Quantcast

More real estate doom and gloom

  • Come enter the Ridemonkey Secret Santa!

    We're kicking off the 2024 Secret Santa! Exchange gifts with other monkeys - from beer and snacks, to bike gear, to custom machined holiday decorations and tools by our more talented members, there's something for everyone.

    Click here for details and to learn how to participate.

Westy

Westy

the teste
Nov 22, 2002
55,996
22,031
Sleazattle
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.
 
StiHacka

StiHacka

Compensating for something
Jan 4, 2013
21,560
12,508
In hell. Welcome!
Westy said:
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.
Click to expand...
Cryptocurrencies are dropping, too. :tinfoil:
 
stoney

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
22,002
7,886
Colorado
Mo(n)arch said:
Yeah, because China has forbidden cryptocurrency in general.
Click to expand...
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.
 
Mo(n)arch

Mo(n)arch

Turbo Monkey
Dec 27, 2010
4,462
1,461
Italy/south Tyrol
stoney said:
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.
Click to expand...
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.
 
stoney

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
22,002
7,886
Colorado
Mo(n)arch said:
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.
Click to expand...
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.
 
StiHacka

StiHacka

Compensating for something
Jan 4, 2013
21,560
12,508
In hell. Welcome!
Mo(n)arch said:
Adoption by companies like AXA, Mastercard, BP, Microsoft and a lot of other big players seems to indicate a bright future for the technology.
Click to expand...
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.
 
StiHacka

StiHacka

Compensating for something
Jan 4, 2013
21,560
12,508
In hell. Welcome!
Pesqueeb said:
I'm not going to pretend like I understand this whole cryptocurrency thing, but isn't this one of the main draws?
Click to expand...
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:
 
kidwoo

kidwoo

Artisanal Tweet Curator
Aug 25, 2003
42,149
13,358
Squirtin ketchup n' mustard on charred flesh
Last edited:
Westy

Westy

the teste
Nov 22, 2002
55,996
22,031
Sleazattle
kidwoo said:
Wow that is some fucked up selective presentation of Margaret thatcher going on there.


That's like 30 years from now, people saying 'yeah trump wanted to make America great again and help the little guy' with shit like this being the reality on the ground.

https://www.cnbc.com/2017/01/27/after-trumps-first-week-homebuyers-will-pay-more.html
Click to expand...

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.
 
Pesqueeb

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
41,819
19,134
Riding the baggage carousel.
Pump and dump?

A new list, released by realtor.com, ranks the 80922 zip code seventh out of 32,000.
Click to expand...
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.
 
Last edited:
jimmydean

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
43,075
15,163
Portland, OR
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.
 
jimmydean

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
43,075
15,163
Portland, OR
Even Manafort can't catch a break

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

Manafort bought the Trump Tower unit for more than $3.6 million back in 2006 through a limited-liability company called John Hannah, which according to NBC News combined his middle name with the middle name of his former business partner and current co-defendant Rick Davis. The deed was transferred to Paul Manafort and his wife in 2015, and the couple took out a $3 million mortgage on the property. If the condo is now worth only $2.5 million, it may mean Manafort is underwater, meaning he owes more on the property than it’s worth.
Click to expand...
 
jimmydean

jimmydean

The Official Meat of Ridemonkey
Sep 10, 2001
43,075
15,163
Portland, OR
Westy

Westy

the teste
Nov 22, 2002
55,996
22,031
Sleazattle
jimmydean said:
I think it has more to do with the impending bubble and the tax cuts are coincidental. But I certainly don't "know real estate".

The fact that there are $3800 800sqft apartments in Portland is not a good sign for the market as a whole.
Click to expand...
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.
 
jonKranked

jonKranked

Detective Dookie
Nov 10, 2005
88,802
27,011
media blackout
Westy said:
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.
Click to expand...
 
You must log in or register to reply here.
Top Bottom