More rent control BS

you realize that such conversions can be blocked if the vacancy rate is below a specified number… IIRC 5%??

I don’t recall if this is state code or local code, possibly part of a city’s rent control package.

If that’s the case, could that be a reason for dropping housing prices? Cap rates are already too squeezed, it’ll be even more if it passes?

Wow, I didn’t realize they can be blocked. That’s stupid. Property rights are becoming less and less meaningful.

2 Likes

Don’t get your hopes up. Nobody buys a SFR in MP or CUP for its (today’s) cap rate.

1 Like

Haha, it doesnr make it any more affordable though.

Has been like that for a long time, IIRC. I learnt about it in studying for my RE license in 2010.

I think TIC cannot be blocked by the city.

1 Like

Property tax based on asset value is already meant the property is not yours.
Should be based on market rent i.e. income generating ability of the house.
Frankly, not sure why we need to pay property tax, can’t we just pay ransom and protection money directly to firefighting, police, public utility, schools, … department.

That is exactly what property tax does. And by having it not salt deductible (for primary) it is as if you are double taxed!

My goal is still to make a billion dollars and then emigrate to Singapore. Just that the first part is proving very damn hard! :rage:

No doubt you are fond of FB and Mark Z ! Why Singapore, but not Cayman island?

Singapore has no capital gains tax. So depending on the size of his actual stake in Facebook, Saverin stands to realize substantial tax savings on any stock sales. According to Singapore- based “Wealth-X” which gathers information on “ultra high net worth individuals,” Saverin’s estimated tax savings are “at least $39 million as a result of renouncing U.S. citizenship.”

https://www.cnn.com/2012/05/16/business/singapore-saverin-facebook/index.html

People need to wake up and fight for property rights.

1 Like

39m sounds low for his nw

There are no income taxes and capital gains taxes in the Cayman Islands.

But, you will see neighbors like Mitt :rofl:

That’s more like lunch money for the dude.

Why Singapore? :thinking:

1 Like

At the point of renouncing :slight_smile: Now is billionaire. Save billions in capital gain tax :slight_smile:

You guys need to wake up and realize that more renters mean more votes for rent control. The way to get more owners is to make housing more affordable. You jump for joy when property values rise but that only means more votes for rent control. You have to make housing more affordable to blunt calls for rent control.

So what’s the solution? I don’t know for sure, but part of it could be removing restrictions for builders. Another idea, although I don’t like it now because I will be paying them for the next 11 years, is forming Mello-Roos districts and putting the fees into them.

1 Like

I think most people here are pro building more housing. That’s the only way to balance supply and demand short of kicking people out of the area.

Just not in my backyard.

2 Likes