(03-05-2024 10:32 AM)RiceLad15 Wrote:  

(03-05-2024 10:25 AM)OptimisticOwl Wrote:  

(03-05-2024 10:08 AM)Frizzy Owl Wrote:  

(03-05-2024 09:56 AM)OptimisticOwl Wrote:  I don't see anything about remote work. However, it is hard to remotely work most jobs in tourist areas. Hard to remotely work a ski lift or tend bar.

The article mentions people living in tourist areas and working remotely elsewhere. This also includes people who want to spend several weeks or months of the year away from whatever city they live and work in and they buy a place in a tourist location to use as a getaway. This is actually worse for local housing than a wealthy person buying an expensive home as a permanent residence, because a wealthy person's vacation getaway is probably a more modest dwelling - and then working-class housing becomes vacation homes.

Aah, Thank you.

I once stayed in a three story house for a week in Crested Butte. The owner lived in Chicago.

So what is the difference between 2024 and 1983, when I went to Crested Butte. Was it impossible then for people to people to make ends meet, as it is now? Was housing so expensive that people could not afford to take well paying jobs, as now? I wasn't hearing of this difficulty in 1983.

If not, what is the difference?

TIA

I'll respond if you're being genuine by asking what is the difference between 1983 and 2024 when it comes to the ability to work remotely and rent short-term properties.

The house in 1983 was a vacation home rented out when not used by the owner. The difference is...?

In any case, how is this a defense of Bidenflation? Or Biden? Or inflation?

(03-05-2024 10:39 AM)OptimisticOwl Wrote:  

(03-05-2024 10:32 AM)RiceLad15 Wrote:  

(03-05-2024 10:25 AM)OptimisticOwl Wrote:  

(03-05-2024 10:08 AM)Frizzy Owl Wrote:  

(03-05-2024 09:56 AM)OptimisticOwl Wrote:  I don't see anything about remote work. However, it is hard to remotely work most jobs in tourist areas. Hard to remotely work a ski lift or tend bar.

The article mentions people living in tourist areas and working remotely elsewhere. This also includes people who want to spend several weeks or months of the year away from whatever city they live and work in and they buy a place in a tourist location to use as a getaway. This is actually worse for local housing than a wealthy person buying an expensive home as a permanent residence, because a wealthy person's vacation getaway is probably a more modest dwelling - and then working-class housing becomes vacation homes.

Aah, Thank you.

I once stayed in a three story house for a week in Crested Butte. The owner lived in Chicago.

So what is the difference between 2024 and 1983, when I went to Crested Butte. Was it impossible then for people to people to make ends meet, as it is now? Was housing so expensive that people could not afford to take well paying jobs, as now? I wasn't hearing of this difficulty in 1983.

If not, what is the difference?

TIA

I'll respond if you're being genuine by asking what is the difference between 1983 and 2024 when it comes to the ability to work remotely and rent short-term properties.

The house in 1983 was a vacation home rented out when not used by the owner. The difference is...?

In any case, how is this a defense of Bidenflation? Or Biden? Or inflation?

OO, you’ve heard of the internet right?

And I have no idea how I am defending “Bidenflation.” I’m pointing out that this issue’s root causes are not inflation, but rather other changes in the economy and society that precede the current administration by a significant margin.

(03-05-2024 12:33 PM)RiceLad15 Wrote:  

(03-05-2024 10:39 AM)OptimisticOwl Wrote:  

(03-05-2024 10:32 AM)RiceLad15 Wrote:  

(03-05-2024 10:25 AM)OptimisticOwl Wrote:  

(03-05-2024 10:08 AM)Frizzy Owl Wrote:  The article mentions people living in tourist areas and working remotely elsewhere. This also includes people who want to spend several weeks or months of the year away from whatever city they live and work in and they buy a place in a tourist location to use as a getaway. This is actually worse for local housing than a wealthy person buying an expensive home as a permanent residence, because a wealthy person's vacation getaway is probably a more modest dwelling - and then working-class housing becomes vacation homes.

Aah, Thank you.

I once stayed in a three story house for a week in Crested Butte. The owner lived in Chicago.

So what is the difference between 2024 and 1983, when I went to Crested Butte. Was it impossible then for people to people to make ends meet, as it is now? Was housing so expensive that people could not afford to take well paying jobs, as now? I wasn't hearing of this difficulty in 1983.

If not, what is the difference?

TIA

I'll respond if you're being genuine by asking what is the difference between 1983 and 2024 when it comes to the ability to work remotely and rent short-term properties.

The house in 1983 was a vacation home rented out when not used by the owner. The difference is...?

In any case, how is this a defense of Bidenflation? Or Biden? Or inflation?

OO, you’ve heard of the internet right?

And I have no idea how I am defending “Bidenflation.” I’m pointing out that this issue’s root causes are not inflation, but rather other changes in the economy and society that precede the current administration by a significant margin.

Im interested in what you think the added tax benefits are to owning rental property.

(03-05-2024 01:35 PM)tanqtonic Wrote:  

(03-05-2024 12:33 PM)RiceLad15 Wrote:  

(03-05-2024 10:39 AM)OptimisticOwl Wrote:  

(03-05-2024 10:32 AM)RiceLad15 Wrote:  

(03-05-2024 10:25 AM)OptimisticOwl Wrote:  Aah, Thank you.

I once stayed in a three story house for a week in Crested Butte. The owner lived in Chicago.

So what is the difference between 2024 and 1983, when I went to Crested Butte. Was it impossible then for people to people to make ends meet, as it is now? Was housing so expensive that people could not afford to take well paying jobs, as now? I wasn't hearing of this difficulty in 1983.

If not, what is the difference?

TIA

I'll respond if you're being genuine by asking what is the difference between 1983 and 2024 when it comes to the ability to work remotely and rent short-term properties.

The house in 1983 was a vacation home rented out when not used by the owner. The difference is...?

In any case, how is this a defense of Bidenflation? Or Biden? Or inflation?

OO, you’ve heard of the internet right?

And I have no idea how I am defending “Bidenflation.” I’m pointing out that this issue’s root causes are not inflation, but rather other changes in the economy and society that precede the current administration by a significant margin.

Im interested in what you think the added tax benefits are to owning rental property.

I don't know if I would call them tax benefits per say, but rather two parts of the tax code (to me) encourage owning multiple properties (not inherently rental ones, mind you).

First, once you sell a piece of property, you can avoid being taxed on any gains if you role the money into another piece of property. This encourages folks who have multiple homes to continue to roll their $$ into residential real estate, even searching it out when they sell a property, as opposed to putting gains elsewhere in the economy.

The second is that you can deduct mortgage interest on up to two homes.

I could be persuaded otherwise, but I think these kinds of benefits make sense for a primary residence, and that's it.

(03-05-2024 12:33 PM)RiceLad15 Wrote:  

(03-05-2024 10:39 AM)OptimisticOwl Wrote:  

(03-05-2024 10:32 AM)RiceLad15 Wrote:  

(03-05-2024 10:25 AM)OptimisticOwl Wrote:  

(03-05-2024 10:08 AM)Frizzy Owl Wrote:  The article mentions people living in tourist areas and working remotely elsewhere. This also includes people who want to spend several weeks or months of the year away from whatever city they live and work in and they buy a place in a tourist location to use as a getaway. This is actually worse for local housing than a wealthy person buying an expensive home as a permanent residence, because a wealthy person's vacation getaway is probably a more modest dwelling - and then working-class housing becomes vacation homes.

Aah, Thank you.

I once stayed in a three story house for a week in Crested Butte. The owner lived in Chicago.

So what is the difference between 2024 and 1983, when I went to Crested Butte. Was it impossible then for people to people to make ends meet, as it is now? Was housing so expensive that people could not afford to take well paying jobs, as now? I wasn't hearing of this difficulty in 1983.

If not, what is the difference?

TIA

I'll respond if you're being genuine by asking what is the difference between 1983 and 2024 when it comes to the ability to work remotely and rent short-term properties.

The house in 1983 was a vacation home rented out when not used by the owner. The difference is...?

In any case, how is this a defense of Bidenflation? Or Biden? Or inflation?

OO, you’ve heard of the internet right?

And I have no idea how I am defending “Bidenflation.” I’m pointing out that this issue’s root causes are not inflation, but rather other changes in the economy and society that precede the current administration by a significant margin.

And I just pointed out that the 1983 situation was the same - way before the "other changes".

Rather than try to find one linear cause, just understand that the inflation of the past three years is a complicating factor, same as the way diabetes or congestive heart failure can complicate pneumonia or covid. And the inflation of the past three years is traceable to Biden policies.

(03-05-2024 03:37 PM)OptimisticOwl Wrote:  

(03-05-2024 12:33 PM)RiceLad15 Wrote:  

(03-05-2024 10:39 AM)OptimisticOwl Wrote:  

(03-05-2024 10:32 AM)RiceLad15 Wrote:  

(03-05-2024 10:25 AM)OptimisticOwl Wrote:  Aah, Thank you.

I once stayed in a three story house for a week in Crested Butte. The owner lived in Chicago.

So what is the difference between 2024 and 1983, when I went to Crested Butte. Was it impossible then for people to people to make ends meet, as it is now? Was housing so expensive that people could not afford to take well paying jobs, as now? I wasn't hearing of this difficulty in 1983.

If not, what is the difference?

TIA

I'll respond if you're being genuine by asking what is the difference between 1983 and 2024 when it comes to the ability to work remotely and rent short-term properties.

The house in 1983 was a vacation home rented out when not used by the owner. The difference is...?

In any case, how is this a defense of Bidenflation? Or Biden? Or inflation?

OO, you’ve heard of the internet right?

And I have no idea how I am defending “Bidenflation.” I’m pointing out that this issue’s root causes are not inflation, but rather other changes in the economy and society that precede the current administration by a significant margin.

And I just pointed out that the 1983 situation was the same - way before the "other changes".

Rather than try to find one linear cause, just understand that the inflation of the past three years is a complicating factor, same as the way diabetes or congestive heart failure can complicate pneumonia or covid. And the inflation of the past three years is traceable to Biden policies.

The 1983 situation wasn't the same. You are wrong about that, for the reasons stated.

There are a myriad of differences between 1983 and 2023 when it comes to homes. Homes today have vastly more in them for starters... more features and amenities etc... like cars.

but the biggest issue is that AirBnB has brought institutional players (as well as individuals with massive home portfolios) into the mix. We have Blackrock and others buying/building entire neighborhoods and 'renting' them out.... but we also have tiny homes/container homes/prefabs etc.

Housing is just one issue.... even if it is a large issue. AirBnB did not start/take off when Biden took office.... nor was it a supposed 'one time' pandemic thing that has become a multi-year spending spree.

(03-05-2024 01:48 PM)RiceLad15 Wrote:  

(03-05-2024 01:35 PM)tanqtonic Wrote:  

(03-05-2024 12:33 PM)RiceLad15 Wrote:  

(03-05-2024 10:39 AM)OptimisticOwl Wrote:  

(03-05-2024 10:32 AM)RiceLad15 Wrote:  I'll respond if you're being genuine by asking what is the difference between 1983 and 2024 when it comes to the ability to work remotely and rent short-term properties.

The house in 1983 was a vacation home rented out when not used by the owner. The difference is...?

In any case, how is this a defense of Bidenflation? Or Biden? Or inflation?

OO, you’ve heard of the internet right?

And I have no idea how I am defending “Bidenflation.” I’m pointing out that this issue’s root causes are not inflation, but rather other changes in the economy and society that precede the current administration by a significant margin.

Im interested in what you think the added tax benefits are to owning rental property.

I don't know if I would call them tax benefits per say, but rather two parts of the tax code (to me) encourage owning multiple properties (not inherently rental ones, mind you).

First, once you sell a piece of property, you can avoid being taxed on any gains if you role the money into another piece of property. This encourages folks who have multiple homes to continue to roll their $$ into residential real estate, even searching it out when they sell a property, as opposed to putting gains elsewhere in the economy.

The second is that you can deduct mortgage interest on up to two homes.

I could be persuaded otherwise, but I think these kinds of benefits make sense for a primary residence, and that's it.

As for #1, the item is called a 1031 exchange. It is not limited to homes nor residential real estate in particular.

And I would disagree -- at a certain point 'rolling over' the home is simply a one for one wash. You sell one, you buy one. And on top of it, whatever excess is left over from the exchange is taxed with all depreciation calculated. If the rollover is a lager amount, one either takes out another loan to cover the excess, or forks that deficit over.

Further, in impacting residential issues, the major issue is management. If you get to the point of where your marginal 'success' in a rollover of portfolio means to tag an extra property along -- that means your portfolio is around 6 or 7 places. It is easier to invest in a DST offering at that point.

As to the second issue -- that is rather agnostic. Most in that situation would regard the mortgage as a cost of doing business and the entire mortgage then becomes a 'deduction' from net income -- that is the 'cost of doing business' you perform to determine net income. Much like any bank loan is a business expense deduction form any business.

All that glitters is not gold


Yet much of the job creation in 2022 and 2023 represented catch-up hiring after COVID wiped out 22 million jobs and Americans flush with cash from stimulus checks and hunkering down spent the horde, says Hershbein of the Upjohn Institute. The buying binges prompted businesses to staff up. Now, the catch-up hiring is over and most of the savings have been depleted.

Meanwhile, companies are feeling the effects of high interest rates and sharply rising wages at the same time customer demand is waning and recession fears, though easing, are still swirling. Oh, and it’s a presidential election year – a wild card for economic and business policy.

“There’s a lot of uncertainty,” Hershbein says. As a result, many companies, are saying, “’We’re just going to wait’” before bringing on more workers.

https://www.msn.com/en-us/money/markets/...a998&ei=44

Biden’s lies in the SOTU do not match people’s daily experiences.

the new American dream

…is to leave.

“It has been a tricky few years from an affordability standpoint for many Americans. The Federal Reserve’s efforts to curb post-pandemic inflation by hiking interest rates have increased the cost of borrowing and reduced Americans’ purchasing power.”

vote Biden for more of this

The economy is being artificially boosted by debt-fueled government spending and is heading for trouble bound, a veteran economist warned.

"You've got an economy on speed, not an economy with healthy growth, and sooner or later that comes back to bite you," Peter Morici, professor emeritus at the University of Maryland, told Fox Business in a recent interview.

inflation up



Prices rose 0.4% from January to February, higher than the previous month’s figure of 0.3%, the Labor Department said Tuesday. Compared with a year earlier, consumer prices rose 3.2% last month, above January’s 3.1% annual pace.

Excluding volatile food and energy prices, so-called “core” prices also climbed 0.4% from January to February, matching the previous month's rise and a faster pace than is consistent with the Fed’s 2% inflation target. Core inflation is watched especially closely because it typically provides a better read of where inflation is likely headed.

(03-12-2024 11:32 AM)OptimisticOwl Wrote:  Core inflation is watched especially closely because it typically provides a better read of where inflation is likely headed.

While I generally believe this is true, it undeniably has also lead to changes in priorities.... as in because they are so large a component of most people's budgets, food and energy are often the targets of proposals that don't actually reduce inflation, even if they do raise or lower food or energy costs for a period.

'Event' driven causes are also often exacerbated so as to 'not let a tragedy go to waste' as in an event that might have caused a 1 time spike of 5% is compounded by 'emergency actions' (often unrelated) that make it a 10% reaction...

Just got a notice of a 26% increase in my nursing home insurance. I have the option to cancel, pay the increase , or take a reduced benefit. Increased costs is blamed, and I don’t doubt costs are up, despite the rosy assurances from the left. Thanks, Joe, for putting the fear of a longer, but penniless life into me. I wonder how the lying SOB will blame “his predecessor” for this.

Bidenflation

The passage of the American Rescue Plan in March 2021, without any Republican support, has been cited as a key turning point leading to historic and sustained inflation.

Bidenomics: Borrow money from china, give it to...

Good reasons to...

...not vote Democrat.

"Last fiscal year, the U.S. took in as "revenue" (primarily in taxes) north of $4.4 trillion. This is a staggering amount that is hard to get your head wrapped around, so let me provide some context. This amount is more than the entire GDP of every single country on earth other than the U.S. and China. "



"With the U.S. financial situation being precarious and the politicians’ desire to gain more power at your expense increasing, the money needs to come from somewhere. So, Biden, Warren, Vermont Independent Sen. Bernie Sanders, et al., are trying to float the wealth tax again to see if they can trick people by saying it is targeted at the wealthy.

It’s reminiscent of when the government wanted to monitor and report $600 Venmo and Etsy transactions "for the billionaires."

The reality is that the middle class has trillions of dollars in hard-earned wealth tied up in 401(k)s, pensions, homes, businesses and other assets. That’s money that politicians see and are salivating over to expand their government directives."

History has shown that every time the Left has gone after taxing millionaires and billionaires, the thousandaires end up being taxed also.

(03-29-2024 08:24 AM)OptimisticOwl Wrote:  History has shown that every time the Left has gone after taxing millionaires and billionaires, the thousandaires end up being taxed also.

Often simply by using their old friend 'inflation'.

They set the bar for enforcement at some level that seems like a lot today, that in 10-15 years at 3-5% inflation is now what it takes to live.

(03-29-2024 09:44 AM)Hambone10 Wrote:  

(03-29-2024 08:24 AM)OptimisticOwl Wrote:  History has shown that every time the Left has gone after taxing millionaires and billionaires, the thousandaires end up being taxed also.

Often simply by using their old friend 'inflation'.

They set the bar for enforcement at some level that seems like a lot today, that in 10-15 years at 3-5% inflation is now what it takes to live.

Not really that benign.

The income tax itself was originally supposed to be for the top .1% or so, only. Famously, one of the opponents in congress said something along the lines of "if we pass this 1% tax, what is to keep it from going to 2% or even 3%?"

The Alternative minimum tax was to make 16 millionaires "pay their fair share".

IRA contributions were orignally tax decvuctible, but because some "millionaires" were getting that tiny deduction, they made it taxable about $25K.

And the beat goes on, supported by unthinking smurfs.