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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

#321
post #224

Earlier quoted context omitted.

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?

Mark to market property taxes do go lower when assessments go lower.

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

#322

Earlier quoted context omitted.

What conspiracy? “You’ll own nothing and you’ll be happy.” is something they said.

Who is "they"? Some article in a newspaper? A handful of researchers and futurists? Edit: Got it. It's from a list of unsurprising predictions from [at least] the marketing department of the World Economic Forum. Thanks.

WEF also still has a 'the great reset' section on their official website https://www.weforum.org/focus/the-great-reset. WEF is essentially all those billionaires that meetup in davos every year

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

#323
post #224

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.

Prop 13 is a limits how much property tax can increase in a year. So hypothetically without prop 13 it would possible that the value of your house jumps 10x and then you're stuck with paying 10x the amount of property tax that year.

I don't think we need to remove it completely but some adjustments like applicable only to a primary residence and not investment or commercial properties would probably go a long way.

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

#324

Earlier quoted context omitted.

What conspiracy? “You’ll own nothing and you’ll be happy.” is something they said.

Who is "they"? Some article in a newspaper? A handful of researchers and futurists? Edit: Got it. It's from a list of unsurprising predictions from [at least] the marketing department of the World Economic Forum. Thanks.

World Economic Forum had a tweet with about 2 min long video describing the near future this way. I believe the tweet was deleted last year.

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

#325

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…

The main reason the homes are being bought up is the lumber and steal costs. Right now, it would cost me $500k to build a house that last year would cost me $190k. Real quotes I got for a possible build. More details on what I’m seeing here:

https://austingwalters.com/stagflation-is-here-monetary-infl...

With that being the case and the dollar appearing to be weakening, it makes since for them to buy anything they can.

Those homes they are buying for $300k would cost $500-$600k to build...

Regarding the great reset - here’s a Bloomberg article on how to navigate it: https://www.bloomberg.com/opinion/articles/2021-05-31/how-to...

It’s real and it’s here.

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

#326

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 don't believe X00,000 died from Covid-19. If I believe Covid-19 exists, am I still a Covid denier?

I feel like absolutist language such as x-denier is designed by stupid people to avoid debate.

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

#327

Earlier quoted context omitted.

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.

Do you ever think about how crank "denialisms" are usually believed by small percentages of the population, but this time with COVID and the election it's nearly half? Isn't that strange?

Most people who voted for Trump believe Trump lost to Biden.

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

#328

Earlier quoted context omitted.

I already pay a Land Value Tax to my town.

The usual advocacy point is to reduce most of the other taxes and send the LVT way up. "We should have a land value tax" is usually meant to mean "most tax should be on land".

Wouldn't this accelerate the displacement of less wealthy home owners in neighborhoods that are being gentrified?

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

#329

Earlier quoted context omitted.

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 don't believe X00,000 died from Covid-19. If I believe Covid-19 exists, am I still a Covid denier? I feel like absolutist language such as x-denier is designed by stupid people to avoid debate.

Yes. That's a crazy belief.

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

#330

Earlier quoted context omitted.

Someone who owns a house in cali is a milionaire. I am not sure it applies to immigrant who just moved to California.

The old person would have sold the house a long time ago because of the rise of their property tax. They wouldn’t be millionaires. They would have to sell their home for a small gain and then rent for the rest of their lives. And since they are old they have no income so they need to keep moving to cheaper and cheaper apartments. Sounds like a great way to live a life, just because younger people feel like they deser…

If their property taxes increased to the point where they cannot afford it, then that means that their property value increased significantly. Excuse me if I don't feel too bad for somebody who just reaped a massive windfall.

The "won't somebody think of granny?" argument doesn't really work when advocating for a policy that disproportionately subsidizes non-grannies.

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