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More real estate doom and gloom

Discussion in 'Politics & World News' started by Toshi, Oct 24, 2010.

  1. Westy

    Westy the teste

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    Local market seems to be cooling. Looks like a bunch of homes recently sold at list vs the typical 10% over. This tells me there was only a single offer and not a bidding war, Redfin says there were an average of 3 offers vs 10 earlier in the year.
     
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  2. StiHacka

    StiHacka Compensating for something

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    i͓̽t͓̽ i͓̽s͓̽ fu͓̽l͓̽l͓̽ o͓̽f s͓̽t͓̽a͓̽r͓̽s͓̽
    Cryptocurrencies are dropping, too. :tinfoil:
     
  3. Mo(n)arch

    Mo(n)arch Turbo Monkey

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    Yeah, because China has forbidden cryptocurrency in general.
     
  4. stoney

    stoney Part of the unwashed, middle-American horde

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    Glad I sold the majority off earlier this week for profit. This party is over, at least for a while. Deapite what I sold today at loss I still make some profit, albeit not much.
     
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  5. Mo(n)arch

    Mo(n)arch Turbo Monkey

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    I am not too sure what is going on this sector. Having read about blockchain and ethereum, it seems like it could be the next big thing after the internet. Adoption by companies like AXA, Mastercard, BP, Microsoft and a lot of other big players seems to indicate a bright future for the technology.
    If it will help to push cryptocurrency in general - I don't know.

    Would be interesting to see what would happen during a crash - as Bitcoin was started as a consequence of 2008.
     
  6. stoney

    stoney Part of the unwashed, middle-American horde

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    I had Lightcoin that was up 30% and sold the Etheryium that was down 25%. Once we have some settling from the China market, I think I'll go back into the ETN market long-term as a flyer, but only that. It's definitely a flyer and not an investment. It's currency, it has not value as it creates no product and has no sales.
     
  7. StiHacka

    StiHacka Compensating for something

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    A lot of companies new and old are jumping on the bandwagon, selling the blockchain pixie dust to investors left and right. Most of them are working on private blockchains though that have very little to do with decentralized, public and completely transparent distributed blockchains like Bitcoin. "everything on blockchain" is the cool statement du jour but IMHO, private blockchain is nothing but plenty of bullshit.

    The lack of control of public distributed crypto-tokens by government bodies will be their undoing IMO. Or not.
     
  8. Pesqueeb

    Pesqueeb bicycle in airplane hangar

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    I'm not going to pretend like I understand this whole cryptocurrency thing, but isn't this one of the main draws?
     
  9. StiHacka

    StiHacka Compensating for something

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    You mean one of the carrots for luring investors? :D
    Look what just happened in China, looked what happen with gold ownership during the Great Depression - the government can always crush anything remotely threatening its intentions. :tinfoil:
     
  10. kidwoo

    kidwoo Celebrating No-Pants Day

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    Well.......except for a well armed patriot watching over the goverment of course. I mean duh.
     
  11. Westy

    Westy the teste

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  12. ALEXIS_DH

    ALEXIS_DH Tirelessly Awesome

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  13. Pesqueeb

    Pesqueeb bicycle in airplane hangar

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  14. kidwoo

    kidwoo Celebrating No-Pants Day

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    #894 -   Sep 20, 2017
    Last edited: Sep 20, 2017
  15. Westy

    Westy the teste

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    Trumps proposed dropping of mortgage interest as a tax deduction will benefit landlords as it will shift the buy vs rent equation towards the rent option. Of course landlords tend to be the little guy.
     
  16. Adventurous

    Adventurous Starshine Bro

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    #896 -   Oct 6, 2017
    Last edited: Oct 6, 2017
  17. Toshi

    Toshi Harbinger of Doom

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  18. kidwoo

    kidwoo Celebrating No-Pants Day

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    I'm sure mnuchin will get right on this.
     
  19. DaveW

    DaveW Space Monkey

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    By joining in?
     
  20. kidwoo

    kidwoo Celebrating No-Pants Day

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    I can only imagine what similar sweetheart deals goldman sachs got.
     
  21. Westy

    Westy the teste

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  22. Pesqueeb

    Pesqueeb bicycle in airplane hangar

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  23. Pesqueeb

    Pesqueeb bicycle in airplane hangar

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    Pump and dump?

    I don't get it. The neighborhood is okay, but there are a ton of other areas in town I'd rather live. I wish I could financially justify getting out of the zip code.

    Edit: Next door neighbor (the one with the crack head daughter, if you recall) "sold" his house to one of those "Will pay cash for your house quick!" places. $165000 for a place zillow says is worth $247000. He'd paid 113000 in 1995. If I'd known, I might have offered him 170.

    Edit 2: According to zillow, there are 15 "pre-foreclosures" withing walking distance of casa-de-pesqueeb.
     
    #903 -   Oct 24, 2017
    Last edited: Oct 24, 2017
  24. jimmydean

    jimmydean The Official Meat of Ridemonkey

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    Neighbor who is trying to make a quick buck (bought for $265k, selling for $319k after one year of ownership) has only had a couple showings while the house down the street had a sign up less than 2 weeks and is now sale pending. Really only 2 houses that have been up in the past couple months haven't sold and both are asking a bit much.

    After looking at beach property in Long Beach, WA, we might just cash in the 401k, buy a ton of lottery tickets and roll the dice. Winner builds a beach getaway.
     
  25. Nick

    Nick My name is Nick

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    behind you, don't wait up.
    I'm no stoney, but that might not be a sound financial decision...
     
  26. 6thElement

    6thElement Turbo Monkey

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    Yeah don't roll a die, that's only a 1 in 6 chance. You should flip a coin instead.
     
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  27. jimmydean

    jimmydean The Official Meat of Ridemonkey

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    Even Manafort can't catch a break

    Trying to use is underwater condo for bail money. :rofl:

     
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  28. Westy

    Westy the teste

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    It went for $630K.

    Boarded up windows create a lot of curb appeal these days.
     
    #908 -   Nov 6, 2017
    Last edited: Nov 6, 2017
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  29. rideit

    rideit Bob the Builder

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    Boarded up DIRT would fetch the same price tho.
     
  30. Westy

    Westy the teste

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    Probably more, bulldozers cost $$.
     
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  31. rideit

    rideit Bob the Builder

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    Exactly!
     
  32. Adventurous

    Adventurous Starshine Bro

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    Were they boarded up with pallet wood? If so that's artisan AF.
     
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  33. Pesqueeb

    Pesqueeb bicycle in airplane hangar

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  34. rideit

    rideit Bob the Builder

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    I bet not here...(unless there is a general economic shift).
    The billionaires are happy here...
     
  35. jimmydean

    jimmydean The Official Meat of Ridemonkey

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  36. Westy

    Westy the teste

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    The tax plan basically de-incentivizes buying a home by increasing the standard deduction and further reducing the amount of mortgage and property taxes that can be deducted. In theory this would increase the demand on rentals and reduce the demand on purchased homes. This could actually cause rent to go up.

    But don't worry, landlords will still get to deduct everything as they pay taxes on profit and not income. You may see a trend in who the proposed tax plans benefit.
     
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  37. Pesqueeb

    Pesqueeb bicycle in airplane hangar

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    Puritans?
     
  38. jonKranked

    jonKranked Press Button, Receive Stupid

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