Americas rotten capitalism

Discussion in 'Political Action Forum' started by Bclick, Jun 10, 2021.

  1. API

    API PAF-CA Flyway Moderator

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    Being empty nesters, the wife and I have discussed the possibility of downsizing. One agreement we have is that we will entertain offers only from families that intend to occupy and not accept offers from "investors". We are fortunate to be situated such that we shouldn't be penalized for that approach.
     
  2. Bclick

    Bclick Elite Refuge Member

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    We know one couple that sold this spring thinking they were making out like bandits, "we sold in 1 day"....now they have been aced out of multiple attempts to buy getting way overbid. Good luck moving back in with her folks. Will be a real treat at 45.
     
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  3. API

    API PAF-CA Flyway Moderator

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    Folks, pay attention here. Is this about an opportunity to learn or what!
     
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  4. WidgeonmanGH

    WidgeonmanGH Elite Refuge Member

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    Young couple in our church bought their house for the mid 300's 3 or 4 years ago. 3 bed two bath ranch, with 2 car garage and larger than average lot. They listed for $515k and got $545K. They not only paid off all debts and student loans, but have over 100K down payment for the next house. They are renting a town home debt free waiting for the inevitable crash to get back in the market. Oh yeah it took them less than a week to sell their house, and the offers come with letters with pictures of the families and why they want to buy the house.
     
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  5. Rogue Hunter

    Rogue Hunter Elite Refuge Member

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    Sounds like people having to audition to buy houses like young people sending a dvd to college admissions dept.
     
  6. widgeon

    widgeon Elite Refuge Member

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    That's the thing to do. I wish I could talk my wife into selling and renting for a while. Like PIn said, there's going to come a time when the bubble bursts and that's the time to be ready to buy.

    Lots of people will find themselves upside down.
     
  7. Aunt Betty

    Aunt Betty Elite Refuge Member Supporting Member

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    I don't think the next bubble is a bubble it's a flush.
    They'll flush it all down the drain via taxation.
    Your home will become so valuable that the taxes become unwieldy and you decide "I'll just rent ". You sell and get a pile of worthless money because the great reset...
    Renting means that 168 square foot efficiency.
    You will own nothing and be happy.
    :)
     
  8. Dek

    Dek Elite Refuge Member

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    Did they set enough $ aside for their capitol gains taxes? That's going to leave a mark! There are always cycles in real estate, it will be interesting to see how and when this current market cools. Hopefully their strategy works out for them. Better model may have been to keep it for a rental and claw their way in to a second home. In the long run, homes won't be getting any cheaper.
     
  9. yellowlab03

    yellowlab03 Elite Refuge Member

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    We didn't send a DVD. We essentially beat out better cash offers by "selling" ourselves to the owners. They didn't want some city family from Seattle moving to their home and messing with the neighborhood or some investment companies buying it and flipping it. Dude told me straight up if I was a Democrat to not even make an offer.

    When we sold our house we accepted a lower offer because the buyers were a younger military family buying their first home. They also waived inspection and some other things.


    YL03
     
  10. KENNEDY63

    KENNEDY63 Elite Refuge Member

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    Home sale exclusion. Feds have it - the state they are in may not.
     
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