Posted on 03/21/2022 7:27:58 PM PDT by yesthatjallen
Many young “normals” prefer to avoid buying because they are making a risky investment in areas that are ripe for “urban resettlement” (as gibsmedats are farmed out from bankrupt cities no longer able to provide services) or immigrant trafficking (to combat decades of negative American birthrates); it is much harder today to predict the future stability or viability of what years ago would have been relatively “safe” places to commit to mortgages.
I’m describing Fannie Mae and its actual slogan.
OMG!
May I ask what range your CS is in?
House prices and availability here in Charlotte has been just insane over the last year. People offer $40,000 over asking price and still lose on bids. You go to new developments in the exurbs and all you see are sold signs....even when its just an empty dirt lot and they haven’t even started construction yet. You look at houses and see what the price was the last time they sold 3-4 years ago and you notice the current price is DOUBLE what it was since then.
I haven’t bought for this reason. I’m waiting for interest rates to go up and for the inevitable crash in real estate prices. This is obviously a bubble.
It might make good sense to rent one of these "corporate owned" homes. Eventually the business model will collapse and the renters will be able to buy their home for a song.
Even people that “own” their homes, i.e. paid off their mortgages, still “rent” from the government thru their monthly property tax bill.
I used to lean more libertarian than I do now. The reason is I have come to realize the extent of political interference in the market whether it beL
- Big Tech with their monopolies which work together as a cartel
- countries like China which massively cheat on trade deals erecting non tariff barriers, stealing technology, manipulating their currency, having no environmental or labor standards, etc
- Large banks and hedge funds which get all kinds of loopholes, tax breaks, subsidies, etc to do things regular investors cannot do
- letting in millions of low skilled illegal aliens or handing out H1b’s and other work visas by the millions to flood the market with skilled workers so as to crush the bargaining power of both blue and white collar workers.
Large players will always have an army of lobbyists and lawyers and accountants that individuals and small businesses will never have. They warp the market to such an extent that it can hardly be called a free market any more. That’s what hardcore Libertarians cannot seem to see. For that reason, I’m much more of a populist now. I’m much more willing to use the power of government to put its finger on the scale the other way to balance things out.
Well, not exactly.
That dog never hunts
Stop paying your property taxes and the government bank takes your home.
The law authorizes taxation by the local governments. There are penalties for noncompliance
In the beginning all property was in fact owned by the Federal government or the Crown. The land was sold or conveyed by grant and the owner was given a properly deed that proved ownership. The local governments do not now and never did own property out side a deed.
The primary fact running through American history over and over every where is the transfer of property. The record is very clear. The governments have no claim to deeded property
Your canard is just not true
Agreed—in the medium term these houses will have deferred maintenance—and then the investor class will flee—and .gov will bail them out....
This is one rigged poker game. If you don’t know who the mark is, it is you.
Tax liens on your property. The penalty for non-payment is that the government takes the property.
We are in Atlanta and investors are buying up everything they can get their hands on. Prices are through the roof.
It is all about the definition of terms.
No-one imagined that Big Tech and Big Finance would become the international monsters they are today.
They got that way with a combination of free market forces and government intervention.
I consider myself a libertarian, but that cannot work in a world where these mega corporations control everything—so I want them trust-busted into a million pieces.
Libertarian should not mean you have joined a suicide cult.
Agree!
I tend to agree with you. I would like to be more libertarian. The free market should work the way they envision it. It just can’t while we have Big Tech, the Corporate media, a lot of huge financial institutions etc who have so effectively lobbied government. Ideally I’d like to see a lot of these busted into a million pieces by anti-trust actions and prevented from colluding with one another like they do now.
Unless and until that happens though, I’ll support Trump style populism to tariff the crap out of China, close the borders, pump our own oil and gas, and at the very least clip the wings of Big Tech in any way possible and prevent the Banksters from imposing harmful regulation on crytpcurrency or introducing CBDCs. These are limited victories but I’ll be happy to take them.
So what?
That statement implies the inaccuracy and bogus assertion of your original post. The law says unequivocally you must pay taxes and provides penalty for nonpayment
The business of government liens applies to all sorts of penalties for non compliance. Failure to pay income tax can ultimately result in a lien on bank accounts and property.
Your original premise is just wrong, totally wrong. The government does not presently own your property and it has been a very long time since the government transferred owner ship in fee simple by grant or deed to the original owner
As I said earlier........ this is bed rock American history that is all about private ownership of land. There are millions of acres of government owned land out west that no private individual wanted.
Everything is freaking insane price wise here. I'm just waiting for interest rates to go up which (should) drive prices down based on history.
Given the world we live in, who really knows if that'll happen. I'm keeping my fingers crossed that it does. Prices here have to fall @ $60k for me to get back in the market and buy a home - for cash.
I want prices to fall @ $60k and I'm going to pay cash. I may opt to sell my townhome and recoup some/most of what I'll pay for the home I need. I may opt to rent it out at $2500/mo which is the going rate for the square footage/#bedrooms/#bathrooms I have.
I just desperately need to get out of this townhome and all the stairs it has before I fall (again) and break something (again).
The problem in the market where I live is that it's ALL CASH buyers. Every seller is rejecting "contingent on sale" or "contingent on loan" because they know cash buyers are out here and most of the cash buying that's happening right now is due to real estate speculation/large property management companies buying up all the homes and turning them into rentals.
Before we know it, we're all gonna be living in Pottersville!
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