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False. 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. Hous
by simple-thoughts 4y ago
False. 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.