That guy was probably me. I have to report to CA (each year) that we still own the houses which we purchased using the proceeds from the sale in CA. That state wants it's taxes, and unless I sell the property acquired in CO (and don't re-invest for property of equal or greater value), we would indeed get jammed hard on capital gains tax. I sold a property here two years ago (non-1031, rental property) and paid $45K in capital gains taxes, and another $10K for "investment tax". Still cleared $200K, but damn that tax hit hurt.
As home prices hover near historical highs and mortgage rates keep soaring, housing affordability in the U.S. is about to reach its lowest point since the 2007 Great Financial Crisis, according to a report by S&P Global Ratings released on July 20.
As home prices hover near historical highs and mortgage rates keep soaring, housing affordability in the U.S. is about to reach its lowest point since the 2007 Great Financial Crisis, according to a report by S&P Global Ratings released on July 20.
It's the combination of record home prices and rising rates that is putting the whammy on buyers.Not sure rates are soaring unless you are talking strictly about their % increase.They’ve almost doubled, but they were at historic lows to begin with. Anyone who bought a house pre-2008 will recognize a 6%+ mortgage rate. I think the market needs to find its “happy place” (price + interest rate = affordability). A 6% rate isn’t bad except for the fact that prices are ridiculous.
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If people are getting their vehicles repo'd left and right,....what's going to happen to the housing market?? It's happening already.
Rhetorical question, I already know.
Oh yeahhhhhh,....they been on the rise. LOLIs there data suggesting that Repos are happening and mortgages are defaulting?
Legit question. I haven’t seen anything to suggest either at this time.
Oh yeahhhhhh,....they been on the rise. LOL
I'm talking about repos. I haven't researched on mortgages yet.
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Plus, paying 10K to 20K over asking price for a vehicle. (I'm all for Capitalism, but I am not paying over what the manufacturer of said vehicle is asking for. lol "Maybe" within reason I may.)This is what these retards get for buying boats and vehicles instead of paying rent and mortgages with Corona-Lisa money.
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It isn't capitalism when you are competing for goods with money that the government takes from you and gives to people who didn't earn it.Plus, paying 10K to 20K over asking price for a vehicle. (I'm all for Capitalism, but I am not paying over what the manufacturer of said vehicle is asking for. lol "Maybe" within reason I may.)
If they have the cake for it, they have it, but if they don't have the cake for it and had to have the vehicle,.......bye byes!!!
Apparently this is happening with other debts too. Ben Shapiro detailed it on his podcast a month or so ago.If people are getting their vehicles repo'd left and right,....what's going to happen to the housing market?? It's happening already.
Rhetorical question, I already know.
Are you talking about the "free" monies that the gubberment gave out during the ChYna Virus? I'm assuming so.It isn't capitalism when you are competing for goods with money that the government takes from you and gives to people who didn't earn it.
Wow. I haven't watched his channel, but I heard credit card debts are not being paid either.Apparently this is happening with other debts too. Ben Shapiro detailed it on his podcast a month or so ago.
Don't forget the free money for every child.Are you talking about the "free" monies that the gubberment gave out during the ChYna Virus? I'm assuming so.
$600 on top of unemployment benefits = HUGE money weekly or biweekly.
Wow. I haven't watched his channel, but I heard credit card debts are not being paid either.