rcpt

46 ms·

781.
by rcpt 4y ago
We're talking about these people right? > I have some NYC-native friends whose parents make less than $20k a year on paper but own homes and generally live comfortably.
782.
by rcpt 4y ago
It doesn't sound like these people are at the bottom
783.
by rcpt 4y ago
Land Value Tax would fix it. But Henry George lost his NYC mayoral bid all those years ago.
784.
by rcpt 4y ago
100% agree. But if we take zoning seriously when it comes to new apartments then we should take it seriously when it comes to Airbnb.
785.
by rcpt 4y ago
I generally agree with you. But unless you're allowed to knock down your house and build a 10 story apartment in it's place then the argument kind of falls flat.
786.
by rcpt 4y ago
The house next door to you was de facto rezoned from residential to hotel. In the US, and California specifically, any kind of zoning change is met with pitchforks. If your neighbor tried to build an apartment and you didn't like it yo
787.
by rcpt 4y ago
Well, they're ruined because of zoning (and tax law but that's a whole other story) In theory zoning is supposed be in residents interest to stop things like fracking from happening next to playgrounds (it doesn't but again t
788.
by rcpt 4y ago
At least you got the money back. I had an experience where, after arriving in town, the host denied me entry because they thought my negative COVID test result was faked. That was bad. But what was completely insane was that Airbnb refused
789.
by rcpt 4y ago
Yea. The way I understand it is that Amex will most likely eat the cost in that situation. I want be sure that Airbnb loses money.
790.
by rcpt 4y ago
That statista link is maybe the wrong one? I don't see anything in there stating that the majority of Americans live in apartments. > You realize any increase in cost is passed on to the tenants. How does that help affordable housin
791.
by rcpt 4y ago
Mob rule doesn't make for good laws. Especially in California, example: https://en.m.wikipedia.org/wiki/1964_California_Proposition_... Prop 13 is arguably illegal under federal law. Of course with the current cou
792.
by rcpt 4y ago
> That is not true in most of the US Huh? Save for a small number of cities most of the nation is sprawling suburbia. 70% of Americans live in single family homes. Most of what you pay for here is the land. And this is becoming ever mor
793.
by rcpt 4y ago
65% of California voted to overturn the 1963 Rumford Fair Housing Act, thereby allowing property sellers, landlords and their agents to openly discriminate on ethnic grounds when selling or letting accommodations. https://en.wiki
794.
by rcpt 4y ago
Worth noting is that this whole scam is arguably illegal under the Fair Housing Act. Prop 13 rewards long time landowning families. Who's that? White people. Even if the law wasn't explicitly racist originally it's impact has
795.
by rcpt 4y ago
Right. And consumers get none of this benefit. When was the last time you scored cheap gas because of station's property tax?
796.
by rcpt 4y ago
The supply of land is fixed. If we're talking about the US then most of what you pay for when you buy is the land. The current setup hasn't exactly been great at generating new housing. Juicing speculation increases nimbyism just
797.
by rcpt 4y ago
I agree that leveraging 5x your net worth into a single asset in a single location who's value is wholly outside of your control has been working out well for many Americans. But I'm not sure I'd envy people who bought in 80s
798.
by rcpt 4y ago
Or, and more likely imo, you'll be less willing to bid as much when you buy an investment property. Maybe we can agree that the price-to-rent ratio will decrease?
799.
by rcpt 4y ago
Great let's simplify the tax code and clear it out completely. It's never been good policy.
800.
by rcpt 4y ago
I mean, the government kind of mandates property investment over there.
801.
by rcpt 4y ago
This wouldn't magically create rich tenants in your city. If you can really do it then why don't you simply increase rent right now?
802.
by rcpt 4y ago
I'm in the middle of arbitration with Airbnb now because they wouldn't refund me when a host denied me entry after I arrived because the host thought my negative covid test was faked (?!). What a shit company.
803.
by rcpt 4y ago
You're confusing Allodial Title with Fee Simple land ownership. It turns out that Allodial Title is a terrible system and has largely been abandoned since the middle ages.
804.
by rcpt 4y ago
The same way we've been doing property assessments for decades. Just easier because there's no structure to assess
805.
by rcpt 4y ago
Lies. Since 1977 (before Prop 13) we've had the California Tax Postponement Program. Low income seniors, the disabled and the blind can defer taxes indefinitely. They have zero pressure from the state to move.
806.
by rcpt 4y ago
Serrano v Priest This is the paper https://www.journals.uchicago.edu/doi/abs/10.1086/NTJ4178881...
807.
by rcpt 4y ago
The "problem of faction" is theoretically solved via representative democracy. That was the idea in the Federalist Papers. It's not perfect but absolutely works better than direct democracy which has led to things like Prop 1
808.
by rcpt 4y ago
Ah capital gains exemptions. I knew I was forgetting something!
809.
by rcpt 4y ago
Whichever nation you live in likely has similar crap. In China for example there's no property taxes and you can't send your kids to public schools unless you own property.
810.
by rcpt 4y ago
Higher profit risk means you won't bid as high for investment property. Sounds good to me. If you could increase the rent and still find tenants you'd do it right now. No reason to wait for any legislation

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