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But with extremely low interests rates, it's far from clear that a flipper wouldn't mind holding a property 3 years. Perhaps there needs to be a slowdown term when they don't occupy it.
Earlier quoted context omitted.
>What’s preventing homeowners from buying and selling to each other directly? Why do we need real estate agents? Because a slight miscalculation in value, lack of market insights or poor salesmanship can lead to tens of thousands of dollars left on the table by the seller.
Yeah, no. In countries like India you don't use agents to buy or sell property and the free market finds value just fine. That's just one example I'm familiar with and it was pre internet.
I've been contemplating what an anti-flipping deed restriction might look like... something that forwards profits made from resale back to the prior seller, with a decay based on how long ago it was. But with extremely low interests rates, it's far from clear that a flipper wouldn't mind holding a property 3 years. Perhaps there needs to be a slowdown term when they don't occupy it.
The table of rates on page 6 says they'll charge up to 80% of your gain on land held less than 4 months. It doesn't seem to cover improvements, though, so it's anti-land flipping tax not an anti-house flipping tax AFAICT.
I've been contemplating what an anti-flipping deed restriction might look like... something that forwards profits made from resale back to the prior seller, with a decay based on how long ago it was. But with extremely low interests rates, it's far from clear that a flipper wouldn't mind holding a property 3 years. Perhaps there needs to be a slowdown term when they don't occupy it.
I've been contemplating what an anti-flipping deed restriction might look like... something that forwards profits made from resale back to the prior seller, with a decay based on how long ago it was. But with extremely low interests rates, it's far from clear that a flipper wouldn't mind holding a property 3 years. Perhaps there needs to be a slowdown term when they don't occupy it.
Earlier quoted context omitted.
Poor Ida Auken. All she does is write a mildly provocative title, and look what happens. Peter Bilmer's response in that thread is visually very clever, even if his politics are probably terrible. I'd like to know what the image at top right is. Some kind of startup accelerator?
I think it might be one of those WeLive "communes".
It was so low-budget, that if the guy weren't on his laptop, I would have considered that this could have been an Evangelical thing rather than a Startup thing.
This currency would be based on algorithmic appraisals of the intrinsic objective and quantifiable qualities that a particular piece of real estate had. The algorithmic appraisal would be designed to appraise the property for the same value over time.
When a seller wants to sell a property, an amount of currency equal to the appraised value is generated, and given to the seller.
When a home is purchased, it must be purchased using this currency, which is then destroyed.
This allows for several key differences over traditional home buying and selling. It creates a sort of limbo in which a home does not have an owner.
The first is that as a seller, you can have your funds immediately without having to find a buyer.
Second is that it moves volatility in housing pricing to a single value: The exchange rate of this housing currency.
Third, because the outstanding currency equals the total of all the un-owned property, it is likely to be a way to invest in the idea of real estate without actually owning any specific property at the moment.
The un-owned properties could be rented out to fund the operation of the system, to help provide funds to stabilize the market and exchange rate, and take care of operational expenses.
I bought a domain a few years ago to act as the focus of this idea.
REITcoin.com
Is anyone interested in going forward with this? I'm willing to sell the domain for the right price, or an equity share in the business behind it. I haven't had a chance to execute on it yet because I have so many other things that are taking priority.
I have come to see house flipping as a horrendous scam that kills the economy and is all but sustainable. And real estate agent are complicit and making the problem worse because it’s making them money One of my accountances is a professional house flipper. They claim to regularly make over 100k of profit on a single house in less that 3 months. Keep in mind they contract out all the manual labour. The 1st step is ob…
Middle men generally have negative impacts on society overall once they become entrenched. Their role becomes less service provider/facilitator and more parasitic. What’s preventing homeowners from buying and selling to each other directly? Why do we need real estate agents? (I ask as a mid 20s engineer who is probably never going to own a home)
A chief problem with technically-mediated intermediaries is that rather than buyers and sellers being directly connected, they are connected through yet another, larger-scale intermediary. Amazon, eBay, and Alibaba are three such instances, and each has its own motivations and opportunities to distort markets.
Regulations, preventing the same intermediary from playing both sides of the transaction (in a pass-through mode, apparently, in the flipping case), fiduciary obligations, and of course, reporting, enforcement, penalties, and decertification for violations, are all highly useful steps.