wrote: post #209
seanp2k2 wrote: post #170

Earlier quoted context omitted.

I’ve ranted about this before but CA Prop 13 not only makes housing a good investment, but one that you’re extremely incentivized to hold onto forever and never move. Two people can be living in houses next to each other valued around 1.5m, and one of them will be paying 1/10th the tax. If anyone wants to buy a house, they have to first be able to afford the property, so the barriers to entry are so much higher for t…

You’re saying that old people should be driven out of their houses because younger, richer people deserve to live in their houses. I’m sure your feelings will change as you get older.

Something like prop 13 isn't the only way to avoid that.

Some jurisdictions allow you to defer property tax indefinitely in the form of a lien against the house which seems like a reasonable way to do it.

Re: If you sell a house these days, the buyer might be a pension fund

#274

Post by TheCowboy »

gfodor wrote: post #230
TheCowboy wrote: post #217

Earlier quoted context omitted.

Conspiracy proponents act like the lab leak theory being true is some game changer. It's the stupidest thing. Even if it wasn't leaked, China sure did a lot to mess up and exacerbate the early response to the pandemic for the world. Additionally, people have been critical of wet markets in China from early on, one suspected source of where it first spread to humans. I have no problem with investigating if it was a la…

> trying to turn this into some political wedge issue that you wield as a cudgel against 'the sheeple' This thing you did here is mind-reading - nothing you wrote here is present in my original comment. You may be living in a small set of filter bubbles compared to the average.

I changed "you" to "people" since I meant it in the general sense of how self-proclaimed skeptics treat this topic and say condescending things like this:

> You may be living in a small set of filter bubbles compared to the average.

Re: If you sell a house these days, the buyer might be a pension fund

#275

Post by plank_time »

arrosenberg wrote: post #255
plank_time wrote: post #209

Earlier quoted context omitted.

You’re saying that old people should be driven out of their houses because younger, richer people deserve to live in their houses. I’m sure your feelings will change as you get older.

That may have been the case when Prop 13 was sold to the public, but at this point it's mostly being used to accumulate wealth, not keep people on fixed incomes in their lifelong homes. If that was the goal, there is a much better solution - let the elderly accumulate the tax bill against the value of the house, and collect from the estate when they pass.

When houses get sold, capital gains need to be paid. This is nothing new.

Re: If you sell a house these days, the buyer might be a pension fund

#276

Post by hn_throwaway_99 »

gentleman11 wrote: post #238

Twitter is an awful blogging format when your message takes more than one tweet. It makes you blend in as well, making it easier for fake news to spread - you aren’t that different from a billion other accounts all saying striking things. At least with a blog, you have a more recognizable identity and the ability to write more than a few words at a time

We know. This sentiment is expressed literally every time a Twitter thread is posted to HN. Use threadreaderapp unroll and move on.

Re: If you sell a house these days, the buyer might be a pension fund

#277

Post by datavirtue »

tachyonbeam wrote: post #186
OJFord wrote: post #137

Earlier quoted context omitted.

So, also make holiday homes also illegal?

Maybe? They are a luxury for the upper middle class, and you could easily rent one the same way you rent an airbnb. Those holiday homes do need to belong to someone though, so I suppose it makes no sense to outright ban own multiple homes, but we could structure it so that resale is more highly taxed, particularly resale after a short time (i.e. people "flipping" properties).

Ok...we need more houses so tax the hell out of developers?!

You need people to be able to build and flip properties without being taxed at all. The current taxes are carving a modest profit down to "not worth it" for a lot of people who could otherwise build and revitalize affordable housing.

More taxes on home sales results in less homes for sale.

Re: If you sell a house these days, the buyer might be a pension fund

#278

Post by world_peace42 »

woodruffw wrote: post #187
world_peace42 wrote: post #168

Earlier quoted context omitted.

I clicked it. Looks like he's a Republican and a Christian (and has pretty standard opinions for that intersection) who likes to write long political essays. Are you sure he's a nut job, or could you possibly just be a bigot?

COVID denialism, election denialism, and “The Great Reset” are high profile crank subjects. Being a conservative Christian doesn’t make you a crank; those things do.

I remember last year when believing COVID may have come out of a lab made one a crank. It was only on certain news channels or specific papers. Of course, let's also assume there are no widespread liberal beliefs (the world is going to end in 12 years) that should label someone as a crank.

Re: If you sell a house these days, the buyer might be a pension fund

#279

Post by burkaman »

world_peace42 wrote: post #168
cortesoft wrote: post #151

Earlier quoted context omitted.

If you think that was disturbing, check out the substack linked to the twitter account. Full on nut job.

I clicked it. Looks like he's a Republican and a Christian (and has pretty standard opinions for that intersection) who likes to write long political essays. Are you sure he's a nut job, or could you possibly just be a bigot?

The first post calls for a nationwide armed militia to protect "conservative" society from its fellow "progressive" citizens. I don't know if this is standard, but it is not a good idea, and it is not bigoted to call it crazy. Anybody anywhere in the modern world who calls for an armed force to be created explicitly in the name of "God Almighty" (or some synonym of that) is crazy.

Re: If you sell a house these days, the buyer might be a pension fund

#280

Post by RIMR »

yabones wrote: post #102

Things went off the rails at the end... > Well, the banks are controlled by and in bed with the same cabal buying everything up. You think this will be corrected by market forces when it is a financial and political pincher movement pushed by the same cabal that stole the 2020 election & hid COVID Truth? You are fucked. https://twitter.com/APhilosophae/status/1402449561864577024 IMO, weakens the entire 'thread' and m…

It really was a bad end. Pretty much describes how capitalism's natural end will fuck us over, and then decides to throw in some support for the billionaire landlord president he liked...
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