If I buy another home within 2 years I avoid capital gains correct?What about capital gains?
If I buy another home within 2 years I avoid capital gains correct?What about capital gains?
Got a source for this info? And I'm asking about a direct source, not an article on CNN.
I'm only talking about one thing. Reality vs. what the media prints.
And I dunno about you, by my parents paid 20k for their first house. And yes, it was in SoCal!
Inflation has been going on since the beginning of time. Not a whole lot of new under the sun.
I'm trying to wrap my head around our current market and my homes value. We purchased a new home in Eagle, ID 3.5 years ago for $550K. The home value is now $1.1 million. I believe the market is massively overinflated and will see a minimum of a 40% hit within the next 1-2 years. My idea is to cash out now and go rent for a year or two and then pay cash with my equity when the market crashes. We love our home and location and my wife is not particularly fond of my idea. What are your thought?
Black rock owns roughly 80,000 homes as rentals . Seams like a sizeable number . To some that even might be FU money . LolGood friend of mine owns not only a construction company, but a property management company AND an escrow office. Him and his wife know a bit about RE.
I asked him about property being bought by investment companies a few months ago. He told me...
Yeah, I've heard about all that, but haven't seen Any of it.
The media strikes again? Best to not believe Everything that you read.
The market shrugged it off, its been to long in coming and too little anyway. Powell is sticking to the transitory party line signaling no rate increase anytime soon.
I only have 3 hard money loans out on 3 flips, but im still concerned its getting wierd
Party on Garth.
Did you see the part of my post that I'm in Idaho and my home value literally doubled in the last 12 months. I agree with you, I think Idaho is going to get hit hard, as it's the most over inflated market in the country. That's why I'm questioning if I should take the equity while I can, hold onto to the cash for a bit and pay cash for another property after things adjust.Everyone that did that in 2015, 2016, 2017, 2018, 2019, 2020 failed. We are cooling off from summer prices, but that happens in the fall/winter every year.
If there is going to be a drop, the biggest will likely be UT and ID. No way are we going to see a 40% drop, There are too many people with money on the sidelines that will buy into a 20% drop.
Do your own search……. There’s hundred of articles about this. This is common knowledge. Just because you don’t think it’s true doesn’t make it untrue. The facts are the facts. Hedge funds are buying homes……. I question your source of info? USC graduates are not omnipotent……. I know that because that where I graduated from. Lol
CNN and ALL the liberal outlets say that a giant corporation(s) buying up houses is not and will not affect the housing market, and it is not a bad thing. Think about that for a minute Do you believe anything CNN says?. And then think about that people in government (Democrats) are calling for BlackRock to be labeled too big to fail. Think about how a $9T hedge fund can manipulate and influence the stock market. Now imagine how they can influence the housing and rental market if they own even a modest percentage of homes in this country.
Think about the fact that the democrat strategy for future prosperity is for you to rent everything and own nothing.
Warren Grills Yellen Over Why $9 Trillion BlackRock Not Treated as Risk to Economy
The senator suggested the world's largest asset manager should be declared "too big to fail."www.commondreams.org
What’s the Deal with Investment Companies Buying Houses? - myMotherLode.com
There’s been a lot in the news lately about investment companies—namely big ones like BlackRock, going into communities and buying up all the properties. The home market has been explosive over the past year, with mortgage rates at historic lows and the pandemic leading many people to want to...www.mymotherlode.com
All of that is reality. Think about 15-20 years ago when there were just a few chinese nationals buying houses and everyone just shrugged their shoulders. Think about what that has turned into. Think about all the things Chinese companies own here, today. That is a different situation, but it raises the same eyebrows.
As far as your parents buying a $20K house, that is great. That was what maybe 2-3 years of their income? What house can you buy in So Cal today for 2-3 years of income? That is impossible for most young people. What if that level of "inaffordability" spreads across the country?
If I buy another home within 2 years I avoid capital gains correct?
Did you see the part of my post that I'm in Idaho and my home value literally doubled in the last 12 months. I agree with you, I think Idaho is going to get hit hard, as it's the most over inflated market in the country. That's why I'm questioning if I should take the equity while I can, hold onto to the cash for a bit and pay cash for another property after things adjust.
I don't believe Anything I read in the media. And that includes any links you might post (to the media).
And nobody says your first house has to be in a nice neighborhood. Didn't someone just post ol NGE just bought a house for 200k? With some creative financing, pretty much anymore can afford that!
Now you have me courious though about cost vs. income way back in the day. Might have to do some research on that.
Cost vs income is totally screwed in CA and most of the southwest. I'm the first to say not everyone can afford to live in CA, just like not everyone can afford to live in Newport Beach.
Median household income in CA is $78K. Median household income in Kansas is $59K.
If you want to talk median home prices - $177K in Kansas, Median home price in So Cal is $550K
This isn't NGE, doom and gloom, or the media, the above is simple stats, and simple math.
You don't have to believe me or the media, just connect the dots. All these companies were invested in leased commercial RE. They are betting work from home is the new normal. Just like with cars, people want what they cant afford, so they lease the BMW and rent the nice house with an office in the burbs, instead of working from the kitchen table in an apartment in the city. If you buy up enough of the market, you begin to control prices...Just like they do with stocks and funds.
When your kids or grandkids literally can only afford to rent, and will never own a home, don't come on here and shake yore fist about it is all I'm saying.
Based on yesterday's election results, they will shift the printer up into the high cog until the mid-terms. If there was ever a time to make it in the market it's going to be the next 12 months...IMO.I’m more worried about the stock market than the housing market.
Do your own search……. There’s hundred of articles about this. This is common knowledge. Just because you don’t think it’s true doesn’t make it untrue. The facts are the facts. Hedge funds are buying homes……. I question your source of info? USC graduates are not omnipotent……. I know that because that where I graduated from. Lol
If you want someone to buy your statistics, you really need to put your source in. If a person doesn't believe you, why would they go out of their way to change their own opinion? They already have an opinion, and you have failed to prove your point. Without a source, it's merely your opinion. I'm currently working on my master's thesis. I could put a lot of bullshit in it, or a lot of facts, and no sources. When I have to go present it to my advisors and they ask questions, would I just tell them to go do their own research? LOL
I'm not disagreeing with you regarding the hedge funds, it's easy to see that the end goal could be to have everyone be renters except the very wealthy. But if you want to prove your point to someone who is disagreeing with you, you may want to include some kind of reference to convince them it's not merely something you heard chatting with your neighbor, who's brother's girlfriend's cousin is an economist.
Let's not forget that remote workers and anti-socialist leaving warm states will need to adjust to this thing called winter. A hard winter, which many locals predict, could free up some inventory. I am exceedingly pleased I'm running the AC today and enjoying warm Arizona temps, while my family is bundled up and already burning firewood.Everyone that did that in 2015, 2016, 2017, 2018, 2019, 2020 failed. We are cooling off from summer prices, but that happens in the fall/winter every year.
If there is going to be a drop, the biggest will likely be UT and ID. No way are we going to see a 40% drop, There are too many people with money on the sidelines that will buy into a 20% drop.