5 ms·
Why?
by axiosgunnar 5y ago
Why?
- aynyc 5y agoTax saving for buyers with crypto holding, therefore, increase demand. And probably hefty fees involve.
- FabHK 5y agoIt would not trigger a taxable event? Oh, that would have real world benefits then. ETA: according to comments further down, selling your crypto is taxable, whether you get dollar for it or a house. Which makes sense, of course.
- arthurcolle 5y agoPeople with substantial amounts of crypto would like to be able to finance larger purchases directly in crypto without needing to liquidate into fiat first
- my_usernam3 5y agoProbably a stupid question and I'm guessing the answer is yes, but you would you still need to pay capitol gains on the increase in value from when you purchased it?
- kinghajj 5y agoYes, both the purchaser and seller would need to pay capital gains taxes on the realized appreciation in the digital asset and real property, respectively.
- sneak 5y agoEven cryptocurrency x into cryptocurrency y exchanges are capital gains events, so cryptocurrency into real estate is absolutely one such.
- pavlov 5y agoEither capital gains tax or income tax, depending on how long ago you purchased.
- ohazi 5y agoYes, money launderers and tax evaders would like to continue laundering and evading -- I think the real question is why are we making this easy for them? Buying property with ill-gotten gains is an extremely common method of money laundering. Having a large hoard of cryptocurrency that you prefer not to liquidate screams "I'm trying to pretend that this isn't a taxable event." We don't let people pay their mortgages with pre-tax stock gains, why the fuck are we bending over backwards to let people pay their mortgage with cryptocurrency?
- seany 5y agoSure you can. With enough networth in an account you can do margin LOC in the 1.9-2.5% range. The whole train of thought is weird though. There are plenty of people who pay all of their taxes on everything, but still deal in largely cash.
- hellbannedguy 5y agoThe ease at which we let foreigners buy our American Real-estate has been bothering me for years. I can't prove it, but it seems like too much foreign capital that is buying our land is ill gotten, and allowing crypto is just going to make it worse. I believe we are the Only country that allows foreigners buy property with a phone call, or email.
- nwatson 5y agoIt's cyclical, Japanese folks were buying lots of U.S. real estate (and other assets) in the 1980s, then it fizzled out. [0] [0] https://www.latimes.com/archives/la-xpm-1992-02-21-mn-2588-story.html https://www.latimes.com/archives/la-xpm-1992-02-21-mn-2588-s...
- knownjorbist 5y agoIt needs to go in the other direction - it should be easy for anyone to buy property anywhere.
- FabHK 5y ago
- purple_ferret 5y agowhat does that have to do with paying your monthly on a 30 year mortgage?
- game_the0ry 5y agoBetter question - why not?
- gentleman11 5y agoThe climate emergency?
- deleted 5y ago[deleted]
- rileyphone 5y agoIronically I think the best application of Bitcoin right now is ransomware, bringing the tragedy of its existence close to the US military's.
- deleted 5y ago[deleted]
- tablespoon 5y ago> Better question - why not? Because crypto payments are niche and likely come with more hassle (e.g. volatile value, lender needs dollars and has to take on any risk with liquidating bitcoin/other cryptocurrencies). You might as well ask why US mortgage lenders don't accept payments in RMB or Euros.
- adamc 5y agoAlso, the potential for attracting Congressional attention.
- wc- 5y agoWhy do you care if this company wants to take on the hassle of converting the bitcoin to $ for the customer? It's an additional source of revenue for them.
- squeaky-clean 5y ago
- bsder 5y agoSo they can let corrupt Chinese middle party bosses buy US real estate directly. Then, in the remote chance the business gets convicted later up the road, it will give up 1% of it's quarterly operating profit as a fine. I mean, duh, that's how US finance operates. </s>
- Ekaros 5y agoCrypto enthusiast are under served market. There is likely enough of them who are willing to pay margin just for sake of using crypto. That is compared to trading for fiat and then using that to pay...
- FabHK 5y agoYes, one reason being that the crypto exchanges charge so unreasonably much, a bit like the good old foreign exchange offices in airports.
- csharpminor 5y agoI recently put a down payment on a house using a windfall from crypto. It was not easy: mortgage brokers need to do AML due diligence on all cash sources looking back at least six months. I used a major crypto exchange to sell and convert my holdings into USD, but frustratingly they did not provide adequate documentation to show how the funds were contributed and transferred. I needed to email the exchange's support team, escalate multiple times, and finally they sent me a series of screenshots. The delay almost caused my offer to fall through. This would have been much easier if I could have transferred crypto directly to the mortgage company.
- jtaft 5y agoCongrats :)