More real estate doom and gloom
- Thread starter Toshi
- Start date
The Lady of the Lake, her arm clad in the purest shimmering silmite
held aloft a great moustache from the bosom of the water, signifying by divine
providence that JBP, was to wear said moustache. THAT is why he is your
king!
I expect more snark and less conventional Monty Python from you
OK
Government of old white men for old white men by old white men and their respective corporate financial interests.
I would have thought it more like this.I found a photo from the event.
A dictatorship perhaps? A self-perpetuating autocracy, that exploits the workers? Is that what you're saying?
you, Ridemonkey.
Now we need moustache ride porn
Unlikely today. He's freezing his balls off on trails in sub-zero VT.
I’ll give you ample warning when the bust is coming.Maybe I should buy a condo in JH?
Headline what?!
Any house monkeys get burned by the new tax laws? I know a few people who capped out on taxes between state income and real estate, here in CA.
No real change that I noticed here. Not sure if too many monocles, or too few.
My real estate deductions got capped as well, but the other changes + no more AMT made my taxes about the same if not a hair smaller, IIRC.
We paid slightly more this year. But nothing anger inducing.
My real estate deductions got capped as well, but the other changes + no more AMT made my taxes about the same if not a hair smaller, IIRC.
My SALT got capped but only because I bought a car. Wa has no income tax but high sales tax. Would have been right at the cap otherwise.
My real estate deductions got capped as well, but the other changes + no more AMT made my taxes about the same if not a hair smaller, IIRC.
Now I can buy those houses in shitty parts of Phoenix and Florida like I always wanted to!
This is a shady as fuck investment strategy.
Process:
1. Buyer puts down 20% on house > Loan issuer still owns the house, don't forget that
2. Buyer pays mtge for a few years > Income stream to loan issuer
3. Buyer goes into default, forcing short sale or foreclosure - losing all earned principal > Loan issuer now takes back the property to sell into the market.
4. Loan issuer is instantly up for multiple reasons:
-1. If property values are up, sell house for gain.
-2. They have been making money on interest payments the whole time
- 3. If values are down, rent the property that was "purchased" at a 20% + any paid principal discount rate.
Capped but only barely with prepaying property taxes. Total rate was effectively lower though.
My "go Trump!" Dad got thoroughly fucked something like $15k even after the lower Fed rate. He blamed the Democrats even though they all voted against the bill; said it was state tax fault that he was paying more. It's like Stockholm Syndrome...
A friend told me that he and his wife made less but owed about significantly more because of various deduction and exemption changes. A fairly “middle class” married family with multiple kids.
In CA I assume?
Being in CO with 4% state income we didn't get that hit. 2019 is going to suck because we will have property taxes and the higher income. I have a feeling Toshi got it way worse than we did.
Indeed. He said it was primarily the exemption change that did him in.
That means i could get a house next to the Airport in Tucson.
Before or after the bail-out?
Yes?
Too big to fail... in the world of “only the strong survive” capitalism.
This was us. We made about $8k less last year. We got $2200 back last year, we paid $3200 this year. Owning a home isn't as good a deal as it used to be.
I've always contended that home ownership shouldn't be actively encouraged by the gummint. Neither should having kids.
You need to tell us your *TOTAL* tax bill from last year compared to this year for any of your numbers to be useful at all. Even more useful is your effective tax rate. Ours went from 16% last year to 11% this year - we made $30K less this year than last.
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I will have to look at the tax rate. Part of it was a few months of funemployment, part of it was a serious lack of deductions. The wife did the taxes, I just paid the bill.
Yeah... there's been a TON of bitching from folks that "had to pay when I normally got a refund" due to their failure to adjust their withholding when the law went through. It's irritating, because often times these same people actually paid LESS than they did last year... it's just that math is hard.
I claimed 0 last year as well as the year before. I guess I could opt to just pay up front this year? Not sure how much adjusting I can do.Yeah... there's been a TON of bitching from folks that "had to pay when I normally got a refund" due to their failure to adjust their withholding when the law went through. It's irritating, because often times these same people actually paid LESS than they did last year... it's just that math is hard.