Afraid to buy home but won’t sell stocks whatever happens


#21

what areas are you interested in?


#22

MV, Sunnyvale, SC and SJ. :slightly_smiling_face:


#23

sound of a person living in MV (or have someone working at google in family). Did i guess right?


#24

No. :slightly_smiling_face:

I live in west san jose (bought primary home in 2014) and look for investment property.


#25

darn. oh well :slight_smile:


#26

Your argument was people in CA and NY will be screwed by higher taxes. Most of them won’t. Higher tax bills in CA and NY won’t sink the economy.

Nationally, over 40% of households are already paying 0% income tax. It’s not really possible to cut their taxes more. High income earners will get most of the cuts, and they mostly live in expensive cities.


#27

on another front: will california ever repeal proposition 13? or make it so on new sales?


#28

I heard they are putting something on the ballot to revise how prop 13 is handled for commercial property. I don’t know exactly what is being done tho.


https://ballotpedia.org/California_Proposition_13_Tax_Transfer_Initiative_(2018)

http://www.latimes.com/politics/essential/la-pol-ca-essential-politics-updates-a-major-change-to-proposition-13-takes-1513368938-htmlstory.html


#29

So your friend is going to be stock rich but house poor. That’s fine. You can’t have the best of both worlds. Although I do have that… :wink:


#30

IT would probably take some time for housing to see the impact, but presumably, more houses will be available from old people (future old, i mean - i don’t think the law would affect existing owners).


#31

You mean me? :roll_eyes:


#32

Maybe you were the one. I just remember most people were surprised about it being lower except one person would pay more. Get married and have some kids :slight_smile: It’ll instantly lower your tax bill.


#33

worst advice ever.


#34

In these areas, I have seen offers coming beyond what seller’s are expecting ! One of my bids, Seller has floated a counter offer to four parties asking 75k higher than highest bid, one declined counter, two accepted counter, but the last one gave 25k more than counter offer, got the home. The last party wants to defeat all other three parties, that is all.


#35

May I know which house that is? :slight_smile:


#36

95% of technology stocks issued or ipoed here are no longer traded on stock market.

I do agree the valuation of stocks and local homes are artificially inflated. What may be impacted later this year will be these companies doing large business with China. When Empire strikes back their stocks will bleed. QCOM, MU, AVGO, SWKS all have way more market share over Asia than at home.


#37

Definitely, not the place you are bidding ! Once closed, I will definitely publish.


#38

Were you one of the 4 parties though? Even the eventual winner?


#39

Yes,one of the 4, but looser who accepted counter offer as no one expected a beating counter will come.


#40

Again, if you had worked with the listing agent, he would’ve told you that there was a beating counter 25k above, in which case you would be in a position to offer 26k above and get the house.