4 ms·
So — housing?
by yawnr 4y ago
So — housing?
- agency 4y ago- Any profit comes from the efforts of a promoter or third party
- ghouse 4y agoIf a Real Estate Investment Truest (REIT), then yes.
- rafram 4y agoHousing isn’t an investment in a common enterprise.
- simple-thoughts 4y agoFalse. If your local governing agency (whether private or public) fails to maintain the local parks, schools, and roads, the value of your house will fall. Houses are securities according to the Howey test.
- Godel_unicode 4y agoNo they aren’t. “The respondent companies are offering something more than fee simple interests in land…they are offering an opportunity to contribute money and to share in the profits of a large citrus fruit enterprise.” https://recaldelaw.com/do-security-regulations-cover-real-estate-investments/ https://recaldelaw.com/do-security-regulations-cover-real-es...
- simple-thoughts 4y agoYes, the courts don’t support the SEC interpretation of the Howey test, and the SEC has repeatedly lost in court. Your point is?
- Godel_unicode 4y agoMy point was 3 words. Which one do you not understand?
- simple-thoughts 4y agoSomething can both pass the Howey test and be considered a security by the SEC, but simultaneously fail to be a security in court.
- Godel_unicode 4y agoBy not passing the Howey test. Which they don’t, according to the only people whose opinion matters. The SEC doesn’t get a vote.
- simple-thoughts 4y agoYes, so the SEC guidance is irrelevant, and is just fear mongering to get people to pay fines they don’t actually need to pay.
- Godel_unicode 4y agoThat is correct.
- p0pcult 4y agoMy HOA would argue otherwise. It exists specifically to prevent housing prices from falling due to certain local factors.
- bfung 4y ago> There is an expectation of profits from the investment Not everyone cares to 1) sell their house 2) at a profit. Some people just want to live in it and even die in it.
- EVa5I7bHFq9mnYK 4y agoNot everyone cares to 1) sell their Bitcoin 2) at a profit. Some people just want to live long enough until there are no other forms of money left.
- yawnr 4y agoBut their kids probably will. Is a generational investment not a security? I’m not even trying to be cute. Everyone is competing with corporations for single family housing for a reason now.